An Understanding of the Serviced Office Ecosystem

The evolution of serviced offices

In the initial years, serviced offices were considered a part of the commercial industry that was suitable only for small businesses. They were seen as a steppingstone for startups. The sector has now evolved and gained a reputation as a sustainable workplace model for all sizes of business- including large corporations. Even now as the corporate culture changes and finds ways to provide employees with a better work-life balance, the flexible office space model continues to flourish.

The last decade has seen exponential growth in the demand and popularity of flexible serviced offices in Mumbai. This highlights how important serviced offices have become not just for the occupiers, but the wider office market.

Businesses nowadays are considering every option available to stay afloat and ensure business continuity. Flexible working arrangements in serviced offices in Andheri are considered a feasible business continuity plan. Every business from startups to established corporates is now actively contemplating the adoption of flexible working arrangements such as staggered hours for their employees.

What is the reason behind this increased popularity?

After the late 90s, the work culture has transformed from isolated and concentrated working models to comfortable and more relaxed models. One of the biggest advantages of opting for a serviced office space is that it enables businesses to refrain from being tied to a fixed lease/long-term contract serve for a workplace. Today, we are experiencing a futuristic workplace design as we anticipate the trends shaping where and how we work. Companies can choose a plan that is tailored just for them. They only must pay for the services and workstations occupied by them. This way they can enjoy the freedom of scaling up or down the headcount in their teams with ease.

The cut-throat competition in the market requires the employees to bring their best creative side to the table. A flexible business centre in Andheri that provides all workplace-related solutions under one roof is the best option to boost the employee’s productivity and efficiency. The companies are now paying attention to improving employee engagement by creating environments that support interaction, socialization, and mobility.

What is the impact of Covid-19 on the serviced office ecosystem in India?

According to a report, almost 80% of the Indian companies have witnessed restricted cash flow since the pandemic struck and over 50% of businesses faced operational issues. Revenue of various companies was impacted by 20-50%. This resulted in the sudden increase for easy and practical ways to operate cost-effectively while keeping into consideration the social distancing norms. Business Centres in Lower Parel by DBS offer a flexible way to obtain a fully functional and outwardly professional office, which comes with all the amenities that enable the smooth functioning of a business. The flexibility that these offices offer enables these businesses to upscale and downscale easily which allows them to have more control over budgeting during a difficult economy. Being increasingly adopted by working professionals and employers across the world, the upsurge of serviced offices has just begun.