Today’s world is rapidly changing within the blink of our eyes. Our country has a price sensitive economy which recently turned into a quality sensitive economy. According to the reports on commercial real estate of India, companies have witnessed the changing land- scape of work and how it is driving the demand for flexible office solutions in India. With the advancement of technology companies are embracing a more flexible approach to work to cater growing desire for work-life balance. This post COVID era witnessed a resurgence of Hybrid working model which permits employees to divide their time between working remotely and coming into the office. It increased productivity, improved work-life integration, and reduced commuting time.

Here the need of managed workspaces popped up in the scene and gradually with time it started driving the whole commercial sector. It offers a blend of private offices, dedicated desks, and collaborative areas, these spaces cater to the diverse needs of hybrid workers.

Instead of investing in building and maintaining a traditional office space, opting for managed workspaces can be a cost-effective option

There are several reasons that make managed workspaces the best option for hybrid workspace models. Here's why they are often the preferred choice for hybrid workspace models:

● Flexibility and Scalability: Managed workspaces offer the flexibility to adapt to changing business needs. As the hybrid workforce evolves, companies may need to adjust the number of office spaces, facilities, or services provided. Managed workspace providers can quickly scale up or down as required. It further allows businesses to respond to dynamic work demands efficiently.

● Cost-Effectiveness: Instead of investing in building and maintaining a traditional office space, opting for managed workspaces can be a cost-effective option. Businesses can avoid the expenses associated with lease agreements, utilities, office equipment, and property maintenance. They can choose from various pricing models, paying only for the services and space they intend to use.

● Reduced Administrative Burden: Managing physical office spaces can be time-consuming and requires administrative effort. With a managed workspace, most of the operational tasks, such as cleaning, security, IT support, and facilities management, is handled by the service provider. This allows the company's management and HR teams to focus on core business tasks.

● Professional Environment: Managed workspaces are designed to provide a professional and conducive work environment. As a result, they help boost employee morale, and productivity, and foster collaboration among team members, who might work together on-site or virtually.

● Focus on Core Competencies: By outsourcing workspace management to a specialized provider, companies can concentrate on their core competencies and strategic goals. This focus can lead to improved overall performance and efficiency.

● Access to Advanced Technology: Another benefit that business owners can fetch through managed workspace is access to cutting-edge technology and infrastructure. This includes high-speed internet, state-of-the-art conference rooms, video conferencing facilities, and other modern amenities that enhance productivity and collaboration among hybrid teams.

● Centralized IT Support: Ensuring seamless technology support for both in-office and remote employees can be challenging. Managed workspace providers often have dedicated IT support teams to assist employees, regardless of their location. Due to this centralized IT support, business owners can reduce downtime and maintain smooth operations.

● Adherence to Safety and Health Standards: In a hybrid workspace model, companies need to ensure that employees have a safe and healthy work environment both in the office and at home. Managed workspace providers are experienced in implementing safety protocols. They also adhere to the necessary health and safety standards, which can be crucial during pandemics or other emergencies.

Overall, managed workspaces offer a well-rounded solution for businesses adopting hybrid workspace models, providing them with the flexibility, support, and resources necessary to thrive in a dynamic and evolving work environment. The gross leasing activity across the top seven cities reaching 12.8 million square feet in the first quarter of 2023, with a significant increase of 23.3 percent compared to the same period in the previous year. The popularity and importance of managed workspaces are on rise bridging the gap between remote work and traditional office environments.