How workplaces are changing after COVID-19, Anand Vemuri of 91Springboard tells us all
91Springboard has readied corporations to beat the "Great Resignation"
Times are changing and change is the only constant. The new normal for corporations is to expect a hybrid work culture where people will come to work for only two days a week or in some cases four days a week. The era of flex stock in work spaces has become a reality and organisations don'tt want money spent on large offices spaces. As the world gets used to the "Great Resignation", Anand Vemuri, who is the CEO and co-founder of 91Springboard tells us about the future of work.
Times have been tough for the coworking spaces, how has COVID-19 impacted yourbuisness?
Anand Vemuri: There was a huge impact on our business, everything changed overnight. We all had to wait it out. That was 2020 and by the end of that year things starting settling down and we started to see new things emerge. We have reinvented the whole business to focus on flexibility. The second wave of COVID-19 was far more than the first wave for people, but business continued and the churn was only 16 percent, for us, as compared to 80 percent in
What are clients telling you in 2021?
Anand Vemuri: Our clients came and told us that the office plays a social role because companies are communities in the end of the day. From a risk management point of view companies did not want to do five year forecasts on leases and fit out the property with large amounts of capital. That's why you see the demand for flex stock going up over the last year. You will see people coming in two days a week. A company can have 150 people, but all its people may come to the office on different days. Companies can also come back and say they can make it a four day work week. However, companies have to change the way they operate after COVID-19.
What are some of things to expect in 2022 especially with words like the "great resignation"?
Today everyone has heard of the term the "great resignation", people who work from home believe that their personal productivity is higher and hence going back to the office is not going to work for them. They also believe that they rather work from a coworking place closer to them than go to the corporate office. Many job offers today ensure that there is flexibility between home and office. Leaders have to go back and talk of first principles. In the last decade founders were worried about sales and technology and today they have to worry about the office.
Many founders are asking the question why should they have offices. If you look at the consulting industry, it was the first to question the existence of an office even before COVID-19. Most of us are spending time with clients and in their locations, do we really need an office. There are these dynamics that founders have to get used to going forward.
(For more information listen or watch the entire podcast on theupstreamlife.com)