While talking about the evolution of office space utilisation, Virwani said that his company has transitioned from a per-square-foot model in the past to a per-seat basis
“The office remains the primary workplace, but companies are increasingly accommodating individual needs by allowing employees a greater degree of flexibility,” said WeWork India CEO Karan Wirwani to indianexpress.com. Coworking space provider WeWork recently launched its WeWork Workplace, a new space management and collaboration platform that has been built in partnership with real estate software company Yardi. According to Virwani, this tool will enable companies to better manage hybrid working models.
“Essentially it is a space management and collaboration tool, which allows companies to manage their workforce and their workplace in a hybrid world,” Virwani told indianexpress.com. The platform allows access to a company’s own spaces as well as all WeWork locations. Key features of the platform include seat booking, an internal communications platform, calendar integration, team booking capabilities, and analytics on space utilisation.
The main driver of the platform is the acknowledgment that companies today want more flexibility in terms of space management in the post-Covid scenario. The CEO explained that there is no single tool that can help companies manage their space requirements.
When asked what sets Workplace apart, Virwani emphasised how it differs from traditional real estate models. “I believe the key factor that sets us apart now is technology. WeWork Workplace is a significant differentiator; it’s a global-scale initiative that no one else has accomplished. Additionally, our digital products are exclusive digital-first subscription models currently unmatched in the market,” he said.
Pandemic and working space
While talking about the evolution of office space utilisation, Virwani said that his company has transitioned from a per-square-foot model in the past to a per-seat basis, complete with interior design considerations. He said that WeWork was embarking on the next stage of progression, a shift from a pre-seat model to a per-licence or per-user approach in consuming real estate. This shift promises to disrupt traditional practices and bring in a new era of efficiency.
“The biggest change that we’ve seen is with enterprise companies. So really large companies who have employees, over 500,000 people, traditional companies like consulting, banking, legal, etc.,, are now moving towards our model instead of the traditional model.” He summed up the transition happening in real estate as “almost like a transition from retail to e-commerce over time.” The company utilises spatial analytics, building management systems, and occupancy data to optimise operations.
For companies concerned about data privacy, Virwani emphasised WeWork’s experience working with major global enterprises. “We deal with some of the biggest and most stringent companies in the world. We have some of the biggest banks in the world, like Morgan Stanley, Commonwealth Bank of Australia, and BNP Paribas. To be a service provider to Fortune 500 companies outside, we have to be good with our data privacy and security,” he asserted.
Virwani believes that coworking spaces will continue to become more prominent in India’s commercial real estate landscape. The CEO has predicted the increased adoption of technology to enhance user experiences and expects to see more premiumisation as companies place greater value on meeting employee demands.
With the launch of Workplace targeting the fast-growing flexible office market, WeWork is aiming to further solidify its position as an innovator shaping the future of work.
Source:indianexpress.com