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Global property consultancy Knight Frank India on Wednesday released its latest report that studied the impact of work-from-home (WFH) on India’s corporate real estate from two dimensions — employee insight and cost structure.
According to the report, ‘WFH and the Impact on Corporate Real Estate’, nearly 90 per cent of surveyed respondents miss their office environment while working from home.
In the share of employees who miss their workplace, Delhi-NCR (98 per cent) leads the table followed by Mumbai (94 per cent), Bengaluru (91 per cent), Chennai (90 per cent), Pune (88 per cent) and Hyderabad (81 per cent).
The Covid-19 enforced WFH has also adversely impacted the productivity and performance of the employees. About 30 per cent of employees have expressed deterioration in their productivity and work performance while working from home.
The survey further said 60 per cent of respondents believe that they saved time because of no office travel. About 58 per cent highlighted savings due to no cost of travel.
In terms of disadvantages, 43 per cent felt a lack of office driven social life and 42 per cent cited difficulty in focussing in an informal setting.
As per the analysis, assuming 50 per cent of the employees work from home, the net cost savings yielded for IT firms stood at around 1 per cent. This is after adjusting for additional cost borne by IT companies for setting up the home infrastructure.
Sugata Sarkar, Senior Director - Consultancy & Market Research, Knight Frank India, said in an official statement: “Despite certain conveniences sited for work from home arrangement, most employees miss office environment due to the benefits of communication and collaboration.”
He added: “For any IT/ ITeS services company, new work arrangements should bring in significantly greater efficiencies for it to be considered successful. However, as the survey clearly shows, end-users have not seen any remarkable increase in efficiency. At best, it has remained the same as before. Without significant improvement, the real value of Work from Home arrangement may not be impactful on a long- term basis.”
The company conducted the survey with 1600 employees of Information Technology (IT) & Information Technology enabled Services (ITeS) companies in India to understand their proclivity towards WFH.
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