2022 witnessed the inevitable transition of corporates to a hybrid work model as the pandemic knocked down the silos of a traditional work setup.
With the evolving workplace scenario, organisations today are trying to retain the remnants of an onsite work setup with employee experience at the core.
Notably, this emergence of hybrid work culture has given rise to the need for a flexible office setup, a working model gaining prominence in India even before the pandemic.
However, there has been a significant shift in how people perceive workspaces in the past few years.
As we all reimagine the future of work, flexible workspaces like WeWork India have played an instrumental role by rapidly de-densifying workspaces for companies.
It has enabled companies to accommodate social distancing norms efficiently and empowered employees to synchronise their work effectively.
For instance, in 2020, WeWork India launched WeWork On-Demand--a daily pass where an individual can book (pay) one-day access to select buildings on a microsite with just a click.
By opting for this pass, both individuals and enterprises can benefit from the flexibility and customisation features that, in turn, can help their employees reduce commute time.
The daily pass also contributes to increased productivity by ensuring a more robust work-life balance through spaces in prime locations.
It is already one of the most successful product offerings among members and has much more to offer to support a hybrid-ready workforce in India.
Let's read how:
Enabling Social Infrastructure
A well-established social infrastructure is essential for every human being. Considering that they spend a substantial amount of time at work, their office primarily fulfils this need.
With a well-distributed presence across 40 locations in six cities in India, WeWork On-Demand caters to everyone's needs regarding work near home due to WeWork's proximity to members' homes. That's also a primary demand driver apart from the inherently flexible nature of the product.
By providing shared workspaces, meeting spaces, lounge areas, and recreational spaces, On-Demand has built and sustained a healthy social infrastructure for members at work.
Apart from this, members can access conference rooms & parking (at an additional cost), get constant support from the community team, network with other members, and access events. They can also avail themselves of unlimited high-speed WiFi and unlimited access to coffee and tea.
Whether you want to host interviews, collaborate with your team of 2 or 20, impress your clients or build ideas, our conference rooms are perfect for meetings of any scale or purpose.
For instance, with On-Demand, you can book a conference room for you or your team by the hour across all our prime locations.
Besides this, our community team shares great camaraderie with all the members. It is available at their beck and call, catering to their needs and ensuring an excellent member experience.
Even when it comes to networking, WeWork is a place where you can connect with people from different industries.
So, don't be surprised if you meet your next co-founder or client while grabbing a cup of coffee during your break!
Offering Evolved Products & Services
There is a growing need for a sense of community and the value of collaboration in a workspace.
Employees crave more in-person time with their teams but also prefer a remote working option.
Staying ahead of the curve in this evolving hybrid workplace preference, WeWork India offers various products and services under On-Demand, customised for the HR of small-scale companies, IT professionals, entrepreneurs, freelancers, designers, consultants, advertising, and marketing companies across India.
To solve the needs of B2C consumers and enterprises, WeWork launched two products - 'On-Demand for Consumers' and 'On-Demand for Enterprises,' with offers like the Day Pass, the Day Pass Bundles, and Conference Rooms.
With Day Pass, employees can get the flexibility to work at the WeWork building of their choice without prior commitment.
One can work from a productive workspace for a day from any of our 40 locations across six cities. This pass gives office goers access to the buildings from 9 am to 8 pm (11 hours).
One of the fast-moving offerings by On-Demand is the 'Day Pass Bundles,' which lets people buy/ plan for the week at their location of choice with a package of 5/10 day passes at a flat 10% off.
So, they can utilise the passes almost at uniform volumes when bought once at the beginning of the week.
With no expiry date or prior commitment, people have the flexibility to schedule their workdays for themselves or their team at their convenience.
A time-saver, day pass bundles are also incredible for availing bundle credits for all team members.
A strikingly different offering, 'On-Demand for Enterprises', comprises a personalised microsite accessible only to the respective company's employees.
This service allows employees to seamlessly book workspace, conference rooms, parking, and other amenities, making the flexible and collaborative workspace experience more accessible.
Fostering Positive Employee Behaviour
Employees have become more positive and receptive toward hybrid work culture owing to the nature of flexibility of WeWork On-Demand.
They find it easier to choose a location closer to their homes. Many companies have also transitioned to return to work as the new normal. There has been an uptick in the adoption of On-Demand.
Since its launch, many enterprises have signed up for it, with new enterprises signing up monthly.
Growth Oof WeWork On-Demand In India
On-Demand has grown exponentially regarding the number of members opting for this product.
Since its launch in Nov 2020, the number has increased by 3x with a returning rate of almost 55%. Our new member acquisition has also shown rampant growth, with our new member base nearly doubling monthly.
Currently, On-Demand has around 30k active members. The number of users has also increased from 10,000 in December 2021 to 30,000 in March 2022.
Overall, On-Demand has seen significant growth in terms of revenue, with a 2x boost in H1 2022 compared to H2 2021.
Despite the Covid'19, we've seen healthy demand for the product. On average, we see over 1 in 2 users returning month-on-month for On-Demand, owing to its flexibility, convenience, well-distributed location network, vibrant environment, amenities, and the vibe that adds to the overall member experience for a member.
Day passes have also been on an upward trend since the launch. The number of passes we sell monthly has shown a linear upward trend with a 2x increase from H2 of 2021 to H1 of 2022.
With hybrid work models paving the way forward, organisations have found an ally in WeWork On-Demand, which fits their needs. It has enabled employees and enterprises to be part of a collaborative, innovative, and responsive space to the workforce's ever-changing preferences.
June 2022 saw the highest sales of this offering, witnessing a 3x jump, further highlighting the strong demand among working professionals.
As WeWork continues to institute the right work culture among employees in the ever-evolving working environment, the future of hybrid looks optimistic amongst start-ups and large corporates.