Major Companies Find Remote Work Likely to Remain a Long-Term Solution
In the wake of the government-imposed lockdown to combat the spread of Covid-19, businesses across the country have adapted to a new way of working - remotely. Employees are now working from home (WFH), and the debate surrounding its long-term implementation is heating up.
On one hand, proponents of WFH argue that it could encourage more women to join the workforce, eliminating the need for commuting. Additionally, WFH offers potential cost savings, convenience, and productivity gains, especially when executed effectively. For instance, a physical office with a seating capacity of 500 can cost around 10 crores in rent, equating to approximately 2 lakh per employee. However, these costs are not applicable with WFH, as additional expenses such as staff transportation, air-conditioning, ventilation, furnishing, and cafeteria are no longer relevant.
On the other hand, critics raise concerns about the long-term viability of WFH for employees living in shared accommodations, who may not have the space or freedom to install the necessary infrastructure for remote work. Furthermore, some argue that the lack of a human touch for mentoring could pose a challenge in a purely remote setting.
Several companies, such as EXL Service and PolicyBazaar, are considering making WFH arrangements permanent and are addressing related challenges. They are implementing regulations for documentation, IT security, and clear contractual rules to ensure compliance with legal and employer requirements. In fact, around two-thirds of the 4.3 million ITBPO workforce in India have already moved to a work-from-home model.
As the world adjusts to this new normal, it is crucial for organisations to focus on the learnings from this experience. Delivering value while working remotely and ensuring safety for everyone should be the priority. Some industry experts even suggest that employees could be compensated based on transactions, with more productivity leading to higher compensation.
The shift to remote work has sparked a wave of discussion on the internet, with hashtags like #TheNewNormal gaining popularity. As we move forward, a complete evaluation of the pros and cons of remote working is needed at this early stage to determine its long-term impact on businesses and employees alike.
In conclusion, the implementation of remote work is a contentious issue with valid concerns on both sides. However, with careful planning and consideration, it could provide companies with more flexibility to adjust according to business needs and offer potential benefits to employees and organisations alike. The focus should be on the learnings and how to make remote work a success for everyone involved.
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