20 Aug 2020, 10:00 — 4 min read
Cost reduction is probably one of the trending keywords for decision-makers worldwide, which makes WFH (work from home) a considerable alternative to the hybrid office concept. The advancement majorly drives the shift to WFH in the digital ecosystem and the range of cloud-based solutions available to connect employees seamlessly, clients, organisation, and its processes. However, COVID-19 has also played a pivotal part in expediting this paradigm shift.
Prima facie, WFH banks on convenience, comfort, and productivity. However, when it comes to other aspects like the work-life balance and mental wellbeing of employees, WFH does not offer any significant advantage over Hybrid offices.
Combining the convenience of WFH and the versatility of hybrid offices, to create an innovative space that will not only satisfy the sustainability goals of the organisation but also promote the wellbeing of employees and provide them optimal work-life balance.
On one hand, we have organisations like TCS and Wipro that are currently considering long-term to achieve financial goals and business continuity. TCS is planning to have 75% of their employees to work from home by 2025 as a part of their cost reduction process. Wipro has already shifted 93% of their employees to work from home for business continuity and is currently evaluating the feasibility of permanent WFH facilitation for their employees.
On the other hand, we have organisations like Microsoft and Google, who are reluctant to jump into the bandwagon as their growth is primarily driven by collective innovation. For them, WFH is probably a short-term solution to mitigate the raging pandemic and would instead invest more in a hybrid office facility. The primary concern of these organisations is the erosion of social capital that can lead to dilution of synergy among internal stakeholders, which in turn can negatively impact brand equity.
Companies that are planning ahead may also have to consider the perspective of a future workforce that will majorly comprise of millennials and generation Z, who are most likely to opt-in for a combination of WFH and hybrid offices, as they have higher priorities about work-life balance which can possibly impact the collective productivity.
Despite the two schools of thought about WFH, the practical working constraints around COVID-19, and the financial goals of the organisation will still remain as prominent factors. They will work in favour of long-term planning around WFH.
This brings us to the question as to whether we can combine the convenience of WFH and the versatility of hybrid offices, to create an innovative space that will not only satisfy the sustainability goals of the organisation but also promote the wellbeing of employees and provide them optimal work-life balance.
Also read: How to effectively manage remote teams
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Posted byPrasoon Therambath
Market Research, Strategy & Insights