News, Culture & Society

New Business Strategy: Adapting to the New Normal of Work Management

Almost all our activities went through rapid changes since the pandemic. As humans, it’s normal to adapt to new norms anytime they come. While we’re not sure of how and when COVID-19 would end, one thing we know for sure is that the way we live, travel, shop, and work have changed dramatically. According to an MIT survey, 15% of workers already worked remotely before the pandemic, while 34% started to work remotely due to the pandemic.

This shows a rise by nearly half in the number of employees working from home now. So far, working remotely has proven to yield increased productivity and companies have continued to be fairly afloat.

The pandemic is steadily driving the future of work, and many companies will most likely continue to run their activities fully or partially remote. In this article, we go over some key factors that may change how the workplace operates going forward.

Cutting Down on Commercial Real Estate Costs

Remote work has shattered the limitations of a physical office. So, a good number of CFOs expect to permanently maintain their new remote work policies to cut down on the cost of paying heavily for empty offices. Companies that intend to resume work activities in their offices are weighing the expenses for bigger office spaces or for renovating existing ones.

There’s the need to install socially distant workspaces, privacy booths, health stands, and other facilities while catering for increased cost of operation. Moreover, offices will run on strict non-physical interactions between employees and this makes it no different from working virtually.

Hiring from all Over the World

Remote work is driving the idea of cross-functional teams. Companies are beginning to explore the idea of hiring the top talents from anywhere in the world. This is a huge game changer for corporations that are looking to expand operations. Having your team spread across different parts of the world makes it easier to diversify, expand, and explore newer markets.

With the availability of technology tools, companies don’t have to worry about location and even visa or relocation bonuses. Employees can work from anywhere without having to travel to new locations, except for sensitive teams.

Overlapping Time Zones

With employees able to work from anywhere, different time zones can play a huge role in customer service delivery. Overlapping time zones afford companies the ability to create longer operation hours per day. For instance, employees in Boston can be ending their work day as the others resume work from different parts of the world. This creates a huge advantage for consistent service delivery and productivity boost.

Productivity Boost and Turnover Reductions

International Workplace Group surveyed 15,000 businesses about the key drivers for flexible working policies and the impact on employees. 85% of companies confirmed an increase in productivity due to greater flexibility. When employees have a say in how and where they work, talent retention is higher and turnovers decline. As companies begin to build remote company culture, the workplace is going to become more satisfied and productive.

Remote Working Tools Are Driving Collaboration and Productivity

Technology tools for remote work are trying to match up the in-office experience in both efficiency and productivity. Companies are aiming to use the best technology for working remotely in order to boost collaboration and output.

Employers are investing in the best remote stack for video conferencing, collaboration, task management and more. Moreover, work-from-home productivity apps that help to track time and activity are becoming popular across remote teams. Beyond the tools, several companies have gone ahead to provide stipends for internet, home office supplies and other essentials for smooth remote transition. Going forward, companies who are willing to show empathy to employees, provide the necessary tools and flexibility will be able to boost productivity and output.

Conclusion

The future of remote work after COVID-19 is still largely predictive. While working from home may be the new normal, some companies may choose to maintain their in-office workspaces. These employers will have to adapt to optimal socially distant interactions, great sanitary hygiene, and regular health checks within the office environment. Even in the near future of offices, technology tools and other adaptive strategies will still be used to maintain distance and productivity within the office.

 


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