WFM the new normal
The biggest consequence of the Covid-19 outbreak is the transformation of the way we work. Large-scale work from home (WFH) implementations are making the world to radically rethink our traditional ways of working. The idea of working in a job with fixed timings in an office could well become irrelevant post-COVID-19.
The big question is, how will our lives turn out to be after this pandemic ends? Or it is going to remain unchanged for an unforeseeable amount of time and we would just have to learn to live with it, and accept social distancing as the new norm.
In recent news, Indian corporate giant TCS has planned to ensure a 25/25 model for its employees. This decision will ensure that 75% of its employees work from home permanently by 2025.
This will help the company save huge amounts being spent on office building/space/rent, operating, admin & transport costs and will prove to give a great work-life balance to its employees.
This pandemic has not only left us asking questions regarding our current job security but has also made us wonder about how and what the future of our jobs will be…..
If work from home is the new future, then how companies are going to implement it, and to what extend? If this becomes a permanent thing, companies might have to alter their HR policies, they will have to find new ways to keep their employees working from a distant location, engaged and motivated. Surely to place tighter monitoring and governance mechanisms to ensure productivity. This can lead to another wave of technological innovations.
Additionally, it will help reduce attrition, attract better talent (especially women) and people may even settle for lower salaries. People can move out from cities to smaller towns with lesser rents and cheaper cost of living. This move will make a lot of sense for people living in metro cities where they spend a large amount of their time commuting.
If TCS being the bellwether among India’s IT services firms can successfully implement such a big change, others will have no choice but to follow. How this substantial change is going to impact the already slowed and suffering economy, we will just have to wait and watch. If given the option to work from home permanently, many employees will choose to never leave their home town, this again is going to have huge implications on already suffering industries like Real Estate, Transport, Hotel/ Catering, Retail, etc. Over the next couple of years….
It would be safe to say even after the world can find a cure for this pandemic, our life and the way we live are never going to be the same again. Then again as Charles Darwin Rightly said: “It is not the strongest of the species that survives, nor the most intelligent. It is the one that is most adaptable to change. It is imperative that companies initiate policy and structural reforms for a life post-COVID-19.