WFH – A paradigm Shift and how Corporates are leveraging technology through COVID
Since the beginning of 2020, work from home has become a norm for many corporations irrespective of their size. Few global corporates declared work from home for an indefinite period, while a few others have gradually reopened their workspaces albeit keeping a cap on daily attendance to address employee concerns on safety.
The pandemic has caused a paradigm shift – both employers and employees realize that coming to work should not be a mandate for all. Companies are now deciding to have only select teams/or a certain percentage of their workforce to come to office. And we believe this trend is here to stay.
Work from home brought cheer to both employees as well as corporations. From an employee’s perspective, zero commute, flexible timings & most importantly, being able to spend more time with family is resulting in higher productivity & improved morale. Employers on the other hand are seeing significant reduction in their infrastructure costs – not just rentals, but other employee benefit expenses such as cafeteria, transport etc. has decreased drastically. Even travel spends have come down, as many employers have curbed staff travel to absolutely essential. This has changed the way business is managed.
While both continue to enjoy many benefits of WFH, it has not all been rosy. Certain challenges also have been thrown up for both. Employees miss interactions with their teams, senior colleagues & customers. Employees, especially the ones who have recently entered the workforce will struggle to understand the formal work culture and may have long term limitations with performance and innovation. Employers on the other hand are finding it challenging to engage their employees & also monitor their productivity.
The pandemic has impacted all industries – but definitely some more than the others. Barring health, on line education, IT and a few consumer companies others have seen drop in revenues while costs have remained static or reduced marginally. In such a scenario, corporates have been looking for tech driven solutions to simplify processes and continue serving their customers. This has helped large tech companies to do well and continue to do well during the ongoing crisis. Corporations are reaching out to these large firms to develop applications to track employee productivity, aps for customer engagement or streamline internal processes. Corporations need to ponder here whether they are getting the best from these large IT companies in pricing, product and delivery schedules. For a large IT setup, these might be small scale projects as they are busy building large scale applications. In this scenario will they give best and deliver what they promised? On the other hand, for smaller tech firms, it represents a reservoir of opportunity. Small tech startups are looking for new clients to forge new long term business relationships by delivering innovative, robust and quick fix solutions at competitive costs. These startups have time, willingness to stretch and a hunger for business and like all others, are in the game to first survive, and then thrive.
We at Traversia build websites, mobile apps and platform based IT solutions. Our fast development cycles and use of latest technologies coupled with competitive pricing sets us apart. Contact us for your tech requirements. Visit us at www.trasversia.net or write to email@example.com
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