COVID-19 taught us a lesson about the value of dynamic working environments, although in a very challenging way. It has reignited interest in remote work, with more and more individuals are forced to stay home and stringent social distancing strategies are being enforced in workplaces.
The COVID-19 pandemic will have a huge effect on our personal lives as well. Even before Covid remote work was gaining momentum in different industries around the world. Several studies indicate that remote work can help increase the productivity of workers and businesses save money from overhead costs.
Nonetheless, the need to handle remote teams effectively is a major challenge. Also, for certain jobs working from home are not feasible.
Challenges of Work From Home
These are unusual times and the Covid-19 pandemic and the resulting lockdown changes the way we work. Remote work has to stay and it is more likely to remain at play even after this pandemic ends. In many companies, work from home was uncalled for even around six months ago.
But as of today, almost every company is adopting it as an effective tool, and for many, it contributes to greater efficiency than ever.
1. Loss of Productivity
Efficiency in the work from home format is difficult to track. One does not want to persuade staff to constantly update their status on what they have done daily. These efficiency issues will exist in the work from home model. Most of us juggle between the duties of home, office, and family, and this seems to be one of the major problems.
2. Discipline vs. Distractions
It’s no wonder that managers worry about employees’ productivity in these WFH days. With the allure of mid-day sleep, Netflix, virtual reality sports, drum lessons there are multiple distractions in the work from home model. Also, activities such as short walks to the park and many more distractions are applicable for work from home model. No wonder it takes longer to complete assignments. It takes as many as five hours to do anything that can be done in an hour at the workplace.
It becomes harder for companies to measure productivity with little or no input into what an employee does during the day or how busy they are. Although WFH is ideal for self-starters and responsible people, untested teammates and young men aren’t a good idea. More significantly, efficiency is likely to be impaired by background noise, poor internet connectivity, noisy neighbours, and so on.
3. Problems with leading Virtual Teams
For the virtual handling of the team new ways of management are required to be established. Our forms of leadership have been participatory and egalitarian with the execution of the virtual world being much more complicated. Accessibility should be our leadership quotient in this volatile, unpredictable, nuanced, and ambiguous environment. It is important for each worker to feel active and unique.
4. Handling of the New Age Employees
More than 60% of the employees start and/or transfer from campuses in India. For general personal growth and career development, the concept of peer mentoring or reverse mentoring is most relevant. Above all, where are our young colleagues going to think about ‘corporate culture’? That additional corporate finesse conduct parameter includes customer handling, presentation skills, company etiquettes, and cross-cultural assimilation.
5. Lack of community and differences in culture
Working from home as an independent entity is quite different from working in the office. It is hard to find the tight-knit camaraderie that makes very great teams in a discussion or a weekly video call.
6. Faster decision-making v/s empathy check
In a virtual world, fast meetings cannot be arranged after remote workers are hired. Likewise, tracking work by pausing at the desk of the workers is also impossible. There is, however, going to be a decline in camaraderie because every day you’re not going to see your squad face-to-face. If we don’t resume the workplace again, the declining work atmosphere will be a clear problem for organizations.
7. Higher Stress levels
The moot question to be asked is whether the workers wanting to continue work from home? According to an HBR survey, 45% of staff want to be back at their offices and jobs, primarily as a result of roles-blurring issues. Many feel it is easier to concentrate fully on work in the workplace.
Actually, it can harm the psyche very much. A stress busser normally drives from and to the office and helps people to remove themselves emotionally from urgent issues. The same cannot be achieved with the work from home model. The disparity between work life and home life appears to vanish since this change is no longer present.
Work Near Home
A new type of remote work is evolving, though working from home (WFH) has become increasingly commonplace: work near home, in which workers can work from a co-working space near their home. Empowering staff to work near the home could reduce coworker contact and collaboration.
Work near Home has freed individuals from conventional conceptions of associating greater productivity with office work, creating the ideal corporate culture, and the overall growth of any company. Companies and leaders’ thinking patterns have shifted, and the reduction of the commute has added hours to the day and increased efficiency. A variety of businesses have already adapted the work near home model.
Advantages of Work Near Home
For an employee to be efficient when operating from home, the overall ecosystem must be conducive. Although WFH might initially look attractive as a concept, it could affect operational efficiencies, employee morale and efficacy. As the management of the work-life balance for employees may emerge as an area of concern, work near home can coexist along with work from home. However, office space works as a strategic tool for the development, and as a source of competitive advantages.
As organizations comply with the new standard, flexible workspaces are a viable choice. De-densification, apart from premium property management, is the key factor that will promote this segment. The co-working space will also follow high hygiene standards and other measures that will attract businesses. The co-working area is perfect for meeting these multifaceted requirements.
The Increasing Importance of Work Near Home
Conventional workplaces are unable to follow the current working standard from home. Many firms had to deal with strain created by long-term lock-in deposit leases prior to the pandemic. This eliminated the ability of the business cashflow to react rapidly to economic change. Flexibility is more important than ever.
For companies looking to start business again, renovation and restructuring of existing buildings would be a further challenge. But, co-working spaces and Flexi cabins provided by myHQ can adapt the design modifications required after COVID-19 quicker and more efficiently than conventional office spaces. Through delivering state-of-the-art facilities such as gyms, cafés, creches and maintaining the entire building environment, Co-working players curate unique interactions and engagements.
In these trying times, the inherent versatility to adapt and adopt and its potential to cultivate a positive collective spirit determined to win will augur well for the co-working market. The pandemic of covid-19 and the prolonged lockdown have made both employers and workers understand some great advantages of remote work. This has forever changed the dynamics of use in the workplace.
Flexible Offices Are Here To Stay
Often, a crisis provides an incentive to make choices that in more business-as-usual conditions would be difficult to make. Despite the disruption, the emphasis would remain on revenue management and improved efficiency. Whereas Co-working workspaces would play an even more important role in cost rationalization and financial agility.
To exploit the potential and make the segment more appealing to its clients, co-working space providers can play a unique role. Therefore, flexible workspaces will suit the bill and fix the gap for any company to expand and shift with the current scenario with the right balance of security, sustainability, and cost optimization.
Co-working businesses will expand on the social quotient, taking into account the current and expected business trajectory, before these shared economies churn out a new type of goal to sustain their relevance forever. According to recent trends in the industry and market predictions, scalable co-working will emerge as powerful as ever and we can predict that startups and businesses have access to developed bureau facilities with community support, cooperation, and information engagement. Besides, start-ups, as well as SMEs, will favour co-working spaces in the coming days. This ensures agility and versatility, accompanied by a sense of community.
Check out some of the most exciting articles related to co-working spaces: