According to a new survey by the Confederation of Indian Industry (CII) and Faculty of Management Studies (FMS), work from home has led to over 25% savings in office rentals and costs involved in meeting clients. The study also found that remote working has significantly reduced commuting stress for employees, leading to greater energy levels.
CII and FMS surveyed 115 companies operating in various sectors, such as technology and IT (13%), healthcare and pharmaceuticals (10.4%), manufacturing and industrial (10.4%), consulting and professional services (10.4%), and energy (8.7%).
The study pointed out that while work-from-home has tangible benefits for both employers and employees in the short term, it may however, lead to some losses in the long run. These losses are intangible in nature.
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“Our survey findings indicate that remote working may be less effective for fostering communication and teamwork compared to traditional office-based work practices, thereby posing difficulties in creating and sustaining collaborative work cultures. This factor is worthy of serious consideration when designing work arrangements,” it said.
In addition, hybrid working entails several disadvantages for both employers and employees. For employees, flexibility in scheduling home working permits is proving to be problematic for those unable to maintain self-discipline. Many employees report a lack of dedicated, undisturbed workspaces at home. Also, remote working has led to difficulty in separating work and personal life which has led to increased stress for some employees.
On the organisational side, respondents in the survey said that remote working has led to less effective communication. Many respondents think that remote working is detrimental to teamwork and that it can hinder the development and sustenance of organisational culture.
The study highlights the positive impact of hybrid work on the macro-environment. Given that global warming and environmental damage are now a key concern of everyone, remote working may help reduce the carbon footprint and promote the achievement of ESG (environmental, social, and governance) goals. “The ability to hire employees from spatially dispersed locations may also help to promote more balanced geographical development, in addition to alleviating pressures of various kinds on major metropolitan areas,” the study said.
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