The coronavirus has taken the world by storm. It has infected lakhs of people across the globe and has taken the lives of lakhs more. In India alone, there are around 80,000 positive cases with over 2,500 deaths. To curb the spread of COVID-19, the Government of India has imposed a lockdown since 25th March 2020. This has left the businesses with no choice but to work from home and ensure that the economic activities continue to move if not grow.
The benefits that were reaped by businesses when working from home ranged from financial to personal gains. Where most companies couldn’t expand on the idea of working from home before lockdown, it has now become more beneficial than they previously imagined.
Most companies have vast infrastructure that takes up a lot of costs to run. They have managed to save on the cost of real estate, transport, electricity and water bills amongst several others. Many businesses have also reduced their operating cost by lowering the salary of their employees by 30% to 50%.
The industries, when operating remotely, have ensured that their workforce remains active and productive throughout the working hours. Their employees are working full-time and some are even working extra hours to tend to the needs of customers. This has helped them retain their quality. What has further contributed to their quality of processes is their availability.
While working from home has done a lot of good for various industrial sectors, it is also harming several others. The real estate industry is faltering with no or reduced activity in their business sector. Considering the lack of use of public transport, the transportation industry is losing its streak as well.
Both small and large businesses are considering WFH as a permanent feature. This has led them to evaluate both the merits and challenges of the whole idea. Several companies have already made the decision of making only 25% of their employees work in the office building at any given time. The idea of WFH is spreading wide and fast, provided the security, quality and productivity remains unscathed.