With the winters coming up and the smog and fog making the already bad traffic situation worse, I think it is time to look at the question of flexible workspace solutions. Does it really work? How do the companies benefit from it? What are the advantages for an employee?
According to an article published in the Forbes Magazine "At American Express the BlueWork program has delivered not only improved worker productivity but also saved between $10- $15 million annually in real estate costs, the company says."
As someone who travels quite often between Gurgaon and Delhi I can tell you with some authority that a person travelling on this route for work spends approximately 2 hours in the traffic every day, some days it is even more. The economic impact of these wasted man hours is quite huge. Plus there are other issues that decrease the productivity of the employees once they are in the office. By the time the employees get to work they are already tired and exhausted. The solution is twofold. Either bring the people closer to their offices or let the employees work remotely. A Stanford study conducted with a Chinese company showed that there are multiple benefits for the company in letting its employees work from home. Not only did the company save approximately $1900 per employee for the nine month period of the study the employee productivity increase and the attrition rate fell. This interview of the researcher Nicholas Bloom by the Harvard Business Review is a very interesting read.
Flexible work policies help companies attract and retain exciting young talent. People do not wish to work like a robot and are exploring working options where they can maintain a good work life balance. The trend of allowing employees to work from home is fast catching on and more and more HR Managers are seeing it as a strategic tool. Considering the benefits of remote working I am sure this is the way of the future and more and more companies will allow their employees to work remotely.