HYBRID WORK MODEL IS HERE TO STAY
With people shifting to the work-from-home model owing to the Covid-19 pandemic, things have undergone a host of changes in everyone’s lives. However, with restrictions being eased as cases dip, the focus is now on hybrid models. Nishant Rathi, the founder and CEO of NeoSOFT Technologies, a global outsourcing giant involved in various verticals of the industry, spoke to Partha Sarathi Biswas about the future of hybrid work models.
What is the future of the hybrid model? Many companies are reluctant to go for it given performance issues related to such models.
The future is certainly about adapting to a hybrid or a remote workplace model that matches the dynamic pandemic norms, which are periodically levied. Today, the focus is centred around work being done, rather than where it’s being done. The situation demands that people connect with secure, smart technology and adapt to cognitive and insights-driven digital platforms where the results are tangible.
Reluctance towards the hybrid model can only lead to congestion in the future. Organizations should introduce processes where the end goals are pre-defined and mapped against measured productivity. Subsequently, the reluctance will fade out. The downside arises from organizational norms that underpin culture and performance. As far as individual performance is concerned, I believe that employees should not only be shouldered with responsibilities, but also add authority and accountability to it, and you will see that the results are amazing.
What kind of investments have you seen being made by companies during the pandemic to set up remote workspace and what would the average cost be?
By and large, most businesses are being compelled to leverage remote working. We have witnessed a good surge in inquiries from global corners where they have been looking for business continuity solutions. Businesses seem to have changed perspectives and from small entrepreneurs to large enterprises, everyone now has exclusive budgets for their digital agendas.
Long-term investment in technology is essential to build seamless hybrid work environments. The global information technology spending on devices, including PCs, tablets, mobile phones, printers, data centre systems, enterprise software, and communications services came to 3.7 trillion US dollars in 2020 and is expected to increase by approximately 8 per cent to around 4 trillion US dollars in 2021.
Hybrid models can work for IT and heavily IT-dependent industries including banking and finance. What about manufacturing and capital goods? What kind of investment would be required in this sector?
Right now, the opportunity for any sector is to host the hybrid virtual model that best fits their company. I must say that this shall introduce a new shared culture within and develop stability and cohesion irrespective of the employees working remotely, on-premises, or in some combination of both.
Sectors like manufacturing where manual physical deployment has been an age-long need can resort to automation to the extent where manual intervention can be ceased. ERP, CRM, intelligent workflows, remote monitoring, project and performance management tools should be implemented and units should embrace new concepts such as ‘Smart Factory as a Service’.
Can the hybrid model work for the MSME sector? Will it be economical for them?
The hybrid work model is here to stay, and I am of the strong opinion that it can benefit any sector or any industry. While talking about transitioning to the hybrid model, we are simply emphasizing embracing a change where technology is the only benefactor. Be it a start-up, MSME, or SME, everyone shall have to open doors and onboard the winds of change. We at NeoSOFT have rolled out an exclusive initiative for start-ups and mid-size companies to scale up their digital endeavours. They can reach out to us and we shall be glad to guide them through.
Exclusive interview of our Director Mr. Nishant Rathi with Indian Express. Click here to read.