What’s your Pick? Remote or Co-located Teams
It is no longer a globalization issue any more that teams have to work in more diverse settings, but a reflection of the new order at the work place – gig economy. We are at an inflection point where a not only a large number of workforce are temporary/contractual but also regular employees choosing to work remotely due to their personal constraints.
In the view of our changing times, product owners and project managers must equip themselves on a new skill on ways and means to managing remote teams.
Recent research points favourably towards allowing remote working for increased productivity. A Chinese Travel company CTrip allowed some of their regular staff to work from home and they found out that the call handling rate went up by 13.5% which was almost counted for a day’s worth work over a week.
“The truth is rarely pure and never simple.” – Wilde
On the other hand companies like Yahoo, Bank of America and IBM – the pioneer of remote working are now winding up on this idea. For instance IBM is looking to desparately reinvent itself around new businesses. A Harvard study indicated teams working together created more impactful research. In the knowledge industries, its the value of innovation that will exceed the value in productivity gain. Small wonder companies like Google/Apple or Facebook are never known for their Work-From-Home policies as much as they are known to create a mini-universe inside their campuses for fulfilling every conceivable need of their employees. Gourmet food, nap pods, child care, etc. are some of the perks offered to keep the employees engaged and stress free for extended hours for greater productivity. The latest being Facebook’s reimbursement policy of freezing eggs for a deferred motherhood.
However, in the face of these developments are the data emerging from Gallup “State of the American Workplace” and Flexjob’s “State of Telecommuting in 2017” report. It gives a clear verdict for remote working as the new preference for the current workforce.
Whilst telecommuting is one of the core millineal values, it is still a perk most workers will appreciate. The business case for remote work could also be to purely reduce costs. In 2009, IBM reported to have saved about $2Billion in real estate costs and maintainence by encouraging remote working. However, 2017 saw them reversing this decision.
Its a given that disruptive companies, require people with diverse backgrounds to stay ahead of the curve. This won’t happen if companies don’t widen their hiring base as much to win the war for talent.
The Deloitte Millenial Survey clearly indicates the preference of Millenials towards flexible locations over higher salary. Millenials now make up the largest chunk of the workforce and they won’t have any qualms of moving into a company that offers telecommuting as an option.
What’s your preference? Share your comments below –