The Future Of Work And How It Will Affect Your Start-Up
The pandemic has changed how the economy as a whole conducts business. Debates are surrounding the way business will be conducted henceforth. Over the past year, a majority of the workforce has been forced to work from home. As such most start-ups and big businesses have understood that they can save on a lot of capital if their employees continue working remotely. Some business advisors, however, still believe that adopting hybrid solutions in terms of the workplace will be beneficial for the business.
There is a main belief that work culture will only be successful if there is a physical presence of employees in an ‘office’. This thought process is very limiting and must be changed. The improvement in technology and internet services etc. has made it possible to work online without the use of an office. This pandemic has been very stressful and has posed challenges to many people. However, it’s important to see how our working environment will change as a result. As a Small Business Start-up Advisor in Mumbai here are some of the ways I would approach this problem.
Evaluating job functions
As a business owner in these trying times, it’s important to conduct a thorough evaluation of all the job descriptions and roles. It’s important to understand which employees can work partially or fully remote. As a business owner, you must look after your employees and make sure that they take good care of the customers. Once the job functions have been evaluated you can take a call as to how many employees you would like to have to work in the office and those working from home full time.
Collaboration, flexibility and easily adapting
It’s not just the physicality of the workplace that is changing, it’s also how the work gets done. Employees must be able to collaborate. The work of the collective now is stronger than the work of an individual. An employee who can react to different situations and be able to adapt to the unforeseen difficulties that may be thrown onto them are the ones who will succeed in the workplace now.
A transparent work culture
Having a remote workplace may be beneficial in terms of the financial burden that the start-up may have to face, however, it can also lead to a block in communication. To overcome this block, business advisors advise their clients to create a transparent work culture. It’s become very important to have a clear line of communication in terms of the values and the culture you would like to inculcate in the company. If you provide your employees with enough freedom and choice they are more likely to adapt and comply with the set rules. You must communicate with your employees as to what you expect from them.
About Devansh Lakhani
Director of Lakhani Financial Services, and a Chartered Accountant, he helps start-ups raise funds from his network of investors. He guides and advises start-ups to scale up by providing efficient sales, marketing, team building, and business management strategies. He has executed fundraising by block deals on the stock exchange and conducted IPOs and right issues on the SME platform to the tune of over Rs. 50 Crore. He is currently working with start-ups from various sectors to help them channelize their business models and investments.