All posts by Awfis Editorial

5 Tips to Improve Brand Communication During COVID-19

Inspiring Stories

Changing times call for changing communication strategies. Marketers and brand owners are inhibited by the way the global pandemic is impacting their businesses. And yet, it is more important than ever to generate appropriate, relevant, and original ideas to stay connected to your audience and drive the right message.

Brand communication in the times of Covid-19 needs to be more creative, ingenious, and strategic to ensure that you are heard as is your audience. Unless you are running a business that only caters to high-priority needs, it’s time to rethink your communication strategy and make it more effective.

Expand your social outreach

If you were using social media to connect with your audience, then this is the perfect time to go all guns blazing on such platforms to stay connected with your customers/clients. Make the most of interactive content, instant updates, trending news, while you throw in a little bit of entertaining content. Be in the know while you make your audience feel included in your business at all times, whether or not you are operating in full capacity. This helps with brand awareness for new customers and makes existing ones stay connected to your brand.

Boost your customer service remotely

Most businesses have shifted their services and support online. The switch, from face-to-face interaction to going remote and digital, calls for a big change in operations and servicing strategies. Invest more in apps, email marketing, chat support, or WhatsApp marketing, to communicate, so your audience never loses out on updates. Prepare your service teams to connect with customers online and make sure they always have a good experience with the right communication style and channel.

Be informative

These times call for generating awareness and educating your audience on what they can or cannot do. Informing them about preventive measures, best practices, and how they can manage their work and life will build customer loyalty, trust, and make them feel cared for, which will go a long way in establishing a solid communication system even in the future.

Be creative but relevant

In uncertain circumstances like these, brands need to be more understanding of their audience. Be creative but careful of what message you deliver and how. It is important to be empathetic yet relevant to people’s needs without instilling or indulging in their fears. In a crisis, all people seek is support. Even if you need to drive sales, the messaging needs to be tactful, and yet, it cannot come across as insensitive or opportunistic, or it could appear to be a hardcore sales strategy without the humane factor in it.

Invest in paid ads

With businesses mostly online, this is the best time to get the attention of your “always online” audience. Invest in paid advertising and other paid digital campaigns to attract more traffic and generate conversions. With CPC (cost per click) rates being lower, it gives marketers more opportunities to invest in paid ads and make the most of the gap created by those leaving the competition.

Summing Up…

When times are tough, everything you do can either make or break your brand. You can neither walk on eggshells nor make it business as usual. It’s a fine line to draw and walk so you can sustain your business while boosting (or at least maintaining) the brand image.  Being focused on your audience’s needs, being realistic yet compassionate, can remarkably boost your brand communication and keep you connected to your audience or reach the right people.

How can Small Businesses Survive and Thrive During this Pandemic?

Inspiring Stories

In any scenario of a global economic downturn, it is mostly the small businesses that take the hardest hit. The current pandemic of COVID-19 is no different. For the last few months, small and medium enterprises have been grappling for sustenance, some stopping their services altogether, while others are pushing through to keep their operations going. Issues like lower cash flow, minimized clientele/customer base, and managing costs have forced many businesses to rethink their existence. But the key to survival is all about finding ways out of roadblocks, isn’t it?

So, what can these businesses do to survive and sustain the pandemic and continue to thrive? As experts and thought leaders believe, there are a few tried and tested ways that these enterprises could adopt to stay alive and kicking!

1.  Be agile

The agility of processes and functions is one of the keys to stay ahead of the game today. More so now, when businesses need to adapt and adjust to the challenging market circumstances and tweak their operations to suit the immediate needs of the business, as well as of their customers. From digitalizing systems to incorporating newer services, or setting up a solid WFH/remote working system, it is time to transform the way you work and serve people.

2.  Tap into opportunities

With every challenge, comes hidden opportunities. Depending on what product or service you offer, you can include options like flexible payment methods, high-priority goods, round-the-clock customer support, and always stay connected to people who matter to your business. It goes a long way in strengthening your business contacts.

3.  Be present online

Being digital-first has now become essential. If you are in the retail business or have a brick-and-mortar store, now is the time to take it online and expand your customer base. This way, you can keep it running even during the lockdown. It might need some initial investment, but the infrastructure costs will definitely be lesser than a physical store and will be more sustainable in the long run. If you already have an online-based business, expand your reach using social media, paid ads, and boosting your SEO exercises to drive more traffic.

4.  Invest in your employees

Businesses that hold onto their human resources despite all odds are the ones who keep surviving. By investing in your bottom line, you not only get their support and help retain them but also ensure increased productivity. This is the time to train your people, help them upgrade their skills, and explore different roles, so they also grow while helping you sustain. For instance, let your sales teams learn about marketing and other operations, while you provide necessary technologies and flexibility of the work environment.

5.  Get financial aid

Governments and financial institutions are coming together in these times to support small and medium businesses with small-term aids and loans. Stay updated on how they can help you manage costs, invest smart, and move your capital around while helping you prepare for financial exigencies.

With the above practices, also consider these:

When moving your costs around, take into account the financial standings of your suppliers, vendors, or customers, and be supportive to your community.

Stay away from panicking on sudden market shifts and making hasty decisions. Always rely on available data and analyze your next strategy.

Do not try to game the market or its situations. Stocking up on inventory and reselling at a higher price might seem profitable right now but will not be a sustainable or an ethical measure in the long run.

Like everything else, this pandemic and its effects will not last forever. As long as you can adapt and keep sailing, holding onto every resource, you can sustain, survive, and rise above any crisis!

Awfis Leadership Series – Future of Shared Real Estate Economy: U, V or L Shaped Recovery?

Business Innovations

Awfis Leadership Series – Future of Shared Real Estate Economy: U, V or L Shaped Recovery?

Awfis Leadership Series provides a platform to industry experts, thought leaders, and visionaries to discuss and dissect changes in the industry as well as understand shifting consumer demands that will shape how businesses evolve. They also formulate the best practices to keep up with emerging trends, helping businesses succeed.

The 6 August 2020 webinar comes at a crucial juncture when businesses are still reeling under the global pandemic and are looking for innovative measures to revive growth. Moderated by Mr. Amit Ramani – CEO and Founder of Awfis, the webinar’s esteemed panel includes eminent leaders shaping India’s real estate sector.

Mr. Anuj Puri – Chairman of Anarock

Mr. Rajesh Jaggi – V.C., Everstone Capital Advisors Pvt. Ltd.

Mr. Abhay Pandey – General Partner at A91 Partners

Dr. Nikhil Sikri – cofounder and CEO of Zolo

The panellists discuss the impact of COVID-19 on India’s shared real estate economy, the investment landscape in this sector, and devise a roadmap for the way ahead.

As Mr. Anuj Puri puts it, “This time it is going to be about empathy. Businesses able to show empathy to their vendors, clients, staff, and various stakeholders are going to see long-term sustainability.”

About the investment landscape, Mr. Abhay Pandey is hopeful. He says, “The 2010-2020 period was about China, and most people believe that the next 10 years belong to India. We will see a lot of capital come in.”

However, Mr. Rajesh Jaggi emphasizes the active role the government needs to play in improving the investment outlook. According to him, “From the government perspective, the policies are not consistent. Certainty is what we request the government to give. Across sectors, the government has to speed up reforms to attract much larger FDI. The FDI players do not know how to buy land, how to get permissions. There isn’t a level playing field. These are the things in real estate that the government should be focusing on, and I’m sure by the second quarter of 2021 we will see flows coming into our sector.”

Here is an overview of the key takeaways from this insightful conversation.

What will pave the way for the recovery of India’s shared real estate economy?

A joint effort between the government and entrepreneurs:
To reboot the economy, the government needs to provide the stimulus of resuming business normalcy. The shared real estate players also need to add health-related safety features and the flexibility that consumers are demanding in the pandemic.

Different recovery time frames:
Shared real estate has many components, and the time required for recovery will vary across such segments.

Shared office spaces:
The tenants include both large enterprises and small businesses. The small companies are eager to restart work. But the big companies are cautious about the risks they are willing to take. Thus, the recovery phase will vary across the tenant profiles and centres.

Co-living spaces:
Shared spaces where working professionals live, away from their hometowns, have better stability during the pandemic. Tenants who had gone back to their hometowns are returning. According to Mr. Pandey, one can expect a sharp 80-90% improvement in the coming months in a shared real estate economy.
The rest 10-20% recovery will take more time, probably until the second quarter of 2021.

Warehousing industry:
This sector has maintained its business operation even during the lockdown as the government declared it an essential service. In July, there has been 100% operation.
However, due to the monsoons, constructions are pending. Growth in this sector is expected to strike the rising curve by March 2021.

The good news:
All state governments are actively reaching out to manufacturing hubs across Asia to set up industries in their states. Tamil Nadu, for example, has formed an independent body to reach out to international companies. This approach is sure to boost the economy.

What are the key opportunities and challenges for the recovery of the shared real estate sector?

The changing mindset of customers:
Customer sentiments are changing with an increased focus on safety and well-being. Health safety norms must be implemented across properties to reassure consumers.

Health safety protocols:
Organized providers like Zolo have started implementing disinfection protocols to ensure safety measures, gaining occupancy.
However, unorganized providers may find it challenging to deploy such preventive protocols.

Tailor-made solutions:
People are becoming unenthusiastic about sharing private space. Providing personalized solutions is turning into a necessity.

The road ahead – Building sustainable business models

Empathy, the new critical metric:
While the role of technology and the flexibility of collaborative spaces are going to play crucial roles, empathy is definitely the most vital aspect in ensuring long-term business sustainability.

Evolution – the need of the hour:
From low-cost space providers, the shared real estate players need to evolve into solution providers. Understanding customer pain-points and providing solutions at affordable prices are the needs of the hour.

Digitization and innovation:
Shared real estate providers need to enable tenants to achieve proficiency by making sophisticated technology available at a low cost. For instance, improved teleconferencing facilities, inexpensive AWS services, etc. can be the selling propositions for shared offices.

Reducing debts:
COVID-19 revealed that cash is king. Businesses need to target cash positivity and reduced liabilities to achieve sustainability.

Investment outlook for India’s shared economy in 2021

Availability of capital:
There is surplus liquidity throughout the word. AndIndia is a large market base, a probable source of sustainable returns over time. This factor attracts investors, and market experts predict that India will draw significant advancements in the next 6-12 months, as pandemic-related uncertainties start to subside.

Importance of consistency:
Established businesses with a demonstrated track record of financial performance and operational consistency appeal to investors.

Need for reducing inconsistency:
The government has a significant role to play in boosting the fledgeling economy. Reforms are long overdue. The process of availing permissions is ambiguous. Such inconsistent government policies are a massive deterrent for large-scale FDI players. There is an acute need to modify these policies and provide investment-related clarity to attract foreign investors.

Conclusion

Most of the panel experts foresee an L-shaped recovery curve for India’s shared real estate economy. A sustainable business model that provides the right solutions for the consumers and reflects long-term efficiency in performance can look forward to an inflow of capital in 2021.

Watch the entire webinar here for in-depth analysis and further insights.

5 Work Practices that will Stay with Us Post COVID-19

Work Life Balance,

As the world order continues to change, pushing us to a whole new system of working, it has given rise to new trends and practices that will define the future of organizations. Employers will need to rethink operations with a new perspective, make it more purpose-driven, explore newer possibilities, and harness the potential of this new system to work and make it effective. From employee management to process planning, performance evaluation, and customer experience, major business functions are going to see a new day.

Some of the major long-term changes that are imminent are:

Being Digital-first

Businesses have been toying with the idea of transforming themselves to fit into the ever-expanding digital landscape. Now, it has become more of a need than a want. Particularly the customer-facing service industry has woken up to the critical benefits of being digital-first. By integrating cloud-based operations, process automation, machine learning, etc., businesses will not only improve their functions but will also manage their costs better, boost productivity, and balance human and tech resources.

Complete digitalization of day-to-day work practices will continue, whether it is in a physical or virtual office space. Daily functions like project management, customer/client interaction, evaluation, feedback, etc. will also see heavy usage of digital tools in the coming years.

Decentralized and distributed workforce

In the wake of the pandemic, businesses have learned that distributing your human resources will only make your business stronger. The virtual work environment will continue and provide more opportunities for temp roles, independent contractors, stay-at-home parents, etc., thus amplifying the culture of remote working. This will allow businesses to expand operations across geographies without any hefty establishment costs or entry barriers. Thus, the new workforce will be diverse in their skills and can support customer/client needs across different locations, eventually boosting production volumes.

Increased focus on employer branding

The new generation workforce seeks transparency, inclusivity, and security. And now more than ever due to a major health scare. Employees today want to be part of an organization that pays attention to their lives and not just job skills. Organizations which openly communicate about the physical and mental impact of the current situation will stand out to be the progressive ones. Focusing on establishing an employer brand that nurtures and nourishes its human resources, amid all odds, will also attract top talents when hiring and help retain them.

Transition from readiness to resistance

While operational efficiency is essential, resilience is needed to sustain the efficiency. And resilience comes from agility. As of today, companies that have made themselves adaptive to change are stronger than ever and are the ones who can thrive better in the future. The agility of business functions comes from cross-functional training and expanding skillsets of your workforce. There will be more emphasis on skill upgrade and flexible work practices so they can thrive despite disruptive scenarios.

Evolved work ethics

The pandemic has brought to light a lot of ethics concerns with respect to work practices, organizational decisions, and overall employer-employee experience. This has been a learning period for all, and organizations are now realizing its impact on the bottom line. In the coming time, we can expect to see more well-defined work ethics in terms of awareness and being proactive to health and safety, work-life balance, and improved organizational culture.

Some of these trends can be seen as an impact of current circumstances, while the others are only a step- up from earlier practices that were long due, only accelerated by the changing times. No matter what the cause, the effect will only be of an evolved work landscape.

How to keep your team connected when working remotely?

Work Life Balance,

In the wake of the global pandemic, many organizations are now working remotely from their homes. While the work environment has changed, the need to keep it running smoothly hasn’t. In fact, constant communication, especially within teams, has become more necessary than ever. Despite innovative tools and techniques, people still feel something is amiss in the new set up. Whether you are a seasoned remote worker or a WFH newbie, virtual team management could be a challenge and yet is vital to ensure that the new work setup is a success.

Here are a few tips to make your internal communication more effective and teams more collaborative.

Make the most of communication tools

While working from home, one of the major issues that both employers and employees face is staying connected constantly. Thanks to online communication tools that issue can be easily dealt with. As of today, almost every office operation can be managed using collaborative tools for project management, communication, meetings, and more. You might not have the flexibility to talk across your desks and get an instant response, but you can still recreate the same system using instant group messaging tools like Slack and Google Hangouts. To make the most of team meetings, use video calls and conferencing apps instead of audio-only options so you can maintain your original team environment.

Be responsive at all times

Whether you are a team lead or manager or just a team member, being responsive is vital to stay connected to your coworkers and ensure that work is flowing smoothly. However, since WFH keeps you away from a visible office environment, it can make you lax. To avoid that, be online at all times and respond to queries and approvals instantly, so your team knows you are around and available. It also helps in resolving issues and addressing problems without any time lapse.

Set meeting schedules

WFH or virtual office is still pretty new for a lot of people. To streamline the workday, it is important to set a schedule and maintain a routine, just like you would in a physical office space. If you used to have a daily team meeting at the start and end of the day, then continue to do so, only inform your team in advance and stick to the set times, unless, of course, there is an emergency.

Be proactive

Being proactive is the key to an organized work practice but more so when you are away from your team and other coworkers. When taking breaks, inform your team members, so everyone is aware and know when and when not to expect you. Encourage the same from other team members as well.

Be inclusive

Social distancing doesn’t mean social isolation. People might be working remotely, but they still have the need for socializing and sharing their day-to-day events. Encourage people to interact with their work buddies as much as possible. If feasible, plan group lunches on a video call and use the time to talk about things of common interest and bridge the gap that often comes with a virtual work environment. From problem-solving to brainstorming creative ideas, do it as a group, and bring the human touch to your team communication.

Making your team members feel connected and included at all times, especially in these challenging circumstances, would only ensure better coordination and thus higher productivity.

How the lockdown taught us collaboration & other management lessons

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Unlock 1 has seen many get back to their office spaces and adapt to the new normal of masks and social distancing. It’s a good time to reflect on the many lessons we’ve learnt during the lockdown and how we can apply it to our corporate lives. Sometimes, all it takes for change to take effect is the lack of choice. As we grappled with being locked at home, we geared up to learn new skills, find new ways of entertainment and we collectively managed to remote work effectively. Here’s a look at some lessons we can take back to work with us:

Are we all Digital yet?

Somewhere between forgetting to switch on the mute button and switching off the camera, we all grew up to be digital. The world before the lockdown was divided between the Digital Natives and the Digital not-quite-there-yet. What stopped us from adopting technology which existed to make our lives simpler and help us work more efficiently? And yet, how come when it came to personal usage, we easily figured out Firestick/Chromecast streaming and the latest cell phones? Learning happens out of interest or necessity; and at a company level the interest must trickle top down. The leadership team and managers need to bring in a culture of systemic learning and that begins with them upskilling to lead by example. This serves a dual purpose – one that accepts not knowing everything is normal and second that it’s never too late to learn.

The Key Takeout: For organisations to innovate and evolve, there needs to be a culture of learning. The ‘why fix it if it ain’t broke’ philosophy is the biggest roadblock to innovation.  

Workload equals loads of work?

It’s fascinating how we seamlessly divided house tasks based on innate ability – the younger ones for physically-intense housecleaning, the ones who knew cooking took up kitchen work and the rest did dishes and groceries. Some people rotated duties but each family found its own rhythm. Each person was accountable for their work, knew the others’ tasks and trusted them to do it. Of course, things work differently in the corporate world with its clearly demarcated job profiles and associated qualifications; however, we can take a leaf out of this and relook at how we can assign work beyond qualifications. Align teams to a short-term common goal, clearly define how they’re contributing to it individually and collectively, and acknowledge that effort and result.

The Key Takeout: Working collaboratively by its very nature takes away the sense of ‘it’s not my job’ and builds a system where each one is aware and thus appreciative of the work the others are doing.

Time: Too much of a good thing?

Humans are creatures of habit which is why when faced with what seemed like infinite time, we used it exactly the way we are accustomed to spending it. The workaholics worked, the fitness freaks worked out, TV addicts binged and almost everyone learned to bake! But at some point we got a sense of too much, even if it was something we enjoyed, we started missing the office, the routine. How does this apply in the corporate world? If you let people chill and do what they love for some time, you’ll get them more refreshed and charged up to work rather than restricting them to strictly work during work hours. By forbidding things, we make them more appealing. This is not a carte blanche to slack off but a more lenient work style where half an hour on YouTube or a game of Scrabble is acceptable and doesn’t have to be done behind the boss’ back.

The Key Takeout: If work is no more restricted from 9 to 5, why should fun have set timings? Set boundaries but don’t make work and life mutually exclusive.

Focusing vs flexibility?

The easily distracted, and that’s pretty much all of us, will find a distraction worth their time. Pets and children replaced colleagues, chores replaced coffee breaks and SOs replaced bosses. On the other hand, we were saved from focusing on what to wear, what is she wearing, where to go after work, the meeting that should’ve been an email etc. The lockdown brought home the truth on how much time and energy is wasted on things of little or no significance. Despite the increase in daily chores, the lack of an office environment, and distractions at home; most people reported being more productive while working from home. Should this mean an end to office as we know it? Yes and no. The office as we knew it – singular location, fixed timings, everyone & everyday reporting – needs to give way to a more flexible, work from home and work near home approach. The flexibility may differ between industries, organisations but the core approach needs to evolve.

The Key Takeout: Focus on what’s essential and become a more outcome/goal-oriented workplace. Does it really matter if the person delivers an exceptional presentation wearing trousers or pyjamas?

When the lines between office and home are getting increasingly blurred, there’s merit to introspect and apply learnings from home and family to help teams work better.   The lockdown tested and demonstrated our potential to trust, collaborate and handle a crisis; and it would be a shame to not carry some of this back with us as we head back to office.

6 Must-Have Remote Work Tools to Help You Work Seamlessly from Home

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Although the idea of virtual office space and remote working is no unicorn in the professional landscape, the Coronavirus pandemic has pushed us to adopt this culture more widely and seriously. And now that it has become a norm, it’s important to master the practice and use the right tools to increase productivity and continue to work efficiently.

Here are some of the best remote work tools to have:

TeamViewer

If you need basic desktop access, this is the perfect tool to use. With instant file transfers, clipboard transfers, and video-enabled interactions, you can easily replace your physical office space. Maintain social distance and yet be present for your team. TeamViewer is available for Windows, OS X, iOS, Linux, and Android, and it is free for personal use.

Slack

Contrary to its name, this communication platform will never let you slack on your work updates. You can create workgroups, lock confidential messages, alter message retention for security, and integrate it with your Google Drive, Dropbox, and Mailchimp for instant file transfers and uploads. It also allows you to enable instant notifications on your email or phones while you are away from your work desk.

Zoom

Video conferencing is now made easy with apps like Zoom. It is best for teams that require frequent meetings. It’s an open-source app, available for all devices, so you don’t have to spend a dime. You can enable chats while conferencing and ensure 360-degree communication. Zoom meetings are now password protected, which makes it more secure than ever.

Drawpile whiteboard

Sometimes, while briefing, it is easier to draw it out than talk or write. Whether you miss scribbling notes in a meeting or pen down creative ideas, Drawpile lets you present your thoughts graphically. It also fulfils the need of a whiteboard in a meeting room. It’s real-time, allows collaboration from other connected users and is great for designers, planners, and work that requires artistic application/visual presentation.

Basecamp

Ever since it was launched, this web-based project management platform has been a go-to tool for people working virtually. With key features like task management, instant messaging, email, team collaboration, file sharing, message scheduling, creating reports and more, it makes your day to day office tasks easy and efficient. For an annual cost of $99, and available for unlimited users, Basecamp also makes it worth the investment.

Toggl

While instant communication and seamless project management are essential in a virtual workspace, it is also important to keep track of how everyone is utilizing the available time. Toggl works as a time tracker to assess the work hours spent and find out how productive you have been. It is great for time-bound projects, and it’s a free tool, available for all devices.

Whether you are working out of your home office space, or in a co-working space, these essential work tools and software will keep you connected to your teams and make your remote working as much effective as the physical one.

Marketing During a Pandemic: Dos and Don’ts

Business How To’s,

The Coronavirus pandemic has affected business in ways beyond imagination. Market experts have estimated that COVID-19 will cost the global economy a whopping $2.7 trillion. This has not only scared businesses and marketers out of their wits but makes them ask – what to do next?

Unless you are in the business of essential products and necessity items, you need to change the way you have been marketing your brand.

Here’s a set of marketing guidelines for those trying to stay afloat in the present economic landscape.

Be agile.

Businesses that can adjust and adapt to the restrictive environment will be the ones to stay ahead of the others who fail to change their strategies. Just because you cannot serve your customers in person, doesn’t necessarily mean you stop serving them altogether. Include free services or change how you deliver. Abide by the hygiene practices issued by health authorities. If you are an offline business, now is the time to switch to online and be available 24/7.

Focus on paid ads.

With customers increasingly turning to online modes of information and entertainment, this is the right time to jump into PPC advertising and other paid digital campaigns to capture traffic and conversions. Cost Per Click rates are down, and this leaves room for marketers to make the most of the opportunity. Exploit the reduced competition and scoop up the market share, while others are pulling themselves out.

Offer flexibility of payment and services.

If you are in the retail business, (not necessarily in essential goods) and have managed to retain/acquire customers, offer the flexibility of payments to make it convenient for them in this tough economy. This helps you retain loyalty as well as ensures a consistent flow of customers by easing their payment plans. If you are in tech-based or SaaS services, offer more informative and educational training to your customers. With people losing jobs and looking for newer opportunities, such offers make for a good gesture and help them stay connected to your business.

Expand your social outreach

This is the perfect time to stay connected with your customers through social media and digital channels for information and support. Harness the power of interactive content, instant updates, and entertaining resources to interact with your customers/clients. This will make them feel included in your business even when you are not working in full capacity and would go a long way is your brand awareness and outreach.

Along with the above, remember:

Do not panic and make a hasty marketing strategy if there is a sudden shift in the market. Always use the available data and analyze your next move.

Do not game the market. Stock buying from wholesalers and reselling them at a hiked price might work in the short run but won’t be sustainable or become a legit business strategy.

Do not go silent on your customers. Always stay connected and let them know that you are present and striving to be in the business.

As COVID-19 continues to turn the world economy topsy turvy, businesses must make the most of every possible resource and avenues to make themselves heard and seen.

Why WFH+WNH is Touted to be the New Norm

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The world, as we know it, is changing and the effects are going to impact us for a long time to come, especially how we work. With organizations already implementing Work from Home and other remote working options, the global work culture has largely changed.

As the initial brouhaha of the migration of the work infrastructure subsided, people are realizing the benefits of remote working. Despite initial physical and emotional adjustments with the new work practice, both companies and employees are now in favour of telecommuting.

Could this be the future of the workspace? And if yes, then how can companies/professionals manage their workforce remotely?

For starters, WFH does have multiple advantages like convenience, cost benefits, and needless to say, a better work-life balance. Studies have shown that a home office radically cuts down an employee’s monthly costs, including travel, meals, and office wardrobe. Imagine saving that entire percentage of your income and also being able to work in a space you are most comfortable in!

By saving the travel time, one can utilize the same for work or personal needs. Also, as you spend more time at home, it lets you spend more time with your family and yourself, without compromising on valuable work hours. It enhances the work-life balance that every professional struggles to achieve today.

However, it is not just employees but also the companies that benefit from the reduced costs. If a company has more than half its workforce operating out of their homes, it can cut down on its establishment cost by transitioning into a distributed working model. With reduced overheads, it will boost organizational savings, which could be redirected to developmental initiatives.

Along with major benefits, WFH does bring with it the issue of proper infrastructure and support that one requires to work effectively and smoothly; power outage, internet issues, connectivity issues, and not to mention, the lack of a professional office environment are a few issues that could be of concern.

Ergo, with the help of expert infrastructure partners, companies can provide the right tech solutions, IT support, connectivity, physical infrastructure that will help their employees work better, smarter, and stay productive. Organizations can have a multi-pronged approach of working at home, near home, probably at a nearby coworking space, and a head office as a viable solution. This will allow seamless remote working enabled by tech support and a fully functional office setup.

It is time we accept the fact that even if work-life resumes soon, it will never be the same. And even when we start exploring the outdoors, we will see the evolution of entirely new work culture of ‘Distributed Working’ – WFH + WNH (Work Near Home) + Office.

This newer model retains the practice of working from home, and yet allows professionals to be in a well-designed work environment, supported by proper infrastructure. It’s imperative that organizations assess their employee and managerial wfh sentiment and suitability to gauge the organizational readiness as a whole for work from home effectiveness.

Our latest product offering https://www.awfis.com/inspiration/wp-content/uploads/2016/06/shutterstock_3835072871.jpg@home is designed to cater to these organizational needs. It assesses employee, manager and organizational readiness, provides customized solutions for physical and IT infrastructure along with an integrated tech platform for employee management.

The impact of this all-new work practice could also go a long way in building a work culture that respects and encourages every individual’s needs, promotes trust within the team, sets clear expectations, and ensures accountability, by emphasizing more on communication than ever before.

Post lockdown, the new and improved is what we need to prepare for, for professional success, business growth, but most importantly, for the health of the society at large.

 

Why do Leaders Swear by Thinking Fast and Slow?

Inspiring Stories

According to Daniel Kahneman, human beings have fractional thinking – System 1 and System 2; where System 1 is the gut, intuitive thinking, and System 2 is analytical, problem-solving and reflective decision making. Overall, both aid our judgement, where for some situations system 1 (fast thinking) provides the foundation for System 2 (slow thinking). But in many conditions, these work independently – for example, first impressions are formed solely by fast thinking. However, best decisions are made when both these methods are running simultaneously.

Hence, leaders swear by thinking fast and slow because it provides multiple business advantages such as:

Error Minimisation: Leaders encourage employees to indulge in fast and slow thinking because it reduces errors. If a person applies any of the two independently, there is a higher chance of tilted decisions. For example, when a person thinks too fast, it leads to cognitive biases, leading to erroneous results. For example, A project demands the regional sales of X product. But an employee registers only ‘sale’, conducts a quick search and quotes global sales while providing no figure for region-wide sales.

Enhanced Productivity: When a person effectively balances both slow and fast thinking, productivity rises sharply. This promotes wise thinkers who analyse situations rather than rely on quick judgments. For example, in a team, two employees do not get along and indulge in ruthless competition. A leader, who applies fast and slow thinking, will adopt a sound strategy to form better relations between the two, such as joint mediations or a combined project. But alternatively, in a quick response, if a leader fires the underperformer, it will be a loss to the team.

Rational Decisions: Decision-making is the basis of management and hence, needs to be made rationally. For example, a team needs to vote for a leader. Some employees, instead of carefully assessing the candidates, might make an unreasonable judgement based on superficial qualities. This will lead to the selection of a wrong candidate, which could be avoided through balanced evaluation based on multiple factors, including appearance, attitude, career trajectory, team spirit, etc.

Quick, Calculated Response: Hasty decision making or slow thinking can both result in a disaster independently. Hence, employees need to be quick but also calculated in their responses. Assume a scenario where a client is angry, and the employee reciprocates with the same emotion or worse. In such situations, the employees should be prompt yet calculated with their replies, calm the client and ensure error rectification.

Better Negotiation: For leaders, negotiation is an everyday task. One of the most important factors that can help a leader win a negotiation is how well he/she understands the opponent. The principles of thinking fast and slow help one to better understand the opponent and ultimately win an argument.

Thinking fast and slow advocates a healthy balance of the gut and factual thinking.