Flexible working for more productivity!
Over last few years there has been remarkable change in the attitudes of Indian firms towards flexible working. The most notable of these is the transformation in the way SMEs in India function.
August 27, 2015 / 05:28 PM IST
In today’s world, entrepreneurship clearly plays an undeniably important role in any economy generating wealth and providing employment.
In one of our recent surveys (March 2014, Regus Global Business Survey), it was discovered that 60% of the new jobs generated globally every year come from SMEs. Another interesting discovery was that SMEs across the world are the ones that have embraced the concept of flexible working in the interests of both – their employees’ wellbeing, and their business’s productivity. This finding doesn’t come as a surprise since most professionals today look for careers that offer them flexibility in terms of location and hours.
In India, the idea of flexible working took a while to gain acceptance. Large global corporations like IBM, Google and Accenture were the first to introduce and popularize flexible working in the country. But over the last few years, we have seen a remarkable change in the attitudes of Indian firms towards flexible working. The most notable of these is the transformation in the way SMEs in India function. Indian firms until very recently viewed productivity in terms of number of hours at the workplace but this approach is seeing a gradual change.
So how does flexible working really benefit SMEs and start-ups? The key to keeping profits up is reducing your investment and overhead cost. The biggest deterrents to setting up your business today according to existing entrepreneurs is lack of access to credit, red tape and lack of governmental support. Given the lack of institutional support and difficult access to credit, entrepreneurs have now realized the value that flexible workspaces allow. This permits SMEs to upscale or downscale operations with ease and with minimal investment. It also permits them to invest all their capital into growth strategies rather than dealing with lengthy leases and extensive investments.
With money and other resources tight and support to entrepreneurs limited, business owners in particular need to be able to devote their resources to spotting and capitalising on openings rather than worrying about issues like lengthy property leases and other hindrances. Success in the 21st century is all about agility and adaptability and entrepreneurs already show that they strongly favor flexible working compared with non-business owners. They are therefore likely to increase their flexibility moving forward and ensure they grasp the opportunities offered by flexible office space arrangements that leave them plenty of room for maneuvers and to invest in growth.
Workspace providers like Regus India assess the kind of requirements needed by SMEs, start-ups and even large firms and customize workplace solutions accordingly. Flexible and fully equipped workspaces allow an organization or a professional to work for a short period of time (like in the case of a project), or for a few days a month (new working moms). This kind of flexible working arrangement ensures that productivity and profit is maximized and your workforce is happy. This is the future for professionals and organizations alike!
Authored by Harsh Lambah, Country Head, Regus India