How Is Remote Work Transforming Corporate Culture Amid the Coronavirus Crisis?

The Shift to Remote Work Amidst the Coronavirus Epidemic

Considering the coronavirus scare and epidemic, many companies are prioritizing the health and safety of their employees by encouraging them to work from home. It's no longer just an occasional activity under the Business Continuity Plan (BCP). With a stronger 4G network and WiFi connection, it's prudent for most companies to accept this new age working pattern, which will likely become a reality in the coming years. This shift is driven by the potential savings on employee-related costs such as higher office rents, electricity, water supply, transport, internet and phone charges, security personnel, housekeeping expenses, and office maintenance.

Benefits of Remote Work for Companies and Employees

Companies can potentially earn more profits by saving on these costs. From the employees' perspective, remote work can save 1 to 3 hours of daily commuting, allowing more time for family. Relocation costs can also be managed more effectively. Given the stricter immigration rules now imposed by many countries, it makes sense to work remotely from anywhere, anytime, any place, and in any time zone in the world. Remote working is inevitable. The sooner companies embrace this corporate culture, the better prepared they will be for future challenges.

The Future of Work Post-COVID-19

After COVID-19 ends, many companies will seriously consider permanently or temporarily allowing employees to work from home (WFH) or on a rotational basis between the office and home. This approach aims to reduce transportation costs, office space rents, infrastructure expenses, security costs, housekeeping fees, electricity and water bills, maintenance costs, relocation allowances, etc. Companies may opt to provide a WFH allowance to employees instead.

Transforming Talent Acquisition

Multinational corporations (MNCs) can transform their talent acquisition processes by conducting video conference interviews and hiring foreign nationals on a WFH basis, thereby reducing the need for work permits and visas. In the future, companies might prohibit international assignments and instead require employees to work remotely for host country locations. This strategy could lead to significant savings by eliminating expenses associated with international transfers, flights, per diems, and other related costs.