The CEO of Tech Mahindra says that 30% of Tech Mahindra will soon WFH permanently. The company recently announces its quarterly results. During the press release, the CEO announces this company’s decision
He also says that currently, 90% of its entire workforce is working from home. Also, all of their customers are quite happy with the employees of the company meeting their expectations.
The CEO also says that under these circumstances, at least for 1-2 quarters there will be fewer people working from offices. In the initial phases of working from home, business process services teams faced some difficulties
The company also invested in an integrated command line to put in the mitigation plans. The peers of Tech Mahindra are also looking to implement the mixed work models
Some companies like HCL says that WFH may not be a permanent model for them. The Chief Human Resources Officer of HCL says that WFH is not suitable both physically and mentally for longer durations
Due to the growing fears of the continuation of this pandemic, Amazon extends work from home policy until 2021.
The corporate employees are allowed to work from home until January and restrictions on business travel are also imposed.
In a statement, the company says that the employees’ health is their utmost priority. The company also said that it wants to follow the rules set by the local governments. Amazon wants its employees to continue working from home, whose want can be done effectively from home
Previously, Amazon said that its employees can work from home at least until October. But, the employees working at Amazon warehouses do no have the option to work from home as they are essential to fulfill the orders
The corona pandemic has changed a lot about the working model in the country. Almost all the firms are adapting new work models in order to cope up with it. Recently, SBI says it has plans to adopt work from home model and save 1000 crore
The SBO chairman, Mr. Rajnish Kumar says that by adopting work from anywhere policy, the company is going to save about 1000 crore. This is in the form of cost-cutting and will help run the business in these times
He further adds that the bank is in a good position to tackle the challenges of coronavirus. During the video conference of the annual shareholder’s meeting, he says that SBI aims to focus on the reskilling of the workforce.
He also emphasizes the idea of moving the workforce from administrative roles to sales. He says that the bank wants to implement the Work-from-anywhere policy to improve the work-life balance of its employees.
India’s First Work-From-Home Co-Working Membership launched by Dev Accelerator. It is a co-working space provider that lets you co-work from home.
In order to facilitate a smooth transition between the traditional work culture and the remote work. This membership allows the candidates to stay connected with their team-mates via DevX Collab. This is a technology developed by DevX to assist with multiple work management, Videoconferencing, and productivity tools
The members of the DevX community will have access to network and partner with each other. Along with the DevX’s secure workspace, it also provides one of its kind work pods to the member’s home. This is an aesthetically designed cabin with ergonomic chair, high-speed internet connectivity, exhaust, and electric plug.
Access an indigenous technology developed by DevX for its community.
Experience a private work area designed to enhance your productivity.
Benefit from seamless high-speed Wi-Fi network connectivity.
Let your business leverage from our wide range of allied services.
Access our vibrant workspaces for 3 days a week across India.
Get an all-inclusive health insurance plan against Corona Virus.
The company’s CEO, during the launch of this work membership, says that being in this industry of assisting businesses by creating workspaces, the company has come up with this idea. These days work from home has become a new norm and almost everyone in the company is part of it.
Until now, DevX served several clients. The list includes DCB Bank, Thomson Reuters, Sharechat, Sugarbox, Mobile Tornado, Afford Plan, QX Global, American Express, etc
After TCS and IBM, now Wipro plans to adopt new work from home model. The Wipro chairman announces that the company will come out strong from the COVID impact. Next month, Wipro is set to welcome its new CEO.
The chairman tells that almost 90% of the current employees are work from home right now. He also tells that the company cannot go back to the old model of working. Hence, it has to adopt a new model which includes the employees working from home
In his first letter to the new CEO, Azim Premji says that the company will come out stronger once this corona lockdown ends. The next few months will be crucial for the company to resurrect the business.
Why Wipro plans to adopt new work model?
Mr.Azim Premji also believes that as more and more companies focus on the resurrection, the more adoption of technological advancements. He also says that the company cannot now function with 100% of the employees working from the offices. The current employees are now trained efficiently to work from home
On the appointment of the new CEO, Mr.Premji says that the new CEO Thierry will bring exceptionally great leadership, strong international exposure, deep strategic expertise to the company. He also has the experience to drive the transformation and managing technological disruption. He believes Thierry is the right leader currently for the company
How about other companies?
Recently, TCS announces a new work from a home model, in which only 25% of the total employees will work from the offices by 2025. Also, each and every employee will spend only 25% of their time in the office
Earlier, Infosys also announces a new work model. According to this model, around 80,000 employees will never come to the office. The company also wants 66% of the employees to work from offices and 33% to work from home permanently.
Along with TCS and Infosys, IBM also announced plans in which only 25% of the employees will come to offices and the rest will have flexible work from home plans. Also, IBM plans to reduce the workspace to 50% in India.
SBI is revamping its work from home policy. Soon, SBI employees might work from anywhere. India’s largest bank is coping with the after-effects of the coronavirus. During the annual report, SBI says the focus of the bank in the coming days will be on business procedures and rapid adoption of digital technology
SBI believes that the current fiscal year will be challenging for the bank due to the corona outbreak. Also, the bank feels that they will be a change in the behavior of customers as well
Until now, only 21.8% of the overall customers have availed the moratorium. The bank achieved 98% branch operability and 91% alternate channel operability during the lockdown.
SBI has a Business Contingency plan(BCP) in place during emergency situations. BCP’s main task will be to assist the customers and also to support essential backend services. The entire world is moving towards a more robust work from home policy. To cope up with this, the bank is also planning to revamp it WFH policy
How does bank want to tackle this
The bank believes that technology and productivity tools are also in place to assist the employees to work from home efficiently. SBI believes that employees can choose to opt from Work from anywhere(WFA) with this technological help.
WFA has already been introduced in the foreign branches and soon it will be implemented in the domestic offices as well. SBI believes this move will reduce the operational costs for the bank by providing additional motivation and productivity to the employees
With the coronavirus, global manufacturing is disrupted. Many companies are looking to set up their branches in the country. This will be a great opportunity for banks.
For the FY19-20, SBI posts a net profit of Rs.14,488.11 crore which is higher than Rs.862.33 in FY19
Infosys says that 33% of its staff will WFH permanently, in the future. Once the situation improves, 50% of its employees will start coming to offices. Rest of all will continue to work from home
Gradually, Infosys looks to maintain 66% of people working from offices and 33% working from home. This might be a permanent work model for Infosys in the near future. The executive vice president and head HR of Infosys Richard Lobo announced this plan
Also, Infosys wants to rotate the people who are part of work from home. Not always the same set of people will work from home and it keeps on rotating.
According to the current numbers, if 33% of the employees will start working from home it will be around 80,000 people. These are the ones who will work from home permanently.
Infosys did not commit any timeline to implement this plan. Mr.Lobo believes the timeline for implementation entirely depends on the Covid-19 recovery
Infosys believes that this work from the home model is not that tough to implement and many companies have already successfully done it. Also during the corona lockdown, this implementation is done by several companies
After the Q4 results, Infosys’s COO announced this same thing. He reiterates that there is no decrease in productivity during the lockdown, even though most of the employees are working from home
Contrary to cost-saving, TCS has observed an increase in expenses during WFH. Tata Sons chairman, N Chandrasekaran said that this is due to the long term lease contracts that were signed with the buildings.
He also added that in the current situation it is all expenses for the TCS rather than income. This was announced during the annual general meeting. It was the first virtual gathering of all the stakeholders by any Indian corporation.
The TCS spokesperson also added that this new work arrangement is not a stop-gap response to the COVID by TCS. TCS observes the current trend and takes the decision accordingly. It is also making significant new investments.
Chandrasekharan also said that TCS does not have any plans for acquisitions this year. This is related to the questions asked about the cash-heavy reserves of TCS. He also added that TCS observes the acquisition situation carefully. Though they have high cash reserves they tend to be more disciplined in these situations.
Instead, they are looking to improve existing businesses across various segments rather than acquiring new ones.
CEO of TCS, Mr. Rajesh Gopinathan said that since FY2016 the company has created unprecedented revenue for its stakeholders. In the last 5 years, the company has paid its stakeholder’s Rs.112,422 crores in terms of dividends and buybacks.
TCS is proud of this achievement due to no other Indian company achieving this mark. TCS has declared a dividend of Rs.6 per share taking its overall equity share to Rs.73 in this financial year. This includes special dividends as well. This year, the total payout was at Rs.31,895 crores.