A recent blog post on Finance Magnates gave some valuable tips for companies and employees who have switched to remote working during the COVID-19 pandemic.
While many FinTech, Finance and I.T. companies are accustomed to working remotely the coronavirus has kicked the world of remote working into higher gear. Companies across many industries have been forced to move large parts of their operation online / into remote working.
The Fintech Industry’s pre-existing predilection for working online has proved very valuable. Many FinTech Companies have always advertised some remote jobs primarily to source highly qualified candidates. The shift to moving more or less completely online has seen very little disruption.
Reports from leading Companies in the FinTech Industry such as blockchain-based gold jewellery platform MarketOrders and Australia-based cryptocurrency exchange Independent Reserve are reporting that the transition to telecommuting has been rather seamless and effective.
It is not all positive news however, as some economists have warned that the global shift to remote working could contribute to a larger-scale economic slump. According to economist Nicholas Bloom, factors such as working alongside your kids, unsuitable workspaces and no in-office days could create a productivity disaster for firms.
Richard Red, a contributor in research and strategy at Decred, a cryptocurrency network firm that has always been completely remote, told Finance Magnates that the productivity slump might be only temporary.
Mr. Red advices people to be patient and believes that they will get used to the new way of working quickly.
Remote Work – Team Morale and Spirit Needs to be Maintained
Workers are now experiencing new levels of isolation not just from separation from their co-workers but from society in large. Therefore, companies are increasingly taking extra measures to support employees’ mental and emotional health. Digital Platforms such as Zoom, Slack and WhatsApp can be used to hold meetings and keep in contact with staff. There has also been a trend in holding online social events for employees. Ideas include but are not limited to hosting ‘virtual drinks’ of a Friday evening, online quizzes and watch parties.
Using Digital Communication channels effectively is key. Keeping work and play separate is also important in these digital channels of communication. According to Decred’s Richard Red “For community spirit, it is worth having a set of other channels which are more discussion-oriented, ranging from discussion of work-adjacent topics to more general interest or humorous content,”
So, what happens after the quarantine ends? As mentioned, it will not take companies long to figure out how to work very productively remotely and it would not be a major surprise if remote working become increasingly common in the future.
We may see more businesses prioritizing online presence and sales channels in an effort to future proof themselves and their businesses.
Source: Finance Magnates
If you like this post, by the way, an excellent way of saying “thank you”, would be to link to it from your site, we would be much obliged.