6 Myths About Remote Work That Need to Be Busted

Three years ago, the world witnessed, a global pandemic.  We were pushed into a vortex of loss, isolation, and despair. Our lives were upended. Offices, schools, storefronts, and factories were closed overnight – All of us suddenly went ‘online’.

Strangely, this sudden switch gave birth to a whole new paradigm of work –remote working. During those difficult times, these virtual workplaces acted as a shock absorber of sorts. Work continued keeping us busy and distracted from the pandemic.  Now as the world has sprung back to its feet, there is raging a debate on the efficacy of remote work.

As the Chief People Officer, leading the switch to Work from Anywhere, we’ve had to adapt how we operate while ensuring our people feel supported and stay engaged. The following is an account of the steps we’ve taken – that have led us to embrace the idea of ‘working from anywhere’ with open arms.

Myth 1: Remote Work Leads to Inefficiency and a Loss of Managerial Control.

The outdated notion of employees evading work in a remote working set-up reflects mistrust. At Bandhan Life we place our faith in our people, focusing on their outcomes rather than their locations. This allows our people us to maintain flexibility of location while keeping accountability at an all-time high. We’ve encouraged our people to use the time saved on commuting to pursue outside interests – such as hobbies, or their general well-being. We've found that our team members, freed from the daily commute, are more focused, productive, and happier, leading to greater work-life satisfaction.  

Similar benefits are being recognised across a wide range of industries across the globe. Companies that embrace remote work see a drop in unscheduled absenteeism, while eliminating other workplace distractions. According to the Global Workplace Analytics survey: Businesses lose $600 billion a year in workplace distractions. Companies like Best Buy, British Telecom, Dow Chemical, reported that employees are 35-40% more productive in a remote working set-up.

Myth 2: Remote Work Damages Work Culture and Employee Engagement

Remote work doesn't mean isolation or a weak culture. At Bandhan Life, we've built a thriving remote work culture that fosters engagement. With a unique remote onboarding process, new employees feel welcome from day one. We facilitate informal chats in our virtual meetings, encouraging camaraderie.

Our digital-first training approach nurtures professional growth, with interactive courses and a robust Learning Assistance Program. We keep motivation high through a variety of virtual events, ensuring a balance of work and fun.

We strengthen connections with meetups for remote employees and their families and foster a performance-driven culture through two-way communication and recognition programs. Our transformed office serves as a collaboration hub for milestone celebrations and brainstorming sessions. Employee success stories are showcased frequently, reinforcing a sense of pride and belonging. With high engagement scores, our remote work culture is thriving. Our high engagement scores and thriving culture have proven that it’s truly possible to Win From Anywhere!

Myth 3: Successful Change Management Clashes with Remote Work

Bandhan Life stands at the vanguard of a major transformation, evolving from a traditional insurance company to a technology-focused entity. We've revamped our sales strategy to be customer-centric and revised our hiring and engagement practices to attract forward-thinking talent.

Cross-functional teams, with harmoniously aligned Objective Key Results (OKRs), drive collaboration. Our cultural pillars echo our modern ethos, and an Employee Value Proposition keeps talent committed during the transformation.

We foster innovation in operations and product offerings, using unconventional data analysis and advanced analytics. Our workforce transitioned from labour-intensive to lean, empowered by AI and machine learning. The entire employee journey, including HRMS, has been digitized for a seamless experience.

We conduct change management workshops to facilitate mindset shifts and co-create solutions via innovation labs. Far from being incompatible, our journey shows that successful change management and remote work can coexist, and thrive, under a visionary approach.

Myth 4: Remote Work Heightens Technological Risks and Data Vulnerability

Security is paramount in a virtual workspace. By strategically investing savings from physical office costs into robust IT Infrastructure and security measures, we've managed to create a safe and flexible environment for our teams to thrive. This approach offers benefits such as a secure environment, fast enablement, and employee satisfaction through the freedom to work anytime, anywhere, and on any device. In contrast, traditional environments require significant capital expenditure on IT asset procurement, security solution implementation, logistics, and maintenance.

Myth 5: There Is No ‘Switch-Off’ Time.

Organisations must help employees unwind and create a healthy work-life balance. They should be able to take care of their professional and personal commitments, both with ease. Of course, there are some employees who tend to push themselves and work long hours. But that should not pressure others to do the same.

At Bandhan Life, we have established some golden rules that must be followed. We have designated ‘no meeting hours’, that allows time for planning, and personal reflection. One workday a month is set aside as a ‘no meeting day’ so employees can use to catch up on projects or invest in training. No one feels pressured to check/ respond to emails sent over the weekend or during late evening, unless flagged as urgent. 

Our people have the flexibility to decide what their switch-off time is. The work from anywhere model offers a lot of flexibility, so people can plan their days accordingly. 

Myth 6: Remote Jobs Pay Less.

If an employee's output and commitment are equivalent to those in a traditional office setting, why should their pay be any different? At Bandhan Life, remuneration is determined by capability, competence, and performance, not by work location. To make Work from Anywhere more comfortable, we provide added benefits such as reimbursements on internet charges and for setting up a home office. 

Outcome:

Today, Bandhan Life is ushering in a new era in the Life Insurance industry. We've successfully blended remote work, top-tier innovation, a vibrant culture, and a collaborative approach, making us a testament to the possibilities of digital transformation. Over half of our team members work remotely from various locations, far from our headquarters in Mumbai. Additionally, more than two-thirds of our talent pool boasts a diverse background, a radical shift from conventional industry norms.

We've faced our fair share of hurdles along the way, but the rewards have far outshone the challenges. This journey of transformation has only just begun, and we're excited for the incredible milestones yet to come.