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An agile working strategy can be crucial to the success of your business

As businesses continue their quest forhigher profits and flexibility, cutting down on operating costs is finding favour with managers and entrepreneurs worldwide. The reason is obvious. Real estate prices in major Indian metros are prohibitively high and small businesses are finding it increasingly difficult to afford office space.

In major metros like Mumbai and Delhi, infrastructure woes have meant that corporate employees have tospend a significant amount of time commuting to meetings and offices across the city. The impact is clear -loss of productive hours and low-quality output, which eventuallyinfluencesthe bottom-line.

 

Agile working practices: The need of the hour

However, the solution has already been found! Businesses around the countryare adopting more agile policies that promise to change how the workplaces will look like. With the advent of automation systems, centralized offices are becoming relics of the industrial age.

Agile working practices allow employees to focus on outcomes and tasks, rather than where and how they work.Working remotely has allowed smaller teams to get more done in significantly less time, lowering costs and improving efficiency across the board. Here’s how:

 

Flat hierarchies

Virtual teams are much leaner than traditional ones. This allows for faster communication and decision making. With flexible reporting hierarchies, team members are empowered to take critical business decisions independently. It also results in the team developing cross-functional skills that they would have otherwise not have been able to.

 

Employee satisfaction

Long hours and tight deadlines have long been identified as the bane of personal relationships and family time. In a metropolis like Mumbai, on an average, employees travel for more than 8 hours a week. The lack of time for recreation or personal activities results in burnout and impacts productivity adversely. Agile working gives employees the freedom to plan their work commitments to complement their personal lives and promotes greater work-life balance.

 

Quality

Using virtual tools for project management, communication and performance tracking, business owners can get a short as well as medium-term view of the team’s performance against goals. The analytical insights offered by such software can also help teams eliminate redundancies and identify areas for improvement. This makes teams accountable and even helps sensitize them to the impact any errors may have on customer experience.

As the world continues to take giant strides towards visual content, you can also set up or revamp your brand’s visual marketing to propel business growth.

 

Cost-effective

Virtual or co-shared workspaces allow businesses to take on additional resources based on the expected workload. For every rupee spent, they provide better utilization. Businesses can also offer competitive benefits to the candidates that they do bring onboard on a full-time basis, helping them attract and retain high-quality talent.

 

Environmental impact

Businesses are becoming increasingly aware of the rising carbon footprint their activities contribute to. While environmentally friendly building designs have become common, they are also more expensive to build and maintain than conventional ones.

Agile teams, working remotely and collaborating seamlessly, are widely considered to be the ideal solution to this problem. Telecommuting also reduces the pressure on public transport systems and minimizes the impact of vehicular pollution on the environment.

From housekeeping to maintenance, businesses can easily eliminate overheads while increasing investments in technology and training, both of which deliver substantial performance gains through agile business practices.

If you are scouting for funds to implement such practices, SME Loans from Reliance Money can help you with finances.