Hospitality company, Oyo, has allowed its employees to follow a combination of ‘work from home’ and ‘work from flexible co-working spaces’. It is mainly the corporate staff and those in the capability functions who have been permitted this flexibility.
The Company has reportedly experienced a spike in productivity, which proves that physical presence at the office at all times is not required. It is the efficiency of the employees that plays a significant role in productivity. The flexibility offered by this combo model of working seems to have provided just that.
The field personnel at Oyo have already been working out in the field and going to office, while complying with all the health and safety guidelines and directives.
Oyo’s approx. 8000-strong workforce in India is presently following this hybrid model of working.
The Company has ended the lease contracts of two of its offices in Gurugram recently as part of its cost-cutting measures. The two offices, in Udyog Vihar and Spaze Palazo, were vacated. However, Oyo will soon be going over its space needs once again and will lease work space as per requirements, across the country.
After a round of layoffs and pay cuts, not long back, the Company surprised its employees by offering them employee stock ownership at heavy discounts.
In early June, Oyo had to reduce its headcount in Japan, as it was unable to deal with the economic pressure following the fall in business due to the pandemic.