Zerodha CEO’s Solution To Many Problems of India, Permanent Work from Home

Permanent Work from HomePermanent Work from HomePermanent Work from Home

India is once again under the grasp of Covid-19 which is evident from the tumultuous second wave we’re going through right now. Metropolises like Delhi, Mumbai, Bangalore, Kolkata are facing the worst of the much potent second wave. There is not enough medical infrastructure to cater to the needs of those affected. People are devoid of ambulances, proper treatment, hospital beds, oxygen etc and it has made it more clear than ever that urban spaces are bearing the most brunt in all of India. Maybe it is time to consider few radical approaches says Nithin Kamath, the founder and CEO of stockbroking platform Zerodha.

Urban India’s Problems

“While we all work together to figure out what we can do to help in the current situation, I think the only long-term fix is for as many of us to move away from large cities. This is the answer to many of India’s problems. And now is probably the right time to work towards it,” wrote Nithin on Twitter. In a series’ of tweets he emphasised on the importance of reverse-migration to smaller cities and rural areas.

Large cities are up to the brim and are choking under the pressure of providing for too many people. Cities are just ticking time bombs waiting to break down under the pressure of a huge population. Any small calamity apart from a viral pandemic like floods, pollution, water shortage can wreak havoc on a large city and make its infrastructure collapse. We have already seen this with floods in Mumbai or drought-like situations in Chennai and Bangalore.

Permanent Work From Home

Nithin is of the view that radical methods like permanent work from home can help mitigate these crises. With no restrictions to attend a physical office, people can move out of large cities in smaller rural spaces and still work to the best of their abilities. This will in turn also create livelihoods and bring development to those rural areas. This will mean less carbon footprint and increased quality of life for the movers.

It has become pretty evident from the first Covid wave last year that not only is Work from Home possible but it also is an effective method which boosts productivity. Hence, it can be made permanent as well. Nithin Kamath is in the process of transitioning his own firm to facilitate permanent work from home and he feels pretty confident about the potential it holds.

Even the central govt and various state govts have advised corporates to allow their employees to work from home keeping in mind the current trends. News agency PTI even reports that government is in conversation with top corporations to use their vacant office spaces into temporary Covid care facilities.

Work From Home More Productive, Reports Bloomberg

In a study cited by Bloomberg, it reports that work from home will help lift USA’s economical productivity by 5% owing to the large amount of savings people would do on commute, both time and money wise. Working remotely makes people more productive. The huge amount of technological advancements required to facilitate this change will give a push to already sluggish industries.

Facebook founder and CEO, Mark Zuckerberg has been reported saying that not being restricted to their physical office spaces have enabled the company to hire new pools of talent. Many firms across the globe have adopted the work from home culture with employees working remotely with their salaries more in line with their new locations.

Goldman Sachs Group however does not seem to be too eager with this arrangement. Chief Executive Officer David Solomon terms the work from home arrangement “an aberration” which they soon plan to fix. According to them, new recruits need to absorb the Wall Street culture in person to fully excel in the field.