Issue link: https://maltatoday.uberflip.com/i/1246698
14.05.2020 9 EDITORIAL BusinessToday is published every Thursday. The newspaper is a MediaToday publication and is distributed to all leading stationers, business and financial institutions and banks. MANAGING EDITOR: SAVIOUR BALZAN EDITOR: PAUL COCKS CONTRIBUTING JOURNALIST: MASSIMO COSTA BusinessToday, MediaToday, Vjal ir-Rihan, San Gwann SGN9016, Malta Newsroom email: bt@mediatoday.com.mt Advertising: afarrugia@mediatoday.com.mt Telephone: 00356 21 382741 T he COVID-19 pandemic has caused economic turmoil and disruption to companies world- wide but the in every black cloud there is a sil- ver lining. e level of disruption was so great that businesses were forced to adopt different strategies and systems to continue functioning at a time of social distancing. One such system was the extensive use of telework- ing for employees in various sectors, including public administration. From banking services to insurance companies, from media companies to gaming firms, from re- mote EU meetings to public administration services, from schools to financial services firms, there have been a raft of organisations that found themselves embracing remote working. It was a forced transition in a short timeframe that may have been implemented chaotically and without proper protocols in place to ensure efficiency, securi- ty and accountability. But sometimes it takes a shock to the system to pro- duce change. e pandemic lifted the lid on the potential benefits of remote working for companies that have until now shied away from adopting teleworking mechanisms. On a macro scale, teleworking has also helped re- duce traffic on the roads. e disruption has until now opened the eyes of many but for this to last, disruption must be har- nessed. Admittedly, not all companies and not all sectors can adopt teleworking mechanisms. And even in those where it is possible to work remotely, people contact with co-workers and clients may still play an important role. But for those organisations that have until now shunned teleworking because of unfounded fears, misinformation, lack of knowledge or a lack of in- vestment, now is the time to assess the current sit- uation and determine how this experience can be improved upon. Will teleworking be a benefit that could attract bet- ter employees? Does teleworking help employees be- come more efficient because it allows them to pace their family commitments with work exigencies? Can some of the jobs be carried out at home with no need to provide desk space at work? ese are questions businesses should try and an- swer now. A longer-term approach will have to con- sider the investment required in equipment such as laptops, internet services at the homes of employees and servers that will be required to ensure maximum efficiency and standardisation. On an international level, Twitter has said that the pandemic experience has shown it that employees can work remotely and the company will pursue this system from now on. On a domestic level, the investment carried out by the Malta Financial Services Authority over the past year to upgrade from a largely paper-based institu- tion to one that runs on a proper IT system, has en- abled its employees to be more mobile and continue working from home during the pandemic. ere are many more examples that have been a success. It is within this context that the government must consider a post-COVID transition fund for compa- nies to tap if they want to make teleworking an inte- gral part of their set up. e investment in technology to make employees more mobile, without shifting the onus of cost on their household is not insurmountable. But in a situ- ation where businesses are facing slashed incomes as a result of the economic catastrophe, many would be careful to embark on investment sprees. Government initiatives to support this type of spending will not only encourage companies to make the leap but be beneficial to the economy because it will help businesses reshape their work models for the new normal after COVID. Disruption must be harnessed: a future for teleworking