Zeta’s founder Bhavin Turakhia believes that people aren’t suited to work remotely, especially in the fintech industry. He made this statement at The Makers Summit, adding that the company was among the first to move to remote work during the pandemic. Turakhia believes that remote work cannot replicate certain aspects of working from an office, and his comments come at a time when the COVID-19 pandemic has significantly decreased in India.
Bhavin Turakhia, the founder of Zeta, believes that people are not meant to work remotely, especially in the fintech sector. Despite the fact that Zeta was among the first companies to shift to remote work during the pandemic, Turakhia stated that employees can’t build relationships while working from home and that companies that only do remote work have slower disruptive innovation. He argues that when people come together in a shared space like an office, it accelerates learning, innovation cycles, percolation of culture, decision-making, productivity, and incident resolution. However, a 2018 Stanford research paper found that employees working remotely showed a productivity boost equivalent to an additional day’s work and a 50% reduction in attrition. Turakhia’s argument is not against productivity but in favor of the relationships that are built working with peers in a shared space. He believes that the turnaround time for innovation reduces significantly, allowing companies to create disruptive innovation.