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Chuks Udo Okonta
As businesses in the country continue to struggle amid the surge in prices of petroleum products, especially diesel, insurance companies have adopted cost saving measures to enable them remain afloat.
Investigation by Inspenonline revealed that companies are taking steps such as; closing operations by 4pm; using smaller generators and hybrid work to reduce cost in powering their operations.
An operator told this medium that his company has been shutting down operations by 4pm since the hike in price of diesel.
According to him, all now work terminates by 4pm, stressing that it has not been easy copying with the barrage of challenges in the country.
Another operator said his company is operating normally as there hasn’t been any conversations around the need to cut down operations.
According to him, the company is coping because it had since maintained the hybrid work arrangement.
He noted that staff are required to appear at work at least twice in a week, adding that the company has not gone back to full work from site mode since the pandemic.
“So, I believe this is also helping to manage operating costs on the side. And our people have been very efficient, irrespective of the fact that they are working offsite or onsite.
“The feedback from staff is that this has helped them to manage work-life balance as those who close from office by 4pm are able to get away from normal closing time traffic, faster. They get settled at home and able to do other things for themselves and family,” he submitted.
He noted that since the pandemic was over, the firm has been closing at 4pm, no longer 5pm for those in the office while those offsite still close at normal time.
“I also believe the early onsite closing time too has helped to manage operating costs (diesel consumption for the office and staff buses) better, before even this soaring cost came up,” he posited.
Another operator said his company is still running as usual for now, but the matter of changing operation dynamics, would be discussed at management meeting in the coming days.
He said there are plans to reduce work hours like the banks have done to mitigate high cost.
Another operator said his firm is presently using smaller capacity generators to powered it’s operations.
He said there is also rules in place to shutdown the generators earlier than normal, adding that the firm has also adopted other cost
savings practicable measures to remain afloat.
