Expert: Carole Lamond, Chief People Officer at Multrees Investor Services, Multrees Facilitator: John Chapman, Director, Catalyst Partners
Headlines:
- Adoption of hybrid working models - 81% of companies have implemented some form of hybrid working. Many are providing incentives like free meals, social events, etc to encourage employees to come in to the office a few days a week. However, there are differing views on how many days are needed to maintain culture.
- Perspectives on productivity - There are conflicting opinions on whether hybrid working has increased or decreased productivity. While lack of commuting gives more hours, collaboration and innovation are perceived to suffer by some.
- Challenges attracting and retaining talent - Many employees now expect location flexibility. This has made retention difficult, especially with competition from fully remote roles. But the balance of power may shift as talent pools shrink.
- Younger employees' attitudes to in-office presence - Younger ambitious people seem less interested in in-person work for development and visibility. But they may not appreciate the career benefits they are missing out on.
- Providing flexibility for parents - Accommodating parents and childcare, especially for women, is important. However, blanket policies can lead to some taking advantage, targeted support may be better.
- Need to develop management skills - Managers need training on maintaining team cohesion, performance management etc. in a distributed setting.
- No consensus on optimal approach - Some believe culture and sense of purpose will naturally drive employees into the office. Others think flexibility is here to stay and culture needs to adapt.
Discussion:
The discussion revolved around hybrid working models and the challenges of implementing flexible work arrangements post-pandemic.
Most companies (81%) have adopted some form of hybrid working, with many providing incentives like free food, social events, etc. to encourage employees to come into the office. However, 68% of executives believe people should be in the office 3 days a week to maintain culture.
There are differing perspectives on productivity - some believe it has increased due to lack of commuting, while others think innovation and collaboration suffer. It is hard to measure productivity, especially creatively/strategically (vs just doing tasks).
Attracting and retaining talent has become more difficult, especially with competition from fully remote roles. However, some feel this may shift as talent pool shrinks post-Brexit.
Younger ambitious people seem less interested in being present in person for career development/visibility. But they may not appreciate what they are missing out on.
Providing flexibility for parents/childcare is important, especially for women who often bear bigger burden. But blanket benefits policies rather than targeted support can lead to some taking advantage.
Management skills need development to handle hybrid environment. Training is needed on maintaining team cohesion, performance management etc in distributed setting.
There was no consensus on optimal approach - some believe strong culture and sense of purpose will naturally drive employees to come into office. Others feel flexibility is here to stay and culture needs to adapt.
Key takeaways:
- Review your current hybrid working policies and arrangements, and evaluate what is working well versus areas needing improvement
- Survey employees on their preferences for remote vs. in-office work, and challenges faced in the current model
- Assess management capabilities and provide training where needed on leading dispersed teams and managing performance
- Consider targeted flexibility policies and incentives instead of blanket approaches to get the right people in office
- Have leadership define and communicate the purpose and importance of in-office time for culture, collaboration, development etc.
- Re-evaluate your value proposition and culture to remain competitive in attracting and retaining talent as expectations change
- Track productivity metrics carefully to quantify the impact of your hybrid model
- Continuously solicit feedback from employees and review policies frequently as you strive to optimise the arrangement
- Use resources wisely and target these to your company’s culture
