The impact of COVID 19 lockdowns on working patterns have been well documented as they've affected all of us! Whilst the vast majority of our clients' offices remain closed and numerous articles have been written on how this change of office/work/life will be ever lasting, there remain numerous challenges for firms seeking to ensure their businesses remain as competitive, productive and efficient as possible.
This article is an interesting counter to the majority of those I've read which highlights the challenges of prolonged WFH - retaining the cultural glue of a firm, developing younger employees, avoiding burn-out and other mental health issues and greater regulatory oversight for employees now at home - that might mean the generational change some are expecting may not come to pass.
Our expectation is of a shift to more flexibility, but perhaps not as much of a life change as expected.
As the financial behemoths of Wall Street and the City of London reassess how they’ll operate in the post-pandemic world (assuming we get there), change is certain. Even with Covid-19 in check, staff working away from an office building will no longer be an exception. Banks will be thinking about saving on their huge urban real-estate costs, and employees about a better work-life balance. When you look around at the relatively empty streets of New York and London’s business districts right now, you’d be forgiven for thinking this shift will be seismic. But one mustn’t underestimate the resilience of “business as usual” in boardroom thinking. Speaking to some of the world’s biggest banks, one gets the impression that the new way of working might not be so different to the old way.