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| 1 minute read

Rethinking Face Time Culture in Financial Services: Adapting to Change in 2023

In the world of financial services, the concept of "face time" has long been ingrained as a traditional way of conducting business. The idea of physical presence and in-person interactions has been seen as crucial for building relationships and trust. However, as the world rapidly evolves, companies in the financial services sector are recognizing the need to adapt their face time culture to meet the demands of a changing workforce and embrace new modes of communication and collaboration.

Perspectives are beginning to shift within financial services as some companies are beginning to change their focus towards outcomes and productivity, rather than mere presence in the office. Leaders are recognizing that flexibility, remote work options, and virtual communication can foster a more inclusive and efficient work environment. To structure the changes in face time culture, financial services companies are implementing several strategies. Some organizations have introduced flexible work arrangements, allowing employees to choose between remote work and office attendance. Others have adopted a hybrid model, combining both remote and in-person work to accommodate diverse preferences and optimize productivity. Additionally, companies are investing in training programs to enhance virtual communication skills and ensure effective collaboration in a digital environment.

The face time culture in financial services is undergoing a significant transformation in 2023. Companies are recognizing the importance of adapting to a changing workforce and leveraging technology to redefine traditional notions of physical presence. By embracing flexible work arrangements and investing in digital collaboration tools, financial services organizations are not only enhancing productivity but also fostering a more inclusive and efficient work environment for their employees.

The lack of ability to pick one’s own hours “dramatically” worsens retention, the survey found; workers with no schedule flexibility were 2.5 times as likely to report “definitely” looking for a new job this year... Considering that flexibility overall seems to boost worker performance, happiness, and retention, bosses might want to forgo the return to office debate.

Tags

financial services, face time, culture, asset & wealth management

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