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	<title>Hybrid work Archives - International Finance</title>
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		<title>Remote workers excluded from promotion opportunities: Dell</title>
		<link>https://internationalfinance.com/technology/remote-workers-excluded-promotion-opportunities-dell/#utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=remote-workers-excluded-promotion-opportunities-dell</link>
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		<dc:creator><![CDATA[IFM Correspondent]]></dc:creator>
		<pubDate>Fri, 22 Mar 2024 04:15:42 +0000</pubDate>
				<category><![CDATA[Featured]]></category>
		<category><![CDATA[Technology]]></category>
		<category><![CDATA[Dell]]></category>
		<category><![CDATA[employees]]></category>
		<category><![CDATA[Hybrid work]]></category>
		<category><![CDATA[Michael Dell]]></category>
		<category><![CDATA[office]]></category>
		<category><![CDATA[pandemic]]></category>
		<category><![CDATA[Work from home]]></category>
		<category><![CDATA[Work From Office]]></category>
		<guid isPermaLink="false">https://internationalfinance.com/?p=49542</guid>

					<description><![CDATA[<p>Dell has emphasised the importance of face-to-face interactions and has indicated the need for remote workers to switch to hybrid work roles</p>
<p>The post <a href="https://internationalfinance.com/technology/remote-workers-excluded-promotion-opportunities-dell/">Remote workers excluded from promotion opportunities: Dell</a> appeared first on <a href="https://internationalfinance.com">International Finance</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>Dell has announced a significant policy change that will affect its remote workforce, according to a recent report by Business Insider. Starting in May, fully remote Dell employees will no longer be eligible for internal promotion. </p>
<p>Some employees have expressed that their remote working arrangements have provided them with the flexibility to adjust to other life factors, which has enabled them to perform better. This change marks a departure from Dell&#8217;s previous stance on remote work, as CEO Michael Dell himself had previously been an advocate.</p>
<p>In 2022, the company&#8217;s CEO Michael Dell said, “At Dell, we found no meaningful differences for team members working remotely or office-based even before the pandemic forced everyone home.”</p>
<p>According to a new policy, employees will be classified into two categories based on their remote work style. The first category is purely remote, which means that they will not be eligible for career advancement opportunities. The second category is hybrid, which requires workers to be present in the office for at least three days a week.</p>
<p>In a memo obtained by Business Insider, Dell has emphasised the importance of face-to-face interactions and has indicated the need for remote workers to switch to hybrid work roles.</p>
<p>On <a href="https://internationalfinance.com/fintech/tips-financial-advisors-maximise-linkedin-benefits/"><strong>LinkedIn</strong></a>, Michael Dell wrote, “If you are counting on forced hours spent in a traditional office to create collaboration and provide a feeling of belonging within your organisation, you&#8217;re doing it wrong.”</p>
<p>Several employees have expressed their frustration and concern over the new policy to <a href="https://www.businessinsider.com/dell-remote-workers-promotion-return-office-push-flexible-work-2024-3?r=US&#038;IR=T"><strong>Business Insider</strong></a>, speaking anonymously. They fear that this new policy may lead to job insecurity and will impact their work-life balance, especially for those who live hours away from their office location.</p>
<p>Although Dell is not the only company that has been pushing office-based working since the pandemic, with Apple, <a href="https://internationalfinance.com/technology/if-insights-is-google-killing-the-search-engine-competition/"><strong>Google</strong></a>, Microsoft, and more following suit, this situation highlights an ongoing and unsettled debate about the future of remote work and the effectiveness of working from an office.</p>
<p>The post <a href="https://internationalfinance.com/technology/remote-workers-excluded-promotion-opportunities-dell/">Remote workers excluded from promotion opportunities: Dell</a> appeared first on <a href="https://internationalfinance.com">International Finance</a>.</p>
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		<title>Work From Office: More Productivity?</title>
		<link>https://internationalfinance.com/magazine/industry-magazine/work-from-office-more-productivity/#utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=work-from-office-more-productivity</link>
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		<dc:creator><![CDATA[IFM Correspondent]]></dc:creator>
		<pubDate>Fri, 11 Aug 2023 05:12:03 +0000</pubDate>
				<category><![CDATA[Industry]]></category>
		<category><![CDATA[Magazine]]></category>
		<category><![CDATA[CEOs]]></category>
		<category><![CDATA[employees]]></category>
		<category><![CDATA[employment]]></category>
		<category><![CDATA[Hybrid work]]></category>
		<category><![CDATA[mentoring]]></category>
		<category><![CDATA[office]]></category>
		<category><![CDATA[remote work]]></category>
		<category><![CDATA[Workplace]]></category>
		<guid isPermaLink="false">https://internationalfinance.com/?p=47708</guid>

					<description><![CDATA[<p>While being present in the office reduces productivity, mentoring increases it</p>
<p>The post <a href="https://internationalfinance.com/magazine/industry-magazine/work-from-office-more-productivity/">Work From Office: More Productivity?</a> appeared first on <a href="https://internationalfinance.com">International Finance</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>According to research by EY-Parthenon using the Bureau of Labor Statistics, employee productivity in the United States has declined for five consecutive quarters since 2022.</p>
<p>A new Slack poll found that over two-thirds of CEOs are under pressure to increase employee productivity.</p>
<p>One may accuse the top business executives of obstinately herding their staffers back to the office like lost sheep, hoping that productivity would magically increase, despite the overwhelming evidence that a flexible hybrid work model is more productive than forced in-office labour for the same tasks.</p>
<p><strong>Decoding the Bureau of Labor Statistics report</strong></p>
<p>The statistics revealed that productivity in the world&#8217;s largest economy has plunged by the sharpest rate seen since the 1940s.</p>
<p>Given that productivity grew by 4.3% in the first quarter of 2021, the highest rate the country has seen in years, the latest figure suggests a huge 360* shift in the attitude towards work.</p>
<p>Chief economist at the Kenan Institute of Private Enterprise, Gerald Cohen, suggested tech.co that the productivity boost in 2021 was probably due to the coronavirus recession, as businesses were forced to shift to remote work overnight, but the data also suggests that the switch to remote work was also a success, in terms of increasing the employee productivity.</p>
<p><strong>Myth of the ‘Magical Office’</strong></p>
<p>Many CEOs continue to hold onto the myth that the workplace is the key to productivity, despite the flexible work model proving its worth more than anyone anticipated during the COVID period. They act like the workplace is a vending machine for productivity: insert employees and get more output. However, the evidence paints a different picture.</p>
<p>The office is more like a productivity black hole than a productivity nirvana, where focused work gets dragged into oblivion during collaboration, socializing, mentoring, and on-the-job training flourish.</p>
<p>For instance, a recent study by academics at the University of Iowa, Harvard University, and the Federal Reserve Bank of New York discovered that software engineers seated in different buildings on the same campus produced more computer programs than those placed next to colleagues. The engineers that worked in various facilities made fewer comments on each other&#8217;s code, though. In other words, they were more productive, but as a result, less seasoned programmers received less mentoring.</p>
<p>Simply put, expecting the workplace to increase productivity is akin to expecting a fish to ride a bicycle. The workplace performs a very different and crucial function. According to the EY-Parthenon study, the forced return to work and declining productivity are directly related. Statistics show that people work longer hours but produce less goods. Therefore, we need to stop attempting to squeeze a square peg into a round hole.</p>
<p><strong>Using structured mentoring to balance work models</strong></p>
<p>While being present in the office reduces productivity, mentoring increases it. However, mentoring requires conscious effort. Unfortunately, many firms have unwritten ideas that if you jam employees into an office like sardines, mentorship will miraculously occur. This haphazard strategy&#8217;s effectiveness is comparable to tossing spaghetti at a wall and praying it sticks. Inconsistent, ineffective, and dependent on variables like location, office politics, and human dynamics, office-based mentoring, particularly full-time mentoring, can have a limited influence.</p>
<p>On the other hand, an organized mentoring program provides a more deliberate and successful approach by matching mentors and mentees according to their talents, interests, and goals. With the help of this focused approach, it is made sure that knowledge exchange and personal development are carefully developed and fostered rather than left to chance.</p>
<p>The best elements of both in-office and remote work can coexist in a hybrid workplace where structured mentoring programs can flourish. However, to maximize productivity and employee satisfaction without forgoing the advantages of face-to-face interactions, firms can use this balanced strategy to restrict in-office activities to mandatory mentoring sessions.</p>
<p>Companies can make use of the benefits of both in-office and remote employment in a structured mentorship program. Also, plan targeted in-person mentoring sessions or workshops that respect employees&#8217; need for flexibility in their work schedules while maximizing the advantages of face-to-face contact. When in-person interactions are not necessary, collaborative tools such as video conferencing, instant messaging, and instant messaging can help mentors and mentees communicate.</p>
<p>Moreover, setting clear goals and benchmarks for the mentoring relationship will make both sides more accountable and focused, maximizing the program&#8217;s effectiveness. Conventional one-on-one mentoring model can be avoided especially at the time when virtual seminars and forums can offer extra opportunities for knowledge sharing and building connections.</p>
<p>Tracking the development and performance of mentoring relationships allows businesses to pinpoint areas for improvement, hone their program over time, and guarantee its long-term effectiveness. The components that need to be added are autonomy and engagement.</p>
<p>The big irony of the office-centric mindset is that employee engagement and productivity losses suffer. According to a Gallup survey, employees who have the option to work remotely but are required to report to the office experience a lack of autonomy, which lowers engagement.</p>
<p>Consider the effects of this issue on the entire world: Low employee engagement, according to Gallup, cost the world an astounding $7.8 trillion in lost productivity in 2017. To put things into perspective, picture every CEO bashing their company&#8217;s piggy bank to pieces with a sledgehammer and then asking themselves why profits are down.</p>
<p><strong>Cognitive biases: The undetected barriers</strong></p>
<p>Cognitive biases frequently influence our decision-making when accepting flexible work and might skew our perception and judgment. Understanding these biases&#8217; effects can help us get past the mental obstacles that stand in the way of productive mentoring. Let&#8217;s look at two critical cognitive biases in this situation: the status quo bias and functional fixedness.</p>
<p>Status quo bias is a cognitive bias that makes people choose the current situation over change, even though that change would result in better results. This prejudice may have a significant impact on CEOs&#8217; and executives&#8217; attitudes toward the notion of flexible hybrid work and organized mentoring programs, making them stick with the old-fashioned office-based work style.</p>
<p>Due to their tendency to see change as a danger to the status quo, executives may find it challenging to see the advantages of flexible work arrangements and hybrid mentorship programs. As a result, they might choose to stick with the comfortable office setting rather than consider the research that shows the success of remote work and structured mentoring.</p>
<p>Functional fixedness is a cognitive bias that keeps people from considering other applications or solutions for a given issue because they are fixated on the conventional or comfortable method. Because they may be unable to see the potential benefits of flexible work and organized hybrid mentorship programs, this prejudice can substantially impact how firms approach workplace efficiency.</p>
<p>The functional fixedness bias may keep leaders firmly convinced that the workplace is the only setting that can foster productivity. As a result, even when given strong proof, individuals could not see the possibilities of flexible work arrangements and hybrid mentorship programs.</p>
<p><strong>Rethinking the workplace: A fresh approach</strong></p>
<p>It&#8217;s time for CEOs to embrace the flexible work revolution and jump off the sinking ship of mandated in-office employment. Although cooperation, mentoring, and training can occur in the office, productivity is not one of them.</p>
<p>Let&#8217;s create work arrangements specific to each person&#8217;s function and preferences rather than putting everyone into the same box. It&#8217;s time to quit denying reality and accept that flexible hybrid work is the way of the future and will remain so. The only way to stop the spiralling decline in productivity and unlock the workforce&#8217;s full potential is to accept this fact.</p>
<p>It is abundantly evident from the research that returning to work under duress will not improve productivity—instead, it will exacerbate it. As demonstrated over the previous five quarters, forcing staff members back into the office is like beating our heads against a brick wall and expecting a different result. The moment has arrived for CEOs to abandon their antiquated beliefs and embrace the revolution in flexible hybrid employment.</p>
<p>The evidence overwhelmingly suggests that returning to the office does not increase productivity. The workplace is better suited for collaboration, socializing, and mentoring, while focused work gets dragged into oblivion. Companies must reevaluate their strategies and embrace the flexible work revolution to maximize productivity and employee satisfaction.</p>
<p>Companies can use structured mentoring programs to balance the benefits of both in-office and remote work. It&#8217;s time for CEOs to abandon their antiquated beliefs and embrace the revolution in flexible hybrid employment to unlock the workforce&#8217;s full potential.</p>
<p>The post <a href="https://internationalfinance.com/magazine/industry-magazine/work-from-office-more-productivity/">Work From Office: More Productivity?</a> appeared first on <a href="https://internationalfinance.com">International Finance</a>.</p>
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		<title>Dell backtracks on remote work promise, asks staff to return to office</title>
		<link>https://internationalfinance.com/markets/dell-backtracks-remote-work-promise-staff-return-office/#utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=dell-backtracks-remote-work-promise-staff-return-office</link>
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		<dc:creator><![CDATA[IFM Correspondent]]></dc:creator>
		<pubDate>Tue, 16 May 2023 04:36:46 +0000</pubDate>
				<category><![CDATA[Featured]]></category>
		<category><![CDATA[Markets]]></category>
		<category><![CDATA[Dell]]></category>
		<category><![CDATA[Dell Hybrid Work]]></category>
		<category><![CDATA[Dell Remote Work]]></category>
		<category><![CDATA[Hybrid work]]></category>
		<category><![CDATA[pandemic]]></category>
		<category><![CDATA[remote work]]></category>
		<category><![CDATA[Work from home]]></category>
		<guid isPermaLink="false">https://internationalfinance.com/?p=47014</guid>

					<description><![CDATA[<p>Even if Dell is one of many businesses requesting that employees return to work, there is no consensus</p>
<p>The post <a href="https://internationalfinance.com/markets/dell-backtracks-remote-work-promise-staff-return-office/">Dell backtracks on remote work promise, asks staff to return to office</a> appeared first on <a href="https://internationalfinance.com">International Finance</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>Despite assuring staff that they may, when appropriate, continue to work from home, Dell is now reportedly backtracking on its ‘promise’ and requesting that staff members report to the office.</p>
<p>Instead of focusing on specific job tasks, Dell asks employees within an hour of the headquarters to work from there three days a week.</p>
<p>They have requested employee presence on an &#8220;as soon as you can arrange it&#8221; basis, acknowledging that the news may make it difficult for certain employees to locate adequate provisions, such as daycare.</p>
<p><strong>Back To Office</strong></p>
<p>The announcement comes from COO Jeff Clarke, who sees the action as defining what hybrid working means for the organization more precisely.</p>
<p>Early in the COVID period, Clarke said that work is &#8220;a result, not a location or a time,&#8221; and nearly two-thirds of corporate workers can continue working remotely.</p>
<p>&#8220;After all of this investment to enable remote everything, we will never go back to the way things were before,&#8221; Clarke said in a Q2 2021 earnings call. </p>
<p>&#8220;Here at Dell, we expect, on an ongoing basis, that 60% of our workforce will stay remote or have a hybrid schedule where they work from home mostly and come into the office one or two days a week,&#8221; he stated back then.</p>
<p>Dell also talked about his company&#8217;s productivity is at an all-time high in a September 2022 LinkedIn blog post, defending the remote work culture and stating that forced office work is &#8220;doing it wrong.&#8221;</p>
<p>This move is a return to pre-pandemic normality rather than a compromise when employees typically spend around half the week at the office as part of a hybrid schedule. </p>
<p>Even if Dell is one of many businesses requesting that employees return to work, there is no consensus. For example, workers were outraged when Amazon urged them to return to work in early 2023. Google attempted the same thing but instructed staff members in its Cloud division to share a desk with a coworker twice weekly. </p>
<p>On the other end of the spectrum, Microsoft released a study showing that employees were indeed productive at home (and sometimes much more so); it was that managers lacked trust in their staff.</p>
<p>In any case, Dell is only one of many businesses beginning to resume office-based labour. </p>
<p>A firm representative stated, “We informed our team members that we would resume more flexible and hybrid work as the world adapted to life after the pandemic. The future workplace will be hybrid, and our culture&#8217;s commitment to flexibility will be a critical differentiation. Team members should prepare to be on-site at least three days per week if they live within an hour or less of a significant Dell office. We will work with team members individually if they require a full-time remote work schedule.”</p>
<p>The post <a href="https://internationalfinance.com/markets/dell-backtracks-remote-work-promise-staff-return-office/">Dell backtracks on remote work promise, asks staff to return to office</a> appeared first on <a href="https://internationalfinance.com">International Finance</a>.</p>
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		<title>Work From Home culture takes over biz world</title>
		<link>https://internationalfinance.com/magazine/industry-magazine/work-from-home-culture-takes-over-biz-world/#utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=work-from-home-culture-takes-over-biz-world</link>
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		<dc:creator><![CDATA[IFM Correspondent]]></dc:creator>
		<pubDate>Thu, 15 Dec 2022 12:00:21 +0000</pubDate>
				<category><![CDATA[Industry]]></category>
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		<category><![CDATA[COVID]]></category>
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		<category><![CDATA[Sun Microsystems]]></category>
		<category><![CDATA[Tesla]]></category>
		<category><![CDATA[WFH]]></category>
		<category><![CDATA[Work from anywhere]]></category>
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		<guid isPermaLink="false">https://internationalfinance.com/?p=46336</guid>

					<description><![CDATA[<p>Companies can maintain a better staff retention ratio, if they pass on the WFH benefits to staffers with parental responsibilities</p>
<p>The post <a href="https://internationalfinance.com/magazine/industry-magazine/work-from-home-culture-takes-over-biz-world/">Work From Home culture takes over biz world</a> appeared first on <a href="https://internationalfinance.com">International Finance</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>After the COVID-19 outbreak in China’s Wuhan in late 2019, the year 2020 brought a culture shock for the traditional office rulebooks as the whole world went into lockdown mode by March. To stop the transmission of this contagious respiratory virus, Work From Home (WFH) and Remote Workplaces emerged. After two years of strict pandemic rules and aggressive vaccination campaigns, now normalcy is getting restored again across the globe.</p>
<p>While the WFH has shown that employees can produce the same office-like productivity from their homes, with help of personal computers/laptops and good internet connections, no one can deny the role workplaces play in areas such as team collaboration, employer-employee networking and most importantly, mental health of the professionals. Technology is powering up the Hybrid Work culture, where the staffers on alternative days, can perform their duties from anywhere instead of reporting to the offices.</p>
<p>While the office properties of the companies are still facing the COVID aftershocks ahead of the recession madness, they still remain a major component of the white-collar economy. The following are some of the trends and success formulas that companies can follow in this &#8216;Flexible Office&#8217; environment, without compromising on the basic work cultures.</p>
<p><strong>Decentralisation the key</strong></p>
<p>With technology driving the 21st-century economy, decentralisation is becoming the mantra for businesses. Sitting from their headquarters, the business leaders can connect to their employees and clients through video calling tools such as FaceTime, Skype, Zoom, and Google Meet to conduct meetings.</p>
<p>As per reports, as the US white collar workers worked from suburbs and second and third-tier cities in the last two years, there is still a great demand for office spaces as the pandemic wanes and these employees feel the urge of having a formal work atmosphere. The study also said that despite embracing the tech, companies are looking for solutions such as downsizing main headquarters and opting for smaller office spaces available in suburban markets. It’s a win-win situation for both parties as the property markets in small cities get boosted, while the businesses can maintain their diverse profile by attracting more job seekers from such regions. These smaller offices can stay in touch with their headquarters in the form of virtual communication tools. The businesses not only get exposed to a wider range of regional economies, but also can come up with region-specific operations strategies.</p>
<p><strong>Flexible offices are here to stay</strong></p>
<p>A recent YardiKube survey saw over 90% of US businesses preferring formal office setups to ensure companies’ well-being. Artificial Intelligence data said that employee footfalls in workplaces haven’t reached the 2019 level. In August this year, the office visit rate saw a 17.4% rise from what the ratio was in early 2022. Another Gallup poll showed that the workers’ preference for the hybrid model is rising.</p>
<p>While big shots such as Apple and Tesla have asked their employees to return to the office, media reports have talked about logistical nightmares such as fewer work desks in these places. While most workplaces are undergoing post-COVID transformations, there are concerns over social distancing rules, forcing the companies to increase their office footprints to decongest workspaces. Some businesses have even opted for an alternative reporting days model, where their employees can do work from home on certain days in a week.</p>
<p>Crexi&#8217;s study has reported an 18% increase in the amount of US co-working spaces, along with a shrinking commercial property market, as businesses are quickly grabbing up whatever new buildings are available. It shows one thing, as the recession nears, investing in co-working spaces, rather than building a new headquarter from scratch, makes more sense for the businesses. A recent Gartner survey has said that three out of four finance executives may move a minimum of their 5% onsite workers to permanent remote workplace arrangements.</p>
<p><strong>How does this solution help?</strong></p>
<p>If we take the US white collar market, branded businesses are already reaping the benefits of the Work From Anywhere pattern, as per reports. Tech firm Sun Microsystems are saving some USD 68 million in real estate costs in a year, while Dow Chemical and Nortel didn&#8217;t have to spend over 30% of their non-real estate capital. Global WorkplaceAnalytics study saw some six of its 10 survey participants talking about cost savings, a major plus from this WFH solution.</p>
<p>Areas such as commercial property rent and utilities, cleaning services, cafeteria services, taxes, vehicle parking fees, employee health insurances, stationeries and electricity bills witnessed major spending decline in the last two years for some of the businesses. On the staffer front, many first-time job seekers too are now opting for flexible work patterns, so that they can balance professional and personal commitments. A Business.com report has also said that the companies can maintain a better staff retention ratio, if they pass on the WFH benefits to staffers with parental responsibilities. lt helps your business to see an improvement in employee retention.</p>
<p>A Stanford study too has found that despite not reporting to the office, 13% of its surveyed remote workers are showing more productivity than their on-site counterparts. Minus the disadvantages of being surrounded by noisy colleagues and commuting-related stresses, these staffers have displayed the traits of maintaining calm minds and sharp focus on their professional commitments. As per a Hubstaff report, 65% of US workers believe they are super productive, while working from home. Around 85% of the surveyed business leaders agreed with the fact.</p>
<p><strong>Remote work policy beneficial for employees and jacks up company profiles as well</strong></p>
<p>Work From Home comes with the perk of the staffers having better time management skills to maintain their work-life balance. A Multiplier survey cited some 84% of its survey participants backing the remote working method as having a positive impact on their mental health as well. While it increases their gratefulness quotient towards the employee, the business leaders can use that factor to increase the team productivity by asking his/her juniors to increase their shifts by a few hours, if the need arises.</p>
<p>US-based software firm Coso Cloud, in its recent surveys, identified some 35% of staffers using their spare time for some sort of physical exercise, thanks to the Work From Home. With a good diet, they can remove the job-related burning out factor as well, boosting their productivity even more. Not to mention the cost-saving aspect as well, where they don&#8217;t need to spend on their daily commuting, food and office dresses, stationery and other things. Also, they can invest some spare time in their hobbies as well.</p>
<p>While Census Bureau Data 2018 mentioned that the US workers lose 117.7 minutes in a week on commuting alone, the ratio reaches 96 hours in a year. A 2019 study from the leading freelancing website ‘Upwork’ stated that by 2028, 73% of United States businesses will have remote staffers. It also said that the companies will be offering commercial spaces in their staffers’ resident cities, which can be used as a company based in that geographical territory, with tech support connecting them with the main headquarter. The report highlighted the importance of having a mixed and merged workforce, which now has emerged as a ‘Hybrid Workforce’.</p>
<p>A ‘Slack’ report has said that some 78% of professionals now want flexibility when it comes to reporting to work. Instead of jostling in cramped cubicles, they are giving preference to the hybrid workplace concept. Shifting to the work-from-home concept has been beneficial, especially for those, who went back to their hometowns during the COVID pandemic and global lockdowns. If they would have been staying in the cities, where their offices are, they would have to spend money on their food and accommodation rents, which currently are not required, if they are reporting to their duties from their hometowns themselves, through the help of tech.</p>
<p>Talk about the pre-pandemic days, when your work-life balance would have easily gone into the thin air, thanks to the juggling between your professional tasks, presentation deadlines and household chores, family commitments. Thanks to the hybrid work culture, the stress levels on this particular front are now slowly coming down among the workers. They can spend most of their time with their near and dear ones, and celebrate birthdays and anniversaries without opting for too many holidays. A bunch of happy, satisfied and grateful employees is all businesses need at the end of the day to keep the productivity level going.</p>
<p>Tesla CEO Elon Musk has jumped into the debate, saying that his staffers can work from home, as long as they clock 40 reporting hours in a week. As per a Stanford economist, working from home is driving growth at companies across the globe and some other studies have already supported his claim. One of them even found that 77% of workers witnessed increased productivity in the hybrid atmosphere.</p>
<p>For businesses, having a flexible work pattern means fewer distractions in form of office chit-chat sessions between the team members, on a bigger picture, this flexibility model can be a big boost for the companies, as they will get branded as &#8216;progressive&#8217; ones, embracing the work culture related changes much faster than their competitors.</p>
<p>Having a remote-first work policy can help these companies not only to tap the young workforce with promises such as better work-life balance and tech-friendly workplace, but these leaders can also present this narrative of decreasing the carbon footprint with the Work From Anywhere method. They can also cover the time zone-related gaps in their business operations by hiring talents across all parts of the world, ensuring they remain 24/7 up for their duties.</p>
<p>Flexible workplaces will remain relevant in the future as well, as it offers the much-needed work-life balance for the workers, while business leaders can save costs and increase team productivity with the effective use of technology. It’s a win-win situation for both sides. The commercial real estate sector has always shown resilience against inflation and interest rate hikes, which means that the companies which are going for regional, decentralised workplaces, may come up with their own headquarters in near future.</p>
<p>The post <a href="https://internationalfinance.com/magazine/industry-magazine/work-from-home-culture-takes-over-biz-world/">Work From Home culture takes over biz world</a> appeared first on <a href="https://internationalfinance.com">International Finance</a>.</p>
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		<title>How to make hybrid work right</title>
		<link>https://internationalfinance.com/magazine/logistics-magazine/how-make-hybrid-work-right/#utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=how-make-hybrid-work-right</link>
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		<dc:creator><![CDATA[IFM Correspondent]]></dc:creator>
		<pubDate>Wed, 15 Jun 2022 07:51:17 +0000</pubDate>
				<category><![CDATA[Logistics]]></category>
		<category><![CDATA[Magazine]]></category>
		<category><![CDATA[Hybrid work]]></category>
		<category><![CDATA[productivity]]></category>
		<category><![CDATA[remote work]]></category>
		<guid isPermaLink="false">https://internationalfinance.com/?p=44113</guid>

					<description><![CDATA[<p>A study by Microsoft titled ‘Work Trend Index’ found that currently, 38% of workplaces in the US have adopted a hybrid policy.</p>
<p>The post <a href="https://internationalfinance.com/magazine/logistics-magazine/how-make-hybrid-work-right/">How to make hybrid work right</a> appeared first on <a href="https://internationalfinance.com">International Finance</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>It has been more than two years since the onset of the pandemic, a once-in-a-century phenomenon that cost millions of lives all over the world. It has also shaped the white-collar job scene forever. Never before was there an emphasis on remote work, irrespective of industries. </p>
<p>It made sense as without a foolproof way to protect people from the virus, remote working would ensure that workers are relatively safer. This ensured that productivity was maintained at least to a certain level while workers felt confident within the safety of their homes and with their near and dear ones. </p>
<p>But now, after three major waves of infections and two mandatory doses of vaccination, the risk of contracting a severe infection from COVID-19 is waning by the day. But remote workers who were forced to adapt to work from home without a viable second option are reluctant to come back to the office for more than one reason. So managers and top executives of major companies have settled for the midway approach of hybrid working. This would mean that for a select few days of the week, employees would have to come to the office for several reasons that the top management thinks are non-negotiable. </p>
<p>But the response to this hybrid approach unlike the anticipated ‘best of both worlds’ was at the best lukewarm.</p>
<p>A study by Microsoft titled ‘Work Trend Index’ found that currently, 38% of workplaces in the US have adopted this hybrid policy with another 15% more likely to join the bandwagon by the next year. </p>
<p>“One thing is clear: We are not the same people that went home to work in early 2020. The collective experience of the past two years has left a lasting imprint, fundamentally changing how we define the role of work in our lives. The data shows the Great Reshuffle is far from over. Employees everywhere are rethinking their “worth it” equation and are voting with their feet. And as more people experience the upsides of flexible work, the more heavily it factors into the equation. For Gen Z and Millennials, there is no going back. And with other generations not far behind, companies must meet employees where they are,” the study noted.</p>
<p>It is not only in the US that this trend has surfaced. Japan, across the shores which is infamous for its lack of work-life balance and long in-office, stays in the pre-pandemic days is seeing a change in the winds too. Fujitsu, a leading IT company in Japan had found that 74% of their total workforce opined that the office was the best place to work in the pre-pandemic phase. But in a survey conducted in May 2022, an overwhelming 55% of them say that they will like to work from home and office in a flexible manner with 30% opining that they would work from home all the time given an opportunity.</p>
<p>But while it may seem elementary that it is work from home for most of the week and just two days of old-school work from the office, the dynamics in practicality can be a lot different.</p>
<p>No wonder, Microsoft’s CEO, Satya Nadella at the time of releasing the Microsoft 2021 Work Trends Index Annual Report said: “Over the past year, no area has undergone more rapid transformation than the way we work. Employee expectations are changing, and we will need to define productivity much more broadly — inclusive of collaboration, learning, and well-being to drive career advancement for every worker, including frontline and knowledge workers, as well as for new graduates and those who are in the workforce today. All this needs to be done with flexibility in when, where, and how people work”. </p>
<p>Meanwhile, a survey conducted by the Pulse of the American Worker found that 87% of people want to work from home at least 1 day of the week. 68% of American workers say the ability to work remotely and on-site is the perfect work model.</p>
<p>According to the Remote Work &#038; Compensation Pulse Survey, only 8% of remote employees are willing to return to work full-time following the pandemic. While 48% of workers prefer to work from home full-time, the remaining 44% want to work from home part-time throughout the week. </p>
<p>The survey found that around 83% of employees would leave their current job if their pay was reduced as a result of working remotely.</p>
<p>According to Stanford research, 55% of respondents prefer to spend some time at work and some time at home. The report stated that around 25% of workers prefer to work from home full time and 20% exclusively want to work in an office.</p>
<p>The study also found that some employees would try working from home but soon find it to be too lonely. Some people grew addicted to one of three things: television, refrigerator, or bed, and returned to their office.</p>
<p>A survey by owl labs found that in the United States, 87% of workers would like a 10-hour/4-day work week, while 82% would prefer core working hours.</p>
<p>According to a recent survey by an economist, 34% of respondents claimed that face-to-face interruptions from coworkers are the most common reason they lose attention at work. Working at home made 36% of respondents feel more focused than working in an office while working in an office made 28% feel less focused.</p>
<p>Does this mean the hybrid model of work may be the superior choice for many businesses? At this point, it may be too early to say but the next couple of years will let us know for sure.</p>
<p>Assessing which roles are most suitable for remote working, onsite working, or hybrid working is important. This will assist in establishing the long-term goals and ambitions for work in the future.</p>
<p><strong>Hybrid work models are used by 63% of high-growth companies</strong><br />
An Accenture report noted that regardless of where you are located, ensuring your workforce is healthy and productive will yield bottom-line benefits. The report found that 63% of high-revenue growth businesses are adopting productivity anywhere hybrid workforce models.</p>
<p>The concept of blended workforces is rejected by 69% of organizations with negative or no growth, who prefer all onsite or all remote staff. A hybrid strategy is preferred by 83% of workers.</p>
<p>Meanwhile, employees and employers who participated in the Remote Work &#038; Compensation Pulse Survey in May 2021 expressed a desire to be entirely remote 48% of the time. Hybrid working arrangements were preferred by 44% of employees. Employers support the mixed work paradigm 51% of the time, while only 5% cite entirely remote work as an option.</p>
<p><strong>Gen Z employees want some form of onsite work</strong><br />
Gen Z employees want to experience onsite work in some form, Accenture’s report reveals, despite growing up in an era of selfies, texting, and virtual reality.  </p>
<p>More than 74% of Gen Z respondents prefer interacting with colleagues face-to-face, followed by Baby Boomers (68%), and Gen Xers (66%).  </p>
<p><strong>Will compensation change for remote employees or hybrid employees?</strong><br />
A recent remote work survey by salary.com also found the following. 92% of employers do not have a system in place for determining compensation for employees who work remotely only part of the time. There is no formal mechanism for establishing remuneration for remote workers for 72% of firms.</p>
<p>Over 97% of firms said they will not lower pay for workers who work partially from home. However, 21% of employers would make salary adjustments based on an employee&#8217;s contribution, geographic location, and worries about company culture. During the pandemic, 9% of employees transferred to another area, making it hard to return to work full-time.</p>
<p>In a survey of 94% of employees, they believe that salaries should be determined by skill set and not where they are located. In determining remote pay for new hires, 25% of employers take different factors into consideration.</p>
<p>Employers surveyed said they would consider the following factors when determining pay: Competitiveness outside the organization (67%), Competitiveness inside the organization(58%), Cost of living expense (43%)</p>
<p>According to 34% of employers polled, a full-time remote employee in a different geographic market would not be hired at the same rate as an on-site employee.  </p>
<p><strong>Does the hybrid work model cost more for employers?</strong><br />
In a recent survey conducted by Prudential Financial Inc., 34% of workers said their employers should provide resources to establish a home office. Whereas 33% of workers said their employees should be reimbursed for expenses associated with remote work.<br />
The Remote Work &#038; Compensation Pulse Survey by salary.com found that 51% of employers expect employees to have to return to the workplace. However, provide them with the flexibility to work remotely part of the time.</p>
<p>Should companies pay these work-from-home expenditures if employees have the option to work in the office full-time? Businesses will need policies in place when addressing these questions by their remote and hybrid workforce.</p>
<p>Having the same systems for both office and remote work could cost employees double for some of the equipment needed. A few of these include phone systems, fast internet access, security, and more.</p>
<p>Employers will also have to think about hiring remote workers from states where they do not have a physical presence. This could include paying higher unemployment taxes and navigating new labor laws in the state where the person works.</p>
<p>Due to contradictory state regulations, employees in some areas may suffer double taxation.</p>
<p>When crafting policies and establishing guidelines there are several things to consider. Businesses should carefully plan and check what specific requirements states require in the locations they plan to hire remote workers.</p>
<p>If a company is searching for contract remote workers, staffing services can help them with these challenges.</p>
<p>On the other hand, if there are fewer employees in the office on a given day, businesses will need to lease less office space. In new leases, employers should also try negotiating a rent deferral or abatement. They should do this in case the state or government declares them ineligible to work owing to a future pandemic. </p>
<p><strong>Synchronous vs asynchronous</strong><br />
It is crucial to remember that not everyone has the same working schedule or is in the same time zone when doing hybrid work. Working in an asynchronous manner can be a useful best practice strategy to adopt to increase productivity. Asynchronous communication is the practice of communicating and pushing projects forward without requiring other stakeholders to be available at the same time. Communication in an office is largely synchronous.</p>
<p>In other words, it is far from simple to figure out how to do this. That is because, in order to correctly design hybrid work, you must consider two axes: place and time.</p>
<p>The axis of location is currently receiving the greatest attention. Millions of workers throughout the world, including Fujitsu&#8217;s employees, have abruptly switched from being place-constrained (working in an office) to becoming place-unconstrained this year (working anywhere). Many people have also made a change down the time axis, from being time-constrained (working in lockstep with others) to becoming time-unconstrained (working asynchronously whenever they choose).</p>
<p>For best efficiency, a deliberate balance between synchronous and asynchronous is beneficial. Working asynchronously is not a goal in and of itself; it is about being considerate and choosing to forward a topic or project asynchronously when possible. This allows for more synchronized moments.</p>
<p>Asynchronous work that is extremely capable nevertheless allows for some synchronous dialogue.</p>
<p><strong>Negotiating personal choices</strong><br />
The other factor that will ensure the success of hybrid models is how flexible they are to cater to the personal preferences of individual workers. It can be as simple as some people are most productive at the beginning of the day while some may gather steam post-lunch.</p>
<p>Depending on our particular preferences, our ability to work at peak productivity and performance differ substantially. By considering employees&#8217; preferences when designing hybrid work, it will make it easier for others to understand and accommodate those choices.</p>
<p>Companies on the hybrid path are figuring out how to incorporate their workers&#8217; viewpoints. Many companies are providing managers with simple diagnostic survey tools to better understand their teams&#8217; personal preferences, work contexts, and key tasks—tools that allow them to learn, for example, where their team members feel most energized, and whether they have a well-functioning home office, and what their needs for cooperation, coordination, and focus are.</p>
<p><strong>Maintaining workflows</strong><br />
To make hybrid work, one must consider how work is completed. In the age of hybrid labor, it has become far more complicated. And usually, there are two more preferred ways to deal with the issue. As employees shift to more flexible work arrangements, one option is to greatly increase the use of technology to coordinate tasks. Robotic devices that move around the plant can be deployed to aid the work process which can record comprehensive in-the-moment visual data. This data then can be transmitted back to all team members for examination.</p>
<p>According to studies, many firms still have a long way to go when it comes to remote working best practices and employee well-being.</p>
<p>Longer hours, continuous video conversations, and merging business and personal lives are not conducive to employee contentment over time. According to a survey conducted by Monster, a job-search company, more than two-thirds of remote workers are experiencing burnout symptoms.</p>
<p>The other way is to take this new tectonic shift as an opportunity to re-engineer workflows that are used from pre-pandemic times and in a way, reinvent the wheel or design a new way to move forward.</p>
<p>Existing harmful practices should never be replicated in new hybrid arrangements, as was the case decades ago when corporations began automating work procedures. Many organizations just overlaid new technologies atop existing processes, thereby repeating their weaknesses, idiosyncrasies, and workarounds. Companies typically did not start making use of new technologies until years later, after several costly rounds of reengineering.</p>
<p>The starting point for this can be to figure out if any of the tasks in the current workflow system are unnecessary or needlessly cumbersome. The other aspect to consider is can some of the tasks be automated with the right application of technology. Also, workplaces need to be redesigned to ensure the best possible environment for collaboration, cooperation, and communication. </p>
<p>The post <a href="https://internationalfinance.com/magazine/logistics-magazine/how-make-hybrid-work-right/">How to make hybrid work right</a> appeared first on <a href="https://internationalfinance.com">International Finance</a>.</p>
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		<title>Is Hybrid work the worst of both worlds?</title>
		<link>https://internationalfinance.com/asset-management/hybrid-work-worst-both-worlds/#utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=hybrid-work-worst-both-worlds</link>
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		<dc:creator><![CDATA[IFM Correspondent]]></dc:creator>
		<pubDate>Fri, 08 Apr 2022 06:25:30 +0000</pubDate>
				<category><![CDATA[Asset Management]]></category>
		<category><![CDATA[Featured]]></category>
		<category><![CDATA[Forrester]]></category>
		<category><![CDATA[Google Hybrid work]]></category>
		<category><![CDATA[Hybrid work]]></category>
		<category><![CDATA[productivity]]></category>
		<category><![CDATA[remote work]]></category>
		<category><![CDATA[Washington Post]]></category>
		<guid isPermaLink="false">https://internationalfinance.com/?p=43692</guid>

					<description><![CDATA[<p>Market research firm Forrester predicts that a third of all companies choosing hybrid mode will be forced to change their policy. </p>
<p>The post <a href="https://internationalfinance.com/asset-management/hybrid-work-worst-both-worlds/">Is Hybrid work the worst of both worlds?</a> appeared first on <a href="https://internationalfinance.com">International Finance</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>Hybrid work may seem like a meeting point between the two extremes of remote work and regular office hours, but it is proving to be counterintuitive for many.  Contrary to the expression of ‘best of both worlds, it is evoking a feeling of dismay among employees after two long years of remote work due to the pandemic. But with the infection rates seemingly under control, many companies are insisting that employees report to the office at least for some days in the week. </p>
<p>For many, it is costing them the healthy workday routine that they had developed over the last two years during their remote work tenure. An account of a media company assistant featured in the Washington Post states how a Pennsylvania-based woman has to restrict her walking, cooking, and other leisurely activities only for weekends without adding any value to her work. This is simply because for three days of the week she has to spend an hour driving to the office which leaves her fatigued.</p>
<p>Unlike this media assistant for other workers, it is more than just an hour and fatigue, with more and more companies including majors like Google adopting the part remote and part office set up. Some say that organizing their office hardware is a task as they have to shift between two workstations in a span of days.</p>
<p>And this system is touted to change as market research firm Forrester predicts that while 60% of all offices will elect for hybrid work culture, 20% of them will be forced to a re-think.</p>
<p>The Washington Post article quotes a software engineer at Google, who is also part of the workers’ union, expressing his disappointment over the apparent unilateral decision by the company to switch to this hybrid work setting.</p>
<p>Another situation arising out of this hybrid work setting is the lack of consensus over choosing which days to report to the office among workers. This is leading to many turning up to their offices and finding themselves alone negating the advantages of an office presence.</p>
<p>The post <a href="https://internationalfinance.com/asset-management/hybrid-work-worst-both-worlds/">Is Hybrid work the worst of both worlds?</a> appeared first on <a href="https://internationalfinance.com">International Finance</a>.</p>
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