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Blog summary;
- Employee’s and employers both cite advantages to working from home
- Advantages remote employees may not know they are missing out on
- Considering leaderships remote policy when researching Value companies
The Landscape Has Changed
The 2020 COVID pandemic and the first ‘shelter-in-place’ directives forced companies around the world to quickly shift from in-person to remote work if they wanted to stay in business. Now 2 years later many are still working from home.
There is a good deal of conversation going on about what remote versus in-person work will look like post-pandemic. Many, especially Gen Zers (those born in the late 1990s) relish the remote work vibe, citing things like flexibility, reduced commute time and cost, or the increased ability to spend time with family.
Employers too note advantages in a decreased need for office space and, contrary to initial concerns, higher productivity. According to a 2021 FlexJobs survey, a whopping 97% of workers want some type of remote work (either a fully or partially remote schedule) in the future, with a good number of employers willing to comply.
But is it Good For Us
Despite so many workers asking for a remote situation, is this ultimately in everyone’s best interest long-term? An article published this week by the Wall Street Journal took a dive into all the realities of remote work and found that while yes, many do benefit from the less than traditional work situation, there is a rich culture and experience they stand to lose in return.
Here are just a few advantages remote workers may be missing out on;
- Personal Connection
Not going into the office or even living in the same city as your co-workers means that you never have the opportunity to form live relationships, grab drinks after work, or engage in relationship-building “watercooler” conversations that could lead to lasting friendships or even romantic relationships.
- Professional Connection
Without the ability to pop into someone’s office or even overhear some conversations, younger remote employees often live in a bubble. They struggle to develop mentor-like relationships with more experienced colleagues or create the networking opportunities afforded by taking a coffee break or riding an elevator together.
- Connection and Social Cues
As humans, we often want to feel we are part of something and that our contributions are valuable. There can be something electric about the collaborative energy when a group is brainstorming that doesn’t translate well in a Zoom session.
Similarly, receiving a short email or message from a supervisor that simply reads “good job” and took 3 hours to receive can leave an employee wondering “Is she mad at me? Why did it take so long to respond? Am I really doing a good job?” Without the ability to read body language, or listen to the tone of voice, it’s quite difficult to understand the intent behind the message.
And without some of those subtle social cues, many younger employees report struggling with what’s known as “imposter syndrome” – a fear that everyone knows they “don’t know what they are doing”, and leading them to doubt their own abilities.
Even though the vast majority of workers report wanting more flexibility, those that work remotely are less likely to develop meaningful relationships or a sense of loyalty to a manager or company, making quitting and finding something else that much easier.
For employers wanting to reduce turnover, this itself can create a double-edged sword; finding a balance between enticing new employees who desire remote schedules, but then creating the ability to connect with them and retain them long-term.
When researching investment opportunities, understanding management style and vision is a key component to the Value Investing strategy. Considering how leadership plans to navigate long-term remote work is something that likely never came up in the past but is most certainly relevant today. The workplace landscape has changed. The average worker profile has changed. Companies that demonstrate the ability to adapt now will help usher in the next generation and will hopefully remain relevant and profitable into the future.
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