C-Suite Blind Spot – Remote Workforce Results – The July 2020 Report Card

Blind Spot

As we exit July, we are coming up on five months since the shock and uncertainty of Covod19 sent the US workforce scrambling for home. While the hangover lingers, what are executives thinking as they start to report longer term results and experiences with remote work? As results trickle in the question remains, what is the long-term fate of the “face to face” office concept? Will it be a thing of the past?

The speed at which 76% of corporate America transformed into a remote workforce is remarkable. A number of notable corporations such as Facebook, Twitter, Shopify, Nationwide, Barclays Capital, and others have stated that they will switch to a majority remote workforce in the next 5 to 10 years. Is this an indication that the workforce is successful and sustainable? Will the 55% of senior executives who indicated in the June 2020 PwC Survey they would extend some form of remote work for their workforce post Covid19 in fact stay the course post Covid19?

Illumination

There is no question that there are many benefits for employees working remotely - no commute, reduced meetings, less distractions, etc. According to a recent IBM Institute for Business Value study 75% respondents would like to continue remote work occasionally, while more than half want it to be their primary way of working moving forward. However, the question remains, is remote work good for corporations’ long term? Will the expected positive outcomes expressed by many CFO’s regarding remote work pay off? What about remote work fatigue? Early indications are that there may in fact be cracks in the results.

The first cracks appeared in a mid-July article by the Wall Street Journal. The article reported on feedback from corporations four months into the pandemic. The piece cited feedback from a cross-section of large and smaller corporations such as Canon Solutions America (division of Canon Inc), Jones Lang LaSalle, Discover Financial Services, Humu, and OpenExchange.

Collectively these companies cited the following challenges being experienced with their remote workforce:

· Workers appear less connected

· Projects are taking longer – logistical difficulties

· Creativity is hampered; fluid and spontaneous conversations are not occurring via Zoom calls

· Managers fear younger professionals are not developing at the same rates as in the office when working directly with experienced managers

· Hiring, training and integrating new employees is more complicated

· A lack of in-person and in-office interaction is hindering learning and performance

As executives continue to consider the optimal organizational structure for their corporations the most important factor is to determine what works best – for them. Now that the barriers are not as constricting, this presents a unique opportunity to start with a clean slate and create the optimal structure for their organization. Whether it’s a hybrid, a return to the traditional or a full shift to remote work – use a formula that works for you.

The key to my success in setting three World Records, was always starting with a clean slate, and assembling a diverse team of specialized individuals who were experts in their fields. Together, we were able to develop strategies that helped me to identity, address and eliminate my “blind spots”.