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Here’s what you need to know today:
- Which Workplace Trends Will Stick In The Future? NEW
- Breather Sued By New York City Landlord NEW
- The Role Of HR In Supporting Employees NEW
- How HR Professionals Can Help Guide Remote Workers
- Europe’s Workforce Could Become Increasingly Remote
- The New Future Of The Workplace
Which Workplace Trends Will Stick In The Future?
The last several months have undoubtedly altered the way we work now and in the future. While some of the trends that have emerged are expected to stick in the long-term, not every new change has worked for companies.
For starters, working from home has been a necessity this year to keep workers safe from the spread of COVID-19. There are plenty of perks to this arrangement, such as a lack of commute, a better work-life balance, lower real estate costs and more.
Additionally, the competition for talent is growing steadily as younger professionals have come to expect remote working policies when looking for new opportunities.
Even more, research has indicated that workers prefer the flexibility of this arrangement.
However, remote working does not solely mean working from home. Instead, it can mean working from anywhere, including a coffee shop or in an office closer to a workers’ home.
Another anticipated change is the adoption of even more virtual tools to support a distributed workforce, but this does not mean the end of the office.
Instead, companies will look towards a more hybrid work arrangement that combines both the office and working from anywhere.
Simply put, when navigating which strategies to take with them in the new year, companies must identify whether these policies made people’s lives better, saved the organization money and improved overall workplace culture.
Breather Sued By New York City Landlord
Landlord Pink Stone Capital has filed a lawsuit against Breather to remove the flexible office firm from a SoHo building.
This news follows soon after Breather revealed it would be closing down all of its locations as part of its efforts to become an online flexible office platform.
The lawsuit filed this week claims that Breather owes $79,000 in unpaid rent at its two-floor, 12,777 square foot location on 54 Thompson Street since July.
Pink Stone terminated the lease this month, requesting that Breather leave on the first of the month, but it has still yet to leave.
“We were in negotiations a little over a month ago over payment of money, they ended now, and no one is calling us back,” said Adam Leitman Bailey, an attorney representing Pink Stone.
Although Breather has announced plans to close all of its locations, Letiman Bailey said he anticipates the company will not give up the location easily.
“They put a lot of money into this location very recently,” said Letiman Bailey. “It does not make any business sense to walk away from it.”
The Role Of HR In Supporting Employees
HR teams have spent the better part of this year trying to navigate how to make the workplace the best experience possible for employees.
Now, HR professionals are identifying what benefits can make a meaningful impact on workers.
While companies have had to shift priorities, so have employees. According to new research from John Hancock Retirement, employee financial stress has doubled since the beginning of the pandemic and is having a poor impact on how well they perform their jobs.
Additionally, BrightPlan conducted a survey of 350 HR leaders and employees and found that the perception of finances among knowledge workers has worsened, with 48% stating they are stressed about their personal finances.
It is clear that finances are a top priority among employees at the moment. That is why HR teams need to make a more of an effort to nurture the needs of workers, particularly those who may be financially struggling.
Companies have also realized the importance of supporting employees’ wellbeing. According to the Bank of America’s 2020 Workplace Benefits Report, 62% of employers “feel extreme responsibility for their employees’ financial wellness.”
HR teams are now looking for new ways to repurpose their budgets in order to better invest into wellness programs.
Simply checking in with employees and ensuring that they stay engaged will be crucial to a healthy workforce moving forward. This can be done by using engagement surveys in order to see how workers are doing, and understand what type of support they need from their employer.
How HR Professionals Can Help Guide Remote Workers
The last several months has left HR professionals reevaluating their normal strategies and, as they enter into the new year, how to apply these new methods in the future.
While remote working has proven to be beneficial for many employees, several have expressed missing interactions with colleagues each day.
HR professionals can help workers throughout this transition and guide them in a way that improves their workplace experience.
It is clear that as the pandemic rages on, coming back into the office on a normal basis is a farfetched concept.
Throughout this time, companies have realized that corporate travel is not a necessity when closing sales contracts, networking with new partners or seeking out talent.
Video conferencing tools are a decent alternative and a much more cost effective option at that.
Additionally, we can anticipate that remote working will become a mainstay in the future. In fact, Forrester is predicting that remote working will rise to 300% of pre-pandemic levels.
This will likely lead to organizations to invest more into technologies that help support a distributed workforce, such as collaboration tools, artificial intelligence and more. Doing so helps employees connect with customers and colleagues, preventing feelings of isolation.
Moving forward, the younger generation of professionals will view benefits as a determining factor in their employment opportunities. Companies who value flexibility, wellness programs and a healthy company culture are guaranteed to attract top talent.
Europe’s Workforce Could Become Increasingly Remote
A new study from McKinsey & Company is predicting that one-third of Europe’s workforce could be remote after the pandemic has ended.
Many business leaders have expressed concerns over productivity levels during the world’s largest work-from-home experiment, but studies have proven that employees have had a boost in productivity.
However, companies who failed to adapt their culture to incorporate the proper remote technology have struggled.
Still, some employees have said they might prefer to come into the office for at least part of the week, with a more flexible touch.
Nearly 52% of UK workers said they have had a better work-life balance throughout the pandemic. If employers do not accommodate this need in the future, one-third of respondents said they would consider a career change.
The potential for remote working varies greatly on the industry. For example, jobs that are focused on manual labor are not ideal for remote working. On the other hand, McKinsey found that over three-quarters of finance and insurance work could be done from home.
Remote working opportunities also vary across regions. For instance, McKinsey’s study revealed that professionals in China and India could spend 12% and 22% of their time working remotely before seeing a dip in productivity levels.
Germany, the U.S. and Japan are close behind the UK, with the research indicating that their workforces could spend 28% to 30% of their time working remotely before losing productivity.
These findings indicate that economies that are focused on digitization have fared better when it comes to adapting to remote working.
The New Future Of The Workplace
Prior to the pandemic, the way we worked was slowly evolving. After companies were thrust into the future of work seemingly overnight, many came to terms with the fact that remote working actually carries several benefits.
A recent Harvard Business Review article even found that knowledge workers are more productive when working from home. So what does this transition mean for the new future of the workplace?
First, employees will have a bigger say in where and when work gets done. Professionals that have a choice in their work environment have been found to be happier in their positions.
Additionally, a 2017 survey from ServiceNow revealed that 47% of employees would consider leaving their job if it did not offer remote working options. It’s safe to assume that this number has grown since then.
Organizations know this, too. That is why we have seen major companies like Microsoft make the commitment to a hybrid workforce moving forward.
Not only will the workplace need to adjust their aesthetic and technological infrastructure, but leaders will also rethink how they operate.
This means nurturing the company’s culture to ensure it is a place that is supportive, clearly communicates expectations, shifts to a results-oriented environment and helps employees maintain healthy levels of innovation.
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