CEOs Think Office Mandates Will Improve Company Culture. New Data Says They’re Wrong

Employees with flexible work models surveyed by Future Forum, Slack’s consortium focused on the ... [+]..getty

In the latest wave of orders for office mandates, Disney CEO Bob Iger demanded employees return at least four days a week come March. His reasons echo Apple CEO Tim Cook’s defense of the tech giant’s in-person work policy—which sparked workers to launch a petition—insisting in-office work is essential to innovation and collaboration.

But as leaders continue to call for the return to office, new data shows workers at companies with flexible work policies—where remote work is welcome and employees have the opportunity to go to an office—say the compromise is working.

Employees with flexible work models surveyed by Future Forum, Slack’s consortium focused on the future of work, were 57% more likely to say their company culture has improved over the past two years compared to fully in-person workers—citing flexible work policies as the primary reason their culture is improving.

But flexible and hybrid work is not a one-size-fits-all approach. Companies that are experimenting rather than returning to pre-pandemic norms are the ones succeeding, says Sheela Subramanian, cofounder and VP of Slack’s Future Forum.

“The thing we’re forgetting is that this is not the end of this massive experiment. We’re still in the middle of it,” Subramanian says. “And those saying, ‘It’s over. We’re all going back to how things used to be,’ they’re getting a lot of pushback and resistance from their employee base.”

Future Forum has surveyed more than 10,000 global, full-time workers since its 2020 launch. This quarterly pulse surveyed 10,243 employees between November 16 and December 22, 2022.

Sixty-seven percent of respondents said they prefer a hybrid working arrangement with access to a physical workspace as an option. But when it comes to offering flexible work policies, executives are most concerned about employee engagement, company culture, productivity and innovation, says Kate Lister, president of Global Workplace Analytics.

Twenty-five percent of executives in Future Forum’s survey cited “culture is negatively impacted” as a top concern in offering more flexibility and flexible work policies.

However, compared to the 35% of workers who are fully in-office, flexible workers are equally or more likely to feel connected to their immediate teams, direct manager and employer’s values, the survey found.

“[Bosses] are realizing that if they want to keep their people, they’re going to have to compromise,” Lister says. “Even those that are very against it like Elon Musk are seeing, now that we’re facing recession and pressures for cost reduction, the potential for remote work to dramatically reduce their office space.”

At SymphonyAI, the enterprise AI company is finding ways to ensure that when workers are in the office, “it is productive for what it was intended to bring them into the office for,” chief people officer Jennifer Trzepacz says. How? They’re normalizing “in-office” notices instead of just out-of-office messages.

“You know how you have an out-of-office message that says ‘I am out of office; I’m not available’? We want to have it [read] ‘I’m in the office; I’m not available,’” she says.

Three quarters of Future Forum respondents said they use the office for collaborating with co-workers and clients, facilitating in-person meetings and building camaraderie while 15% said they use it for having a quiet space to focus on work.

Lister says hybrid working arrangements have “always led to higher engagement than either fully remote or fully in the office.” “I’ve seen this survey after survey,” Lister says. “[Employees] will tell you that the culture has gotten better during the pandemic because they felt they were listened to and felt more trusted. And that started to wear off after 2021.”

Now, companies are redefining culture, investing in new ways to create connections in a hybrid world, Subramanian says. “The most successful executives are the ones who are setting the overall guardrails in terms of what they’d like to see,” Subramanian says. “And then they’re getting out of the way.”

Emmy Lucas

Emmy Lucas

Source: CEOs Think Office Mandates Will Improve Company Culture. New Data Says They’re Wrong

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Source: CEOs Think Office Mandates Will Improve Company Culture. New Data Says They’re Wrong

Four Ways To Make Banking A Destination Workplace

getty

There was a time in the not-so-distant past when banking was seen as an attractive and prestigious career. Banks didn’t take just anybody, and if you were lucky enough to get in, you could spend your whole career moving up the ladder, exploring different role types and dozens of paths.

Over the last 30 years, however, the value proposition of a career in banking has diminished. If we were to poll a group of university students, how many would rank banking as their number one career choice? Not as many as we’d like.

There are a number of reasons for this shift, but the biggest may be the explosion of technology and innovation. Many of the smart, talented people entering today’s workforce want to do something exciting and groundbreaking, with the opportunity for a large payout. Whether or not it’s warranted, banking just doesn’t tend to have that reputation. And as we all know, reputation is everything.

Reputations and perceptions, however, can be changed. In order to recruit and retain top talent in today’s high-stakes and highly competitive landscape, financial institutions (FIs) must find new, innovative ways to rebrand banking as a “destination workplace” and win back the prestige it deserves. For banks to thrive in the digital age, this is a critical imperative. Below are four strategies that can help:

1. Let new employees help guide your strategies and impact your culture.

When you hire a new employee, the first thing you should say to them is, “Don’t become one of us.” You don’t want new talent to simply replicate the old way of doing things. Instead, the existing guard needs to welcome new blood so they can inject their own knowledge into the institution and help create positive change from the inside out.

While change rarely happens from the bottom up, it also can’t be forced from the top down. True transformation happens when all levels of the organization work together. For today’s FIs, while digital transformation is the calling, the need to maintain stability, manage risk and ensure compliance with a fresh mindset is key to bringing in new ideas so these pillars of the industry can be managed effectively in the digital age.

When you’re open-minded and allow new talent to bring their own perspectives, change happens faster.

2. Model your institution on what your talent pool values.

The number one thing many new talents value is their own personal career “equity.” Instead of performing repetitive tasks, most employees want to be constantly learning; they want to understand the company’s value in the market, drive change and create real innovation. Like any investment, there should be a return.

The new generation of workers tends to value ideas like quality of life, work-life balance, sustainability efforts, respect and diversity and inclusion, and so it makes sense they’d want to work for someone who shares those values. FIs have traditionally offered good benefits, discounts on mortgage rates, upsized rates and other perks.

But becoming a true destination workplace is more than simply rethinking compensation structures. It’s rethinking each opportunity at your institution. Rather than just a job, they can experience holistic careers with multiple opportunities. With this mindset, a pathway in banking builds one’s career equity and drives motivation to flourish and be fulfilled.

3. Invest in technology that improves the employee experience.

It’s difficult to provide great experiences when employees are constantly tracking down paper, rekeying data, uploading forms and using legacy tech. To create a destination workplace, you need great technology that simplifies your employees’ work lives and helps them do their best work and deliver on customer and compliance demands.

A new employee shouldn’t have to learn 20 different systems or juggle multiple manuals to figure out how to open a loan. A single, seamless platform that combines key banking needs can help empower employees to become a piece of the solution, rather than just a user.

When choosing which technologies to invest in and implement, institutions should also involve new recruits, established status-quo “challengers” and a mix of power users and novices to truly get a feel for where they should focus. For example, the teams who are closest to the customer know what will enable a better experience.

If you can create a culture that gives employees a voice and values their feedback, you’ll be able to watch them flourish for years to come.

4. Prioritize stronger relationship-based experiences to amplify the human effect.

Most banks call themselves relationship banks, but true relationships are with a human, not an institution. If you want to be a relationship bank or augment the trust that already exists, everything must shift from account- and transaction-centric legacy models to a customer-centric model of understanding needs and transparency. This will create better employee experiences from the ground up.

To prioritize relationship-based experiences, employees in supporting and admin roles must be able to understand customer relationships in context so they can appreciate the customers’ mindset, need, urgency and long-term point of view.

Technology that helps every member of your institution’s team to collaborate, understand customer profiles and deliver on the bank’s promise can create stronger relationships with your customers and among your employees. Technology that serves every member of your organization ultimately serves customers, and this mindset is critical to redesigning the tech approach.

With the enormous opportunity of dozens of paths, career challenges, exciting innovations and a rapidly changing market, a career in banking can help build the “career equity” many are demanding and offer a lifelong career return on investment, both personally and professionally.

By focusing on strong relationships, investing in great technology and creating an inclusive and collaborative culture, banks could once again be seen as a destination workplace that attracts talented people and gives them plenty of reasons to stay, grow and transform both your institution and the industry.

Anthony Morris, SVP of Global Banking Strategy & Customer Advisory at nCino, a worldwide leader of cloud banking. Read Anthony Morris’ full executive profile here.

Source: Four Ways To Make Banking A ‘Destination Workplace’

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Related contents:

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How The Corporate Cafeteria Is Changing

 

Even as the sprawling dining halls of old struggle with emptier workplaces, food is still important to employees, particularly the young. Many companies are reinventing the company meal. The corporate cafeteria can be an especially lonely place these days.

“You used to walk in at 12 o’clock on a Tuesday and stand in line to get something,” said Casey Allen, 46, who works for a division of the agricultural chemical company BASF in Raleigh, N.C. “Now, you walk in and you’re usually first in line.” A paternalistic fixture of white-collar life born of the Industrial Revolution, the office dining room survived the midcentury move to sprawling suburban office parks.

It weathered the rise and fall of cubicle culture and power lunches, and more recently, the lavish excess of the Silicon Valley office lunch. But as the American office emerges from its pandemic slumber, can the cafeteria survive layoffs, a workweek that sometimes requires only a few days in the mother ship and a new, more demanding generation of employees?

Even at companies like Meta, which this month announced that it would lay off 126 cafeteria employees at its headquarters in Menlo Park, Calif., workers are skipping free meals in a quest to leave the office as soon as possible.

“The world of the traditional big cafeteria is dead,” said Fedele Bauccio, who in 1987 co-founded Bon Appétit Management Company, which runs food service at hundreds of museums, universities and companies like LinkedIn. “They are just too expensive to maintain, and not flexible enough.”

Still, office workers need to eat. So companies are blowing up the cafeteria. Long regarded as a way to encourage productivity, cafeterias are being reframed as respite and recreation, designed to attract younger workers in a job market badly in need of them.

Some companies are installing cocktail bars, or hosting sunset oyster-shucking parties to help employees relax and socialize after work. The large dining halls at tech giants are being divided into smaller, more homey spaces flexible enough to feed a work force whose size changes drastically day to day. Developers are building restaurants that function like subsidized corporate cafeterias but are open to the public.

“Free pizza isn’t enough anymore,” said Andrew Montesano, the North America food programming and operations manager at LinkedIn. Employees, especially younger ones, are demanding more culturally authentic meals and climate-friendly kitchen protocols, like reducing waste, according to Mr. Bauccio and others in the corporate food service business. They are eating less meat and questioning labor practices. Health and wellness have become a menu mantra.

Companies that aren’t paying attention are likely to suffer, said Jennifer A. Chatman, associate dean for academic affairs at the Haas School of Business at the University of California, Berkeley. Smart leaders know that informal interaction can keep corporate culture from eroding as remote work persists, and may be the main purpose for coming to the office in the future, she said.

“A cafeteria is not the only way to get there,” Dr. Chatman said, “but people need to eat, and we know eating together fosters interaction.” Food has become such an important recruitment and retention tool that some applicants for remote jobs are even offered credits with food delivery companies, or generous weekly lunch stipends — benefits that may be especially prized as inflation drives up food costs.

Free meals can also offer psychological rewards, Dr. Chatman said. “There’s an advantage to being able to say, ‘My company buys me lunch every day.’ There is a symbolic value in feeling like you are being taken care of by the company.” On the shores of South San Francisco, an airy two-story restaurant called the Anecdote opened in March on a biotech campus. It functions like a corporate cafe, but has the look and feel of a restaurant.

 

Bon Appétit Management Company pioneered the idea with real estate developers. Companies in the building can use the restaurant as a way to offer employee meals, sometimes free or at a discount. But anyone can stop in for dishes like crispy tofu sliders and $16 Dungeness crab cakes.

Company downsizing and hybrid work hours prompted the idea, but cities — particularly on the West Coast — that are pushing companies to stop providing abundant free food helped it along, said Alison Harper, a Bon Appétit district manager. Huge corporate cafeterias, the reasoning goes, keep workers from patronizing local food businesses, and offer nothing for the neighborhood.

“The pandemic speeded up what I consider a paradigm shift that was already happening in the Bay Area and beyond,” she said. “Cities were saying we don’t want big, closed cafeterias that don’t benefit the community anymore.” Hans-Peter Goertz, 48, eats at the Anecdote during the three days each week he goes to the Cytokinetics office. He misses the variety and speed of food service at his former employer, Genentech, where a dosa or an order of fresh, local fish was delivered fast and free.

A meal at the Anecdote, he said, is more akin to a longer, European-style lunch. “I can get a really nice meal for $4 or $5 in a beautiful setting with an innovative menu,” Mr. Goertz said. “It’s a very nice perk that translates beyond the economics.” There may be no better example of the changing fortunes of corporate dining than the former Condé Nast cafeteria in Midtown Manhattan, once an exclusive palace of power where the editor Anna Wintour ordered blood-rare burgers, and one might spot Cameron Diaz at the salad bar or John Updike having lunch with a New Yorker editor.

The cafeteria line became so legendary that it had a role in the film “The Devil Wears Prada.” (“You do know that cellulite is one of the main ingredients in corn chowder,” Stanley Tucci tells a young new hire ladling some into a bowl.) The Durst Organization opened the revamped cafeteria at 151 West 42nd Street in 2018, after Condé Nast moved out.

Part of its $150 million renovation was spent giving the cafeteria, originally designed by the famed architect Frank Gehry, a face lift. Anyone whose company rents space in the building is welcome. Durst put beehives on the roof of a neighboring building and uses its honey in the cafeteria. It began offering master classes in cooking lobster and fresh pasta. Food scraps are shipped to the company’s 1,800-acre McEnroe Organic Farm near Millerton, N.Y., and the compost is used to grow vegetables for the cafeteria line.

Quality food, served in refined gathering spots, has been such a winning formula that Durst is replicating it in its building at 825 Third Avenue, which is also undergoing a $150 million renovation. By this summer, employees at companies like Gotham Asset Management and National Bank of Egypt will be able enjoy a cafeteria lunch, and after work head to a 6,000-square-foot terrace for happy hour or an oyster-shucking party.

At One World Trade Center, which Durst co-owns with the Port Authority of New York and New Jersey, a large, casual communal space on one floor offers a quick-service cafe with high-end coffee and beverages. The building is home to young, midsize tech companies like Wunderkind and Undertone, which have pumped up their own pantries, sometimes making them the centerpiece of the office.

“What we’re seeing is a merger of the renaissance in food and corporate dining,” said Spencer Cohn, who manages food and beverage for Durst. “The shift is not temporary.” David Neil, a Durst principal, said a number of companies have made their leasing decisions based on a building’s food and beverage offerings.

In less flashy corners of corporate America, companies are struggling to find efficient ways to manage unpredictable lunch crowds and reduce labor costs while still offering dining options. Streamlined menus with QR codes are posted on office walls, and orders are made on apps or at kiosks.

Some businesses have abandoned cafeterias altogether in favor of subsidizing food delivery. An app called Relish by ezCater aggregates a variety of restaurant orders from employees and delivers them all at the same time, in uniform packaging, so everyone can eat together. It uses a network of more than 104,000 restaurants in every state, selected based on their ability to reliably feed large groups.

Stefania Mallett, the chief executive of ezCater, said that companies she never thought would subsidize food for employees have signed up because it’s cheaper than running a cafeteria and satisfies younger workers, for whom food is becoming a requirement rather than a perk.

The New York ticket company SeatGeek uses the service regularly, she said. On days it offers subsidized lunch through the Relish app, five times as many employees come to the office. “It’s much cheaper to give you a sandwich than replace a worker,” she said. Still, there are some parts of the country where the old-school corporate dining room endures. The cafeteria at Hallmark headquarters in Kansas City, Mo., is one of them.

In 1956, Mr. Hall opened the Crown Room, with an army of cooks, a terrific view and 36 chandeliers shaped like the company logo. “Greeting cards represent thoughtfulness, and it’s fitting that those who create them should be working in the best conditions we could provide,” he said at the time.

The Crown Room was always the heart of the company, with cakes for employee birthdays, World Series parties and gift-wrapping demonstrations. People heading home for the day could pick up a potpie or some meatloaf for the family on their way out the door.

During the height of the pandemic, when headquarters was closed, the kitchen still turned out packaged sandwiches and salads to feed people in the manufacturing plants. The dining room reopened in April. “Hallmarkers were thrilled to have the Crown Room back open,” said Paul Herdtner, a company spokesman who is particularly fond of the cafeteria’s Texas sheet cake.

It’s a piece of Hallmark corporate culture no one wants to change, but reality is reality. These days, the cafeteria line is open only three days a week.

Kim Severson

Source: How the Corporate Cafeteria Is Changing – The New York Times

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High Turnover? Here Are 3 Things CEOs Do That Sabotage Their Workplace Culture

Strong company cultures are the heart of a successful workplace...getty

Every CEO wants long-standing employees, but their ineffective leadership causes organizational stress that cripples the workplace culture. Quite often, we read articles or hear of CEOs abusing their power and tarnishing their company’s reputation.

This is due to them neglecting feedback from their team and making decisions based solely on their own judgement. Not only does this erode trust, but it sets a standard that employee and leadership voices are not welcome.

When employees are taken care of, they go above and beyond to drive the company forward. Conversely, when they don’t feel valued, appreciated or kept in the loop, employees quickly become disengaged. The cost of a disengaged employee impacts more than the bottom line.

It decreases productivity, creates negative client experiences and destroys the company culture, to name a few. According to a Gallup survey, the State of the American Workplace 2021, 80% of workers are not fully engaged or are actively disengaged at work.

While CEOs claim to embody a people-first and feedback-driven culture, they believe, due to their position, that they know better than everyone else. Todd Ramlin, manager of Cable Compare, said, “if a person is fortunate to have the opportunity to be a CEO, they need to ask themselves if they can live by the company values, expectations, rules and processes that are in place.”

They can’t pick and choose which rules and processes to abide by, yet punish others when they do the same. Doing so cultivates a toxic workplace and demonstrates poor leadership. Here are three things CEOs do that sabotage their workplace culture.

Embraces Data, Dodges Emotions

The workplace is made up of a diverse group of experiences and perspectives. CEOs who lack the emotional intelligence to understand another person’s viewpoint or situation will find themselves losing their most valuable people. Sabine Saadeh, financial trading and asset management expert, said, “companies that are only data driven and don’t care about the well-being of their employees will not sustain in today’s global economy.”

Businessolver’s 2021 State Of Workplace Empathy report, revealed that “68% of CEOs fear that they’ll be less respected if they show empathy in the workplace.” CEOs who fail to lead with empathy will find themselves with a revolving door of leadership team members and employees. I once had a CEO tell me that he didn’t want emotions present in his business because it created a distraction from the data.

His motto was, “if it’s not data, it’s worthless”. As such, he disregarded feedback of employee dissatisfaction and burnout. Yet, he couldn’t understand why the average tenure of his employees very rarely surpassed one year. Willie Greer, founder of The Product Analyst, asserted, “data is trash if you’re replacing workers because you care more about data than your people.”

Micromanages Their Leadership Team

One of the ways a CEO sabotages a company’s culture is by micromanaging their leadership team. Consequently, this leads to leadership having to micromanage their own team to satisfy the CEOs unrealistic expectations. When leadership feels disempowered to make decisions, they either pursue another opportunity or check out due to not being motivated to achieve company goals.

As such, the executives who were hired to bring change aren’t able to live up to their full potential. Moreover, they’re unable to make the impact they desired due to the CEOs lack of trust in them.Employees undoubtedly feel the stress of their leadership team as it reverberates across the company. Arun Grewal, founder and Editor-in-chief at Coffee Breaking Pr0, said, most CEOs are specialists in one area or another, which can make them very particular.

However, if they want to drive their company forward they need to trust in the experts they hired rather than trying to make all of the company’s decisions. At one point during my career, I reported to a CEO who never allowed me to fully take over my department. Although he praised me for my HR expertise during the interview, once hired, I quickly realized he still wanted full control over my department.

Despite not having HR experience, he disregarded everything I brought to the table to help his company. I soon began questioning my own abilities. No matter how hard I tried to shield my team from the stress I endured, the CEO would reach out to them directly to micromanage their every move.

This left our entire department feeling drained, demoralized and demotivated. Sara Bernier, founder of Born for Pets, said, “CEOs who meddle in the smallest of tasks chip away at the fundamentals of their own company because everything has to run through them”. She added, “this eliminates the employee’s ownership of their own work because all tasks are micromanaged by the CEO.

Neglects Valuable Employee Feedback

Instead of seeking feedback from their leadership team or employees, CEOs avoid it altogether. Eropa Stein, founder and CEO of Hyre, said, “making mistakes and getting negative feedback from your team is a normal part of leading a company, no matter how long you’ve been in business.” She went on, “as a leader, it’s important to put your ego aside and listen to feedback that will help your business grow.

If everyone agrees with you all the time, you’re creating a cult mentality that’ll be detrimental to your business’ success in the long run.” This results in a toxic and unproductive workplace culture.

What’s worse than avoiding constructive feedback is receiving it and disregarding it entirely. Neglecting valuable feedback constructs a company culture where no individual feels safe voicing their concerns. Rather than silence those who give negative feedback, CEOs should embrace them. These are the individuals who are bringing issues forward to turn them into strengths in an effort to create a stronger company.

Prior to joining Digital.ai as HR-North America, I owned my own Workplace Culture Consulting agency at Heidi Lynne Consulting helping individuals and organizations gain

Source: High Turnover? Here Are 3 Things CEOs Do That Sabotage Their Workplace Culture

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Want To Live a Happy Life? Focus on Your Relationships

Credit: Roberto Nickson / Unsplash

Harvard psychiatrist Robert Waldinger discusses how 80 years of ongoing research show relationships to be vital for health and happiness.

How can you live a happy life? It’s a surprisingly difficult question to answer because there are so many factors to account for. Is a happy life built on your career and earnings? Your standing within your community? Does it come from a photo album filled with memories of holidays and vacations? Is it predicated on your health and wellness or based on a genetic predisposition toward being happiness regardless of the circumstances?

In some ways, the answer is yes to all of these, as each contributes to how you approach life and your appraisal of it. You can’t ignore any one, nor do any offer a universal panacea for the others.

However, in their new book The Good Life: Lessons from the World’s Longest Scientific Study of Happiness, Robert Waldinger and Marc Schulz, the director and associate director of the Harvard Study of Adult Development respectively, argue there is one factor that “stands out for its power and consistency” in helping people live thriving and fulfilling lives. That is the quality of their relationships.

I spoke with Dr. Waldinger to learn why relationships had such power and how we could better cultivate them in our lives.*

Kevin: For those who may be unfamiliar, what is the Harvard Study of Adult Development?

Waldinger: As far as we know, it is the longest study of adult life that’s ever been done. We started the study in 1938 — so I’m the fourth director [Laughs] — and we are collecting data to this day. It has followed the same people for 85 years and has also started following their children, so we now have 724 families.

What’s rare about this study is that it follows people year after year over decades, so we get to see how life really progresses for people rather than just taking snapshots of life at different points.

Kevin: What are the study’s aims?

Waldinger: The aim is to see what helped people thrive as they went through their lives.

This was radical for its time because most research back then looked at what went wrong in human development because they wanted to know how to make things better. But there had never really been a study of what promotes well-being and what predicts who will be healthier and happier as they go through life.

Kevin: Before discussing what makes a good life, let’s first consider some popular misconceptions. What does the research show that we get wrong about happiness and well-being?

Waldinger: There are all these myths in the culture, right? That if you’re rich, you’re happier. That if you’re famous, you’re happier. That if you achieve a lot, you’ll be happier. And none of those is true.

We’ve had rich people, famous people, and high-achieving people in our study, and they’re not happier on average than the people who lead regular lives. The problem, I think, is that our culture holds out these myths because they sell things.

Think of all the messages we get about how we’ll be happier if we buy a certain car, right? Or we’ll always look young if we use a certain brand of face cream. This idea is that we can make everything perfect if we just consume the right things.

And although we all know rationally that’s not true, we can get the feeling that somehow other people have it all figured out, and we don’t.

Kevin: It’s interesting that we listen so much to other people about what will make us happy. You’d think we would know ourselves well enough to accurately predict our future happiness. And yet, speaking for myself here, the success rate has not always been great.

Why do we have such difficulty forecasting what will and won’t make us happy?…

Continue Reading…

By: Kevin Dickinson

Source: Want to live a happy life? Focus on your relationships – Big Think

.

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Facebook Cash Machine   https://jvz4.com/c/202927/382333/
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Fanpage  https://jvz4.com/c/202927/144349
Fitness Nutrition   https://jvz4.com/c/202927/353334/
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Forex Blue Stark  https://jvz3.com/c/202927/47481/
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HostLegends    https://jvz4.com/c/202927/384774/
Hostley Domain Creator   https://jvz1.com/c/202927/379223/
Human Synthesys Studio  https://jvz8.com/c/202927/367353/
ImageX   https://jvz6.com/c/202927/363237/
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Insta Keyword    https://jvz6.com/c/202927/351606/
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