Last week, I had the opportunity to attend WORKTECH’s Financial Workplace 23 forum in New York. The one-day event, hosted by BNY Mellon, attracted over 150 senior professionals from real estate, corporate services, HR, technology, and executive management who work for the world’s top financial institutions.
Like me, attendees were excited to hear views on the future of work in the financial sector and learn of emerging trends and best practices shaping the new world of work. It was clear the world of the workplace remains in flux as organizations define their employee engagement and return to office models.
Some key takeaways from leaders include:
Hybrid Work Still in Effect; Companies Implementing More Effective Policies to Get Employees to Return
- Companies realize they must entice employees back into the office with a worthwhile day, focusing on opportunities they don’t get when working from home, such as one-on-one collaboration with colleagues and in-office events.
- Alejandro Perez, Chief Administrative Officer at BNY Mellon, noted his company is asking employees to come into the office 2-3 days a week and striving to make those days in the office worthwhile for employees.
- One way BNY Mellon does this is through health and wellness amenities that enhance the office environment. Studies show that employees are more likely to integrate well-being breaks into their day at home. Companies that promote health and wellness in the office stand to see increased participation in these services.
- Linda Foggie, Global Head of Real Estate Operations at Citi, shared that her group bundles amenities based on the office location to entice employees to take advantage of the amenities and make time at the office most useful.
Companies Shift Focus to the “Whole Employee”
- Design Lead Melissa Davis and Change Lead Hilary Green from Scotiabank shared how they redesigned their Toronto Contact Center to provide flexibility and better accommodate their employees’ needs. The new design was based on a neighborhood model, whereby employees are assigned to a “village” and have access to shared amenities such as a bistro, game room, and meeting rooms. Spaces were designed to accommodate introvert and extrovert working styles, enabling employees to feel more comfortable.
- Futurologist & CEO of Cordless Group & UnWork, Philip Ross, spoke of how the global pandemic has triggered a complete re-evaluation of the purpose of the workplace. He introduced the idea of unworking “to unravel how we work, unbundle assumptions about the modern office, unlearn the habits and rituals that have traditionally defined our behavior at work, and reimagine the workplace.”
- For example, Salesforce opened its Trailblazer Ranch last year in Scotts Valley, California. This 75-acre work campus hosts 600 Salesforce employees to build relationships, learn about the company, and grow their careers through innovative and fun activities, such as nature walks, restorative yoga, group cooking classes, and meditation.
- Ross also shared excerpts from his latest book, Unworking: The Reinvention of the Modern Office.
Workplace / Employee App Helps Entice Employees Back to the Office
- Modo had the pleasure of hosting a customer panel to discuss their use of workplace apps. Initially launched to support real estate and corporate service objectives, the role of the workplace app has broadened to support RTO and employee experience initiatives. Gabrielle Fink, Workplace Strategist, formerly with HSBC, commented, “Over the past couple of years, we’ve gotten a much better understanding of all the different problems we didn’t know we had in the hybrid world that an app can solve.”
- Several panelists shared they were leveraging their workplace app to enable collaboration, support employee retention, build culture, and increase productivity.
Workplace Trends Revealed
- Employees are Returning. Companies have seen a positive increase in foot traffic across all industries, and most people are coming to the office midweek (Tuesday – Thursday).
- Downsizing Real Estate. Companies have reduced their real estate footprint–and plan to decrease it further. They have adopted fluid workspaces where employees share space, and workplace apps have enabled companies to make reserving space easier for employees.
- Data is Key. Everyone wants actionable data, and not just attendance and entry swipes. There is a real need to measure employee engagement.
- Office Life Redesigned: The office, once the confines of the 9-5, ‘this is where you go to work’ has morphed into a venue designed to promote well-being, to help you learn, to collaborate, and to socialize. It is as much about atmosphere and feelings as it is about output from a desk or a meeting room.
- The Magnetic Office: Do you entice employees to return to the office with culture and learning benefits, or do you force them to? The key is to bring the office to life–make your office magnetic.
- Seamless Workplace Experience: Reduce employee friction to employee-offered services–make it easy for them get to what they need.
A big thank you to sponsors BNY Mellon, JLL, and Worktech for a worthwhile day of valuable insights, trends, and time for networking with peers.
I look forward to next year’s conference.
Andrew Umans, VP Strategy & Partnerships