Julian Broster, VP of Strategic Business Development, Apogee Corporation
The future of work continues to unfold. With industry giants such as BlackRock, JP Morgan, and Goldman Sachs now calling their employees back to the office at least four days a week, financial services organisations of all sizes look increasingly likely to follow suit. While it may not yet spell the end of the golden age of remote and hybrid across other sectors, the rationale behind this strategic shift is clear: today’s fast-moving financial markets rely on the camaraderie and collaborative energy often generated by being together in a shared space.
However, mandates like these can be unpopular with employees, especially as flexibility and work-life balance moves up the priority list. With a study by the Financial Services Skills Commission revealing that 50% of employees are keen to continue working more flexibly post-pandemic, organisations may meet resistance from staff accustomed to the newfound freedom of remote or hybrid working models. Furthermore, reconciling environmental, social and governance (ESG) goals with the revival of paper-intensive office environments will pose significant challenges.
As businesses prepare to reintroduce their workforce to the 4/5-day on-site working week, blending the inherent benefits of office collaboration with the desire for flexible, value-driven work becomes a delicate balancing act. How can businesses ensure that their offices are truly smart, sustainable, and worth the regular commute?
Getting smart with offices
A lot has changed since the start of 2020. Particularly in the financial services sector, where innovation is king, no business should expect their staff to happily return to the outdated office cubicles of old or tolerate inefficient technological tools. Today’s workforce demands ‘smart’ offices that seamlessly integrate digital and print platforms, underpinned by secure cloud technologies and streamlined document workflows. Embracing this evolution is key for empowering employee efficiency, helping organisations to engage and ultimately retain top talent.
For businesses considering enforcing on-site work, their primary focus should be on upgrading their physical premises. This involves implementing agile workspace designs that accommodate a variety of working styles, enabling employees to seamlessly transition between collaborative sessions, focused work, and virtual meetings with geographically dispersed teams. But creating a truly smart office goes beyond adding a few ‘breakout’ spaces or mere cosmetic adjustments. With many employees finding that their homes are significantly smarter than the offices they left behind at the start of the pandemic – with much more intuitive and connected technology – organisations must win back their workforce by providing the frictionless, dependable digital experiences they have grown accustomed to in their personal lives.
The most forward-thinking businesses have already responded to these needs by harnessing the latest interactive office-based technologies, providing instant connectivity to systems at the click of a button. This not only speeds up and streamlines traditionally frustrating processes like booking meeting rooms, but also supports greater collaboration among colleagues and other stakeholders, both inside and outside the office. With recent research finding that improved workplace collaboration and communication can reduce employee turnover rates by up to 50%, businesses can inspire staff to do their best work in the office by implementing audio and video conferencing systems – supported by microphones, speakers, imaging units, TVs and interactive whiteboards – to maximise productivity and engagement.
Building an employee-centric experience
Wellbeing at work has also become intertwined with technology. For example, a study by Apogee reveals that poor digital collaboration is causing almost a third of employees to feel “frustrated” and “isolated” as they struggle to fulfil their job responsibilities both in the office and at home. With technology increasingly making or breaking the bond between businesses and their employees, any finance firm returning to a predominantly office-based model must prioritise tackling this core challenge. Embracing digital collaboration tools will not only bridge physical gaps but also nurture a cohesive and productive office environment, reinforcing the employee-centric experience during this time of transition.
For some financial services organisations, implementing a successful ‘back to the office’ mandate will additionally mean navigating a cultural shift. Open and transparent communication is crucial to alleviate any employee concerns and rally support for the new office model. Companies must clearly explain the reasons behind the mandate, highlighting the value of in-person interactions, skill development, and innovation that arises from direct peer collaboration.
Sustainability as a cornerstone
Other factors are also shaping how finance companies operate. As champions of ESG principles, for example, many institutions are entrusted with guiding other industries towards more sustainable and responsible practices. The construction industry is facing particularly stringent regulatory and compliance pressures around ESG when it comes to sales and purchase, while public sector procurement processes increasingly hinge on questions of ‘social value’. With 70% of employees now identifying sustainability programmes as a priority when evaluating job options, how can financial services firms reconcile the ESG ideals they advocate with the return to paper and resource heavy office environments?
Fortunately, the finance sector now has an opportunity to lead by example. Businesses can drive forward sustainability measures within their own four walls, whether by leveraging energy-efficient technologies, adopting high-quality refurbished devices that sustain the circular economy, or embracing tech-based reforestation platforms that turn paper footprints into trees. Such practices will not only reinforce their credibility as ESG influencers but also inspire their employees and the industries they advise to walk the same path.
Reimagining the future workplace
‘Back to the office’ mandates represent more than a logistical shift. When approached and implemented successfully, they can empower financial companies to pioneer a fresh era of work – one that blends the collaborative energy of shared spaces with modern-day flexibility and ESG advantages.
Businesses must therefore prepare to develop office spaces that resonate with their workforce’s evolving needs and wants. By creating smart environments that integrate intuitive technologies, collaborative tools, and sustainability initiatives, they can transform their offices into appealing hubs that genuinely attract employees back.
