by Ruth Sturkey
When making predictions for 2020 we could not have foreseen the times we are living through. How many of us idly made New Year's resolutions about working more flexibly, spending more time with our family, learning a new skill or taking up a hobby? This year our resolutions may just come to pass.
There are many articles about COVID-19, lockdown and how we are all coping. In this article I decide to stick my neck out and postulate about what might be different when we emerge to a new working environment as financial planners.
How many businesses have been discussing flexible working? Yet how many have not actually done it, citing concerns around a decline in client service, an inability to ensure people are pulling their weight or the need to collaborate with others to produce work? Current experience dispels these concerns.
The idea of a working sabbatical (from perhaps Barcelona, LA or Sydney) might gain traction. At the very least, I believe the new working week (which may become four days) will comprise of at least one day working remotely, whether at home, a favourite coffee shop or the local shared office type set up. We can start to imagine people working further away from the office, all over the country, or even overseas.
I can see a move away from the 9 to 5 grind to letting employees working at a time that suits them. This will be a breath of fresh air for women and men with caregiver responsibilities. With less people traveling at once, perhaps we'll ease the pressure of the daily commute.
As we work remotely, I think there will be a greater appreciation of everything families have on their plate, with an acceptance of messy backdrops, less than perfect home offices and children popping into vision during video conferencing.
The expression ‘bring your whole self to work' will have space to resonate.
More remote working will necessitate improved internal company communications. Video conferencing is one way to enable simultaneous messages across teams, which can prove vital for firms with larger offices or more than one site. Those who miss the live presentation can ensure they don't miss out by watching a recorded version of the presentation.
As people get used to using video conferencing, they can help break down team silos and enjoy a freer exchange of ideas across teams.
Of course, all of this is not to ignore the importance of human contact. On the contrary, instead company physical get-togethers should become much more interactive. Perhaps we'll see a rise in café style common areas that will replace sterile meeting rooms.
Many clients will still want in-person meetings in our offices, but many may welcome interactive video conferencing which enable screen sharing and white board drawings while eliminating travel time.
The floor space that might be freed up by more people working remotely can be used to facilitate lounge type meeting areas to sit alongside the more formal boardroom style meeting rooms.
So, these are my predictions! What do you think?
Out of an unforeseen crisis we have a unique opportunity to redefine how we live and work, reshaping our lifestyles. Let's not miss it.
Ruth co-founded and led The Red House, a boutique financial planning firm, which she merged into Paradigm Norton in December 2017. She continues to help build the merged business whilst growing a team of talented individuals where the whole is greater than the sum of the parts.
A well-known and influential member of the financial planning profession, Ruth is regularly asked to comment and speak at industry and women's events.
Ruth shares her life lessons and thoughts on planning for the future in regular blogs with clients. These inspirational stories are taken from life events and unite Ruth's views of life with her expertise in financial planning, showcasing how the two are so heavily interwoven.
