Page 47 - Institute Quaterly 5 Final

Those fortunate to be in work can expect to retain more flexible working
arrangements brought in by the pandemic; the virus has certainly
accelerated the trend of more home working from 5% pre-pandemic to
around 60% now. Part-time working (1-3 days in the office) according
to rosters, the use of satellite or collaboration hubs for team meetings,
the reduction in travel when video-conferencing will suffice, are all
trends that are here to stay. The arrangements will allow companies to
downsize premises even with social-distancing in force, thereby saving
on expensive office rentals in major cities. Already, we are seeing the
hollowing out of metropolitan centres in favour of suburban towns;
employees will henceforth be reluctant to pay the cost and spend
the time commuting as in the past. Yet, connectivity and creativity will
always be important.

However, there is an emotional price to consider: remote working
does not suit many and makes both team building and early training
more difficult. Mental wellbeing cannot easily be assessed or nurtured
at a distance. This is why flexible working, part in the office and part
at home, will be a valuable mix to ensure values are imparted and
bonding pursued. In return, there will also be growing expectations on
companies by employees to meet new standards and performance in
environmental, social and governance arenas. Employees may expect
greater ethical obligations and levels of sustainable development,
including PPE provision. Climate activism and right-wing extremism
may become popular in the office and require proactive measures by
companies to ensure employees don’t act on any radicalisation that the
company should have identified early on.

One aspect that Covid-19 has brought to the fore is social capital and
the value of the community. The notion of trust, neighbourliness,
volunteering, etc, is something that binds a community together. It
is the glue that gives markets and states the authority to shape our
society. While at times a little shaky, the glue has largely held firm
during the pandemic – so far. However, it needs constant attention and
should not be taken for granted. Without it, there is the danger of social
disorder. This has happened in previous pandemics throughout history,
often occurring once the worst of the pandemic had passed and the
full consequences and impact became apparent. Let’s hope that’s one
lesson that will not be repeated.

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