Changes in Working Style

Changes in working style

Post-pandemic, the way people work in the sector has dramatically changed, with just 14% now based in the office full time and 34% working from home full time. The majority (52%) operate a hybrid approach - part home and part office-based.

What is your current working style?

Full Time: Office
Full Time: Home
Hybrid: 50/50
Hybrid: mainly office
Hybrid: mainly home

The implications for employers remain huge:

Smaller premises or flexible space solutions may be needed.
Technology and cyber security development is required to support remote working.
Management challenges may arise as not all team members are comfortable with home working.
Running and developing a working culture is challenging with staff working remotely and in-office.
Employer/team relationships may change in the long term.
Potential shifts in performance metrics and management styles to manage and evaluate performance effectively in remote work.
Changes in compensation and benefits to reflect changes in work arrangements and cost savings.

On the upside, developing skills in remote working may expand the scope for efficiency or the ability to expand a client base, which may apply to both advisers and BDMs.

The table below compares all respondents compared to individual occupations and shows BDMs the occupation group most likely to be full time WFH, with only 2% full time in the office.

We examined the hybrid style in greater detail this year, and a 50:50 practice appears to be the norm. Home working has gained wider acceptance, with good reasons for adopting a hybrid approach.