How was lockdown for your teams? Are they feeling stressed and isolated? Or has working from home turned out to be a productive, com-mute-free, work-in-comfy-clothes revelation? One thing seems certain: This global, flexible-working experiment has changed our professional routines, probably for good. In PwC’s Remote Work Survey, conducted in June, 39 percent of U.S. executives said most of their office employees were working remotely at least one day a week before the pandemic. But during the COVID-19 crisis, almost everyone who could work exclusively from home did so.
Separate research conducted at the start of the lockdown found that three-quarters of executives judged the forced experiment a success, contrary to the expectations of many. Data collected at the beginning of the lockdown and through the more recent opening-up phase of the pandemic shows that productivity, despite an initial drop, soon improved during lockdown and got back on track (see chart on page 43). This finding is backed up by our spring surveys of chief financial officers; in March, 63 percent of business leaders were concerned that remote working would result in lost productivity, but by June, this number had fallen to just 26 percent.
The bottom-line results show steady or increased productivity — that’s the solid line in the chart showing an uptick — which on first reading looks like good news, but those results hide a potential problem that appears when you look harder at the data. There is greater variation around mean performance in the weeks after lockdown than before: The blue bands start widening as lockdowns are enforced. This suggests that productivity has been propped up by a cohort of superachievers (around one-third of the total sample), which has disguised a fall in productivity among the rest.
These superachievers have worked harder and longer than before in the exceptional circumstances of the pandemic — perhaps because they have benefited from fewer distractions, or have fed off the adrenaline of the crisis. The rest of the employees found things more difficult; remote working doesn’t suit everyone, for practical or emotional reasons or a combination of the two. This breeds stress and fatigue, which present risks to engagement, performance, and mental health. “I’m feeling Zoomed out” is a familiar lament. The challenge for leaders is to find ways to tackle performance because they can’t rely on superachievers to keep making up the shortfall for much longer.
Continue reading your story on the app
Continue reading your story in the magazine
Transforming information into insight
Focus on six organizational elements to build a world-class data and insights capability.
THE URGENT NEED FOR SOPHISTICATED LEADERSHIP
The pandemic has highlighted a series of paradoxes inherent to the work of leaders. What comes next will depend on how well leaders face up to them.
The road to successful change is lined with trade-offs
Rather than trying to convince people your change initiative is the right one, invite them to talk openly about what it might take to implement it: the good, the bad, and the frustrating.
Sustaining productivity virtually
Maintaining productivity levels among remote employees is an enduring challenge. Here are five ways to help businesses and employees thrive while people work at home.
FORWARD TO normal
Entertainment and media companies are building business models that are resilient to the enduring changes in consumer behavior ushered in by COVID-19.
How leaders can promote racial justice in the workplace
Embrace four principles to turn today’s diversity, equity, and inclusion initiatives into sustained progress.
CREATING THE OFFICE OF THE FUTURE
In a remodeled world, it is vital for companies to reinvent ways of working.
Consumer companies must take leaps, not steps
As shoppers show how quickly they can adapt to external shocks, retailers will need to radically reconfigure their business models.
Businesses can fast-track innovation to help during a crisis
“Unrealistic” timelines can actually work. Here’s how.
Agility and experience management work better together
Many companies achieve early wins with separate transformational efforts, then stall. But if combined and enhanced using “return on experience,” or ROX, measures, these two programs can unlock each other’s potential.
Can't solve 21st-century problems with 20th-century ways of thinking: PwC Network's Blair Sheppard
In an exclusive conversation with People Matters, Blair Sheppard, Global Leader, Strategy and Leadership for the PwC Network shares some insights on “The Six Paradoxes of Leadership”, the four global crises we face today, and how the tragedy and suffering of the COVID-19 pandemic has also presented us with an urgent opportunity to reset our approach
टीसीएस के दायरे में आएंगे एमएफ और एआईएफ!
• एम्फी ने सीबीडीटी से म्युचुअल फंडों को खरीदार एवं विक्रेता की परिभाषा से बाहर रखने की मांग की • 1 अक्टूबर से वस्तुओं के विक्रेता को 0.1 फीसदी की दर से कर संग्रह करना है । • अगर कर देनदारी से ज्यादा टीसीएस की कटौती होती है तो खरीदार ब्याज के साथ रिफंड पाने का हकदार होगा
नकद जीएसटी जमा की मंजूरी संभव
पीडब्ल्यूसी के मुताबिक कंपनियों की मदद के लिए सरकार कर सकती है फैसला
कर करार में बदलाव की मांग
बहुराष्ट्रीय कंपनियां कर प्राधिकरणों के साथ एपीए समझौतों में चाहती हैं संशोधन
NEED FOR CONFIDENTIALITY AND INTEGRITY DURING REMOTE WORKING
The increasing adoption of remote working, there is an immediate need to deploy advanced cyber-security technologies to ensure the confidentiality, integrity and non-repudiation of data
The Future Of Travel (In The Post-Covid-19 Era)
Can travel & tourism have a net positive contribution to conservation, the environment and the community, asks Sonu Shivdasani
It is no surprise that even today cyber attacks attract the maximum attention. In India Also, the corresponding data generated by the large population makes us a goldmine for cyber criminals. How do we go about handling this? J Kesavardhanan, Founder & CTO, K7 Computing, tells us more
IPO Market Saw Fewer Deals But Higher Proceeds In 2019
Singapore was a small dot amidst a bleak global landscape for initial public offerings (IPO) in 2019, as total proceeds rose over fourfold to $3.13b from 2018’s $730m. The number of IPOs dipped to 11 from 15 in the previous year, according to PwC Singapore.
We aim to work with 9000-10,000 hospitals by end of 2020
HealthNine,an ITfirm, interconnects healthcare stakeholders to enable real-time exchange of data and transactions. Ritesh Kajaria, CEO,HealthNine Technologies explains how its system works as a centralised health information exchange for all healthcare entities,the need for such a solution in the Indian market,their growth plans and more, in an interview with Lakshmipriya Nair
The podcast industry is booming with locally created content encompassing fiction, comedy and information of every kind.