Fundamental changes to working patterns, work models and employee engagement brought about by the COVID-19 pandemic are not going away. They’ve been embraced by many within the financial services industry, and for good reason. Employees benefit from greater flexibility, improved satisfaction and higher morale. Employers benefit from greater employee retention, increased loyalty and access to a wider talent pool.
The workplace transformations that have occurred since the pandemic began have been remarkable; however, equally notable are the things that have increased in value and importance—namely human connection, collaboration and corporate culture.
These were some of the takeaways from a panel discussion at the 2022 Strategic Leadership Forum (SLF). SS&C joined industry colleagues on the “The Great Reprioritization” panel.
A common thread throughout our panel discussion was change. Whatever your organization experienced during the pandemic, change was constant. Things are not going back to the way they were before COVID-19, especially when it comes to how we design work. When the pandemic began, SS&C’s global workforce, which consists of more than 24,000 employees across 140 global locations, shifted to a work from home model like so many other companies.
We quickly realized the value of investing in technologies around collaboration and communication. Two years later, this focus hasn’t wavered. Whether our associates are in the office or remote, making sure our associates have the technology that is going to make them more effective at their job is still paramount.
A common question for many leaders today, including our panel of experts, is what the new work model will be in our new reality. Does it consist of two to three days per week? One week per month? Or exclusively in person?
At SS&C, we have opted for a hybrid approach where each business leader works with their team to determine what will work best with a minimum of four to six days in the office each month. One of the lessons we learned from the pandemic is how important human interaction, connection and collaboration are for each of us. We see the positive impact from collaborating in person when we come together for projects, workshops, onboarding events, and meetings with our teams and with our clients. We’re also firm believers in offering our employees maximum flexibility.
Firms have experienced their share of challenges brought about by COVID-19. It’s been inspiring to see how our industry has risen and adapted to these challenges, which have also spurred an influx of innovation, creativity and focus—an exciting sign of what’s to come for our industry long term.
As much as workforce models and the way work gets done have changed, they will continue to evolve. Our industry will continue to discover and develop new ways of working together, enabled by the way we think about our people and the way we think about technology. As a service provider, we’re excited by the changes we’ve already made in our workplace and what’s to come.
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Alternative Investments, Asset Management