Creating a Modern Financial Workplace
Finding a Balance Between Productivity and Employee Experience
Many of us are still undecided on the role of the workplace in today’s more digital, hybrid world. But in the financial sector, most companies are firmly on the side of a return to the office – just recently JP Morgan announced a plan to end its hybrid work allowance, and Barclays is raising its minimum attendance requirement to three days a week, up from just two. According to Business Insider, “Several executives and leaders have said they believe productivity increases when workers are in the office together.” One thing that’s certain is, whether in the office or not, people don’t expect everything to go back exactly as it was before.
Today, people have a completely different workspace journey. SPS Transformation Expert Nicole Mangarella explains: “Before, a workplace just meant an office, and mapping out how employees interacted with their space was relatively straightforward. Now, a workplace means a holistic working environment, and that might include the office, home, a hotel, or the train. And people don’t expect to compromise on accessibility, wherever they work from.”
Building this new environment isn’t an easy task. Some people flourish in a home office because of the quiet atmosphere and private space, whereas others feel energized from face-to-face meetings or a social buzz. Today’s workplaces must offer room for different types of work.
“It’s important to have a variety of spaces in a modern office environment,” Nicole continues. “Employees might want a private space for focused work, but also desks for meetings and collaboration, or an area to take calls. People have different preferences, and it’s important that an effective office space caters to them all.”
Creating a suitable environment is a vital step, but it lacks impact if workplace systems are difficult to access or engage with. Keeping employees connected is a challenge in the financial sector, with 88% of financial and insurance leaders saying outdated technology directly impacts the performance of their organizations. What’s preventing the financial world from embracing a digital approach?
Nicole says: “One of the reasons the financial sector has moved slowly on digitization is the security requirements they have to meet. Given the regulations, it’s easy to see why companies would be reluctant to adopt a digital solution, especially when so many transformation partners expect to interact directly with secure networks. “The modern financial workplace has to find a compromise between users’ needs and the company’s regulatory obligations to maintain a positive employee experience.”
Finding the right balance is the key to unlocking productivity, mainly by making people’s lives easier. Greater connectivity streamlines employee interactions with internal systems, letting them focus on their work rather than engaging with different internal systems to access mail, book a desk or sign in to the office.
“Integrating workplace support processes together in one system isn’t out of reach for financial businesses,” Nicole says. “Finding the right technology isn’t always easy – but that doesn’t mean it isn’t worth doing. What works for one business might not work for another, but with good due diligence, the potential benefits are huge.”
A tech-enabled workplace narrows the gap between the physical and digital experience. Employees can easily book meeting rooms, print documents, or request support. Chatbots can limit much of the usual email back and forth, and direct integration with off-site service centers mean jobs can be completed even outside of usual work hours. Importantly for financial businesses, this approach is fully auditable and able to meet strict security and compliance requirements.
Nicole concludes: “Getting the right workplace environment is vital for financial organisations. Their employees are heading back into the office, expecting accessibility and connectivity, while business leaders want greater productivity. Technology is the enabler that strikes a balance between the two.”
Keep your workplace connected
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