In just a few months, companies have been forced to look at remote work in an entirely new way in response to the effects of the COVID-19 pandemic. Before the pandemic, the ability to work from home was offered as an attractive perk to accommodate particular employee needs. This view has changed.
As more and more communities began to shelter in place during the coronavirus outbreak's initial days, a new perspective on the importance of remote work took shape—one that considers remote work a lasting means to operate and conduct business.
As the dust settles on the first half of 2020, the impacts of rapid change across industries are becoming clearer. Upward-trending demand for digital banking solutions is an obvious development of importance for financial institutions.
Another expected effect that will touch FIs is a continued rise in remote work. Citing benefits including fewer disruptions and increased flexibility, many finance leaders are embracing remote work. In fact, a Gartner survey of finance leaders shows 74% of respondents are planning to make a permanent shift toward increased remote work after the COVID-19 outbreak.
The Financial Brand and other industry participants have laid out a number of developments that FIs may expect as remote working becomes a growing fixture. They include both positive and possibly negative possibilities:
No matter what materializes, the consequences of expanded work-from-home policies will make it necessary for organizations to respond in new and sometimes unexpected ways that may have long-term impacts on the way they do business.
Discover a comprehensive list of possible effects FIs may see as remote work increases in this recent article from Financial Brand.
The following Q2 blog entries share more useful information on work-from-home topics: