There has been much discussion in recent years around the merits of remote or in-office workplace policies, with strong viewpoints on both sides of the debate. At Ancora, this is a topic that has been discussed at length among our management team to try to land on the right answer for our firm.
While I’m of the opinion that being in the office is imperative for both the organization and the employee, objectively, I do understand the argument for remote or hybrid work. Working remotely typically allows for greater flexibility as it relates to schedules, and possibly better work-life balance as well. There are certainly commuting cost and time savings, which could be used for personal benefit instead. Depending on the worker, some may even have improved productivity when working remotely, in a space they’ve created to best suit their needs. The ability to be entirely remote could even allow the worker to be based in a different part of the country — maybe that’s closer to family or other factors that could improve their quality of life.
For the organization, benefits of a remote workforce may include lower overhead in terms of office space, a wider talent pool than may be available locally, and potentially even minimized turnover. Employers could see a less stressed, more engaged and motivated workforce. It should also serve as a positive incentive to continue investing in technology to support the workforce, which is more likely to, in turn, benefit the organization in other ways as well.
While I recognize that all this may be true, my counterpoint is that I do believe it is extremely important that employees come into the office with regularity. My perspective as a leader may be a little old school, but still open to new ideas. However, I believe collaboration, communication and trust increase dramatically when people meet face to face. The impromptu conversations that occur in passing just don’t happen in a remote environment, and I believe culture can suffer because of it.
When I see employees having lunch together or catching up after the weekend, I don’t doubt that they are strengthening relationships and positively impacting the atmosphere and culture of the business. Creating a stronger, happier team with an attractive culture is also more apparent to the client in all of their interactions with the business. Energy and enthusiasm can feed off each other to create a more impactful experience for everyone. Also important for younger or newer employees, I believe the day-to-day interactions with managers and peers are imperative for professional growth. In my view, being in the office and visible increases their opportunity set.
In the end, Ancora has embraced the hybrid model, though we lean towards being in the office more often than not. I believe that for a team to be truly effective, building relationships in person within a company is as important as building them outside an organization. By having a hybrid approach, organizations can maintain the flexibility employees truly value, but I would encourage leaders to lean into the in-person experiences to improve relationships and growth for all stakeholders. ●
Fred DiSanto is Chairman and CEO of Ancora
