The pandemic has undoubtedly brought about some unprecedented changes in the work landscape, and remote work has become the new norm. As companies navigate this uncharted territory, the dynamics of compensation and employee expectations are evolving. In this regard, it's essential to explore the changing landscape and how organizations can adapt to the new realities.
The Work-From-Home Shift
Canadian business leaders have come to terms with the fact that remote work is here to stay. According to the latest CEO Outlook report by KPMG LLP, only 55% of Canadian CEOs expect employees to return to the office full-time within the next three years. This result is a significant drop from last year's 75% expectation. Globally, executives remain more optimistic about a total return, with 64% still anticipating it. However, Canadian CEOs are adjusting their strategies to accommodate the changing work environment.
Incentives and Compensation
While the desire to return employees to the office persists, Canadian CEOs are pragmatic. To encourage in-office attendance, 77% of organizations are willing to offer incentives such as pay raises, promotions, and plum assignments. These rewards motivate employees to show up at their desks more often. Interestingly, this percentage is lower than the global average, where 88% of CEOs would provide similar incentives. It reflects the unique Canadian context, where employees already spend more time working from home compared to other countries.
Measuring Middle Managers' Effectiveness
As organizations navigate this hybrid work model, middle managers play a crucial role. They are the connecting leaders bridging hierarchies and ensuring smooth operations. To measure their effectiveness, companies should consider the following dimensions:
- Managerial Duties:
Evaluate context-setting, planning, and delegation skills.
How well do managers define goals and boundaries for their teams?
How do these change with remote workers?
- Team Performance Metrics:
Assess team productivity and employee satisfaction.
Are teams achieving targets and working cohesively?
- Distribution of Work:
Analyze task allocation and workload balance.
Are the right tasks assigned to the right people?
- Appropriate Delegation:
Identify value-added work and empower team members.
Is delegation freeing managers to focus strategically?
Challenges Beyond Remote Work
Beyond remote work, Canadian executives grapple with labour shortages. Skilled workers are in high demand, and CEOs are actively seeking talent. However, finding qualified staff remains a challenge. Even increased immigration hasn't fully addressed the issue. Factors like the high cost of living and housing crunch hinder talent attraction and retention. To fill open positions, 72% of Canadian businesses are recruiting outside the country.
The Loss of Inspiration Through Personal Connection
While remote work offers flexibility, it also comes with a cost. The absence of face-to-face interactions can lead to a loss of inspiration. The spontaneous hallway conversations, coffee breaks, and chance encounters that fuel creativity and innovation are more challenging to replicate virtually. Organizations must find ways to foster serendipitous connections even in a remote setting.
Staying with the Status Quo
Working from home can inadvertently lead to complacency. Without the physical presence of colleagues and supervisors, employees may settle into routines, resisting change. The lack of external stimuli and diverse perspectives can create an echo chamber, reinforcing existing practices. Organizations must actively encourage experimentation, learning, and adaptation to prevent stagnation.
Concluding Thoughts
The work landscape has shifted, and organizations must adapt. By recognizing the value of middle managers, measuring their impact, addressing workforce challenges, and nurturing inspiration and adaptability, businesses can thrive in this new era of work. Remember, the future isn't just about where we work—it's about how we work together.
