New Study Reveals Why Not Investing in the Work-From-Home Office of Hybrid Employees Has Dire Consequences

By Gleb Tsipursky • Feb 3, 2023

A new study by Logitech of 3,000 employees and 1,000 IT hardware decision-makers in large organizations found that 89% struggle with video and 85% with audio in their work-from-home office. Less than 40% received accessories other than mice and keyboards from their organizations.

While these results are concerning, I didn't find them surprising. When working with client organizations to help them figure out the best hybrid work arrangements, I invariably get pushback when I bring up investing in hybrid worker home offices. CFOs don't want to "waste" money on employee home offices after already paying for a set-up at the office; in turn, IT and facilities directors express reluctance to stretch their already-thin resources to support the tech and ergonomic needs of staff working from home.

After all, these leaders say, we already gave in to employee demands for flexibility and allowed them to work from home part of the time. They can pay for their own equipment and furniture.

The reality of work from home office setups for hybrid employees

In reality, the large majority of workers don't pay to equip their home offices. When I ask about this issue in focus groups for my clients, employees tell me it's the company's job to fund their work-from-home needs. They feel it would be unfair for them to buy whatever they need for their home office just for the sake of doing work for the company. Indeed, in a survey I ran on LinkedIn with over 200 respondents, over two-thirds of respondents believe companies should cover the costs of equipment.

So they end up struggling with technology and ergonomic challenges. Doing so harms their productivity since they can't work as effectively. It undermines their wellbeing, due to physical discomfort from lack of ergonomic furniture and mental discomfort from concerns about how they appear on camera. It undercuts retention because employees feel frustrated and resentful over not having the equipment they need to do their job well.

And it hurts their collaboration and communication: poor video and audio quality are a bigger problem for those the employee is communicating with rather than for the employee themselves. That involves other employees, but also external stakeholders, such as clients, vendors and investors.

All of that harms a company's bottom lines: as I tell leaders with whom I work, do they really want to lose a sale because they didn't get a good microphone for their sales staff? That's not an exaggeration: the Logitech study found that 37% of respondents hold video calls with clients.

With 79% of companies switching to a hybrid work modality, according to the EY Work Reimagined Employer Survey, a large portion of the work employees do for a company will be done from home offices going forward. Given that, I tell my clients that it's imperative to invest in equipping staff for work from home.

Work from home office funding: A case study

I asked Dudley to give feedback on how I helped my consulting clients determine how to support the home offices of their workers, using the example of the University of Southern California's Information Sciences Institute.

First, we surveyed staff to determine their needs - Read the Complete article HERE

Comments

TruStage To Launch TSDA, Bringing Stablecoin Infrastructure To Community FIs

MADISON, Wis.— TruStage Tuesday today announced the planned launch of TruStage Stablecoin (TSDA), a fully reserved U.S. dollar stablecoin. At its core, TSDA is designed to broaden access to digital payment infrastructure for community-based financial institutions, TruStage explained. “A trusted partner of credit unions for more than 90 years, TruStage currently works with more than 93% of 4,300+ credit unions nationwide, which collectively hold more than $2 trillion in assets. TruStage Stablecoin will be among the very first stablecoins specific to community based financial institutions and is supported by decades of industry relationships, financial strength, and operational excellence,” TruStage said. “In my career working with credit unions, I’ve never witnessed the level of engagement surrounding any technology advancement similar to what I’m seeing with stablecoin solutions right now,” said Brian Kaas, president and managing director of TruStage Ventures, the venture capital arm o...

Read Complete Article HERE>»

Sunday Reading - Where Beatniks Come From

Where Beatniks Come From An introduction to the Beat Generation The Beat Generation was an American literary movement that rose to prominence in the 1950s. A loosely affiliated collection of poets, novelists, playwrights, publishers, and other artists reacted to what they considered an anti-intellectual and homogeneous social order following World War II. The writing of the Beat Generation used experimental forms, surreal imagery, and vernacular language, and emphasized the importance of " spontaneous prose " to mimic the improvisation of jazz. Although the Beats praised canonical poets like William Blake, Arthur Rimbaud, and Walt Whitman, much of their work sought to rebel against literary tradition. The Beats' radical politics and nonconformity influenced several subsequent countercultural ...

Read Complete Article HERE>»

As Expected, Fed Opts Not to Raise Rates--But Says It May in Future

WASHINGTON–As expected, the Federal Reserve has adjourned its meeting here without raising rates, but it also indicated it could again do so in the future. The decision means rates remain at a two-decade high. The adjournment without action marks the second consecutive meetings at which the Fed has not raised rates, it the longest period without an increase since it began to lift rates from near 0% in March 2022. In announcing it would maintain the Fed Funds rate at a range of 5.25% to 5.50%, the Fed said in a statement that recent indicators suggest economic activity expanded at a strong pace in the third quarter, job gains have moderated since earlier in the year but remain strong, and the unemployment rate has remained low. Inflation remains elevated. ...

Read Complete Article HERE>»

Sunday Reading - Year of the Fire Horse

Year of the Fire Horse Lunar New Year celebrations kick off tomorrow, ushering in the Year of the Fire Horse in the Chinese zodiac. The 15-day festivities, observed by billions worldwide, start with the new moon and end with the Lantern Festival. China anticipates a record 9.5 billion trips during the 40-day travel rush around the holiday, the world’s largest annual human migration. The horse is the seventh animal in the 12-year zodiac cycle and symbolizes energy, independence, and ambition. Those born in horse years are seen as dynamic, courageous, and charismatic. Many see the Year of the Fire Horse as a time to tak...

Read Complete Article HERE>»

James Hunter, Executive Director of Credit Union Development for New Orleans Firemen’s CU, knows too well how expensive it is to be poor.

NEW ORLEANS FIREMEN’S FCU 􀀁 METAIRIE, L A passion for empowerment James Hunter knows too well how expensive it is to be poor. It’s what he sees every day as mortgage director and executive director of credit union development for $182 million asset New Orleans Firemen’s Federal Credit Union, Metairie, La., and executive director of The Faith Fund, a nonprofit partnership that seeks to provide a financial hand-up to the undeserved. It’s what inspires him to come to work every day and drives his passion of empowering people and setting them on the path to financial security. “Too many people are too far away from the starting line,” Hunter says. “Payday loans are a big business in Louisiana. Exorbitant fees and interest from payday loans drain more than a quarter of a billion dollars a year. Baton Rouge supports one of the top three pay-day loan markets in the U.S.” The Faith Fund was formed to counteract that. It’s a unique cooperative relationship between like-minded busi...

Read Complete Article HERE>»

NCUA promises flexibility in examinations and the flexibility to prudently adjust or alter member loan terms

In an effort to help members through the coronavirus crisis, the NCUA will give credit unions the flexibility to prudently adjust or alter member loan terms and will not subject those decisions to “examiner criticism,” agency Chairman Rodney Hood said Monday. Hood, in a letter to credit unions , outlined the steps the agency is taking to address the health emergency. Those steps include requiring all agency staff to work offsite through March 30. All examination work will be conducted offsite as well, the agency said. “A credit union’s efforts to work with members in communities under stress may contribute to the strength and recovery of these communities,” Hood wrote in outlining steps that credit unions may take to help members. Those steps include: Waiving ATM fees and increasing ATM daily cash withdrawal limits. Waiving overdraft fees. Waiving early withdrawal penalties in time deposits. Easing restrictions on cashing out-of-state and non-members checks. Easing credit terms f...

Read Complete Article HERE>»

LA County firefighters help each other cope with toughest part of the job

This is an excellent program, and no matter what size your department is, you should be prepared. Scott Ross talks over issues with Firefighter Richard Conejo who was recently affected by the death of a fellow firefighter . They meet under the auspices of the LA County Fire Department's Peer Support Program. **** Read More ; LA County <b>firefighters</b> help each other cope with toughest part of the job :

Read Complete Article HERE>»

One Group of Competitors Has $3 Average OD Fee

By Ray Birch LAKE FOREST, Ill.—A new study suggests credit unions should be less concerned about what big banks are doing with overdrafts and instead focus their attention on fintechs. A new report from Moebs $ervices reveals fintechs continue to grab an even greater share of the checking market, and a big reason is a $3 average overdraft fee combined with targeted marketing. “Fintechs are raking in the checking market share by going after those consumers who seldom overdraw but do so enough to add to profitability,” explained Michael Moebs, economist and chair of Moebs $ervices. “Fintechs are targeting, with one checking account, people with higher FICO scores. This is not what CUs, banks and thrifts are doing. Plus, most of the fintechs will pay interest on their checking account. It is classical financial services pricing— using fees, rates and balances.” ...

Read Complete Article HERE>»

Is it a ‘skip’ or a ‘pause’? Federal Reserve won’t likely raise rates next week but maybe next month

WASHINGTON — Don’t call it a “pause.” When the Federal Reserve meets next week, it is widely expected to leave interest rates alone — after 10 straight meetings in which it has jacked up its key rate to fight inflation. But what might otherwise be seen as a “pause” will likely be characterized instead as a “skip.” The difference? A “pause” might suggest that the Fed may not raise its benchmark rate again. A “skip” implies that it probably will — just not now. The purpose of suspending its rate hikes is to give the Fed’s policymakers time to look around and assess how much higher borrowing rates are slowing inflation. Calling next week’s decision a “skip” is also a way for Chair Jerome Powell to forge a consensus among an increasingly fractious committee of Fed policymakers. One group of Fed officials would like to pause their hikes and decide, over time, whether to increase rates any further. But a second group worries that inflation is still too high and would prefer tha...

Read Complete Article HERE>»

CU Board Modernization Act Passes House

Backed by NAFCU and CUNA, the legislation would reduce the number of times CU boards must meet each year. By Michael Ogden | September 30, 2022 at 01:00 PM U.S. Capitol building, Washington, D.C. (Source: Shutterstock) The House of Representatives passed the Credit Union Board Modernization Act on Thursday, the fate of which goes to the Senate, where a similar version was introduced in May. The bill would alter the Federal Credit Union Act’s requirement that federally charted credit unions meet 12 times each year and reduce that number to a minimum of six times each year. For months, CUNA and NAFCU officials have backed the bill , along with representatives from the California and Ohio Credit Union Leagues. “This bill would provide a needed update to credit union board meeting requirements, freeing up time and resources that can be dedicated to meeting members’ needs,” CUNA President/CEO Jim Nussle said. “We thank Reps. Var...

Read Complete Article HERE>»

First-responder Credit Union Newsroom

Search This Blog