As the country opens up, employers and employees are starting to see the benefits of working remotely. At the same time, the FCA raises concerns about the risks of remote behavior.
While teleworking is the standard for some, for others it’s a whole new “normal” and something they have to adapt to adapt to.
How can you compromise coverage with a scattered team? If your company is already promoting a good culture, this is a good place to start. Culture transfers everything from your compliance to your customer results. Companies doing the right thing find a constant transition to remote work much less daunting.
Here are some things the TCC team has learned remotely over the years about dealing with culture and behavior.
Anxiety: a disconnected and demotivated workforce
The company culture is based on daily interactions with colleagues, behaviors and general norms. The FCA is concerned that employees who previously relied heavily on this type of support will quickly differ from their managers, colleagues and company culture without it. Combine that with the increased vulnerability and anxiety that many people currently experience, and you may see decreased motivation, which often results in poor customer performance.
The solution: share clear goals
When employees can clearly see the connection between their daily tasks and larger goals, they are more likely to be motivated to do the right thing wherever they are.
Your first step is to measure engagement. Do your employees understand your values and are they united behind them? When there are gaps in understanding, you need a strategy for communicating your goals. Help your employees see fit in with their daily work and improve results for customers and the company.
Anxiety: reduced accountability
Of course, it’s a lot easier for managers to influence their employees when they all work in the same place, especially in large teams. In the absence of a manager or colleagues setting standards of conduct or ethical advice, regulators are concerned about the increasing likelihood that some employees willfully or unintentionally succumb to misconduct. But now managers must seek other forms of leadership.
The solution: find new ways to connect
Yes, you can still raise your expectations with specific instructions and guidelines, including identifying responsibilities. However, it’s just as important to find new ways to interact with employees to replace missed connections and informal chats. It’s a conversation that creates trust, inclusion and good team dynamics. It is also important to foster a culture of openness and trust, where diversity is valued and where employees feel able to question decisions or speak up when they discover something is wrong.
Fear: the influence of external forces
Despite the marvels of modern technology, the flow of information in many organizations is often informal in offices, where executives can only set expectations by starting day-to-day businesses. As the FCA notes, the influence of friends and family on our behavior, beliefs and culture tends to increase because we spend less time with coworkers.
The solution: a visible guide
Most of the teams have adopted the technology required for virtual communication. However, you need to consider how effectively you and your executives convey key messages through this channel.
Think about who the really influential people in your company are. These people can help set the standard by displaying the right behavior. They are key to building informal communication channels that can help you shape your culture.
How it all works in practice
If you are not actively measuring and tracking your culture, you may not know how the practical actions you have taken affect your risk and compliance. How do you understand how new changes may have shaped your culture? It’s important to research tools and techniques to help you find this out. Because if you decide to build remote work into your business over the long term, implementing it properly can open up a wide range of options for your company, your employees, and your customers.