Get Your Butt To The Office
A quick thank you to those of you who read, share, and comment about The $tarting Line. Currently, monthly posts are getting over 1300 views and a 72% open rate! But I am still looking for more financial literacy topics to write about so please keep the ideas coming.
No. 36
Why Read?
This advice may change your career trajectory.
Zoom, Slack, Email, and Text are not suitable replacements for human contact.
You need a mentor, and you need to learn how to behave in the workplace.
Read my reactions to the PGA/LIV Merger
Perhaps this is just an old guy rant but humor me and read to the end. The effects of Covid-19 on society, generational differences, and the workplace will be studied for years to come. Stories about general incivility, hyper-activism, and tribalism, grace the pages of daily newspapers, the Internet, and TV. Perhaps these issues will run their course and by the end of the 2020s, we will see a new dawn. One thing that we can’t afford to simply let run its course is work-from-home because the ill effects of this trend will be felt for decades to come on individuals, businesses, and GDP.
Now, before you hit delete just hear me out. I believe that work-from-home has its place in the workforce in certain circumstances. After all, I was a senior executive at the company that pioneered remote access/telecommuting in the 1990s. However, the benefits and challenges of remote work can vary depending on individual circumstances, job roles, and industry requirements.
Work-from-home arrangements can offer various benefits and costs for both businesses and individuals. Here are some of the key advantages and challenges associated with remote work (with a little help from ChatGPT):
Benefits for Businesses:
Increased Productivity: Many individuals find that working from home allows them to be more productive due to fewer distractions and interruptions commonly found in office environments.
Cost Savings: Businesses can save on costs related to office space, utilities, and other expenses when employees work remotely. This can be particularly beneficial for small businesses or startups with limited resources.
Access to Global Talent: Remote work enables businesses to hire employees from different locations, expanding their access to a diverse and global talent pool.
Enhanced Employee Retention and Satisfaction: Offering remote work options can improve employee satisfaction and work-life balance, leading to higher retention rates and reduced turnover.
Business Continuity: Remote work provides a level of flexibility that can be valuable during unexpected events, such as natural disasters or health crises, enabling businesses to continue operations.
Challenges for Businesses:
Communication and Collaboration: Remote work can make communication and collaboration more challenging, especially for teams that heavily rely on face-to-face interaction. (While technology tools and strategies can help mitigate these challenges there is simply NO REPLACEMENT for human contact. There is also a loss of innovation due to the lack of serendipitous meetups and accidents that can often lead to new ideas and products.)
Monitoring and Accountability: It can be more difficult for managers to monitor and ensure accountability when employees work remotely. Clear expectations, goal setting, and regular check-ins are crucial to address this issue. (Yet, I continue to hear stories of employees who regularly miss meetings and deadlines. I even once found out that a remote employee was working two jobs. There is a level of maturity, honesty, and integrity that comes with the privilege (yes, privilege) of working from home that should not be abused but often is.)
Technology and Infrastructure: Businesses must provide employees with the necessary technology and infrastructure to effectively work from home, including secure network access, communication tools, and remote support. Working from the corner coffee shop can present a huge security risk, not to mention how annoying I find the people who think it is appropriate to have meetings while in public places. (To the person at my local coffee shop – the coffee that I spilled on your laptop by accident wasn’t really an accident.)
Managers and Management: Most businesses are not set up to properly manage individuals and teams that are not within close proximity. (The claims of increased productivity are not entirely evident across the board.)
Benefits for Individuals:
Flexibility and Work-Life Balance: Working from home allows individuals to have more control over their schedules and achieve a better balance between their personal and professional lives. For instance, it allows parents the needed flexibility to raise their children and save on daycare.
Elimination of Commute: Remote work eliminates the need for commuting, saving time, reducing stress, and potentially lowering transportation expenses. There is a positive environmental impact as well.
Increased Autonomy: Working remotely often provides individuals with greater autonomy and the ability to structure their work in a way that suits their preferences and productivity. (This is true only for self-starters and those who are good at managing and motivating themselves, which is not most people.)
Improved Job Satisfaction: Many individuals find remote work to be more satisfying, primarily due to increased flexibility, reduced office politics, and an improved work environment. (You have the privacy and customization of your own office without having to smell your cube-mate’s tuna sandwich.)
Health and Well-being: Remote work can contribute to better physical and mental health by reducing exposure to workplace stressors, providing a personalized work environment, and allowing for better work-life integration. (Well, this must explain the increase in cases of depression and anxiety.)
Challenges for Individuals (aka why you should get your butt to the office):
Potential Social Isolation: Working from home can lead to feelings of social isolation and limited interaction with colleagues, which can impact mental well-being. Efforts to maintain social connections and engage in virtual collaboration can help mitigate this challenge but is not a replacement for human contact. (Unless you are one of those odd people who decide to marry your pen pal who is serving 10 to 15 in a Federal prison, you can’t truly get to know people or feel like you are part of a team if you do not spend meaningful time with your teammates.)
Blurring of Boundaries: Without clear separation between work and personal life, individuals may find it challenging to establish boundaries, resulting in longer work hours and potential burnout. (For those of you who profess better work-life balance, you are kidding yourselves. Your balance is constantly shifting due in part to employers now thinking that you are available 24x7.)
Limited Career Advancement Opportunities: In some professions or industries, remote work may limit networking and career advancement opportunities that typically arise from in-person interactions. (When you are in your 20s and 30s and beginning your career, you need the structure that college life did a lousy job of preparing you for. You are not getting any mentorship, nor are you learning how to behave properly in a work environment. If you eventually want to be in the room where it happens proximity matters.)
Dependence on Technology: Remote work relies heavily on technology infrastructure, and technical issues or connectivity problems can disrupt productivity. Individuals must have access to reliable technology and possess the necessary technical skills to overcome such challenges. (“YOU’RE ON MUTE.” “YOU DO REALIZE THAT YOUR CAMERA IS ON.” “WHY DO YOU LOOK LIKE A TALKING POTATO”)
Yet many still want to work from home!
The reason? You don’t know what you don’t know and what you are missing.
I am blessed to have close friends whom I met at work, some more than 35 years ago. I have had the privilege of having great mentors in my life. I recently met with the son of one of my first mentors at IBM. I told him how his mom helped me navigate the politics, principles, and even the dress code when I started my first job out of college. She had my back in several situations which included saving my job once and scoring me company tickets to the sixth game of the World Series between the Mets and the Red Sox. (Sorry, to bring up that sad memory for you Red Sox fans.) Trust me you are missing out. Get your butt back to the office.
The Sad Truth About The Power of Money
I love the game of golf. I love playing and watching or being watched by golf. In fact, I am pretty sure that I hold the unofficial world record for having been watched by golf more than any human on Earth. My wife will back me up on this. I often return from a morning round of golf, turn on the Golf Channel, and fall asleep to the dulcet tones of Jim Nance.
This past week the PGA (Professional Golfers’ Association of America) announced that it would merge with LIV (I have no idea what LIV stands for nor do I care). What I do know is that a number of golfers jumped from the PGA and joined this Saudi-backed golf tour that baited them with hundreds of millions of dollars. To be honest, I didn’t miss most of the characters who jumped ship. Many are at the end of their careers and those who weren’t included a known cheater.
They looked the other way when asked about Saudi human rights violations and talked about the life-changing money and the grind of playing on the PGA Tour where they were subjected to four days of golf each week and the possibility of being cut from the field after Friday’s round. Oh, the horrors! Look geniuses, if you are an adult who makes your living by either hitting, throwing, kicking, or catching a ball count your blessings and show some humility. Most people in this world work more than 60 hours per week managing a job and a family, live life paycheck to paycheck, and don’t have health insurance or a team to support them that includes a personal trainer, a masseuse, a psychologist, a swing coach, a private plane, and someone to carry their bags. You chose money over principle and character. End of story.
The head of the PGA mounted a campaign to undermine the new LIV Tour and enlisted the help of several top PGA golfers in support of this effort. He is on the record making some very disparaging statements about LIV’s backers, players, and management. Then, he did an about-face, threw the loyal members of his tour under the bus, and proposed a merger where he becomes the global CEO of Golf. There’s an old saying, “Money talks and bullsh#t walks,” only this time the BSer walked right into the warm embrace of the Saudi backers. (I have seen no mention of how much money his new job will pay, but I’m certain it is life-changing money.) E tu Brute?
Aside from the fact that I will have to find another voice to put me to sleep on Sunday afternoons, I am deeply bothered by this situation. I’ve grown cynical enough to expect lies and double-speak from our political leaders. I just expected more from the leaders of the great game of golf – a sport where you call penalties on yourself and honoring the game once stood above all else. (Why? Because I am an idealist.)
A couple of months ago the topic of the LIV Tour came up in conversation with some golf buddies, golf pros, and caddies. Most, especially the pros and caddies, were supportive of the golfers who jumped ship to the LIV Tour citing the money. One asked me what I would do if presented with the same deal. I calmly explained that on 9/11 thirty-nine students and alumni from my alma mater were incinerated, several of whom were my rugby teammates. Principles and character still matter. (Once again, the idealist.) I need to like and respect the face that I shave each morning. I guess that’s why Phil Mickelson grew a beard when he joined LIV.
“Those that fail to learn from history are doomed to repeat it.” - Winston Churchill