The future of work, the changing shape of the office, and the end of business travel
The coronavirus has affected everything, from how we work and take care of one another, to how we shop, pay, and entertain ourselves.To understand how the pandemic is transforming business, we recently asked 200 CEOs from a variety of industries in the US and beyond a three-part question:Advertisement
How will the way you operate change because of the coronavirus? How will your industry change? And how will the world change?
You can read responses from the CEOs of companies like Walmart, Pfizer, Zoom, Man Group, and ViacomCBS right here:WHAT'S NEXT: 200 CEOs look into the future of business
I want to highlight three themes that appeared in many of the answer we received.
The future of workChief executives say the pandemic has pointed the way toward a near future of flexible work, a more relaxed work-life balance, and more inclusive cultures, Allana Akhtar reported. "It's difficult to draw many positives from a crisis that has had such a significant human cost and that has created such dire economic circumstances for so many families," Lee Olesky, CEO of the financial-services company Tradeweb, told Business Insider. "I hope we'll use it as an opportunity to ask some tough questions: Do we need to adjust the work-life balance? How can we make sure the most vulnerable are better protected? Are we really getting healthcare right?"Advertisement
From her story:
Aaron Levie, CEO of the cloud-content-management company Box, said the company would "absolutely" shift to a more "dynamic, real-time" work style, defined by working from home and flexible work hours. Todd McKinnon, the CEO of the software company Okta, said the future of work would likely enable employees to work anywhere without sacrificing benefits like healthcare and volunteer opportunities.You can read the full story here:Advertisement
The changing shape of the officeAlex Nicoll reported that because
"We used to joke about meetings that could have been emails, but now we'll wonder why we can't just do them in our pajamas with our pets on video conference," Nancy Dubuc, Vice Media Group CEO, told Business Insider. "There's a balance of course because some work is actually more productive and better done in person, but it will never need to be 5 days a week, all day every day again."
As Alex reports, when companies begin to shift their business models to accommodate remote work, the office will change. They may cut back on individual workspaces and increase investment in collaborative spaces, turning the office into a cultural and training hub."This (more remote work) means adapting some of the office structure to help this way of working succeed, with even more video facilities and more flexible group spaces for brainstorming sessions," Luke Ellis, CEO of investment manager Man Group, told Business Insider. Advertisement
You can read the full story here:The office as we knew it is dead Advertisement
The end of business travel
Madeline Stone reported that many executives are reevaluating
"I think we're seeing that you can do a lot [via] video conferencing, and that's going to have a big impact on how often people travel for work," Airbnb CEO Brian Chesky told Business Insider. "Business travel isn't going to go away, but I think it's going to look very different in the future."From her story:Advertisement
"It may be the case that we can do less travel, but we can get more done, that we're more thoughtful about what the live meetings need to be," said Doug Ingram, CEO of Sarepta Therapeutics, a medical research company based in Massachusetts.
You can read the full story here:Business trips could become a thing of the past as the pandemic pushes CEOs to ask themselves what warrants a flight and what could've been a Zoom callAdvertisement
I'd love to hear from you. Do you agree? How will the way you operate change because of the coronavirus? How will your industry change? Let me know.
Below are headlines on some of the stories you might have missed from the past week. Stay safe, everyone.-- MattAdvertisement
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