Remote working, virtual meetings, and social distancing have become our ‘new normal’ during the unprecedented times under COVID-19. This has brought with it a myriad of challenges that companies are now trying to navigate without experience or best practice to guide them.
At Alpha, we are thankful to be working with the majority of the industry leading asset and wealth managers, giving us countless examples of how companies are facing up to the new challenges. Among other things, we have been particularly impressed by the speed at which our clients have adapted to the rapidly changing environment, government guidelines, and increasing uncertainty.
Rethink your strategy
One of the key themes that we have seen emerge is the importance of wellbeing in maintaining a healthy and productive workforce. During this crisis, the wellbeing of the organisation has proven central to the continued success, where motivation and support have been key drivers of effective virtual collaboration. To be successful, wellbeing needs to be deeply embedded in culture, values and strategy. At Alpha, based on our experiences and the success stories we have seen in the industry, we have established four cornerstones of a successful wellbeing strategy during a crisis: ongoing support, open communication, balance and self-care:
Listen to your Team
It’s time to start thinking outside the box, to find new ways to create a supportive environment where wellbeing discussions are encouraged and acted on. We have found that to provide effective staff support during times of uncertainty, it helps to run regular, anonymous pulse surveys. These serve as a ‘temperature check’ of the team on the topics of wellbeing, productivity and stress. At Alpha we are using the results to drive new initiatives and guide our discussions with the team. Don’t try and guess what your team might need, ask them.
As it can be difficult to brainstorm and kick-start new initiatives, we have included some examples of wellbeing initiatives recently implemented at Alpha, in response to COVID-19:
Alpha is here to support our clients as much as possible and will continue to distribute our views on the most effective practices from across the industry. If you have any examples of good practice to share or would like further information on remote working and collaboration, please do contact us.