WorkEverywhere

"Working From Home Is Powering Productivity" (International Monetary Fund) Summary In this article by Nick Bloom, a leading expert on remote work, published by the IMF, remote work is shown to drive productivity and counteract the long-term economic slowdown. Since the pandemic, remote work has stabilized at five times pre-pandemic levels, boosting productivity through both labor and capital efficiencies. Hybrid work, by reducing commuting time, has increased workforce participation, particularly benefiting caregivers, women, and people with disabilities. This trend may even promote higher fertility rates by making parenting more manageable. On the capital side, lower demand for office space and commuting could free resources for housing and infrastructure, improving urban productivity. Hybrid models generally have a neutral-to-positive impact on productivity, while fully remote setups depend heavily on effective management. Remote work also allows businesses to tap into global talent, further enhancing productivity. Additionally, reduced commuting leads to lower pollution, improving cognitive function and fostering innovation. Although city centers may see less retail activity, repurposing office spaces for affordable housing could revitalize urban living. Dr. Gleb's Take This article offers an optimistic outlook on remote work, which I share. Remote and hybrid models have broadened workforce participation, particularly benefiting women, caregivers, and people with disabilities by freeing up commuting hours. The flexibility of remote work also supports higher fertility rates, helping families balance career and childcare more effectively. On the capital side, reduced demand for office space opens opportunities to convert these spaces into affordable housing, benefiting essential urban workers. Hybrid work, which balances home and office environments, is easier to manage than fully remote work, providing companies with flexibility while still offering in-person collaboration. Firms using remote models can access a global talent pool, gaining a competitive edge. Lastly, the environmental benefits of less commuting—improved air quality and cognitive function—contribute to productivity and overall well-being.

Last night we hosted a roundtable dinner with 28 workplace leaders from a range of industries to discuss their challenges with the hybrid workplace. This led to a fascinating and expansive discussion where we debated: 1️⃣ What is the *purpose* of the office, the *purpose* of working in teams, the *purpose* for individuals at work? 2️⃣ Hybrid working is here to stay but is uncoordinated. How can organisations create an environment that is win/win for employees and employers? 3️⃣ Can workplace expand beyond 'cost per square foot' into experience per sqft, and how have organisations been able to capture data around how ways of working affect productivity? 4️⃣ How can we understand the sentiment of our employees as consumers of ‘space as a service’ to improve the workplace offering? 5️⃣ What role can technology play in connecting people, through a streamlined process, to collaborate in shared space? 6️⃣ Given the uncertainty prevalent throughout markets today, how are organisations navigating and planning their property portfolio for the long term? There were countless examples of how these global enterprises were tackling these challenges across their global markets. I came away with so much insight and I hope everyone else did too. Thank you to all of our attendees for making last night one of the most thought provoking sessions I have been privileged to be part of. If anyone wants to join the waiting list for the next event, feel free to join the HubStar Workplace Connect LinkedIn Group here: https://lnkd.in/eiKQ95K7 #MagnetsNotMandates #HybridWorking HubStar

Sukkot, a seven-day Jewish celebration observed each fall, is an event that brings joy even in the midst of suffering, Arthur C. Brooks writes: “You don’t need to be Jewish to benefit from Sukkot’s technique of reverse emotional causation. Learning this method can help you find more to rejoice in.” https://lnkd.in/e3RzKePn Sukkot commemorates the exodus from Egypt and the end of the harvest season. Observants erect tent-like structures outdoors, where they eat, pray, and even sleep, recalling the temporary dwellings the Israelites made during their 40 years in the desert. The holiday instructs celebrants to “be humble, even if they feel proud; to be grateful for the abundance they enjoy, in spite of their resentments; to celebrate as befits the holiday, even if their hearts are hard,” Brooks continues. “By this means, Sukkot engineers the joy it seeks to instill.” “We live in an age in which emotional authenticity is considered paramount,” Brooks writes. But rather than act out in response to negative basic emotions, he says, “a better way to live employs what behavioral scientists call metacognition.” This is a capacity to see your emotions as important information, but not as a mandate for your behavior. Practices of metacognition such as Vipassana meditation, journaling, and prayers shift “the experience of involuntary emotion into the realm of conscious attention.” Holidays like Sukkot don’t “necessarily stimulate positive emotion; that depends on how you decide to celebrate the occasion,” Brooks writes. “People don’t celebrate because they feel joy; they feel joy because they have made a specific commitment to celebrate.” That’s why you can adopt your own personal Sukkot whenever your well-being isn’t where you want it to be: Set aside a week where you try to focus less on yourself and instead pursue a project that gives back to those around you. You might also replace talking about yourself with the things for which you are grateful. “By doing these things, you yourself will light up, creating the joy you seek,” Brooks continues. Read more: https://lnkd.in/e3RzKePn 🎨: Jan Buchczik

Lazard provides junior bankers with the opportunity to work on high-stakes, high-profile deals. We also provide one of the most flexible work-from-home policies on Wall Street. We believe in the combination of meaningful work, and as much agency over where and when you work as possible. I discuss our exceptional talent at Lazard and more in my forthcoming interview with David Rubenstein. For a preview, watch this clip: