The Disconnect Between Remote Workers and Their Companies Is Getting Bigger | Kanebridge News
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The Disconnect Between Remote Workers and Their Companies Is Getting Bigger

More people who work from home say they don’t feel a connection to the mission of their employers

By LINDSAY ELLIS
Fri, Aug 25, 2023 8:50amGrey Clock 3 min

People who work from home are feeling more disconnected from the larger mission of their employers.

In a new Gallup survey, the share of remote workers who said they felt a connection to the purpose of their organisations fell to 28% from 32% in 2022—the lowest level since before the pandemic. The findings are from a survey this spring and summer of nearly 9,000 U.S. workers whose jobs can be done remotely.

By contrast, a third of full-time office workers reported a similar sense of connection, nearly the same as last year. Hybrid workers clocked in highest, with 35% saying their companies’ mission made them feel their jobs were important.

The findings have broader implications for businesses worried about remote work’s effects on employee loyalty and team productivity. For now, many workers say remote work affords them the ability to focus on their essential duties and avoid some of the extracurriculars of office life. This leaves it to companies to try to foster that sense of connection.

In short, more remote workers appear to be approaching their jobs with “a gig-worker mentality,” fulfilling the basic responsibilities of the role rather than anticipating the broader needs of their team or company, said Jim Harter, chief workplace scientist at Gallup, which has tracked worker engagement since 2000. Most professional roles, he points out, tacitly include expectations that go beyond the actual work, such as mentoring others or spurring innovation.

“That’s much more likely to happen if they feel they’re part of something significant,” he said.

Despite the lack of connection, the Gallup survey showed 38% of people who work remotely full- or part-time are engaged, or enthused about their work, compared with 34% of in-office workers.

The conflicting metrics show bosses don’t have any easy answers as they try to provide flexible working arrangements yet fret about worker productivity. Nearly 30% of U.S. workers in remote-capable jobs work exclusively at home, according to Gallup, a share that hasn’t wavered much in the past year. One reason they score higher in Gallup’s engagement metrics than their office peers is that they say they have a clear idea of what’s expected of them.

Many managers are unsatisfied with the current setup. In a Federal Reserve Bank of New York survey of business leaders released this month, the majority said remote work helped in recruiting employees yet worsened workplace culture, team cohesion and mentorship.

“People are a little bit more prone to drift to other employment, feeling less attached to the workplace,” said Howard Liu, chair of the psychiatry department at the University of Nebraska Medical Center, where clinicians can work several days each week from home and see patients virtually.

There’s also a risk that senior faculty may not think to include junior colleagues on presentations or projects if they don’t run into them in person, Liu said. His department now plans large outdoor events each quarter and recently rolled out smaller-group meals, where about 10 colleagues—from clinicians to receptionists—sign up to eat together. The department foots the bill.

Companies are fine-tuning how they manage their remote workforces, adding more virtual check-ins and team-building activities. Some are also bringing them together physically at more critical moments in their work with their teams.

Mr. Cooper, a Dallas-based mortgage lender and servicer, introduced a “home-centric” work model last year, letting staff still mostly work at home while having them come into the office occasionally. But as mortgage rates climbed and business got tougher, the lender’s sales managers asked their teams to come in one to three days a week, said Kelly Ann Doherty, its chief administrative officer.

The managers felt on-site work would help team members learn more from each other, improve individual performance and feel more invested in the organization, she said. It’s paid off: Productivity has improved, and the teams have closed more deals since, she said.

At Microsoft, just over a quarter of teams work together in the same location, compared with 61% of them pre pandemic. The company is now using data from internal research on in-person work and employee surveys to guide managers on when it’s most effective to work face-to-face.

One early finding is that new hires who meet their manager in person in the first 90 days are more likely to ask colleagues for feedback and say they are comfortable discussing problems with managers. These workers are also more likely to say that their teammates ask them for input to inform decisions or solve problems, Microsoft said.

“Think about social connection as a battery—you need to charge that battery every once in a while,” said Dawn Klinghoffer, vice president for human-resources business insights.



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Bank of Sharjah Reports AED 171 Million Profit for H1 2024, Marking a 233% Year-Over-Year Increase

Highlighting a significant recovery and robust growth across all key performance metrics.

Fri, Jul 26, 2024 3 min

Bank of Sharjah has released its results for the period ending 30 June 2024, showcasing robust performance and strong momentum since the beginning of the year. The Bank reported a net profit of AED 171 million, a significant turnaround from the AED 144 million loss in the same period last year.

This remarkable improvement is attributed to a substantial increase in net interest income, stringent credit underwriting, and reduced operating costs, marking a 233% increase over the previous year when excluding the one-time impairment charge from de-linking its Lebanese subsidiary.

The Bank’s exceptional financial results highlight the effectiveness of its strategic focus on sustainable growth, with notable improvements across all major performance metrics. Funded and unfunded income both saw increases, with net interest income rising by 108% and operating income growing by 34%.

Additionally, the cost-to-income ratio improved significantly to 40.1% due to cost discipline measures. The balance sheet remains strong with a loans-to-deposits ratio of 86.63%, indicating comfortable liquidity. The Bank also maintains strong capitalization, with a regulatory capital adequacy ratio exceeding 15% and Tier 1 and CET1 capital ratios around 14%. These positive results underscore the Bank’s underlying strength, operational efficiency, prudent risk management, and ongoing enhancement of shareholder value.

Commenting on the Bank’s results, Sheikh Mohammed bin Saud Al Qasimi, Chairman of Bank of Sharjah, stated: “We are pleased with our outstanding performance in the first half of 2024, which reflects our commitment to adding value to our customers, supporting our communities, and rewarding our shareholders. Despite the challenging geopolitical situation in the region, the UAE economy has remained resilient and continues to register healthy growth following various economic diversification initiatives that provide consistent impetus for trade, investment, and wealth creation. Bank of Sharjah has entered a new chapter with a new leadership team, focused on building new business streams, expanding our reach across the UAE and the region, and delivering exceptional service to our customers.”

He added: “Our performance in the first half of the year demonstrates the effectiveness of our new strategy, and we look forward to delivering continued growth in the years to come.”

The CEO, Mr. Mohamed Khadiri, commented “2024 has begun exceptionally well for Bank of Sharjah, with the bank achieving a record year-on-year profit. I am delighted with our stellar performance as we continue to strengthen the bank’s fundamentals. Our outstanding results reaffirm that our new business strategy is on track to deliver sustainable revenue growth, driven by business expansion, operational efficiency, prudent risk management, and talent development. This achievement is also a testament to the Bank’s success in providing high-quality financial services that meet the aspirations and growing needs of our customers.”

He further added: “Bank of Sharjah is a strong and respected brand within the local community. We are leveraging our core strengths to build a platform that will operate at its full potential across the UAE and the region. The Bank remains focused on executing our strategy and is well-positioned to maintain strong performance throughout 2024 and beyond.”

 

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