January 20, 2022
The word remote is such a lonely word, bringing up images of an isolated cabin in the woods, hungry wolves prowling about, and potentially a shortage of food and supplies. Today’s remote office/branch office (ROBO) is often the polar opposite of the Hansel and Gretel version. ROBO is usually set up in the employee’s house often located in a separate town, state, or country from the company’s main office.
Last week, 60 Minutes reported in a segment called The Big Quit, that pre-pandemic, 1 in 67 jobs was remote, whereas today, 1 in 7 jobs is remote, an astounding increase.
One of the antonyms for the word remote is cozy. According to the Work From Home Guide by Wrike, a proper Remote Office has 15 cozy ingredients:
- Identify and create your ideal workspace
- Get the right work from home equipment
- Choose the right lighting
- Temperature control
- Pay attention to your health
- Stock up on office supplies
- Keep plants
- Let the music play
- Keep inspiration close by
- Store your professional work documents separately
- Choose colors separately
- Stay well-nourished
- Get dressed
- Keep breaks short and sweet
- Track time
As reported in the Big Quit, workers are burned out, and as a result, are seeking balance, autonomy, control, and flexibility in their homelife/jobs as the new normal, one that is not going away. Hiring signs flourish across the U.S., offering higher pay, better benefits, signing bonuses, moving expenses, paying for education, and remote work. Working from home increases spendable income by decreasing daily expenses like gas and childcare; it also eliminates commuting stress and confining work hours. Customizing a workspace to meet individual physical and emotional needs, contributes to enhanced feelings of wellness. Special needs workers, once restricted in a defined workspace, are finally liberated. Wellness, independence, contentment, inclusivity, and higher productivity are some of the byproducts of a well-managed remote space.
Working remotely lowers overhead for employers which is critical for many during the Covid crisis, and as the quit rate soars and workers seek flexibility, a home office opens the door to a larger talent pool. The Big Quit reported that workers are 2 1/2 times more likely to apply for a remote job. Wrike’s research shows that remote workers are 20-25% more productive than their counterparts due to reduced social distractions and the ability to take breaks whenever; motivation, performance, and creativity soar. Providing workers with the necessary technology, boundaries, expectations, goals, and policies to be successful is a sure way to increase productivity, the backbone of a home office.
Rick Fiorito, COO of RIBBIT, a data analytics company, believes that “We have passed the point that the Pros of a remote workforce – bigger talent pool, office related cost savings, higher morale, lower turnover, increased productivity – significantly outweighs the Cons – reduced oversight, lack of the human face to face element, added investment in IT/data security/communications. Companies like RIBBIT, committed to leveraging the enhanced information/communication technologies and performance management tools developed over the last few years, will be the ones with the most productive and happy work forces in their industries!”
Stay tuned . . .
OXFORD, Ohio, April 12, 2022 /PRNewswire/ — Today, RIBBIT Inc. announced the appointment of Greg Rable to the RIBBIT Board of Directors. As the former Founder/CEO of FactorTrust, since acquired by TransUnion in 2017, Greg brings over 25 years of management and strategy experience, combined with a history of building successful fintech and alternative data businesses for the consumer finance space. In his role, Mr. Rable is helping guide the RIBBIT leadership team and promote the growth of bank behavior data as a powerful and necessary predictive data solution.
Financial inclusion matters not only because it promotes growth, but because it helps ensure prosperity ~ Sri Mulyani Indrawati
How arbitrary are the words ‘financial inclusion’; who’s in, who’s out and why is it so unfair? If a consumer is ‘in,’ there are financial opportunities for building a better life. If a person is ‘out,’ good luck with climbing out of a deep money pit. Today’s financial institutions think they are building a more inclusive process. However, many are still using information reflective of historical bias so if it didn’t work then, it ‘ain’t gonna work now’.
When a man gives you a rose, what you see may not be what he intends~ Patrick Rothfuss
Assessing information is the foundation of most of life’s important decisions. Mistakes are made when the data is unavailable, unclear, inaccurate, insufficient, immaterial, or unjust. How many people have suffered throughout history by poor decision-making? Like it or not, today’s world is data driven, hopefully an information mecca for making insightful, educated, proven and unbiased decisions. However, data is just that, information on a page, it becomes meaningful only when it is wisely analyzed and interpreted.