Lawyer Monthly Magazine - September 2021 Edition

hybrid context is that the binds that tie individuals to the organisation are by definition loosened in a hybrid working world. So forward- thinking leaders are figuring out how best to better utilise digital tools to foster innovation & collaboration whilst retaining an acceptable degree of oversight over productivity & accountability. Josie: And not just controlling productivity but increasing it by continuing to develop & upskill teams through formal and informal Learning & Development (L & D) activities. How can you best train your people when you’re not in the same room as them? What is truly going to work? Chris: Exactly! One big conundrum across all professional services is how do we train our young talent in a hybrid context. Really interesting. What are the implications of these findings for leaders going forward? Josie: Great question, leaders are beginning to understand that, in moving forward, “one size fits none” and old styles of leadership are unlikely to fit the bill. Hopefully, they will adapt their style of leadership before they are forced to by the workforce voting with their feet. Currently, in investment banking (based on reports in the mainstream media), we’re seeing two types of leadership being played out in real-time. Some banking leaders believe it’s still optimal to “return” to a pre-pandemic business model. They’ve been upfront about requiring teams back in the office after Labor Day unless they are an active health risk. On the other hand, some other firms, notably in Europe, appear to be taking a more flexible & pragmatic approach about who might need to return to the office full-time or part-time and when. Which type of leadership will attract and retain the best talent? Only time will tell. Chris: From our research, developments in the legal profession seem to be playing out differently from banking probably in part because the nature of legal work lends itself more easily to remote working than banking. From what we are seeing, the law firms are currently taking a more pragmatic view as long as productivity remains high and client needs are being met. What have the leaders you have spoken to shared about this? Josie: Well, that’s the beauty of hosting these webinars with senior leaders from a variety of locations and sectors; it invites a myriad of different perspectives and context is key. We are talking predominantly about knowledge workers who account for 1 in 5 workers globally but, for example, make up 60% of the workforce in the US. So, it’s a far bigger consideration today for corporate leaders in the world’s advanced economies than it is elsewhere. Chris: In addition, the trends set by today’s Fortune 500 companies will be studied and in part incorporated into the global way of doing business in the coming years. This undoubtedly has wider ramifications for the planet and how we live and work. It’s a huge obligation and a massive opportunity at the same time for today’s leaders to embrace constructive change. So, it seems like an almost insurmountable challenge to solve with so many considerations? Josie: I think you’re right in so far that this challenge won’t get solved overnight - but let’s be optimistic! Good leaders stay curious, embrace calculated risk and set & articulate clear ‘SMART’ According to a study by Microsoft, a staggering 40% of knowledge workers are considering switching to a new employer in the next 12 months as a result of their pandemic experience and re-evaluating their goals & objectives in terms of work-life balance. Listen up, leaders! 33 SEP 2021 | WWW.LAWYER-MONTHLY.COM LEADERSHIP IN A HYBRID WORKING WORLD