Investing in Resiliency
Adaptability as a Competitive Edge
Throughout 2021, we'll drill down deeper to answer some of the industry's most pressing questions about the future of work in the investment industry:
- How can you navigate your career path in a hybrid work environment?
- How will professional networks change, and who is the most at risk of being left out of the new working model?
- With fewer in-person connections, what new trust models are needed to navigate relationships with clients and colleagues?
- What are the operational and compliance risks associated with hybrid work?
- What new insights have emerged about the core elements of effective organizational cultures in the investment industry?
Redefining What It Means to Be "In the Office"
Where Work Gets Done in a Hybrid Future
Where investment professionals spend their working day would have been a surprising conversation a few years ago because the answer was obvious: You needed to be in the office. While flexibility was a bit more common than outsiders to the industry might have guessed, most leaders explicitly or implicitly believed in “face time” as a measure of commitment and potential.
Following the COVID disruption to work, investment professionals have had to adapt to the new rules of a hybrid environment to manage their career path, personal brand, and professional network – and investment roles proved to be well-suited for flexibility. Now 81% of employees say they want to remain remote — at least part time.
What will work look like going forward given the social disruptions from the pandemic?
Is a Hybrid Model the Future of Work?
Rebecca Fender, CFA, discusses building trust and the relationship between working from home and maintaining a high-performance culture.
Hedging Against Irrelevance
What Work Gets Done as Roles & Rules Evolve
Disruption requires more learning to keep current, and 91% of investment professionals want to expand their skills. They’re intellectually curious, track market dynamics, and follow new developments. But while some professionals had time during the pandemic to upskill, many others realized that longer working hours squeezed out time for training and learning. Burnout has been a challenge, and new entrants to the industry found it more difficult to learn from peers. How will learning and development change going forward?
Meanwhile, those in client-facing roles will need to refine their communication skills to establish new trust models with clients. While video calls have replaced some travel, firms must think strategically about maintaining relationships. Soft skills remain extremely important and companies will need to adapt for compliance and accountability. How will organizations stay relevant and differentiate themselves?
Re-Imagining Organizational Culture
How Work Gets Done in Changing Environments
In the war for talent, organizational culture will be a differentiator. Half of investment professionals surveyed say they would consider work in another industry, so as skills become more transferrable it’s vital for organizations to examine the core elements of their culture.
Investors will be especially interested to see how investment organizations seeking to demonstrate their alignment with ESG principles adapt their workforce policies and consider their employees as key stakeholders. The implementation of new approaches, however, may have pitfalls, especially related to inclusion and equity. Culture cannot be taught and understood through a memo, and finding ways for new hires to learn and thrive even without the proximity of coworkers will be one of the most important leadership challenges going forward.
How can leaders be innovative in a hybrid environment — while protecting the essentials of what defines their organizational culture?
About the Report
The Future of Work in Investment Management research series is based on quantitative and qualitative data collected from more than 9,000 global investment professionals and leaders at investment organizations representing more than 230,000 employees. In addition, the series incorporates qualitative input from virtual roundtables conducted with participants from more than a dozen markets.