COVID-19 Implications for Business & Financial Wellness

The Conference Board just released its August 2020 survey of global CEOs on the long term impact of COVID-19 on the work force.  Their summary:

  • “CEOs globally are seeing an increase in remote workers and rethinking how to design and deploy flexible work arrangements that can better serve employees’ evolving work life needs. When it comes to talent, CEOs around the globe  consider adopting new work policies to include more flexible work hours and increasing the number of employees who can work remotely/telecommute on a permanent basis as the top two long-term impacts of the pandemic.”

What also caught my attention was what ranked 3rd highest on their list:

  • “Create agile project teams to redefine how work gets done.”

I couldn’t agree more.  As many of you know, that’s been my passion for many years and something we have adopted at OTA more than ever before:  The New School of Agile with Mike Richardson.

Plus, while not explicitly called out in this COVID-19 impact survey, The Conference Board also provides thought leadership and research into Financial Wellness:  Financial Wellness Part 1:  Employer Program Considerations:

  • “Financial problems are a major source of anxiety for many Americans. Employers are recognizing that anxiety about finances is leading to distraction and loss of productivity”
  • “Employers seeking to provide benefits that effectively deal with employee needs are increasingly embracing the concept of “Financial Wellness.”
  • “Financial wellness takes a broad view of all factors impacting financial success. It includes primary emphasis on debt management and achieving multiple goals in tandem, and balances doing with planning.”

Indeed, financial wellness has been at the heart of our passionate purpose for many years.  Read more:  Financial Wellness Before, During and After Covid