Moodi will be speaking at Transform on July 2, TNW’s online couch conference on business innovation. Get your tickets here.
In the process of forming the UN after World War II, Winston Churchill said “never let a good crisis go to waste.” Of course, the human cost of a crisis cannot be ignored. At the same time, a crisis can spark progress in a way that people otherwise can’t (or don’t) choose to enact.
In the lockdown that has resulted from COVID-19, space has been created in a very literal sense. Social distancing is generating the ‘six-foot economy’ where people have to keep a physical distance from one another. Such measures mean there is less of a herd effect and people are diverging from the collective whole into separate thinkers. This gradual movement towards singularity is subsequently having a profound effect on how we foster and apply creativity.
Many businesses have been forced to go back to the drawing board and start with a blank state. The empty canvas mentality is facilitating creativity because people are discovering that they can experiment more freely and deeply. Whether starting from scratch or simply choosing to accelerate in the current environment, creativity is flourishing across society.
Changing tides around the world
According to Szabolcs Keri from the National Institute of Psychiatry and Addictions, “creativity is related to the connectivity of large-scale brain networks […] How brain areas talk to each other is critical when it comes to originality, fluency and flexibility.” Creativity isn’t something we’re born with — it’s a science nurtured by the right conditions, and sometimes, the conditions you least expect.
During COVID-19, the slowing down of processes and bureaucracy has eliminated time-consuming tasks and the noise of accepted (yet inefficient) protocols. There is now room for existing political, social, and economic agendas to be meaningfully disrupted, and for people to openly innovate.
Already, governments are seizing the opportunity. In Amsterdam, Dutch officials are planning to apply a ‘doughnut model’ to revive the economy once COVID-19 subsides. Beyond economics, the model aims to better meet the needs of people and the planet, and to actively be more sustainable. Had the pandemic not occurred, such a decision may have taken decades to action.
Meanwhile, religion is also changing. With religious centers being forced to close during the lockdown, masses and sessions of worship are being broadcasted live online. For example the Central Synagogue — home to one of the largest Jewish congregations in North America — streamed Easter Mass and has weekly Shabbat services, plus on-demand options for past services.
Formula 1 has taken advantage of the online shift too. Professional drivers like Max Verstappen have been drawing crowds on YouTube and Twitch by taking part in esports competitions. In light of the Australian Grand Prix and races around the world being cancelled because of lockdown, the virtual races have been a welcome alternative for F1 fans.
Even the justice system has been creatively reworked. The COVID-19 shutdown forced Supreme Courts around the world to close, leaving decisions about ongoing cases unclear. In response, video conferencing is being used to stream the proceedings with all participants via official court websites, and judgements are delivered live, in real time.
The UK, China, Brazil, and Singapore have all adopted this new digital framework – which took only a fortnight to fully implement. In England and Wales, more than 80% of the countries’ caseloads have now been handled remotely.
The power of one
On a more micro level, working from home eliminates the day-to-day distractions of the office, the influence of others, and the expectation of certain routines. People have more physical space and are finding that their mental and emotional thinking isn’t polluted by office distractions. In fact, my clients tell me on a daily basis that they feel more productive and creative.
The trend isn’t coincidental either. Research from the University of Buffalo shows that social withdrawal is positively linked to creativity. Just two hours of silence a day prompts cell development in the hippocampus — the region of the brain related to the formation of memory. Such development is crucial considering that creativity is the art of deriving from the old to make the new.
Being alone gives people the autonomy to explore ideas, pathways, and value. From a business perspective, it also provides the space to listen and rethink customer needs and market changes in a particularly powerful way. Time alone facilitates the broadest possible kind of thinking, where people can truly diverge from their previous norms and begin discovering.
If you can cast your mind back to the days of office life, how often was your schedule filled with requests for group brainstorming and peer activities? In contrast though, Leigh Thompson, expert in creative thinking, asserts that group ideas only come in the first half of brainstorming sessions, and after that, creativity is stunted. To assume that putting heads together is the only path to innovation is to misunderstand what fuels creativity in the first place.
Keeping momentum for the future
Studies from McKinsey demonstrate how consumers are hesitant to return to some of the in-person activities that were part of their daily lives before the pandemic. In the shifting dynamics of creativity, the world has to consider how to maintain the momentum it has garnered along the way. The sense of urgency that is currently driving the new wave of creativity could easily go to waste if we do not incorporate into the ‘new normal.’
For example, data around the environmental impact of society and businesses shutting down present options to dramatically slow climate change. There is huge potential for innovative measures to maintain the decline in carbon emissions that is currently happening — but we have to cultivate the creativity we’ve recently tapped into.
Likewise, COVID-19 has shown that there is a clear need for an early warning system in place for future crises. The World Health Organization is already proposing the comprehensive model EPI-BRAIN, a platform that uses big data and AI to predict outbreaks and mitigate the spread. However, building worldwide trust in such a model will certainly require creative marketing.
Separate to governments and people, brands have to consider how to move forward with the permanent change in consumer priorities. Companies need to find ways to realize the ‘power of one’ when people do eventually return to offices and teamwork is restored.
No doubt, the challenging nature of the market downturn will teach businesses how to be more diligent and how to carry that mentality with them moving forward. At the same time, humility, authenticity, and honesty matter more than ever.
“Without great solitude, no serious work is possible”
New thoughts, hypotheses, and narratives are not only defining how we experience COVID-19 but how we grow from it. Creativity is integral to that growth, and like every skill, creativity requires practice — and COVID-19 has curated the headspace for people to practice regularly without disruption.
Just as remote work and virtual events are poised to be part of the ‘new normal’, questions such as ‘how might we?’, ‘why should we?’, and ‘what would happen if we?’ will be integral in a post-pandemic world. If society can utilize the new fertile ground, embrace the power of one, and commit to maintaining momentum, real change is not merely possible, but probable.
As Pablo Picasso once said: “without great solitude, no serious work is possible.” The world then, picks up a brush and gets ready to paint a creative masterpiece.
Published June 29, 2020 — 08:58 UTC
Securing €3M investment and thriving during a pandemic — here’s how we did it
Like many other companies, with the onset of the pandemic, Growth Tribe faced the sudden challenge to either innovate or become irrelevant. This is the story about how we not only survived, but were able to develop a new business model and secure €3 million in funding.
I hope that, by sharing our learnings, we can help other companies facing a similar situation to weather the storm and come out stronger.
Around February 2020 we saw our revenue going down. People started to postpone their courses because they weren’t sure if they’d be allowed to fly anymore or be in a classroom together. It was clear pretty early on that social distancing was going to be a big problem for us because 95% of our learning journeys were based on in-person training.
On top of that, we had been in the process of closing a significant funding round. The final checks were being made when rumblings of COVID-19 potentially coming to Europe started coming in.
About 80% of funding rounds were being canceled at the time and we thought to ourselves, “Are we going to be in that 80% or 20%?”
At the same time a key senior employee decided to leave the company.
That was really when I felt we had hit our low point.
Every day we had new curveballs coming at us. “What if we don’t get the investment? Can we keep growing? What kind of government support will there be? Do we even get government support? What’s going to happen to everyone at Growth Tribe?”
In hard times, I firmly believe you need to make sure your team stays together. There are two books by Nassim Nicholas Taleb which I find really describe what we’re living through now:
The Black Swan: The Impact of the Highly Improbable which says that if you can’t predict the future, the crisis will always come from an unexpected event. And the second book is Antifragile: Things that Gain from Disorder about how only companies that are adaptable to rapid change will survive and thrive in uncertainty.
And that’s what we did.
Crisis management time
During a crisis, one of the first steps companies take is to make cuts, but startups rarely cut their way to success. They need to grow, especially early stage startups.
So we decided to take a more opportunistic-optimistic view of the situation and start experimenting with product iterations to identify and double down on big bets.
We got our directors team of six to seven people together and built a war room to tackle the question: how can we embrace this next crisis as an opportunity rather than a threat? We came up with a list of 25 ideas and ranked them based on:
- The likeliness of it working
- Ease of execution
- How big of an impact it would have
Luckily we had already begun creating a digital hybrid of our classes before the crisis to give us more flexibility. Having all our trainers centralized in Amsterdam meant they were flying abroad to different locations for trainings. But this limited us and wasn’t sustainable from an environmental perspective.
When some of our classes across Asia started being canceled, we decided to accelerate our transition. What was supposed to happen over 12 months happened in 12 days.
I find it interesting that most corporations are killing innovation and training budgets at the moment, because that’s actually what they need most right now. If you look at some of the articles coming from publications like McKinsey and HBR, they’re all saying now is the time to experiment as fast as possible and spend more money on innovation projects.
Getting clients onboard
To make this work, we would have to show our audience something different. We would have to make it really hands on, practical, and interactive.
We quickly began experimenting both online and offline. Here I really saw the power, speed, and brainpower of everyone at Growth Tribe. The team’s reaction was impressive. We ran online smoke tests and high hurdle tests for our bootcamp courses.
For the corporate side, we had discussions with every single one of our corporate clients until we had some sort of letter of intent or quote saying there was buy-in from them to move their learning experiences online. The company became an experiment laboratory.
That took a lot of work. We’re talking: creating marketing collateral, building videos to show what the learning experience would look like, building up the online learning experience, etc. But this gave us the evidence we needed to go forward with this strategy, whether we got the investment or not.
We started creating studios and, in two weeks, we flipped the whole company. So when social distancing measures were announced in Europe, we had all our courses online already.
Since the pandemic started, we’ve trained over 500 students.
Getting investors onboard
When we came back to the investors we were prepared.
We showed them external reports, data, and graphs. But we were also able to reassure them by showing hard proof of what we had achieved in those two weeks. We had already gotten traction by selling online courses and producing letters of intent. We had already made sure that operations, HR, and our marketing materials were all aligned.
We also showed them pictures of our new creative studio. And, most importantly, we showed student feedback proving we’d been able to create the same amazing learning experience.
Ultimately, what we were able to show them was that this was actually a great opportunity and we were prepared to seize it by pivoting and adapting rapidly.
3 tips for surviving and thriving in an uncertain future
It’s really difficult to predict what will come in the future. Will the spike go up again? Will new social distancing measures be put in place? You don’t know what will happen with the economy yet, so making big plans for the future is difficult.
The first thing I’d suggest is to stay close to your customers. Before the government lockdown, a lot of companies already started imposing travel bans, which is what first alerted us. In a crisis, even if you’re not selling to them, just talk to your customers about what’s going to happen and how things are moving.
Second, experiment as fast as possible and trust your teams. We’re constantly experimenting with new products, new delivery channels, and new markets. We’re living in a new reality and when you don’t know what’s coming, the best thing to do is test, try and learn.
So make sure your team has the tools and knowledge they need to run effective experiments. And trust them. The team was 95% of the reason for our rapid pivot.
Third, spend more time re-skilling your people because the market is going to be different and it’s going to change way faster now. The rise and fall of new technology and changing market conditions will also cause a rapid change in the skills that will be needed.
Digital transformation is not about technology, it’s about talent. Prepare your company for what could come by preparing your team with the knowledge they need.
Published July 10, 2020 — 08:00 UTC
How today’s best business software goes viral
Capiche is a secret society for SaaS power users, building a new community of people who care about software to make the SaaS industry more transparent, together. This piece was written by Matthew Guay, Capiche‘s founding editor and former senior writer at Zapier.
When Jiro dreams of sushi, you’d hardly imagine him slicing sashimi with an ordinary, dull knife. Nor would you expect Usain Bolt to cross the finish line in shoes you could pick up at an outlet, the London Symphony Orchestra to grab the cheapest violins at the local music store, or Ford to take on Ferrari and win the Le Mans with any random car.
Experts use expert tools. Rigorously tested, finely tuned, carefully built to perform at the highest levels. They’re crafted, built for the most demanding audiences.
Then those best features trickle down, until yesterday’s best is today’s ordinary. In humanity’s pursuit of the best, we build better things, then mass-market them to fund the next best thing.
Along the way, the best, ideal versions of those tools become icons, symbols of victory. You might not need the absolute best shoe, the fastest car, the sharpest knife for your work. But wouldn’t you like the perfection they represent to rub off on your work? And so the best tools become status symbols. The watch that ticked on the moon makes you think you, too, could shoot for the moon, that you’re someone who needs the most exacting tools.
Now it’s happened to software.
Software was the great equalizer. “All the Cokes are the same and all the Cokes are good,” said Andy Warhol, and the same went for software. Gmail works the same on a $200 Chromebook or $2000 MacBook. Excel can track a $1,000 budget or a $100 million portfolio equally well.
But what if software could be better, crafted specifically for the professionals who need it most? How much would the people who email the most benefit from an email app that made them 10% faster? What would investors pay for a chat app specifically for finance? How many researchers would rebuild their libraries in a better notes app?
Thus positional software, an emerging category of software built for expert users with a focus on design and collaboration, adopted bottom-up in organizations, and often priced at a premium compared to existing category leaders. Similar to positional goods, highly valued items that showcase status, positional software are tools people aspire to use, either as experts in their industry or to position themselves as such.
The editor wars
The first best software was built by programmers, for programmers.
One team at MIT wanted a better text editor, and built Emacs. Another at Berkley wanted the same thing, and built Vi. The former was so customizable, it could be anything: An IDE, an email app, even your psychiatrist. The latter was so simple, it looked like nothing at first, with arcane commands required just to edit text.
Yet there was magic in both approaches. Each text editor was powerful enough to give developers superpowers, customizable enough to keep them from reinventing the wheel again, opinionated enough to build a following.
To this day, preferring Vim or Emacs labels you, puts you in a certain class of developers who are picky about their tools, willing to invest time in learning obscure features, and far less willing to consider switching to other tools.
They’re positional software.
The best software for each job
As software ate the world, developers weren’t the only ones demanding the best in software. When everyone’s work is done through software, everyone could use better tools to work at peak performance.
There have always been better tools, software that hit a higher bar. Niche software, things others in the same role and industry might know and tell each other about, but that would be hidden from the wider public. In the grand tradition of Vim and Emacs, they were often cryptic tools with steep learning curves, tools that made sense to invest time to learn if you used them all day, but that wasn’t worth the effort otherwise. Only those who truly need them would aspire to use them.
Then something switched. The best software became the most popular, aspirational tools that people built their identity around and wanted to use. What cooking shows and documentaries did for knives and premium ingredients happened to software.
Today’s Positional Software required a few ingredients of their own to happen:
Used in public
Email software was perhaps the first mass-market tool where you could earn credibility based on the software you used.
Hotmail got the idea right first. Offer free email when few others did, and add a signature to the bottom of every email that suggested you, too, could get free email. That made it one of the first viral software, a trick both the iPhone and Superhuman copied with an email signature that told recipients what sent your message.
Public use is what made software convey mass-market status. You neither gained nor lost credibility by, say, checking email on Outlook Express or Emails or Apple Mail; few knew the difference. Your email address’ domain, on the other hand, announced your software choice to the world, drew a line in the sand, gave you a digital identity.
Positional software uses Hotmail’s trick, letting the world know you use something different, something better. Superhuman indicates it with an email signature; Hey forces you to get a new email address to make sure no one misses it. Figma’s share links, Notion’s public pages, Typeform’s embeds, and Slack’s invites do the same—everyone you work with sees the software you use, and has to use it, too, if they want to collaborate. The Bloomberg terminal was an early example: If you wanted to chat with other traders, you needed Bloomberg. Even less visible software—modern equivalents of Vim and Emacs—can be used in public if you let the world know on social media, something most common with the most opinionated software.
The halo can wear off. You switched to Hotmail to save money, not specifically for a better tool, so with time a Hotmail, Yahoo, Aol, or Juno email address signified you were behind the curve. A Hey email address, today, might say you’re ahead. It’s a delicate balance, one exclusivity helps extend into a moat.
Free email is enticing. Free email only few can get, even more.
Gmail’s launch on April Fools’ Day, 2004, with a better web app and far more storage—leaps over the two things that set Hotmail apart in the first place. Gmail added something to the equation that made it even more desirable: Invitations. Only a thousand people could get in at first, and those could each invite a few friends. That let Google scale the service up over time, and gave a free Gmail account the cachet of an expensive luxury good, enough that people sold Gmail invites on eBay for over $150.
Invite-only bought Google time to perfect Gmail, a trick Google extended by keeping Gmail in beta for the first 5 years it was available. But the real success was in the viral word-of-mouth as everyone wanted an invite to use Google’s latest software.
Exclusivity speeds up the process of waiting for influential users to promote the product. Imagine Gmail without an invite system; some might mention using it, far more would use it without talking about it. The invite system made it exciting when you get to start using Gmail, making you more likely to talk about it—and for your colleagues and friends to ask you for an invite.
Add social media to the mix, and exclusive, invite-only software can quickly make a new product seem far more desirable. You just need to get people influential in the niche your software targets to use the software in public, sharing what they like about it, and the invite requests will start to come in.
Invite-only on its own isn’t enough; the initial buzz around Google’s later launch of Google Wave didn’t keep that product afloat. But it does add allure to software. Today, invite-only is a key launch strategy for everything from Superhuman (still invite-only) to Clubhouse (with an even more locked down invite system), Hey (invite-only for the first couple weeks) to Linear (invite-only while in beta).
Invite-only starts the sharing process. The real work-in-public, though, comes from collaborative software.
Built for you, then your team
The best software in the world doesn’t help if you can’t use it.
When IT teams mandated what software you could use, there was no reason to seek out better tools. Better to invest in getting the most out of the software they authorized.
Then two major things changed. Companies started switching to bring-your-own-device policies, giving you more freedom over the computer and thus software you use, making bring-your-own-software possible. Then, web apps freed software from IT constraints, making new software only a new tab away.
You didn’t have to use older desktop software. You could use the new best-in-breed software in your browser.
These web apps weren’t just utilities you’d use on your own. Increasingly, modern software was built to work together with a team. Perhaps you’d try Slack during a hackathon or with a group of people from your industry. You’d enjoy it, think your team would like it too, and so would go to slack.com and make a new team, and invite your colleagues. The exclusivity appeal would take over again, as others in your company would want into the cool new app, and before you knew it, Slack had swept through your company.
Google Docs didn’t need everyone to switch. It just needed influential writers in your team to start using it for collaborative edits, then to share the document links, and it’d grow from there. Airtable did the same to databases, Figma to design tools, Notion to notes. They were enough better to make the most choosy users switch, got them to work in public, and that sparked bottom-up adoption throughout the company.
But first, the product needed to be enough better to get that first tranche of users to switch.
“Here’s to the crazy ones,” said the classic Apple ad. “They see things differently.” That is the defining feature of positional software. They force you to work differently.
Gmail removed folders from email, prioritized an Archive button over delete, forced you to use tags if you wanted to file messages. Typeform showed only one form question at a time. Superhuman hid most buttons, opting to prioritize keyboard shortcuts and the command palette. Figma abstracted away files, blurred the lines between mockups, demos, drafts, and finished work. Hey took away archiving, said inbox zero isn’t important, said 3 folders is enough.
Few are passionate about the differences between PDF editors or domain registrars, say—they either do the job, or they don’t.
Code editors, however, are worth fighting for. Vim and Emacs’ opinionated differences are what make them polarizing. The same goes for modern positional software. They take a stand, say there is a better way of working. That makes them polarizing, which makes them worth talking about, which helps them spread further. It lets them charge a premium for a product built with care.
It’s a virtuous cycle that helps positional software spread to everyone in its niche. They don’t need everyone to use their software, but they do need everyone who cares about the same things they do to use it. You can’t get there by being a jack of all trades. Opinionated features let software be a master of one.
Premium by design
Design, then, ties it those features together.
“Design is how it works,” said Steve Jobs, but better features alone were hardly enough for Apple’s co-founder. The company that taught us what chamfered edges and complications are cares deeply about how their products look and feel. So, too, do positional software.
Vim and Emacs may fall into the design is how it works category, with devotees favoring their raw simplicity. But they’re not turning heads when used in public, not making people wish they had an invite to see what the fuss is about.
Slack was an early leader in the crafted software space. Built from a company that two times had built a game and each time ended up building another product instead, the Slack team surely had great designers in their midst. But they also enlisted an outside design firm to launch the most polished team chat app the world had seen. Team chat wasn’t new; fun team chat was, and design was a key differentiator for Slack, enough that they could charge nearly three times as much per user than their closest competitor.
Positional software pairs a deep focus on features for the most exacting users with an equal focus on the design that will appeal to and work best for them. The chef’s knife needs a carefully curved handle and sharper blade to be worth buying—but it also needs to look the part, especially if it’s to cross the chasm from tool to desirable luxury.
Much of the discussion about Superhuman centers on its price, assuming a $30/month email app is a luxury, a Veblen good. Yet even if the status conveyed an exclusive Superhuman invite is worth the first month’s subscription, that alone is hardly enough reason to continue using the software. Subscriptions if anything align developer and users’ interests, as the latter can choose to leave anytime. Superhuman survives solely on how well it helps those who use email the most. If it makes them better at email, they’ll continue to pay, and talk about it.
Democratizing power features
IRC had been around for decades as an early team chat. Slack added design and opinionated tweaks and turned it into a chat app worth paying more for.
Gmail was built around keyboard shortcuts since its inception. Superhuman taught them to you with personalized onboarding and tooltips, making sure you’d learn them.
Vim and Emacs had features tucked away to make you a more efficient text editor if you took the time to learn them. Sublime Text put those features in a command palette where they were easy to discover.
You could always email design files around, track document changes in Word, update an intranet by hand. Figma, Google Docs, and Notion turned those tedious tasks into a single click, freeing you up for your real work.
Positional software makes its name with unique features and better design. But often it’s not entirely reinventing the wheel. Instead, it’s thoughtfully simplifying what previously were power-user features, making you work faster in ways that were only possible in older software if you took hours to study and memorize. Thus the common complaint that positional software is nothing new, that Slack’s just IRC and Superhuman’s only Gmail with a newer design. The detractors have a point—the features often are there in older products if you dig.
Positional software makes everyone a power-user.
Customizable, within limits
Software can’t gain a patina from wear-and-tear, doesn’t show your hard-earned battle scars of day-in-day-out usage the same way a long-loved tool can.
And opinionated software can never be as customizable as their developer-orientated, open-source, handcrafted counterparts. That’d take away the original insights and designs that make them great.
But you can’t have power user tools without some free-for-all, some area to experiment and make yourself at home. If anything, customization keeps the work-in-public going, as power users want to show what they’ve built from tools others might have originally dismissed.
And thus, positional software typically lets you customize something. Maybe just themes and add-ons, with an ecosystem of third-party developers turning the software into a platform. Maybe with emoji and stickers, consumer-style flair that makes you feel at home. Maybe with custom workflows that force you to think through how you work, make you invest in making the tool your own.
That keeps the virtuous cycle going, where the custom tweaks make it a tool you couldn’t imagine living without, which makes you talk about it in public, which makes others want in, which helps the vendors find someone else in your niche and increases their pricing power as that customer wants their software alone, not any random tool.
And that’s positional software.
A new world of premium software
Software started out enigmatic, mysterious, difficult to understand, gate-kept by obscure terminology and hidden features.
Then it went mass market, where everyone used the same tools, where Microsoft Office was standard and seldom was indie software considered.
And then, as software became the primary tool for everyone’s jobs, not just developers, the same principles that helped developer tools become great were brought to prosumer business software. More esoteric software appeared, tools used by only those with the most demanding needs, with details you’d have to be an insider to appreciate. Mass-market software could serve the bulk of the market; these new software focused on those who need them most.
The best tools signify the value a craftsperson places on time and efficiency. They’re emblematic of the role that craftsperson holds, signify their status and skill. And they’re honed over time to be best for that role.
Today’s positional software does the same. It’s best tools, designed for specific roles, carefully designed to make craftspeople better at their digital work. It’s software that positions you as an expert. It’s priced at a premium, and worth paying for—by those who need their features, and by those who want the status those features convey. They’re spread as digital artisans work in public, share their work, talk about their tools.
And that halo effect can, over time, make positional software the new leader in its field. It still may not overtake the market leader in sales. But it will absolutely influence its entire industry as it occupies the mindshare of the most influential segment of that industry’s professionals.
Published July 10, 2020 — 06:30 UTC
Work perks are changing — and that’s a good thing
Catered lunches. Gym memberships. Meditation rooms. Work from home Fridays.
These are a few of the perks tech companies commonly dangle in front of current and prospective employees. In a COVID-19 world, however, budgets are being cut, people are being laid off and these shiny office perks are no longer within reach.
Shelter-in-place orders have accelerated the adoption of remote work by years but it also leveled the playing field to eliminate the work perks that are costly and unimpactful.
So instead, here are some steps I feel companies‘ leadership should take to ensure their employees are taken care of in an impactful way.
Evaluate current perks, go back to the basics and build from there
Companies like Twitter and Shopify have already provided a stipend or have reimbursed employees for home office equipment, which as career coach Julie Kratz described to CNBC, doing so helps build loyalty among employees.
As a CEO, I believe this as well so at TravelBank we implemented a work from home expense policy where all employees are allowed to expense up to $150 each month. The allowance can be used for home office setups, or for those that already have one they can expense groceries, meal deliveries, their internet bill, or other expenses described within the policy.
In the first month of this new policy, employees have used 100% of their funds which has contributed to employee happiness and further enabled a level of transparency and appreciation within the company.
Furthermore, costly perks that are nice-to-haves but aren’t being maximized should be reevaluated. For example, gym memberships to physical locations. This is the perfect time to scale back and offer access to digital fitness apps.
The Peloton app is very popular among our employees and there are other alternatives Fitbod, which uses a training algorithm to build a personalized workout plan, or Aaptiv, which provides unlimited access to thousands of workouts, that can be used on a trial basis.
By using this time to test out more affordable alternatives companies can get a better view into their spend and analyze the use of perks like these and their impact on culture.
Perks have always been a way to invest in employee retention and happiness. Hundreds of thousands of dollars are typically spent on such efforts but it doesn’t always work out. With budgets being tight and hiring at a freeze at most companies, this is also the perfect time for HR and culture leaders to survey employees about what’s missing and how the company can improve.
Work-life balance is going to become even more important — listen to your team
Fortune 500 companies like Google and Facebook have already expressed that they’re expecting to work from home the rest of the year and per a recent IBM survey more than 75%, of the 25,000 US participants, indicate they would “like to continue to work remotely at least occasionally, while more than half would like this to be their primary way of working.”
A significant portion of small-to-mid-sized businesses won’t be able to transform into a completely remote operation but there will be a more truthful and open discussion about what work-life balance can look like moving forward. Some companies, for example, might adopt WFH Mondays and Fridays while others test out core work hours, like 9am to 3pm to give employees the flexibility they’re looking for.
At TravelBank we’ve already taken a step forward by eliminating our physical office space and allowing our employees to take home their desks and monitors.
Another way companies can invest in work-life balance for their employees is by offering digital mental health resources. Employees are not exempt from burning out, even if they are working from home. Offering meditation apps like Calm as a perk shows your team that you care. A small gesture, like sending a plant, also goes a long way.
According to our own data, startups are using services like Urbanstems to send their employees succulents, which are popular in office spaces and can positively contribute to an employee’s working environment — from simply brightening up their at home offices and improving their focus to enhancing memory.
More changes are on the horizon
Companies are not rushing back to setup offices anytime soon; physical office spaces, company culture and on-site benefits are going to look drastically different. Right now, the future of work is being completely reenvisioned. Companies relied on office perks to attract and keep employees happy and productive. Now, with a permanent shift to working from home, employees are going to be looking at companies that provide that level of flexibility.
According to the previously noted IBM study, more than 40% feel that their employer should provide opt-in remote work options when returning to normal operations, and it’s very likely that a significant number of more companies will jump on board. With these new shifts, expect a boom in more remote indie work tools and others that focus on the employee life at home.
Published July 9, 2020 — 08:00 UTC
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