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"Firm Culture in a Global Pandemic: 6 CMOs share their views"
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"The Covid 19 Economy" by Diane Swonk, Chief Economist, Grant Thornton. Diane breaks down - in layman's terms - ramifications for our futures. A fascinating listen in an easy-to-absorb style.
"A Bit of Optimism" by Simon Sinek, a visionary and optimist on leadership, culture and bright futures ahead. Simon's style is entirely relatable, mixed with a healthy dose of provocative thought to inspire us each day. | ||
Productivity:
The productivity of most marketing teams has not declined, despite having gone virtual. This is a landslide success for those marketers who have been asking for more flexibility (or some remote hours or days) for some time. Now, the often-common counter argument that productivity will suffer if more flexibility is given has been dis-proven, almost overnight.
Individual working hours:
Most of us are currently working harder than we ever have. Recent KHS People survey results show that 57% of you are working at least 5 additional hours each week, and some more than 15 additional hours each week. (Perhaps this is why productivity is not suffering!). But, in all seriousness, these current rates are serious: they are unsustainable. Our September survey asked for additional input on working hours and possible burn out. So, more analysis and thoughts on this to follow...
Firms ARE changing:
For years, many professional services firms (particularly law firms) have been criticized for being slow to change. Almost overnight, firms have switched to an entirely virtual model. This is not something any of us probably thought possible. This has to be a silver lining from the impact of Covid. Our firms can change; when forced to do so, they stepped up, and in a big way.
Leaders should plan ahead for 2021:
Many CMOs are thinking about 2021 (and quietly hoping for 2020 to finish up as soon as possible!). From a retention perspective, they should factor in how to respond to the current working hours and also 'making good' on any salary / bonus freezes, including promotion freezes. Covid will pass, and some good team members might go with it if their pre-Covid situation is not restored in 2021.
Marketers shouldn't expect a career change in 2020:
Despite Covid, careers do go on. Marketers - like anyone - still seek progression within their firms and still expect the typical career trajectory. Seems completely reasonable, but for the Covid-effect. My advice to many marketers recently who are seeking a career change is not to expect one in 2020. With salary freezes and promotion freezes - and hiring freezes - (specific analysis to come on these at the conclusion of the current survey), it is not the year to seek progression. Hold steady in your role for now if you can.
The productivity of most marketing teams has not declined, despite having gone virtual. This is a landslide success for those marketers who have been asking for more flexibility (or some remote hours or days) for some time. Now, the often-common counter argument that productivity will suffer if more flexibility is given has been dis-proven, almost overnight.
Individual working hours:
Most of us are currently working harder than we ever have. Recent KHS People survey results show that 57% of you are working at least 5 additional hours each week, and some more than 15 additional hours each week. (Perhaps this is why productivity is not suffering!). But, in all seriousness, these current rates are serious: they are unsustainable. Our September survey asked for additional input on working hours and possible burn out. So, more analysis and thoughts on this to follow...
Firms ARE changing:
For years, many professional services firms (particularly law firms) have been criticized for being slow to change. Almost overnight, firms have switched to an entirely virtual model. This is not something any of us probably thought possible. This has to be a silver lining from the impact of Covid. Our firms can change; when forced to do so, they stepped up, and in a big way.
Leaders should plan ahead for 2021:
Many CMOs are thinking about 2021 (and quietly hoping for 2020 to finish up as soon as possible!). From a retention perspective, they should factor in how to respond to the current working hours and also 'making good' on any salary / bonus freezes, including promotion freezes. Covid will pass, and some good team members might go with it if their pre-Covid situation is not restored in 2021.
Marketers shouldn't expect a career change in 2020:
Despite Covid, careers do go on. Marketers - like anyone - still seek progression within their firms and still expect the typical career trajectory. Seems completely reasonable, but for the Covid-effect. My advice to many marketers recently who are seeking a career change is not to expect one in 2020. With salary freezes and promotion freezes - and hiring freezes - (specific analysis to come on these at the conclusion of the current survey), it is not the year to seek progression. Hold steady in your role for now if you can.