Working from home appears to be slipping down the popularity charts among Jersey’s financial services professionals, new figures suggest.
In 2023, 85% of respondents to a poll by local recruitment firm Kendrick Rose said that home working “can be good for both” employers and staff. But in another, carried out earlier this month, that figure had fallen by 15%.
More workers now see it as better for employees only (20%, up from 7%), while almost one in ten say it’s “bad for both”.
Managing Director Shelley Kendrick said the numbers show the honeymoon period with remote working in the wake of covid may now be wearing off.
“…While the vast majority of Financial Services employees we surveyed value working from home and believe it benefits both the individual and the company, it’s becoming less popular as people experience negative aspects over the longer term,” she said.
Gender divides…
The poll revealed big gender divides.
Just 58% of men said working from home benefited both sides, compared to 77% of women. One in five men even branded it bad for both, versus only 4% of women.
Ms Kendrick suggested men may be more concerned about “collaboration, visibility, or leadership dynamics”, while women may find flexibility and balance tip the scales in favour of remote work.
…and generational ones
Generational trends also appear to be playing a part. Ms Kendrick pointed to data from Gallup indicating that less than a quarter of Gen Z workers want to work fully remotely – instead preferring hybrid arrangements that give them office time for socialising, learning and avoiding loneliness.
“Among our clients and candidates we generally see hybrid models, with maybe two days a week remote working, hitting the sweet spot for both employers and employees,” Ms Kendrick added. “Teams stay connected and can be productive, while individuals enjoy the flexibility which in turn helps staff retention.”
But she added that making a success of ‘in-office’ working required work on the part of employers too.
“Thriving in the workplace is not just about location; poor communications and unclear expectations can lead to isolation or burnout and make remote work worse for everyone.
“You need good leadership and trust and understanding on both sides.”