Four years after remote working became a necessity, there is no set formula to achieve success within what has become a hybrid environment.
Accounting and finance professionals, CGMA candidates from across the globe, and academics who participated in the 2023 AICPA & CIMA research report Future of Finance 2.0 Emerging Themes: Workplace Evolution understand that the hybrid office is a combination of working from a remote location, often home, and being sometimes present in their offices.
However, they agreed that a hybrid office doesn’t have a particular look or defined parameters, and implementation of a hybrid working model varies. As there is no one way to develop a successful hybrid office, organisations should feel emboldened to create their own definition of hybrid.
“There are so many grey areas and so many areas that need to be fine-tuned,” said Irena Teneva, DBA, associate technical director, Research & Development–Management Accounting at AICPA & CIMA, together as the Association of International Certified Professional Accountants, and report co-author with Lori Sexton, CPA, CGMA.
“Find some kind of practical solution and test it. Then amend and re-test,” Teneva said.
Built upon interviews and roundtable discussions, the 18-month research project sought to explore the extent of the workplace evolution, the challenges of hybrid offices, and the skills needed to navigate this adjusted landscape.
“You’re not going to find one style that works; you’re finding a style that works in that moment, with that current team, and in that current environment,” said Sexton, associate technical director, Research and Development–Management Accounting at AICPA & CIMA. “It’s going to be everchanging. This is not something to cross off a to-do list.”
Determine staff’s current needs
To find the ideal hybrid environment, leaders need to consider a range of factors and reflect upon several questions: How often should employees work in the office? Is a hybrid environment more productive? How do hybrid teams operate effectively?
A hybrid environment that has suited an organisation for the past two years may no longer be ideal. Reflect on the current needs of staff, the ongoing challenges, and the goals of the organisation to develop a productive hybrid workplace.
“It is about trial and error, but [don’t] just try everything,” Teneva said. “There is a dialogue that should come before you [make a final decision]. It’s about finding the sweet spot with what everyone on the team can do, prefers, and feels comfortable with.”
Leaders can additionally determine what training, technologies, and tools their employees need, what office adjustments can improve the overall culture, how to support staff collaboration, and how leaders can themselves succeed.
Hone leadership skills
When offices were 100% in-person, employees understood daily processes and expectations of working in an office, Sexton said. “You had a team meeting … and everybody was there, you could see everybody, and you all communicated.” Now, she added, “half your team is online, and it’s very different … It’s a different set of skills to get the online folks engaged.”
Having some staff in an office and some online simultaneously changes preferred communication methods — text, email, or in-person conversations — and the required skills needed to lead. Elevated leadership skills are a must, starting with boosted communication skills, Sexton said.
“Leaders need to hone their abilities to read [the] nonverbal cues of their remote employees,” she said.
The report also identified emotional intelligence, resiliency, empathy, and agility as characteristics leaders of hybrid teams should portray.
“This is an ongoing journey, and it will take time,” Teneva said. “In the end, the most important thing is to really preserve, but also improve, the social fabric of the organisation. That’s why it’s important to talk to [staff] and have these safe spaces where people share how they feel.”
The Future of Finance 2.0 Emerging Themes: Workplace Evolution report guides leaders in understanding the breadth of changes occurring within workplaces as they anticipate future shifts.
— Jamie Roessner is a senior content writer at AICPA & CIMA, together as the Association of International Certified Professional Accountants. Wider changes to the finance and accounting profession are explored in further reports from AICPA & CIMA’s Future of Finance 2.0 research project. To comment on this article or to suggest an idea for another article, contact Oliver Rowe at Oliver.Rowe@aicpa-cima.com.