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Post-COVID Workplace Compliance Challenges

Post-COVID Workplace Compliance Challenges

As the pandemic's restrictions begin to dissipate, which they will almost certainly do by the third quarter of 2021, it's reasonable to expect that many organizations' business models have been disrupted to the point where they will never be the same again.

Smaller companies may be more likely to return to a full-time office working model, but employee expectations have altered dramatically. Some employees will want to go back, while others would not feel secure doing so despite high vaccination levels.

Also, many people will have appreciated the time spent at home with their families and not having to worry about expensive and stressful travel.

How can you persuade employees who have gotten used to a WFH routine and perhaps enjoy a better work-life balance than ever before that it's time - safe, even - to return to the workplace? What if they don't want to pay for season tickets, spend their time commuting on crowded trains, or no longer see what the office adds on top of what they get done at home?

At last, we can show you how: compliance training. It will be a tricky task to convince people that there's nothing to fear from returning to the office - but we're up for it. Before an employee considers leaving the safety of their WFH post, we'll teach them all about how the workplace has changed...

After the epidemic, many technological firms will go fully remote, but financial services may well have a more varied result.

However, the most likely scenario is that a majority of the employees will be utilizing a hybrid working style – just some of the time in the workplace.

What does this signify for employee compliance? The most significant shift is that businesses will need to revisit their compliance risks, but now on a longer-term basis. The greatest issue in these situations is the management of conduct risk.

There are several and varied challenges, ranging from the management of front office personnel in investment management firms to ensuring that records are properly handled and disposed of, trades are done on time, and client access via phone is maintained when necessary.

Security experts expect that remote monitoring will become an increasingly important aspect of risk management. This involves managing compliance risks, preventing market manipulation and poor sales practices, and giving incorrect advice.

Compliance considerations

  • Measuring productivity - How can you assess productivity when people work remotely? What changes are required in terms of performance evaluations when individuals operate from home?
  • When people return to the workplace, how will you ensure a safe and COVID-19 secure environment?
  • In practice, what is a hybrid working environment and the extra precautions required to keep those who work remotely after lockdown.
  • Making a recruiting roadmap for individuals who were hired during the lockdown and missed out on traditional inductions, but have a lot of catching up to do.
  • Promoting greater wellbeing, assisting individuals reconnect and rebuild rapport after the lengthy absence, including reintegration of those continuing to work remotely and a delayed welcome for newcomers.
  • Adjusting for those affected by COVID-19, such as extra breakout areas, rest facilities for people with long-COVID, shorter working days, and so on.
  • Revisiting compensation schemes. Will you offer people the option to work in both places or just one? What are the challenges of working remotely after lockdown, and how can you overcome them? Let's be clear: it's not like everything remains the same.
  • The workplace will change. Flexible working is still a serious threat to traditional office settings, but the need for stability is much more important than it was pre-Covid.
  • If you want to keep people in the workplace after lockdown, you're going to have to provide them with an environment they can rely on. This will mean investing in high-quality office space and equipment that helps people work at their best.
  • Introducing or updating bereavement guidelines or procedures for individuals still coping with loss.



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