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.