Issue link: https://maltatoday.uberflip.com/i/1293556
8 OPINION W ith most office staff in the financial ser- vices and banking sector working from home, now for the seventh month running, one cannot but reflect how our lives have changed dramatically. We cannot ignore news about the penurious spread of coronavirus. is news of a spreading pandemic fills the media waves making our sub- conscious feeling depressed and bereft of inspirations. On the international scene, we note how large operators like Facebook announced that it would allow as many as half of its nearly 50,000 employees to work from home permanently, following some smaller tech firms such as Twitter. Experts tell us that the crucial challenge of remote working depends solely on the ability of manag- ers to maximise productivity from remote workers. Certainly traditional con- trol processes may not apply. Management practices must change for an organisation to get full value from telecom- muting staff. is means that with all good intentions and best endeavours, companies believe that the teleworking performance will never match that which occurred when of- fice routine was the norm. Ef- ficiency and productivity suffer in the long run. In fact the Economist Intel- ligence Unit (EIU) forecasts that the global economy will expand by a mere 2.4% in 2020. It notes that rich economies are expected to grow at rough- ly the same uninspiring pace as they did in 2019. A continua- tion of the global slowdown in manufacturing will also drag down growth worldwide. For many in Malta, the pan- demic created hardships and staff are counting the days un- til they can return to the office. Others, however, are finding their groove - and have dis- covered they really are more productive and happier when working from home. e secret to successfully working from home is to treat your "working time" as sacred. It will be important to show your employer that they're get- ting the full value of your time. One of the most frequent- ly cited challenges reported by seasoned remote workers is the worry of being "out of sight, out of mind". Pre-pan- demic, the few who worked from home could easily be- come invisible and drop off of their managers' radar. Nat- urally, the problem is magni- fied now that the number of remote workers has grown so dramatically. Compounding this challenge is the reality that local busi- ness leaders (not so directors in public service) are distrust- ful of the virtual arrangement. In many cases, it is because they've not yet mastered the art of effective objective set- ting, check-ins, offering sup- port and holding workers ac- countable remotely. In other cases, they've been let down by people who've taken advantage of the situation. ere are also concerns that the lack of serendipitous en- counters with office workers could stifle creativity and re- duce team cohesion. School closures during the first and second semester, meanwhile, have placed an extra burden on working parents. No one can look into a crys- tal ball and know exactly where they will be next year. But if we want to be in a bet- ter environment (possibly buttressed with an effective vaccine), we must take smart decisions not to slacken our resolve on social distancing as advised by the health author- ities. During this tale of woe, we have witnessed political leaders constantly vying for attention reminding us that the sun will soon shine over the cloudy days that lie ahead of us in the winter days. Little do we empathise with the thousands of elderly locked in care homes, vulnerable peo- ple and pregnant women har- ldy daring to look to the future in these dismal times. It is in the spirit of solidari- ty and other Christian virtues that we must support them in their temporary isolation as advised by the health authori- ties. e bitter pill is the routine to face the boredom of stay- ing indoors and contemplate on their lack of mobility and human interaction. e pic- ture we get from the media is that there is no way we can avoid drinking from the poi- soned chalice of a pandemic - it comes with no known date of closure. It is then, up to our po- litical leaders to think outside the box and in a non-partisan manner endeavor to minimise the burden of suffering among all and sundry. is is a time for a call for com- mon sacrifice, burden-sharing and a cohesive national policy. We have thousands of health- care workers and other public servants putting their health and lives at risk to treat those infected both now and in the future. We have tele-workers deny- ing themselves not only the benefits of comingling with other office mates but feeling stressed due to the confine- ment of homes. e coming 2021 budget is expected to re- duce electricity tariffs, trim vat and slash duty on fuel (oil and LNG prices are down to almost 45%) apart from other welfare increases to mitigate loss of earnings and cost of living in- crease. Part of these budget proposals will reduce cost of home working. In conclusion, a lot of sacrific- es have been taken by compa- nies to retain staff: in fact, Au- gust unemployment went up by a mere 2,000. Can we suc- ceed in keeping the commerce afloat over the coming winter? Not unless furlough workers continue to receive a wage sup- plement. Large hotel chains have re- cently placed their workers on a two-day routine in an effort to reduce their winter operat- ing costs in the most pragmat- ic way. Be that as it may, we also have other home-grown nuances. With an ageing pop- ulation, a growing trust gap be- tween politicians and ordinary people, the lack of adequate investment in physical, social and economic infrastructure render the corona challenges formidable. Taken together, this social anomaly is generating a time bomb for inequality. Econo- mists tell us that more educat- ed, higher-earning employees are far more likely to work from home – so they are continuing to get paid, develop their skills and advance their careers. At the same time, those una- ble to work from home – either because of the nature of their jobs, or because they lack suit- able space or internet connec- tions – are being left behind. e latter face bleak prospects, especially if their skills and work experience erode during a winter shutdown and may fall in the poverty trap. George Mangion George Mangion is a senior partner of an audit and consultancy firm, and has over 25 years experience in accounting, taxation, financial and consultancy services. His efforts have seen PKF being instrumental in establishing many companies in Malta and ensured PKF become one of the foremost professional financial service providers on the Island The pain and pleasure of working from home 1.10.2020