Categories
Work

7 Workplace Trends According to Microsoft

Did you know:

  • 46% of the workforce planning to move because they can now work remotely.
  • Remote job postings on LinkedIn have increased over 5X since the pandemic.
  • Weekly meeting time has more than doubled for Teams users since February 2020.
  • There was a 40.6b increase in emails delivered in Feb. 2020 vs. Feb 2021.

According to research conducted by Microsoft, the year 2020 introduced dramatic workplace shifts that are here to stay.

I’ve provided the key excerpts below:

1. Flexible work is here to stay

Over the past year, no area has undergone more rapid transformation than the way we work. Employee expectations are changing, and we will need to define productivity much more broadly — inclusive of collaboration, learning, and wellbeing to drive career advancement for every worker, including frontline and knowledge workers, as well as for new graduates and those who are in the workforce today. All this needs to be done with flexibility in when, where, and how people work.

Satya Nadella, CEO at Microsoft

2. Leaders are out of touch with employees and need a wake-up call

“Many business leaders are faring better than their employees. Sixty-one percent of leaders say they are “thriving” right now — 23 percentage points higher than those without decision-making authority. They also report building stronger relationships with colleagues (+11 percentage points) and leadership (+19 percentage points), earning higher incomes (+17 percentage points), and taking all or more of their allotted vacation days (+12 percentage points).”

3. High productivity is masking an exhausted workforce

“Self-assessed productivity has remained the same or higher for many employees over the past year, but at a human cost. One in five global survey respondents say their employer doesn’t care about their work-life balance. Fifty-four percent feel overworked. Thirty-nine percent feel exhausted.”

4. Gen Z is at risk and will need to be re-energized

“Sixty percent of this generation — those between the ages of 18 and 25 — say they are merely surviving or flat-out struggling right now.”

5. Shrinking networks are endangering innovation

“…companies became more siloed than they were before the pandemic. And while interactions with our close networks are still more frequent than they were before the pandemic, the trend shows even these close team interactions have started to diminish over time.”

When you lose connections, you stop innovating. It’s harder for new ideas to get in and groupthink becomes a serious possibility.

Dr. Nancy Baym, Senior Principal Researcher at Microsoft

6. Authenticity will spur productivity and wellbeing

Before the pandemic, we encouraged people to ‘bring their whole self to work,’ but it was tough to truly empower them to do that. The shared vulnerability of this time has given us a huge opportunity to bring real authenticity to company culture and transform work for the better.

Jared Spataro, CVP at Microsoft 365

“Compared to one year ago, 39 percent of people say they’re more likely to be their full, authentic selves at work and 31 percent are less likely to feel embarrassed or ashamed when their home life shows up at work. And people who interacted with their coworkers more closely than before not only experienced stronger work relationships, but also reported higher productivity and better overall wellbeing.”

7. Talent is everywhere in a hybrid work world

This shift is likely to stick, and it’s good for democratizing access to opportunity. Companies in major cities can hire talent from underrepresented groups that may not have the means or desire to move to a big city. And in smaller cities, companies will now have access to talent that may have a different set of skills than they had before.

Karin Kimbrough, Chief Economist at LinkedIn

The Consequence: Employees are More Willing to Quit

Categories
Work

The 2 Articles Every Rising Executive Must Read

Many of today’s rising managers and executives come from a range of academic backgrounds, from anthropology to zoology. While this doesn’t diminish their intelligence or critical thinking skills, I have found that many middle managers lack some of the foundational learnings critical to a business education.

I still think that practical experience outweighs academic theory. However, many people growing their knowledge within a particular industry develop a closed, myopic view of their industries and business strategy.

For this reason, I believe it is important to familiarize (or re-familiarize, for those who once attended business school) oneself with core strategic training.

Below are two eminent articles by Peter Drucker and Michael Porter, which capture the essence of many business school lectures and books. Read and understand these two articles and you’ll quickly be speaking the language of MBA grads…without the ridiculous tuition.

What Makes an Effective Executive
by Peter F. Drucker

An effective executive does not need to be a leader in the sense that the term is now most commonly used. Harry Truman did not have one ounce of charisma, for example, yet he was among the most effective chief executives in U.S. history. Similarly, some of the best business and nonprofit CEOs I’ve worked with over a 65-year consulting career were not stereotypical leaders. They were all over the map in terms of their personalities, attitudes, values, strengths, and weaknesses. They ranged from extroverted to nearly reclusive, from easygoing to controlling, from generous to parsimonious.

What made them all effective is that they followed the same eight practices.

<Read more>

How Competitive Forces Shape Strategy
by Michael E. Porter

The essence of strategy formulation is coping with competition. Yet it is easy to view competition too narrowly and too pessimistically. While one sometimes hears executives complaining to the contrary, intense competition in an industry is neither coincidence nor bad luck.

Moreover, in the fight for market share, competition is not manifested only in the other players. Rather, competition in an industry is rooted in its underlying economics, and competitive forces exist that go well beyond the established combatants in a particular industry. Customers, suppliers, potential entrants, and substitute products are all competitors that may be more or less prominent or active depending on the industry.

The state of competition in an industry depends on five basic forces…

<Read more>

Categories
Work

Succeed by Slacking: How to Get Promoted

I didn’t receive much guidance growing up. I fumbled my way through school not really knowing where I was headed. The only career advice I received was “be a doctor or lawyer”. I became neither.

I didn’t know much. But I did *know* (or so I thought) that working hard would pay off.

I busted my tail through college and university, and later two masters degrees while working full time. School teaches you that hard work is the key to success. It’s a reward system that I became addicted to and could manipulate to my advantage. Work hard, study hard and get my dopamine fix through my good grades.

I was a great student!

In school I was consistently near the top of my class and I figured I was on the right path to success. Unfortunately, school doesn’t really prepare you for the corporate world.

In the corporate world, hard work will only take you so far. In fact, it can be counterproductive at times. It is in the first phase of your career that hard work matters the most.

During the early stages of your career, you need to learn a lot and prove yourself. Nobody knows you so you must deliver a lot to succeed. This means taking on and learning as much as humanly possible. It means working long days until what once took you 3 hours to complete eventually takes 30 minutes.

Junior employees are ditch-digging foot soldiers. The only thing that matters is how well you can take orders and use the tools provided. Call this Phase I of your career.

Once you become a master of your tools (physical or intellectual), you start to add value. You generate your own processes, interpret and analyze information and communicate recommendations to senior staff. This is the point of your career where those who create value can progress quickly, often by jumping from company to company.

Call this Phase II of your career.

So now you’re a middle-manager in some corporate behemoth. This is where many careers fizzle out. Why? Not because people can’t handle their new positions. No, it’s because they keep applying the same strategies as they did in Phase I and II of their careers.

It is in this third phase that the marginal benefits of hard work start to decline. Sure, a hard worker will be valuable to the team. You will get a decent paycheque and occasional recognition. But working super-hard during this third phase of your career could counterintuitively limit your upward mobility.

When you’re working hard, your time is gone. You’re busy managing multiple projects at the same time with little remining time to think. And by the time you have a moment you’re too drained to be productive.

Doing a lot is not the same as doing the things that matter.

Often, time to ruminate is needed to prioritize the work that has the biggest impact. Executing on 3 high impact projects very well will get you noticed far more than doing 15 low impact activities moderately well. People are remembered for their pinnacle work, not for all the shit they shoveled for the firm.

Another reason to work less hard as you rise in the ranks is so you always have spare capacity. When the big boss has an urgent request, the person with spare capacity can more easily and quickly jump into action and save the day. Meanwhile, people bogged down by meaningless tasks miss those opportunities to shine in front of senior executives.

Perhaps most importantly, unfortunately for the introverts out there (e.g. me), managers who aren’t glued to their desks make connections and get noticed. I’m talking about facetime. Networking. Schmoozing.

Of course, meeting people for lunch or coffee requires time. But networking is critical to career progression so you better make the time. Namely, you better reallocate time from completing meaningless tasks to making meaningful connections with people in your company and industry.

Won’t people think you’re slacking?

Nope. You have to be pretty blatant about it to get noticed. So much work within a corporation is qualitatively measured, it’s almost impossible to keep track of individual capacity. In a corporate environment, determining whether someone is operating at 70% or 100% capacity is an impossible task. Usually, it’s not worth the time and effort to figure out to any degree of certainty. Moreover, if business leaders care about results (as opposed to busyness) the person operating with spare capacity will actually appear like they’re working harder than the rest.

Once you’re in that middle management phase of your career, my suggestion is to set your own agenda as much as possible. Without disregarding your boss’s requests, this means setting time aside for business and career priorities.

If X, Y and Z are critical to your company’s success, don’t waste too much time on A, B and C. Many people mistake activity for productivity. This is why bureaucrats love meetings. Meetings feel productive even though they accomplish nothing.

Many middle managers work like crazy without reward. If you prove you’re an indispensable shit-shoveler that’s who you’ll remain.