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š¤” Mayor says WFH creates losers
Inside: remote work in the metaverse, massive Japanese nomad project, 911 dispatchers who WFH, the Brick app for distractions, and more.
Good Morning,
What a time in Denver last week with @WorkFromDenver, Uncle Timās Cocktails, and over 50 remote workers at the sold out happy hour!
Remote work is obviously great, but one of the only downsides is the lack of social time that people would normally have in an office. Hope to see many more events like this popping up across the country to help remote workers stay social.
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Need to Know
š° Federal Reserve Chair Jerome Powell doesnāt expect crisis from remote work
In his interview with 60 Minutes that aired February 4th, Powell stated that remote work appears persistent and that working arrangements are unlikely to change drastically from here on. But what does that mean for banks, and the economy at large?
You have weakness in office real estate, and also retail, downtown retail... And there will be losses in that, [but this] doesn't appear to have the makings of the kind of crisis things that we've seen sometimes in the past, for example, with the global financial crisis.
Plus, you may remember that smaller, regional banks have more exposure to commercial real estate loans. Powell said his organization is specifically working with those banks āto make sure that they have the resources and a plan to work their way through the expected losses.ā
While it brings me no joy to see disruptions to such major sectors of the economy, itās reassuring to know that these trends are top of mind among those with the ability to mitigate their impacts. (CBS News)
š Can the metaverse improve remote work?
Now that the Apple Vision Pro has been released, expect this question far more often in the months ahead.
In the Metaverse, the opportunities for small talk are endless and can help build authentic connections among employees who would otherwise remain disengaged. Trust and transparency are built in environments where colleagues can relax and interact informally, and the Metaverse excels at creating those moments.
Most employees want some form of connection with their colleagues. But, to the dismay of some leaders, those employees often value their flexibility even more, and gladly trade their office connections for remote work.
Being able to work remotely in an environment that facilitates the serendipitous connections traditionally found in offices once seemed like a pipe dream, but it may be closer to us than we realize. (Chief Executive)
š§® Productivity measurements are increasingly difficult
The idea of productivity is never going away ā but modern technology, advances in the service economy, and remote work have all caused even more debate when it comes to whether people and companies are producing optimal output.
Everyone views productivity differently; even colleagues at the same company can have widely varying opinions. Bosses are far less likely to say their employees are working productively than the employees themselves, for example.
And given the modern ability to work from home, itās even more important to be clear when defining productivity for individuals. So next time youāre talking with your boss about your own productivity and goals, be sure your success is measured by your outputs (clear results), not your inputs (like hours worked). (Bloomberg)
šÆšµ Japanese project for digital nomads underway
Mitsubishi Estate, one of the largest real estate developers in Japan, is creating a housing solution for international digital nomads who want to stay in Tokyo for one month to one year at a time. They expect to manage 10,000 of these rental properties by 2030.
Today, itās commonly cited that there are about 35 million ādigital nomadsā in the world, and with the continued adoption of remote work, that number is likely to balloon in the coming years. Expect more of these projects across the world, especially in popular international destinations. (Visa Guide)
š¤” Mayor ājokesā that remote work turns people into losers
Resident wet blanket (and mayor) of Minneapolis, Jacob Frey, tried to encourage more people to come back to Minneapolis offices last week at a Downtown Council luncheon, bizarrely claiming that a study showed remote work turns people into losers. And yes, he immediately qualified for the Clown Show.
After the clip and quote circulated the internet, he made a statement the following day that said āI was joking about a nonexistent study referencing nonexistent people.ā Iām glad he clarified, though unfortunately Iām convinced heās no fun at parties if he considers that a joke.
Mr. Mayor, if youāre going to try to mock something that a majority of your constituents prefer, it is you who will soon be the real āloser.ā (ABC KSTP)
š Remote work improves 911 dispatch
While remote work is often associated with high-tech or knowledge work professions, itās found a very successful use case in Kitsap County in Washington State, where 911 dispatchers can work from anywhere as long as they have secure internet access.
Between 2019 and 2022, 25% of 911 dispatch jobs were vacant. And one executive at Hexagon, a software company which powers law enforcement agencies in major cities across the world, says āPublic safety is not unlike other industries. Once one municipality does it, and they have success doing it, others will jump on.ā Hereās hoping more cities will fill their important dispatch job openings by following Kitsapās lead. (Fast Company)
Stuff We Like
š„ Beehiivās Remote Handbook
A couple weeks ago we shared Beehiiv CEO Tyler Denkās newsletter issue explaining the advantages that remote work gives his fast-moving company.
Heās followed that up with a remote handbook, with more details into how Beehiiv operates remotely. He shares their tech stack, meeting policies, communication strategies, and more. Given the fast pace of product development and growth, his take on operating remotely is worth a read for any executive.
To read his Remote Handbook article, click here. To subscribe to his newsletter, click here.
š„ Prevent distractions with the Brick
As a disclaimer, I donāt own one of these, but theyāve been gaining lots of attention across the internet lately. Itās a small magnet that, when in proximity of your phone, enacts settings that prevent the phone user from opening whatever apps they consider distractions.
Itās suggested to leave the Brick at your desk, on your fridge, or in any other place where you want to be productive without constant notification pings that might limit your productivity.
I like this premise because changing notification settings in your phone can be cumbersome, and the iPhoneās app time limits are arbitrary. The idea of walking into a space and knowing you wonāt be bothered there is idyllic given how much technology we interact with these days. Might have to try it out soon! Check out the Brick here.
š„ How high-performing teams build trust
Among other things, high-performing teams discuss how they will collaborate before beginning projects, believe disagreements will leads to better outcomes, and proactively address tension.
From Harvard Business Review, this article from January is worth your time.
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