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Did We Forget to Give Teams a Remote Working Playbook?

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Calendar


Imagine you’re a new employee at a time when many people are starting their careers remotely. Where is the remote work playbook? Are employees ready for remote work routines? How do they feel about their remote working routines?

Maybe you felt a little uneasy and didn’t know how to blend in when you started your first job. Perhaps you didn’t know who to ask questions from or seek support — or even how or what to ask, in the first place? After a while, you gained a feel for how things operated in the business you were in and whom you could turn to ask questions within the organization.

Where is the Teams Remote Working Playbook?

Imagine you’re a new employee at a time when many people are starting their careers remotely. Your first coding, writing, or new internship is your job. How do you handle your schedule with college, study, and work? Who’s going to help you navigate this new form of time management? Hopefully, if you are an employer, parent, or mentor you will know how-to guide this new person.

But as a young new employee — how will you understand office culture if you’d never worked?

Interpersonal issues

It’s difficult for first-time remote workers to stay motivated, especially if their boss only occasionally calls but rarely meets them. Their superiors and coworkers aren’t as accessible as they would be if you were in the office each day — or if you had had a relationship in the past (before COVID) as a full-time employee.

Finding the knowledge these new workers need will take more effort and time than has previously been addressed.

Many firm policies, procedures, and onboarding programs provide guidance but lack cultural awareness. New remote employees may be overwhelmed and have questions, but are hesitant to ask. New employees and their employers often believe an individual should resolve matters independently and avoid drawing attention to themselves. Some businesses don’t realize that everything has changed over the last couple of years and new protocols need to be in place.

Changing channels to remote work

Managers should explore daily check-ins with remote new employees.

An onslaught of messages and responsibilities throughout the day may not offer a new hire a sense of belonging. Consider combining emails, phone conversations, video meetings, and online collaboration portals.

Encourage questions and use blunders as learning opportunities. Consider providing a “virtual buddy” who will furnish informal support to your new team member along with virtual coaching. Always think about the career growth of your new employee — and specify possible career routes and milestones. Teaching a career path and the acquired learning helps the new team member feel a ray of hope.

Prescribe working part-time at the office or on the job site if your less experienced employees can accommodate the schedule. One-third of workers aged 18-24 preferred working offsite only one day a week, according to PwC, and only a fifth of those polled agreed.

Onboarding and rapport development are great — but organizational knowledge is likely best shared by more senior teams.

Working it with remote work

As an example, consider the case of Emily who started as an IT apprentice for an international horticultural company during the pandemic. She initially shadowed her mentor online and his calls and team meetings helped her master IT troubleshooting. She spent a few days in the office before Covid-19 forced its closure.

Emily admits she was initially intimidated. “I was afraid I’d make a mistake or remove a file from the company but my team is fantastic. If I have questions, I can easily reach someone remotely.”

Within four months, she was working solo, more confident, and well-versed in the process of helping staff with IT challenges. Emily excels in her work due to her management and team’s support, continual IT studies, and her personal drive to grow.

But this type of achievement may not be shared by others who work remotely for the first time.

Perceptions and Health with remote work

During Covid-19, researchers studied teleworking to see how it influenced employees’ job performance, job happiness, and physical and mental health. The researchers found exciting data. You can find their comments in the International Journal of Environmental Research and Public Health.

The research plan Implementation was thorough. The main thing that the subjects said helped them to adjust to their new work schedule was how widely people embraced them. Remote work isolation and conflicts with family and work commitments were the main issues that stopped the new team members’ growth and adaptation.

Those new employees who were the best at adjusting were the ones who had prior remote working experience and thus expertise. Those who were starting their first full-time job and had never worked remotely were not as successful.

Recommendations for making remote work less stressful for new hires: Improve teamwork by teaching everyone at the same level and the same time — and supply a mentor.

Helps for the new employee for remote work — especially if they are young

Discuss communication with all coworkers and superiors together. Teach employees how to use databases to manage tasks and address fundamental IT issues.

Include remote workers in the creation of remote work schedules and the schedules of the in-office staff — review remote work initiatives and have your onboarding team help.

Look for “charge agents’” who will mentor and coach new remote workers. Collaborate with other organizations in your network or sector to share best practices.

In terms of mentorship, the trend toward virtual will likely continue even after all employees return to the office. Virtual mentoring can help employees feel valued, acknowledged, and empowered to perform at their best. Some of the practices of the past for office protocol will never be the same again — so get used to and encourage innovation in your teams.

Making your work programs accessible requires learning communities, communities of practice, and staff resource groups. To provide these services remotely was practically unheard of in the past and has been a challenge. But these practices are becoming normalized in many businesses and institutions since the pandemic.

Rewards and recognition in remote work

Consider rewarding and recognizing remote workers who show initiative and inventiveness. Also, explicitly nurture soft skills in new hires by understanding the need for human interaction to develop these talents.

Giving a new employee some early wins can help develop confidence. Let them co-chair a meeting or deliver a topic of interest to the company. Any leadership opportunities you provide will begin to build trust and credibility among the new employees’ peers.

As you work with your new employee or team member — especially if they are at university, or part-time — your scheduling conflicts will become much less common.

Your current new employees will help you rewrite the playbook for your future remote employees.

Take the awkwardness out of the scenario by using Covid-19’s two years of experience to greet new employees from anywhere — and help them become creative and productive.

Image Credit: Cottonbro; Pexels; Thank you!

 

This article was originally published here.

Calendar

We are Calendar, trying to make the world a much more productive place. Check us out online at https://www.calendar.com.

Politics

Fintech Kennek raises $12.5M seed round to digitize lending

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Google eyed for $2 billion Anthropic deal after major Amazon play


London-based fintech startup Kennek has raised $12.5 million in seed funding to expand its lending operating system.

According to an Oct. 10 tech.eu report, the round was led by HV Capital and included participation from Dutch Founders Fund, AlbionVC, FFVC, Plug & Play Ventures, and Syndicate One. Kennek offers software-as-a-service tools to help non-bank lenders streamline their operations using open banking, open finance, and payments.

The platform aims to automate time-consuming manual tasks and consolidate fragmented data to simplify lending. Xavier De Pauw, founder of Kennek said:

“Until kennek, lenders had to devote countless hours to menial operational tasks and deal with jumbled and hard-coded data – which makes every other part of lending a headache. As former lenders ourselves, we lived and breathed these frustrations, and built kennek to make them a thing of the past.”

The company said the latest funding round was oversubscribed and closed quickly despite the challenging fundraising environment. The new capital will be used to expand Kennek’s engineering team and strengthen its market position in the UK while exploring expansion into other European markets. Barbod Namini, Partner at lead investor HV Capital, commented on the investment:

“Kennek has developed an ambitious and genuinely unique proposition which we think can be the foundation of the entire alternative lending space. […] It is a complicated market and a solution that brings together all information and stakeholders onto a single platform is highly compelling for both lenders & the ecosystem as a whole.”

The fintech lending space has grown rapidly in recent years, but many lenders still rely on legacy systems and manual processes that limit efficiency and scalability. Kennek aims to leverage open banking and data integration to provide lenders with a more streamlined, automated lending experience.

The seed funding will allow the London-based startup to continue developing its platform and expanding its team to meet demand from non-bank lenders looking to digitize operations. Kennek’s focus on the UK and Europe also comes amid rising adoption of open banking and open finance in the regions.

Featured Image Credit: Photo from Kennek.io; Thank you!

Radek Zielinski

Radek Zielinski is an experienced technology and financial journalist with a passion for cybersecurity and futurology.

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Politics

Fortune 500’s race for generative AI breakthroughs

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Deanna Ritchie


As excitement around generative AI grows, Fortune 500 companies, including Goldman Sachs, are carefully examining the possible applications of this technology. A recent survey of U.S. executives indicated that 60% believe generative AI will substantially impact their businesses in the long term. However, they anticipate a one to two-year timeframe before implementing their initial solutions. This optimism stems from the potential of generative AI to revolutionize various aspects of businesses, from enhancing customer experiences to optimizing internal processes. In the short term, companies will likely focus on pilot projects and experimentation, gradually integrating generative AI into their operations as they witness its positive influence on efficiency and profitability.

Goldman Sachs’ Cautious Approach to Implementing Generative AI

In a recent interview, Goldman Sachs CIO Marco Argenti revealed that the firm has not yet implemented any generative AI use cases. Instead, the company focuses on experimentation and setting high standards before adopting the technology. Argenti recognized the desire for outcomes in areas like developer and operational efficiency but emphasized ensuring precision before putting experimental AI use cases into production.

According to Argenti, striking the right balance between driving innovation and maintaining accuracy is crucial for successfully integrating generative AI within the firm. Goldman Sachs intends to continue exploring this emerging technology’s potential benefits and applications while diligently assessing risks to ensure it meets the company’s stringent quality standards.

One possible application for Goldman Sachs is in software development, where the company has observed a 20-40% productivity increase during its trials. The goal is for 1,000 developers to utilize generative AI tools by year’s end. However, Argenti emphasized that a well-defined expectation of return on investment is necessary before fully integrating generative AI into production.

To achieve this, the company plans to implement a systematic and strategic approach to adopting generative AI, ensuring that it complements and enhances the skills of its developers. Additionally, Goldman Sachs intends to evaluate the long-term impact of generative AI on their software development processes and the overall quality of the applications being developed.

Goldman Sachs’ approach to AI implementation goes beyond merely executing models. The firm has created a platform encompassing technical, legal, and compliance assessments to filter out improper content and keep track of all interactions. This comprehensive system ensures seamless integration of artificial intelligence in operations while adhering to regulatory standards and maintaining client confidentiality. Moreover, the platform continuously improves and adapts its algorithms, allowing Goldman Sachs to stay at the forefront of technology and offer its clients the most efficient and secure services.

Featured Image Credit: Photo by Google DeepMind; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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Politics

UK seizes web3 opportunity simplifying crypto regulations

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Deanna Ritchie


As Web3 companies increasingly consider leaving the United States due to regulatory ambiguity, the United Kingdom must simplify its cryptocurrency regulations to attract these businesses. The conservative think tank Policy Exchange recently released a report detailing ten suggestions for improving Web3 regulation in the country. Among the recommendations are reducing liability for token holders in decentralized autonomous organizations (DAOs) and encouraging the Financial Conduct Authority (FCA) to adopt alternative Know Your Customer (KYC) methodologies, such as digital identities and blockchain analytics tools. These suggestions aim to position the UK as a hub for Web3 innovation and attract blockchain-based businesses looking for a more conducive regulatory environment.

Streamlining Cryptocurrency Regulations for Innovation

To make it easier for emerging Web3 companies to navigate existing legal frameworks and contribute to the UK’s digital economy growth, the government must streamline cryptocurrency regulations and adopt forward-looking approaches. By making the regulatory landscape clear and straightforward, the UK can create an environment that fosters innovation, growth, and competitiveness in the global fintech industry.

The Policy Exchange report also recommends not weakening self-hosted wallets or treating proof-of-stake (PoS) services as financial services. This approach aims to protect the fundamental principles of decentralization and user autonomy while strongly emphasizing security and regulatory compliance. By doing so, the UK can nurture an environment that encourages innovation and the continued growth of blockchain technology.

Despite recent strict measures by UK authorities, such as His Majesty’s Treasury and the FCA, toward the digital assets sector, the proposed changes in the Policy Exchange report strive to make the UK a more attractive location for Web3 enterprises. By adopting these suggestions, the UK can demonstrate its commitment to fostering innovation in the rapidly evolving blockchain and cryptocurrency industries while ensuring a robust and transparent regulatory environment.

The ongoing uncertainty surrounding cryptocurrency regulations in various countries has prompted Web3 companies to explore alternative jurisdictions with more precise legal frameworks. As the United States grapples with regulatory ambiguity, the United Kingdom can position itself as a hub for Web3 innovation by simplifying and streamlining its cryptocurrency regulations.

Featured Image Credit: Photo by Jonathan Borba; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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