The way we work has transformed significantly due to recent events. Is this change beneficial?

This Week In Your Wallet: Work Today, Is It a Place We Visit or a Task We Perform?

Years back, I was inspired by Jamie Lee Curtis at a women’s conference in California. She shared her intention to tell her children, “Mommy is going to work” instead of “Mommy has to go to work.” This shift emphasizes that work isn’t just a chore; it can be something we look forward to.

This week, I reflected on a statement I read: “CEOs trying to bring employees back to the office are likely pursuing a misguided strategy. Work isn’t a location anymore. It’s an activity.”

What do you think? Personally, I crave a stable workspace to visit regularly. I recognize the impact of remote work, particularly on younger employees. It’s not about formal training being absent, but rather the spontaneous conversations that foster quick learning. Asking a question in passing can lead to valuable follow-ups, unlike the endless back-and-forth of emails or messages. There’s something to be said for being immersed in an environment where you learn from colleagues simply by being present.

Butterfield highlights areas we still need to improve, such as effective communication, managing meetings, and setting clear expectations for employees. He argues that advancements in tools and technology are essential for enhancing remote work and that we need to better understand asynchronous collaboration on projects.

Resignation or Realignment?

Butterfield’s insights align with ongoing discussions about the Great Resignation. Derek Thompson from The Atlantic acknowledges the record numbers of people leaving jobs recently. However, he points out three common misconceptions.

First, it’s not merely a mass quitting. He explains that low-wage workers are actually transitioning to better-paying jobs in sectors eager to attract talent. This shift resembles more of a big switch than a big quit. Additionally, many who resigned were older workers who opted for early retirement, often unexpectedly. Lastly, while burnout is a concern for white-collar employees, the exodus from fields like law, finance, and tech is relatively minor.

… But Burnout Is a Real Issue

Rachel Feintzeig from a leading publication mentions a study revealing that over half of workers feel their mental health has declined since the pandemic began. If you're experiencing this, it's crucial to discuss it with your manager, as it differs from confiding in a friend. Identifying what you need to improve your situation is key. Do you require therapy, a break, or something else? Managers should also check in regularly with their teams, provide flexibility, and eliminate unnecessary meetings. Small adjustments can lead to significant improvements.

Time Is Running Out in 2021

If you're wondering how December flew by so quickly, with Christmas just around the corner, here’s the scoop on essential money moves to make before the year ends. Changes to retirement contributions, reviewing benefits for the upcoming year, and understanding the rules surrounding Flexible Spending Accounts are all crucial. Misconceptions about rolling over unused funds can lead to confusion, so clarify with your HR department.

Gifting Ideas for the Holidays

If you’re struggling with gift ideas for those hard-to-shop-for individuals, consider exploring guides that focus on thoughtful gifts rather than material items. Look for experiences, second-hand gifts, or upcycled items.

If that doesn’t appeal to you, perhaps consider the unique route taken by a columnist who gifted her mother a crypto wallet loaded with an NFT created from her child's artwork. If you’re even a little curious about cryptocurrency, that story is worth a read.