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Thursday, September 02, 2021

Can Remote Management Succeed, Innovate, Grow?

 A debate.

How can companies with remote workforces innovate and grow? The question has been dividing business leaders. James Heskett considers both sides of the debate.  in HBSwk

Despite reams of material written about remote work in recent months, we know very little about the impact of remote management on performance. Perhaps it’s too soon. Until we can assess longer-term performance under home office and remote management, we can’t be sure of the impact.

Nevertheless, leaders have to make decisions about reassembling a management team in an office without full evidence. Greg D. Carmichael, CEO and chairman of Fifth Third Bancorp in Cincinnati, is one, according to a recent Wall Street Journal report. In calling all of Fifth Third’s employees back to the office he remarked that, “We can’t be a great company working remotely … We can get the job done, but it’s tough to flourish.”

The comment refers to Fifth Third’s management core. Like many service organizations, it will continue to deliver its services through branches as well as the internet, but not through employees managing from home. Mat Ishbia, president and CEO of UWM Holdings, shares the sentiment. As he puts it in the same report, “We are better together. If you have an amazing culture, and great people that collaborate and work together, you want them in the office together.”   ... ' 

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