Hartford Business Journal

35 HARTFORDBUSINESS.COM | JUNE 14, 2021 Hartford is bouncing back — but is it moving forward? By Keith Hubert A fter what feels like an eternity, Hartford is emerging from the shadows of the pandemic. Our state has successfully rolled out the vaccine. We're seeing less masks and more shops and restaurants at full capacity, plus the return of concerts and Yard Goats games. Many offices have reopened, with 42% of Hartford Business Journal subscribers who recently responded to a four-week PwC-HBJ survey, saying they're back in their workplace at least half of the time. The remaining businesses are racing to finalize their return-to-workplace strategies after a great deal of economic and job uncertainty. Despite a handful of critics who expressed less-than-optimistic outlooks about the future of Hartford last year, our four-week survey of the community conveys a different message. First: People are here to stay. Ninety-two percent of Hartford respondents have had no change to their living situation due to COVID-19, and are not considering or planning to relocate. Compare that to 66% nationally. A second statistic points to the strength of our leadership: 76% of Hartford respondents agree that their company's leaders have been transparent with employees about financial challenges facing their business during COVID-19. That's a strong majority. In my opinion, these stats are very telling about our ability to work together during the toughest of times. It's one of the reasons why I'm proud to live and work here, and to serve clients who employ much of our workforce locally. And while we can take some well- earned time to celebrate (perhaps with some human interaction), we should look ahead to the future of work and how it'll shape our city. I believe there are three key pillars in a successful path forward: 1. We should do more to foster an innovative and inclusive workforce. According to respondents of PwC's US Remote Work Survey, 81% of executives say their company has been successful in extending benefits for child care, while only 45% of employees say the same. These shortcomings are not without consequences. COVID-19 caused a "shecession"; increasing the unequal burden of care carried by women, and causing more women than men to leave the labor market. As these demands persist, women may choose to leave their jobs permanently, reversing progress toward equality and stunting economic growth. Studies and experience show that companies with a diverse workforce are more likely to have increased ROI, different perspectives and creative thinking. Businesses should deliberately drive inclusion efforts and keep it at the top of their agendas. Workplaces that foster a welcoming and inclusive environment are better suited for the future – leading to the broader economic development and relevancy of Hartford. 2. We should listen to our employees and lean into the hybrid model. Nearly half of Hartford respondents want to work remotely two to three days a week; only 18% want to return to the office full time. The health and safety of the workforce should be management's top priority. Forcing employees back into the office is unlikely to create the energized and creative attitudes needed for a company to thrive. Leaders should listen to their employees and strive to deliver what they want and need. Hartford respondents said they'd like companies to invest in reskilling and new technology to feel more confident in their jobs, followed by well-being, work-life balance and childcare programs. Businesses should look to improve digital tools and capabilities (in particular, investing in virtual collaboration tools), which in turn can improve productivity and culture in a hybrid workplace. Leaders should also focus on benefits like mental health and well- being resources, childcare services and training for managers to work effectively in a remote environment. Finally, businesses may reduce or expand leases as they perform scenario planning for mid-term and longer-term real estate needs. 3. We need to attract and retain the type of talent that'll grow our bottom line — and our city. Tomorrow's leaders are the rising stars of today's workforce. Leaders need to keep a finger on the pulse of what current and next-gen employees want and need from their employers to be successful, happy and engaged. Hint: Many of them prioritize non-traditional incentives such as flexibility and additional vacation time and will even give up some salary to be able to work virtually. Adding and emphasizing non- traditional incentives when hiring will help encourage those entering the workforce to grow their careers at local companies. In short: Hartford has an excellent foundation to emerge and continue to grow as a world-class city. To achieve this, each business leader has a responsibility to revisit their strategy, talent, culture, customers and demand. In my opinion, if each of us commits to innovating, embracing change and thinking in ways we haven't before, we have a bright future ahead. Keith Hubert is the managing partner of PwC's Hartford office. OPINION & COMMENTARY OTHER VOICES Business community 'unequivocally condemns' recent acts of racism, hatred By David Griggs Recent events at the Amazon warehouse currently under construction in Windsor have shocked the Greater Hartford community and our entire state. The discovery of nooses on the work site once again showed that racism and discrimination are all too prevalent in our society. Worse still, the implied threat of violence is chilling and unacceptable at a place of business or anywhere else. The MetroHartford Alliance unequivocally condemns these acts and adds its voice to the chorus of those calling for a swift, thorough investigation by all levels of law enforcement. While it is beyond regrettable that these hateful acts have taken place, we do take some hope from the robust, thoughtful reaction coming from the community. People from all walks of life have forcefully spoken out against these terrible acts. From across our state, voices have been heard loud and clear saying that hate does not belong in Connecticut, and that we are united against the acts of these ignorant, sickening perpetrators. The MetroHartford Alliance remains committed to our mission of helping the capital region be an exceptional place to live, work and raise a family. We stand ready to work with every member of our community to ensure our region is a place where racism, discrimination and hatred have no home. David Griggs is the president and CEO of the MetroHartford Alliance. OTHER VOICES BIZ BOOKS Keith Hubert David Griggs How to boost your team's productivity By Jim Pawlak "Faster Together – Accelerating Your Team's Productivity" by Laura Stack (Berrett-Koehler Publishers, $18.95). Think of the team you manage as a NASCAR pit crew and their projects as races. While you're in the driver's seat, you rely on your pit crew to prepare the car for the race, ensure pit stops are timely and fast and make during-the-race adjustments based upon what you're experiencing as the driver. Even the most-skilled NASCAR driver stands no chance of winning a race unless the pit crew does its job. With the NASCAR analogy at the forefront, Stack introduces the FAST team model. The starting line: Using her FAST team test (pages 12-28), assess team continuity and performance relative to the four elements of FAST: 1. Fairness deals with building working relationships, handling and resolving conflict and collaborative effort. 2. Accountability maximizes performance through trust and respect for team members — and accepting responsibility for execution. 3. Systems focus on increasing efficiency through time management and an effective decision-making process. 4. Technology involves communicating effectively through email, voicemail, conference calls — and ensuring meetings are productive, particularly if team members are off-site. A score of five in a category indicates the team is doing well. Lower scores indicate "speed bumps" that need to be addressed. (I'd consider a score of one a pothole that needs to be filled quickly.) Chapters on each element provide spot-on advice for dealing with speed bumps. The finish line: Let your team take the test, too. Tally results and discuss them at a team action-plan meeting. Close attention should be paid to areas where there are discrepancies in ratings. To measure progress, all should retake the assessment in 45 days after the action-plan meeting.

• Cover