This company’s unique hybrid work model is here to stay. Here’s why!

Tuesday: Return Driven Strategy FROM THE DESK OF MILES EVERSON: With more than 30 years of experience in business and consulting, I've refined my expertise in those fields through Return Driven Strategy (RDS). This pyramid-shaped framework has 11 tenets and 3 foundations that enable firms to achieve genuine and ethical wealth creation. Today, our focus is on RDS' ninth tenet: Engage Employees and Others. Keep reading to know why engaging employees is crucial to a business’ success. Stay tuned also as I have an important announcement for you at the end of this article. CEO, MBO Partners Chairman of the Advisory Board, The I Institute

This company’s unique hybrid work model is here to stay. Here’s why! The COVID-19 pandemic drastically altered the way work was done. At the height of the health crisis and after its severity waned, most employees found themselves working remotely from their homes. While that working setup was the norm for a considerable amount of time, soon enough, employers wanted their employees to return to the office, citing a decrease in productivity as one of the reasons. On the other hand, employees continue to voice their opposition to the return of on-site work since they believe they're more productive working remotely. Amid this fierce debate on the merits of returning to on-site work, one company has come up with a work setup that its employees actually like… The J.M. Smucker Company, a.k.a. Smucker’s, adopted a hybrid work model that only requires its employees to return to the office during 22 designated “core” weeks each year. Due to the adoption of this policy, the Smucker’s employees can live anywhere in the U.S. as long as they make their way to the company’s headquarters in Orrville, Ohio at least 25% of the time or six days a month. What else? During “core” weeks, employees usually pack their days with meetings, spontaneous hallway conversations, team lunches, and dinners! As a result of the flexible working setup, employees were able to spend more time with their loved ones, leading to a positive reception to the company’s hybrid work arrangement. In response to his employees' enthusiastic reception to the work setup, Mark Smucker, the chief executive officer of Smucker's had this to say in an interview: “Whether it’s this model, or some other model, I find it very hard to imagine a world where we go back to being in the office even four days a week, let alone five. I just don’t see it happening. There’ll be some form of this forever.” Motivate Employees Through Non-monetary Means In the book, “Driven,” Professor Joel Litman and Dr. Mark L. Frigo emphasized the importance of motivating employees in achieving high returns under Tenet 9: Engaging Employees and Others. According to the authors, employees have unmet needs of their own that companies must take into account if they want to boost business performance. More often than not, the factors that help workers perform at their best are non-monetary, such as appreciation for what they do, job satisfaction, and a good work environment. Due to those factors, managers must keep this question in mind: “What employment offering can be provided to create high engagement from the right employees who can provide those skills and services?” After acknowledging the non-monetary needs of its employees, Smucker’s came up with a work setup that favored both the company and its workforce. The firm also recognized that hybrid work granted employees the flexibility to choose their living and working locations, ensuring more time spent with their family. Due to the adoption of a flexible working setup, Smucker's now has a motivated workforce that's prepared to provide its utmost effort in everything that it does. Remember: When it comes to motivating employees, the most important motivators aren’t always related to money. If you’re looking to gain a better understanding of Return Driven Strategy and Career Driven Strategy, we highly recommend checking out “Driven” by Professor Litman and Dr. Frigo. Click here to get your copy and learn how this framework can help you in your business strategies and ultimately, in ethically maximizing wealth for your firm.   Hope you found this week’s insights interesting and helpful. Here at MBO Partners, we are committed to your and your business’ financial success. That is why we have a recommendation to make this new year. In 2023, bankruptcies skyrocketed to 30%. Around 600,000 job openings disappeared. Unprecedented numbers of auto loans are being defaulted, and home sales continue to crash. There is a deep crisis unfolding… and it’s also going to worsen over the next few years! Luckily, my friend and colleague and Chief Investment Strategist of Altimetry Financial Research, Prof. Joel Litman, said there is an investment strategy that can weather this crisis and protect your wealth. This method is specific, secure, and above all, easy to use. The details are all here, so you can begin using it today. The next 24 to 36 months will be stormy seas. However, with this investment type, smooth sailing awaits you. Being digitally literate is crucial in today’s post-pandemic work environment due to the fact that businesses are starting to become more tech-savvy in how they operate each day. Learn more about the importance of being digitally literate in next week’s article!