Insurance and financial services company, Nationwide, recently announced its team was so successful working from home during the shelter-in-place period brought forth by the COVID-19 pandemic, the brand is extending the remote work period permanently. Nationwide has more than 98 percent of its workforce currently working remotely and plans to downsize its 20 physical offices to four.
"We've tracked all of our key performance indicators, and there has been no change," says Nationwide CEO Kirt Walker. "We keep hearing from members, 'if you hadn't announced you were all working from home, we never would have known.'"
Walker also cautions that after historical events of this magnitude, there is a "permanent mindset shift," and hopes its work from home shift will prepare Nationwide for sustainable growth in the future.
Remote Work Pivots
Nationwide Announced Its Staff Will Permanently Work Remotely Post-Pandemic
Trend Themes
1. Permanent Remote Work - Nationwide's decision to permanently work remotely post-pandemic highlights the trend of companies adopting long-term remote work policies.
2. Virtual Workforce Optimization - Nationwide's success with a remote workforce showcases the trend of companies optimizing their virtual teams to improve productivity and performance.
3. Physical Office Downsizing - Nationwide's plan to downsize its physical offices signifies the trend of companies reducing their physical office spaces in favor of remote work options.
Industry Implications
1. Insurance - Nationwide's shift to permanent remote work presents disruptive innovation opportunities for the insurance industry to enhance flexibility, streamline operations, and drive cost savings.
2. Financial Services - Nationwide's successful implementation of remote work opens up disruptive innovation opportunities for the financial services industry to leverage virtual infrastructure and improve customer experience.
3. Technology Services - Nationwide's decision to downsize physical offices creates opportunities for technology services companies to provide virtual workspace solutions, cybersecurity measures, and remote collaboration tools.