LONDON–When it comes to the massive shift to work from home arrangements, the pendulum continues to swing back toward findings and views that it isn’t as problem free as some initial analysis suggested, with one new analysis identifying 47 different things that can go wrong.
The U.K.’s Fixed Income, Currencies and Commodities’ Markets Standards Board has published what it calls a Spotlight review that examines the risks of remote work, finding in the report there are a number or risks, including:
- Improper behavior may not be identified until much later.
- Risk to confidentiality and client privacy if family members or housemates work for competitors
- Individuals feel compelled or coerced to return to offices to gain visibility or for career progression.”
- Risk of staff disengaging from the culture of the firm leading to reduction in shared values and increased propensity to work around existing controls.
- Without the natural rhythm and with no opportunity for decompression from work as no commute time, staff are often working much longer shifts and so more prone to errors and to suffering mental health issues.