The Disconnect Between Remote Workers and Their Companies Is Getting Bigger
Kanebridge News
    HOUSE MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $1,682,703 (+0.16%)       Melbourne $1,032,974 (+0.32%)       Brisbane $1,149,503 (-0.48%)       Adelaide $1,044,873 (+0.57%)       Perth $1,087,323 (+0.79%)       Hobart $838,358 (-0.10%)       Darwin $820,666 (-0.12%)       Canberra $979,872 (-0.24%)       National Capitals $1,138,269 (+0.14%)                UNIT MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $797,157 (-0.14%)       Melbourne $549,523 (-0.11%)       Brisbane $755,150 (-0.64%)       Adelaide $578,247 (+0.68%)       Perth $644,099 (+3.57%)       Hobart $571,049 (+0.07%)       Darwin $463,594 (-5.35%)       Canberra $477,768 (-0.27%)       National Capitals $625,689 (+0.06%)                HOUSES FOR SALE AND WEEKLY CHANGE     Sydney 14,358 (+213)       Melbourne 15,978 (-7)       Brisbane 11,458 (+121)       Adelaide 3,654 (+71)       Perth 8,904 (+103)       Hobart 691 (+10)       Darwin 180 (+11)       Canberra 1,209 (+48)       National Capitals 56,432 (+570)                UNITS FOR SALE AND WEEKLY CHANGE     Sydney 9,553 (+66)       Melbourne 6,618 (-48)       Brisbane 2,337 (+34)       Adelaide 604 (-6)       Perth 1,701 (+90)       Hobart 150 (-5)       Darwin 217 (-4)       Canberra 1,213 (+23)       National Capitals 22,393 (+150)                HOUSE MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $870 ($0)       Melbourne $600 ($0)       Brisbane $700 ($0)       Adelaide $660 (+$3)       Perth $750 ($0)       Hobart $628 (-$13)       Darwin $850 ($0)       Canberra $710 (+$10)       National Capitals $733 (+$)                UNIT MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $820 (-$5)       Melbourne $620 ($0)       Brisbane $620 (-$3)       Adelaide $550 (+$10)       Perth $700 (-$20)       Hobart $500 (-$30)       Darwin $675 ($0)       Canberra $590 (+$5)       National Capitals $648 (-$5)                HOUSES FOR RENT AND WEEKLY CHANGE     Sydney 6,676 (+151)       Melbourne 6,952 (+89)       Brisbane 3,472 (+4)       Adelaide 1,309 (+41)       Perth 2,174 (+11)       Hobart 210 (-11)       Darwin 61 (+5)       Canberra 431 (+4)       National Capitals 21,285 (+294)                UNITS FOR RENT AND WEEKLY CHANGE     Sydney 10,090 (-12)       Melbourne 6,145 (+91)       Brisbane 3,338 (+49)       Adelaide 409 (+12)       Perth 701 (+21)       Hobart 75 (0)       Darwin 102 (+4)       Canberra 717 (+47)       National Capitals 21,577 (+212)                HOUSE ANNUAL GROSS YIELDS AND TREND         Sydney 2.69% (↓)       Melbourne 3.02% (↓)     Brisbane 3.17% (↑)        Adelaide 3.28% (↓)       Perth 3.59% (↓)       Hobart 3.89% (↓)     Darwin 5.39% (↑)      Canberra 3.77% (↑)        National Capitals 3.35% (↓)            UNIT ANNUAL GROSS YIELDS AND TREND         Sydney 5.35% (↓)     Melbourne 5.87% (↑)      Brisbane 4.27% (↑)      Adelaide 4.95% (↑)        Perth 5.65% (↓)       Hobart 4.55% (↓)     Darwin 7.57% (↑)      Canberra 6.42% (↑)        National Capitals 5.38% (↓)            HOUSE RENTAL VACANCY RATES AND TREND       Sydney 1.4% (↑)      Melbourne 1.5% (↑)      Brisbane 1.2% (↑)      Adelaide 1.2% (↑)      Perth 1.0% (↑)        Hobart 0.5% (↓)       Darwin 0.7% (↓)     Canberra 1.6% (↑)      National Capitals $1.1% (↑)             UNIT RENTAL VACANCY RATES AND TREND       Sydney 1.4% (↑)      Melbourne 2.4% (↑)      Brisbane 1.5% (↑)      Adelaide 0.8% (↑)      Perth 0.9% (↑)      Hobart 1.2% (↑)        Darwin 1.4% (↓)     Canberra 2.7% (↑)      National Capitals $1.5% (↑)             AVERAGE DAYS TO SELL HOUSES AND TREND         Sydney 34.7 (↓)       Melbourne 33.6 (↓)     Brisbane 39.0 (↑)      Adelaide 32.0 (↑)        Perth 42.6 (↓)       Hobart 30.0 (↓)       Darwin 21.9 (↓)       Canberra 33.2 (↓)       National Capitals 33.4 (↓)            AVERAGE DAYS TO SELL UNITS AND TREND         Sydney 33.6 (↓)       Melbourne 31.2 (↓)     Brisbane 40.9 (↑)      Adelaide 32.6 (↑)        Perth 41.8 (↓)     Hobart 31.3 (↑)        Darwin 43.1 (↓)     Canberra 40.5 (↑)        National Capitals 36.9 (↓)           
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The Disconnect Between Remote Workers and Their Companies Is Getting Bigger

More people who work from home say they don’t feel a connection to the mission of their employers

By LINDSAY ELLIS
Fri, Aug 25, 2023 8:50amGrey Clock 3 min

People who work from home are feeling more disconnected from the larger mission of their employers.

In a new Gallup survey, the share of remote workers who said they felt a connection to the purpose of their organisations fell to 28% from 32% in 2022—the lowest level since before the pandemic. The findings are from a survey this spring and summer of nearly 9,000 U.S. workers whose jobs can be done remotely.

By contrast, a third of full-time office workers reported a similar sense of connection, nearly the same as last year. Hybrid workers clocked in highest, with 35% saying their companies’ mission made them feel their jobs were important.

The findings have broader implications for businesses worried about remote work’s effects on employee loyalty and team productivity. For now, many workers say remote work affords them the ability to focus on their essential duties and avoid some of the extracurriculars of office life. This leaves it to companies to try to foster that sense of connection.

In short, more remote workers appear to be approaching their jobs with “a gig-worker mentality,” fulfilling the basic responsibilities of the role rather than anticipating the broader needs of their team or company, said Jim Harter, chief workplace scientist at Gallup, which has tracked worker engagement since 2000. Most professional roles, he points out, tacitly include expectations that go beyond the actual work, such as mentoring others or spurring innovation.

“That’s much more likely to happen if they feel they’re part of something significant,” he said.

Despite the lack of connection, the Gallup survey showed 38% of people who work remotely full- or part-time are engaged, or enthused about their work, compared with 34% of in-office workers.

The conflicting metrics show bosses don’t have any easy answers as they try to provide flexible working arrangements yet fret about worker productivity. Nearly 30% of U.S. workers in remote-capable jobs work exclusively at home, according to Gallup, a share that hasn’t wavered much in the past year. One reason they score higher in Gallup’s engagement metrics than their office peers is that they say they have a clear idea of what’s expected of them.

Many managers are unsatisfied with the current setup. In a Federal Reserve Bank of New York survey of business leaders released this month, the majority said remote work helped in recruiting employees yet worsened workplace culture, team cohesion and mentorship.

“People are a little bit more prone to drift to other employment, feeling less attached to the workplace,” said Howard Liu, chair of the psychiatry department at the University of Nebraska Medical Center, where clinicians can work several days each week from home and see patients virtually.

There’s also a risk that senior faculty may not think to include junior colleagues on presentations or projects if they don’t run into them in person, Liu said. His department now plans large outdoor events each quarter and recently rolled out smaller-group meals, where about 10 colleagues—from clinicians to receptionists—sign up to eat together. The department foots the bill.

Companies are fine-tuning how they manage their remote workforces, adding more virtual check-ins and team-building activities. Some are also bringing them together physically at more critical moments in their work with their teams.

Mr. Cooper, a Dallas-based mortgage lender and servicer, introduced a “home-centric” work model last year, letting staff still mostly work at home while having them come into the office occasionally. But as mortgage rates climbed and business got tougher, the lender’s sales managers asked their teams to come in one to three days a week, said Kelly Ann Doherty, its chief administrative officer.

The managers felt on-site work would help team members learn more from each other, improve individual performance and feel more invested in the organization, she said. It’s paid off: Productivity has improved, and the teams have closed more deals since, she said.

At Microsoft, just over a quarter of teams work together in the same location, compared with 61% of them pre pandemic. The company is now using data from internal research on in-person work and employee surveys to guide managers on when it’s most effective to work face-to-face.

One early finding is that new hires who meet their manager in person in the first 90 days are more likely to ask colleagues for feedback and say they are comfortable discussing problems with managers. These workers are also more likely to say that their teammates ask them for input to inform decisions or solve problems, Microsoft said.

“Think about social connection as a battery—you need to charge that battery every once in a while,” said Dawn Klinghoffer, vice president for human-resources business insights.



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Australian shares finished higher on Tuesday, September 22, as a technology rally and lower oil prices outweighed weakness in energy companies and continued anxiety about domestic interest rates. The S&P/ASX 200 closed 25.9 points, or 0.30 per cent, higher at 8,757.8. The All Ordinaries gained 0.36 per cent to 8,951.0, while the All Technology index …

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Australian shares finished higher on Tuesday, September 22, as a technology rally and lower oil prices outweighed weakness in energy companies and continued anxiety about domestic interest rates.

The S&P/ASX 200 closed 25.9 points, or 0.30 per cent, higher at 8,757.8. The All Ordinaries gained 0.36 per cent to 8,951.0, while the All Technology index rose 1.71 per cent.

Information technology was the strongest major sector, up 2.67 per cent. Megaport gained 4.3 per cent, NextDC rose 3.8 per cent and Life360 added 2.9 per cent, according to the ABC’s closing market report. The move followed a record Nasdaq close and reflected renewed demand for growth assets as oil prices eased.

Consumer discretionary gained 1.29 per cent, while real estate and healthcare each rose 0.76 per cent. The simultaneous strength of technology, discretionary shares and listed property was consistent with a modest easing in market inflation anxiety, although it did not erase expectations of a possible RBA increase at the 29 September meeting.

Energy was the clear laggard, down 1.16 per cent, after Brent crude briefly fell below US$100 a barrel overnight. Origin Energy dropped about 4 per cent, Woodside lost 2.4 per cent and AGL declined 2.3 per cent. Utilities were the weakest sector overall, down 2.03 per cent.

Among larger and liquid movers, Telix Pharmaceuticals rebounded 6.85 per cent after the previous session’s sharp acquisition-related decline. IDP Education jumped 20.67 per cent and was the largest percentage gainer in the ASX 300 screen, while Catalyst Metals fell 14.37 per cent. Those moves should be checked against company announcements before publication; percentage rankings alone do not establish cause or index impact.

Mining performance was mixed. Sunrise Energy Metals rose 12.71 per cent, FireFly Metals added 5.7 per cent and Bellevue Gold gained 4.8 per cent, while Resolute Mining lost 4.44 per cent.

The Australian dollar traded near US71.18 cents late in the session. Oil remained volatile as markets assessed potential US–Iran talks, making energy prices a continuing input into inflation expectations, bond yields and the RBA outlook.

For Wednesday, investors will watch oil, offshore technology leads, Australian bond yields and any new evidence that changes the probability of a September rate rise.

Market dashboard

S&P/ASX 200: 8,757.8, up 25.9 points or 0.30 per cent.

All Ordinaries: 8,951.0, up 0.36 per cent.

Best sector: Information Technology, up 2.67 per cent.

Weakest sector: Utilities, down 2.03 per cent. Energy fell 1.16 per cent.

Material winner: Telix Pharmaceuticals, up 6.85 per cent. Megaport rose 4.3 per cent and NextDC rose 3.8 per cent.

Material loser: Origin Energy, down about 4 per cent. Woodside fell 2.4 per cent.

ASX 300 percentage leader: IDP Education, up 20.67 per cent. Confirm announcement context before publication.

ASX 300 percentage laggard: Catalyst Metals, down 14.37 per cent. Confirm announcement context before publication.

AUD/USD: Approximately US$0.7118 late in the session.

Next catalyst: RBA policy decision on 29 September, oil-price volatility and offshore technology trading.

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