Strategy talent’s return to the office

Covid-19 is still affecting the workplace in 2023, but many of the rules and regulations implemented at its peak have changed significantly. After two years of clocking into “remote-only” or “remote-first” environments, the way we work is still under development – especially for corporate strategists.

Why corporations want their strategy teams in the office

As companies across corporate America asked workers to return to the office in 2022, we witnessed a large portion of the workforce insist on staying remote. But according to a report from Microsoft, around 50% of leaders say their company already requires or is planning to require employees to return to in-person work full-time over the next year.

So, what’s causing this tug of war? For corporate strategy teams specifically, we see three main benefits for being back in the office: 1) exposure to senior leadership, 2) mentorship opportunities and 3) future opportunities.

Corporate strategy teams typically partner with functional leaders and/or C-suite executives on strategic projects that are critical to the future success of their organization. Often, these leaders are in the office for at least part of the week. Without some amount of office time themselves, corporate strategy team members of all levels risk missing out on critical exposure to high-level executives.

As an example, we recently placed a top-tier consultant two years out of undergrad onto a newly created corporate strategy team. Just days after starting the job, they were pulled into an in-person leadership meeting with their new CEO and CFO. This type of exposure is too important to miss out on, and it’s very unlikely that an off-the-cusp meeting would’ve happened without being in the office.

One comment we often hear from consultants thinking about a transition to corporate America is “I don’t want to be the smartest person in the room.” Personal and professional development is a key decision-making criterion for individuals undergoing a career transition. Corporate strategy teams historically have done a great job of furthering individuals’ growth through learning programs, mentorship and on-the-job training, which aren’t impossible to do remotely; however, most teams push for an element of in-person work to ensure these opportunities are as robust as possible.

Lastly, because of the exposure strategy teams have to senior leadership, it naturally opens a lot of doors within the business. For many of our candidates, this can be a huge selling point when thinking about a career move. The challenge when you are considering a remote strategy job is that a lot of general manager, profit and loss or functional leadership roles require at least an element of in-person work. Because of this, individuals may not have the same long-term opportunities as fully in-person team members unless they’re in the office for at least part of the week.

Bridging the gap between remote-only workers and in-office companies

LinkedIn recently stated that remote positions now account for only 14% of all job postings, but a large percentage of workers still want to work from home. There are valid arguments for both work models, even as the Covid-19 pandemic becomes less of a daily concern.

After transitioning to remote work, many people realized they were missing out on valuable time with friends and family during their commutes and spending too much money on travel costs between their home and the office. According to a new study by the National Bureau of Economic Research, remote work saved commuters an average of 72 minutes per day over the past two years. A lot of that saved time was then funneled into work, undermining arguments that suggest working from home encourages employees to slack off.

But even with the benefit of not having to commute, fully remote employees struggle with team building, technology and scheduling. A major benefit of working alongside your team in an office is the ability to forge meaningful connections and easily collaborate without having to find dedicated time on each other’s calendars. Additionally, online meeting platforms are not perfect, and critical meetings risk technology-caused interruptions.

Over time, the hybrid work model has proven itself as the best solution to these issues and has become standard practice in many industries – including strategy. This work model satisfies most of everyone’s needs; workers are present for important meetings with senior leadership and their broader teams, but they can also stay home while completing independent work.

The takeaway

While the last few years have taught us that many people can do their jobs 100% from home, certain industries need people back in the office for at least part of the week. Because of this, strategy professionals who are actively pursuing new roles should be aware that requesting remote work status will significantly limit their career search. Similarly, firms mandating five days of in-office work every week will have to hire from smaller talent pools.

While you must do what works best for you or your company, recognizing the pros and cons of all work models upfront is critical to landing a new role and recruiting top strategy talent.