Quarantine vs. Hibernation: Promoting Engagement & Productivity during COVID
Written by Sam Follit, Director, in collaboration with Fiona Weeks, Senior Associate, and Mia Jung, Partner at Oxeon Partners
Photo credit: https://writix.co.uk/
We’re optimistic that in the years ahead, we’ll look back on this time of social distancing, forced isolation, and economic uncertainty with valuable lessons learned that will last a lifetime and transform the healthcare industry. Beyond the call to action to #StayHome and wash your hands!, we’re already seeing tremendous market opportunity: healthcare businesses who have doubled down on the promise and potential of value based care, who have made investments to address patient health and wellbeing outside of the exam room -- whether it be through telemedicine, coaching, or social support -- are thriving.
When there is volatility in the market, there are two typical responses: take stock and be conservative - eliminate spend, or buy into it; set your sights on the clients, talent, and network who may suddenly be willing to do a deal. This creates an incredible paradox for the talent market; we have clients who are dually tightening their belts with the hope to eliminate any near term superfluous costs, while others are viewing this time as an opportunity to live their core values, go the extra mile on employee engagement, and recruit in top talent that may have otherwise been hard to access.
Oxeon Partners is uniquely positioned, a nucleus of sorts, with a birds-eye view into 60 healthcare companies at once, in addition to our own portfolio companies and investment partners. In the past 3 weeks, we’ve spent time with CEOs, Heads of Talent, Operating Partners and Investors talking through tips, tricks, and challenges faced by businesses large and small. Below is a snapshot of what some of the best minds in healthcare tech and services are doing during this time to engage their workforce and promote productivity.
On Engagement:
Leaders need to Lead: frequent and concise communication from the top, and additional support to mid-level managers is critical.
We’re seeing our clients’ Founders/CEOs implement Weekly Communications, either by email, or video enabled town halls, addressing the state of the world, the state of the business, and most impactfully, good news and wins.
Prioritization is more important than ever. Employees have more on their minds and having clarity on team and individual priorities can help eliminate distractions and drive teams to focus their energy first on top value drivers for the business.
Now is the time to call upon your Core Values particularly as a healthcare business leader; if you are not tying these values back to your mission for employees and customers, add that to the list of revisions once this whole thing is over.
Mid-Level managers are responsible for distilling and customizing the company-wide message to their direct reports. Establish a forum for real-time ‘people leader’ communications (Slack!) and set up weekly all manager meetings.
Employees need to feel supported: whether it be mental health, juggling work with caregiving obligations, or adjusting to a new environment, give your teams as many options as you can.
We are big fans of Life Labs Learning at Oxeon, and find their resources to be concise, practical, and useful. Their Complete Remote Work Playbook should be printed and framed by every business leader and employee.
Helpr and Winnie are apps that may be particularly helpful for families of essential workers. Helpr has an “Out-of-network” feature that allows families to add their own care providers to the platform and manage backup care subsidies from their employers, while Winnie has launched a portal for parents to find emergency child care with immediate openings.
Hive Learning concentrates on connectedness, social learning/sharing best practices, mental health and resilience strategies; as people need people more than ever in the times ahead.
Bravely is an incredible platform connecting employees to on-demand professional coaching in the key moments that define the employee experience. By scaling equitable access to confidential guidance and timely skill development, Bravely empowers employees at every level to do their best work and thrive in their roles.
Engage your Clinical Staff: if you work in healthcare you likely have clinicians within your organizations. This is the time to give these folks a platform to answer questions, dispel myths, and serve as trusted resources. This is also the time to applaud every single person within your organization who contributes to care delivery and safety nationwide.
Outline your business protocol that enables physicians who can serve on the front lines of care delivery to do so; even if this is at the sacrifice of productivity within your business, it's crucial to your organization's credibility and commitment to a broader delivery system.
Carve out time during all-company meetings where clinical leaders can provide their perspective on health, wellness, and safety; give your in-house experts a platform to dispel myths and highlight good news stories.
On Productivity:
Retrofitting a home work environment: it’s a rarity that your workforce has an identical setup at home to that which they have at the office. Toeing the line between dial-up internet and Oprah’s Giveaways requires thoughtful spending. Here’s what we’ve seen:
Stipends to bump up internet speed, home computer monitors, chairs and headsets; $200-$300 if company economics support it .
We spoke to one company who is offering $50/month for employee cell phone bills for the remainder of the remote-work period.
Company-wide emergency care stipends for childcare, many organizations who previously didn’t offer this benefit have added benefits ranging from $300-$1,000/month.
Adoption of Video Conferencing capabilities: we all know how nice it is to multitask during a conference call. Incorporating the visual aspect forces attention, engagement, and hopefully most importantly, connection across team members.
Flexible Work Schedules: With so many variables changing and education, meal prep, and child care for little ones suddenly unaided, some individuals and teams may benefit from (and their work may be improved by) flexible working schedules.
Consider adapting alternative hours outside of a 9 to 5 day, or alternative days outside of the traditional Monday through Friday.
Enable teams to distinguish what is best for them; one organization we spoke with has their Product team working Sunday-Thursday.
Encourage Calendar Blocking/Tackling: blocking breaks throughout the day, and earmarking ‘heads down’ time gives employees the ability to step away as appropriate without feeling the heartburn of missing a slack or email.
Transparency: Some companies are taking an approach of being ultra transparent. Where appropriate, leadership teams are showing relevant company financials and giving insight into tough decisions being made so employees feel they have the insight to process what is happening at a business level.
Caveat that these models are informed by ‘what we know now’ and will be adjusted and revised pending the duration of COVID.
We have been awestruck at the candor and willingness to share that has been evident in the conversations that informed this post. Now, more than ever, we are grateful for our healthcare community of innovators, investors, people leaders, business growers, and impact makers in the healthcare space. While we’re hoping none of what has been mentioned above is earth shattering, we didn’t want to miss the opportunity to give back - and share with our community.
If you’re looking to learn more about the content listed above, please do not hesitate to reach out to our authors: Mia Jung (mia@oxeonpartners.com) Sam Follit (Sam@oxeonpartners.com) and Fiona Weeks (Fiona@oxeonpartners.com).