State Street is one of the largest asset managers in the world. A buisness generally filled with face to face meetings and swanky offices to impress clients out of their hard earned cash.
Yet, here they are culling some premium office space. Why? No one wants to go back to work. We saw this recently with Apple and Google employing pushing back at requests to come back to the office.
Sure, working at home hasn't been ideal for everyone, but for most it's been a god-send. They're more productive, don't have to communte for hours, and some are even putting that time into healthier lifestyles.
My take on this? This is changing a lot of businesses that work for big corporates. Being in tech I'll approach this from a tech angle, but it applies for cleaning companies, catering companies etc.
It's been easy, until now, to have large corporate clients. They're all gathered in one place. We sell them fat internet pipes, on-site support and host a bunch of servers in their office. But they don't have an office anymore. Now what?
We don't have a fat internet pipe, we have dozens, hundreds, of smaller home based connections. Support isn't onsite, it's remote, team viewer, any desk. That's a big shift. Servers? All have to be shunted into the cloud, stat.
The really scary part? We're only at the beginning and we're not ready for this yet. Over at Rocking we've been working on how to solve this, and it's more complex than you'd imagine. We're watching others try, some with limited success and some with dismal failures.
No one has figured it all out yet. It's like a puzzle, all the pieces are there, but we haven't quite figured out how to put them all together so we have a good picture of what's going on.