One year into the pandemic, it is clear that our personal and business lives have changed in so many ways, some of which will become permanent. We were forced to step out of our comfort zones, and what became a new comfort zone for many is about to change again, this time in a positive way. We are almost there.
Over the recent months, PondelWilkinson conducted an anecdotal survey among those with whom we regularly interface – corporate executives, analysts, business journalists, investors, among others. We asked about comfort zones and life changes.
Sans reciting statistics, here are some random thoughts of what we learned, in no particular order:
- Most people are working odder and longer hours from their home offices, but with generally less stress.
- We are seeing our clients much more often, albeit not in person.
- Productivity has improved significantly, with no more time wasted on daily commuting and out-of-town business trips.
- Zoom fatigue is far less taxing than jet lag fatigue.
- Lunch times have gone to about 15-20 minutes from about 45 to 60 minutes, and to a feeling of almost being free from an average daily spend of about $15.
- It ispossible to complete financings, including IPOs, 100 percent virtually.
- It is possible to do a non-deal-road show in one’s pajama bottoms. “I will never do an old-style road show again,” quipped more than one CEO and CFO.
- Activist investors built foothold positions during the early pandemic stages when valuations tanked. Today, those investors are beginning to flex their muscles and raise their voices.
- Retail investors, with more time on their hands, are investing more and taking up more of management’s time.
- A new investor spotlight is shining on ESG considerations, and companies need to pay attention.
- Many annual meetings will remain virtual from now on. Chocolate chip cookies at those meetings are pleasures of the past.
- M&A transactions came to a halt, but they are roaring back.
- Fewer cocktails are being consumed. Huh?
Most respondents said we are “almost there,” meaning back to some degree of normalcy. But most believe that a majority of the populace will continue to wear masks for years to come, particularly on airplanes and in group meetings, and certainly for the remainder of 2021.
About stepping out of one’s comfort zone, my therapist wife is an advocate of doing so purposely, especially in times like these. While there has been no choice about accepting changed routines, she believes it is critical to proactively embrace them, along with seeking new challenges. More than that, she says, “It is proven that those who regularly step outside their comfort zones become more emotionally resilient and creative and hold distinct cognitive advantages over those who do not.”
Aside from working at home, I recently stepped out of my comfort zone in a number of ways. I have become a bird photographer on early morning jogs. I now bring out the garbage without being asked to do so, almost every day. I help with the dishes, almost regularly. And sometimes, I even surprise my wife by making the bed … a tip for which I must give credit to our long-time corporate counsel, Gary Freedman.
“Increasing the number of tasks one can handle and doing altogether new things propels personal and professional development,” Fay Pondel says. “Getting comfortable with being uncomfortable stimulates innovation. Embracing the unnervingly unfamiliar opens oneself to accomplishing more than ever dreamed possible and leverages untapped potential.”
Are we back to normal yet? Almost.
Roger Pondel, firstname.lastname@example.org