Two years ago, Gil Mandelzis, CEO of Capitolis, announced a bold decision for the staff to return to full-time office work in their New York and London locations. Despite the decision’s unpopularity and potential disagreement from some quarters, the company leader has maintained that the move has proven beneficial over time. Tech and financial giants, like Goldman Sachs, Amazon, and JPMorgan Chase, have similarly championed a return-to-office policy. While acknowledging that not all companies might follow the same path, Mandelzis emphasizes that physical proximity fosters better collaboration.
Capitolis experiences some recruitment challenges due to its policy, which is clearly aligned with its company values that the organization might not fit everyone. Nevertheless, with over 150 employees, the company continues to grow and attract candidates who value in-person work. Mandelzis upholds that the business’s growth, productivity, and low employee turnover indicate the success of this approach.
Implementing a full-time return to the office was not without challenges, with some questioning the trust the company had in its employees’ remote work capabilities during the pandemic. Concerns were also raised about potentially failing to attract younger generations who prioritize work-life balance and flexibility. However, the decision-makers at Capitolis carefully considered these arguments but ultimately concluded that remote work did not align with the company’s ambitions.
Mandelzis highlights the importance of in-person interactions for learning and team building, which virtual meetings cannot replicate. He believes that face-to-face encounters lead to spontaneous idea generation and foster mentorships organically. During the pandemic, while remote work was necessary, many firms, including Capitolis, observed increased work hours but declining productivity and networking, emphasizing the value of shared physical space in maximizing potential.
Capitolis supports flexible arrangements for parents attending to family commitments, a policy in place long before the notion of hybrid work became widespread. However, the company’s leadership stresses the need for regular in-office presence to ensure effective collaboration and accountability.
In a message to other leaders, Mandelzis encourages pursuing in-office work models if deemed suitable for their teams, despite potential talent attrition. He argues that finding the right people who align with the company’s values will strengthen the organization and ultimately improve performance. This strategy appears to be working well for Capitolis.
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