Monocle’s final print launch of 2021, our Winter Newspaper, is hitting newsstands and finding its way to letterboxes this weekend. Inside you’ll find interviews, last-minute gift ideas, recipes and essays, all to keep you entertained between runs down the slope or in that quiet moment when the relatives have left and tranquility returns to your household. Below is a little excerpt from our business pages. You’ll note that the latest variant has changed some of the measures around international travel but you should get the idea.
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Do any of these stolen snippets sound familiar?
“I really wanted to go and see that exhibition in Paris with some of our clients but our company has a travel ban so we can’t.”
“We just sponsored a major new sports facility and I was looking forward to being there for the launch but our company has slashed travel budgets for the coming year and I couldn’t attend.”
“At this time of year we’re usually out on the road doing a benchmarking and competitive set tour but our CEO has told us we now need to do it from our desks.”
If you’ve found yourself on the receiving end of an array of new corporate travel and communication policies that demand you stay at home, only meet clients virtually and don’t dare think about getting on a train or plane, how do you feel about it? If you’re one of the departments or leaders that helped to implement these policies, how are you feeling as you look across the next year? Are you doing it because everyone else in your sector is doing it and you’re afraid of being shamed? Are you happy that your staff are all working from home and fulfilling their job descriptions via video conferences? Are you a little tempted to suddenly drop the no-travel policy and set your brightest and hungriest staff loose? If not, you should be.
As this newspaper was starting to take shape I boarded a Finnair flight from Zürich. My destination was Seoul via Helsinki. Since the start of the pandemic I’ve been monitoring Monocle’s key Asian markets to see which would move first in terms of opening their borders for business. At the start of November, South Korea shifted to a “living with coronavirus” policy, in stark contrast to the approach of China, Taiwan and even Japan. It means that business travellers can apply for a quarantine waiver, take a PCR test on arrival and, if the result is negative, freely hit the streets. It wasn’t until the A350 was rolling down the runway that I even considered what might happen if my test was positive, aside from how 10 days of quarantine at the Four Seasons Hotel Seoul would be pricey. Fortunately, all was fine and, with my colleague Guido, I blitzed the South Korean capital over three days of intense meetings, scouting, shopping and visual stimulation.
At companies big and small we were warmly welcomed. Once drinks had been served and cards exchanged, most meetings started with either, “It’s so wonderful to see you again,” or, “Thank you for making the effort to fly in to see us. You’re the first clients we’ve seen from outside South Korea in nearly two years.” When I heard this at a major electronics company (which could I possibly be talking about?) at the start of my trip, I assumed that it was just a polite form of greeting. But as the days passed, it became clear that we were taking on the status of exotic European explorers, re-establishing relationships with forgotten outposts.
“What’s it like, flying long haul? How was it entering our country? Is everyone travelling around Europe with ease? Where will you go next?” Aside from the curiosity about the outside world, every meeting revealed the power of human connection, the ease and efficiency that comes with being in the same space, and the advantages of stepping away from a screen and being able to take over a room with gestures and physical products, and to read an entire boardroom table in an instant. It’s the power that comes with being in the moment that too many corporations are dismissing as they seek to cut costs and avoid risk.
A CEO in the travel sector summed up this attitude more succinctly. “All of those companies that are banning travel and think they can manage relationships digitally after the pandemic has run its course are foolish,” he said. “We can already see that smart entrepreneurs are getting out in the world and cutting ahead of corporates who once might have owned a relationship.” Over an extended lunch he went on to suggest that this collective decision to not be out in the world could be the undoing of many corporations as more nimble, owner-operated businesses show up in person for presentations and employ the tried-and-tested sales tactics of showmanship, offering gifts that fall just below corporate compliance thresholds, post-meeting drinks, a jolly dinner and maybe even a round of singing.
All of this begs the question, how will you do business in 2022? If you’re feeling constrained by restrictions from on high, will you raise your concerns at the next company town hall or will you go along with the narrative that sitting at home is better for the environment and travelling is over-rated, exhausting and an unnecessary expense? If you’re the author of such policies, what will you tell shareholders when more agile companies steal big accounts and land huge contracts? For many businesses, an abundance of caution might prove more deadly than the pandemic.
Read more on business trends for the coming year, as well as culture, fashion and politics, in Monocle’s Winter Newspaper, which is out now.