The Future Fintech Workspace: Bye Bye Hot Desking, Hello Walking Pads?

Could you imagine working in an office where you wear a small laptop that tracks your brain activity, records your energy level and attention span so your boss can monitor it when it’s convenient.

Imagine sensors detecting your stress level and playing personalized music to combat anxiety as you move around the office, creating a unique “bio-soundscape” that accompanies you throughout the day.

While the fintech world may not have fully embraced these arguably Orwellian offices of the future, the fintech workplace is undoubtedly in a state of flux.

Covid and the resulting change in work dynamics combined with a yearning to be ahead of the curve has meant that fintechs are at the forefront of testing and trialling different workplace designs when they look to create a mood pitch perfect for creating eureka moments.

Fintech Times has polled fintechs to find out about their workplace setup and how they see the future of the workplace.

Is hot desking dead?

Hot desking, once the cornerstone of disruptive businesses, doesn’t get a universal thumbs up in fintech.

Tim Chong, co-founder and CEO of Over there, A credit card startup that began life with a team of seven in a “small” co-working space says it has moved away from hot-desking.

“Each employee has a seat that is chosen so that teams can communicate with each other as easily as possible,” says Chong. “However, we have ensured that we have break and work spaces throughout the office to give staff the opportunity to work elsewhere if they wish.

“Small things like the way screens or desk dividers are set up can have a small impact on how people communicate with each other that all stack up. We’ve put a lot of thought into how we arrange our team in the office, with our primary goal being to ensure that teams can collaborate with minimal friction.”

Chong says one of the dangers of hot desking is that it can affect productivity.

“If someone comes into the office and can’t find a place to work that suits them, we really think that can have an impact on how well they feel they can work that day.”

Another fan of the allocated desk is the blockchain company Quant.

Phil Ashton, Quant’s HR manager says: “We’ve had feedback from team members that they like having an allocated desk space to work from when they’re in the office. This reduces the need for team members to move their personal belongings every time they are in the office.”

“The most important aspect of work is having the right work environment to get things done.”

Fans of hot desking

However, companies have not yet thrown hot desking in the office trash.

Mariola Sokolowska, head of talent management at Moneyfarmsays: “At Moneyfarm, no desk is assigned and our employees can book a place through a user-friendly app before they arrive at the office.

“The office is equipped with office chairs and desks where monitors are available to our employees, but there are also comfortable sofas and duffel bags, which convey a sense of homeliness, and a large kitchen table around which the teams can eat lunch together.”

The biggest advantage of the seating policy, says Sokolowska, is the “freedom of choice” it gives employees. “They can work at a standing desk if they prefer, then move to a comfortable sofa to have a catch-up with their teammates.”

Lillian BautistaChief People Officer & COO, corporate lender Oak North, says: “Hot desking is a great way for teams to maintain flexibility in how they work and who they work with on any given day. We also offer standing desks for those who request it, as well as lounge areas, collaboration spaces and even a barista bar , which has been great for impromptu meetings or casual meetings.”

On Berlin-based living money, hot desking is the norm and “Vividians” have the freedom to choose where they sit.

“We particularly want to encourage exchanges between teams,” says a Vivid Money spokesperson. “Legal sits and talks together technology teams, PR and communications join the developers – with that we can work more closely together and understand how others work much better.”

A spokesperson for Starling said: “Starling staff have hot desks and can order desks, all with sit-down or stand-up functionality, using a virtual floor plan. In addition to desks, we have small private booths and breakout areas across our offices.”

Senior managers mingle with employees

How can fintech executives actively engage with employees? Do they sit in royal splendor in their own offices, away from the collaborative beanbags, hammocks and brainstorming sessions?

Chong says: “It’s very important to us that there is no overriding sense of hierarchy at Yonder. There is zero separation on our desk between senior management and the rest of the team, which is a reflection of how we run the business as well.”

Younder’s policy seems to be the norm, with an absence of hierarchy in fintechs Fintech Times spoke to.

Sokolowska says such a non-hierarchical melting pot promotes “good team bonding and helps exchange ideas, improve collaboration, share knowledge and even jokes from time to time”.

At Quant, Ashton says the senior leadership team “enjoys” sitting with their teams. “We further encourage opportunities for our teams to spend time with our senior leadership team at our quarterly town hall events.”

Starling says that the senior management of Staring sits inside with employees creating the “ultimate open door policy”.

The offices of the future

And how do these fintechs see the office of the future?

Chong says the focus on mental health will only become more pronounced in the future. “Protecting our physical and mental health at work will only become more important in the future,” he says. “Walking pads and under-desk bikes are already a thing, so I imagine it’s just the beginning of the new technology that encourages movement at work in the not-so-distant future.”

Sokolowski says, “In terms of trends, we’re seeing more and more people prefer not to sit at one desk all day, so we’ll continue to vary the options available depending on need.”

Like Chong, Asthon says mental health will be a key determinant of the future of the office workplace. “I expect there will be continued development of ‘hub’ open office locations, where the office is a central place for team members to come together to collaborate, connect, brainstorm and socialize.

“The positive momentum of employee mental and physical well-being will continue to be a key part of how organizations consider physical space and their overall employee value proposition.”

Bautista adds, “The most important thing about work is having the right work environment to get things done. Sometimes that means you need quiet, focused space for independent work and deep thinking. Other times, that means you need a collaborative, exciting space for team brainstorming and whiteboarding so that innovation can thrive.

“And sometimes you have to get out of the office and have a walking meeting with a colleague. Companies that offer these diverse and inclusive environments will be the ones that don’t need to force people back into the office – their employees will want to come in.”