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April showers bring May flowers… but Covid discontent seems to continue to gather momentum despite the cheery tones of prime minister Boris Johnson’s return to the helm. This week’s mallowstreet week looks at the week that was, to understand why the gloom hasn’t shifted with his claim that we are past the peak.
In this week’s edition:
- How deep is your recession?
- Making your home work
How deep is your recession?
We begin with mallowstreet’s weekly COVID-Concern index which has seen an 18% spike in users showing concern around issues in their professional life. The economic impact of the lockdown is not only hurting short-term prospects of recovery but causing many to think that the road to recovery will be long.
The length of expected macro effects in months continues to rise and with it worry that we are shaping up for a downturn larger and more severe than 2008. The impending economic fallout has seen two posts reach the mallowstreet Top 10 this week. It is almost universally expected that we are heading towards recession. So the questions are not if but how deep the recession will be and how well prepared pension funds are to deal with the current market. Have a read and let us know your thoughts.
- Prepare for a Deep Recession
- Why most UK pension schemes had too much risk going into the Covid-19 crisis
Take part in this week’s research - please click here to take our short weekly COVID Concern survey.
Making your home work
Another continuing trend within the community is getting to grips with the new norm of working from home during the lockdown. Andy Lopata is one of the many who is potentially seeing the novelty of working from home beginning to wear off. He is joined in this great video by a collection of industry leaders to discuss the perils and joys of remote working and supporting employees.
The new norm is also having other implications for trustees. Michael Clark’s “What four lessons have pension trustees learned working in a Covid-19 world?” offers some insight into how much has changed for us all. mallowstreet’s editor, Sandra Wolf, has asked, “Will this crisis be the catalyst for more digital member comms?”
It is important to think beyond our own desk/kitchen top/dining room table/shed and evaluate our collective situation. Can digital become more intrinsic in how we interact with members? What parts of your role do you think will be better if digitised? How many meetings should be replaced by emails? How can these impact your members for the better?
We held our first Digital Summit this week, which I was privileged to be a part of. Meeting face-to-face and interacting with one’s peers is at the heart of all of mallowstreet’s events. It was delightful to see that although we could not all attend in person, the delegates, partners and mallowstreet team were able to come together and recreate that buzz for all who joined in. Thank you to all of our partners, delegates and speakers who made it such a special online summit.