The days of hybrid work at JPMorgan bank appear to be coming to an end, after it asked its senior employees to return to fulfill their working hours to the offices because it wants its leaders to be more visible to meet with clients.
“Our leaders play a critical role in reinforcing our culture and running our businesses,” JPMorgan Chase told staff in a memo.
“They have to be visible on the floor, they have to meet customers… and they must always be accessible for immediate comments and impromptu meetings”, the document abounds.
JPMorgan said that would maintain hybrid work options for thousands of employees who must have three days in the office.
In the memo, the bank issued a warning to employees struggling to meet that minimum.
“There are a number of employees who do not meet your attendance expectations to the office and that must change,” the note reads, adding that managers would be responsible for taking “corrective action” if employees fail to comply.
Wall Street giants like JPMorgan have been among the most notorious proponents of return to the pre-pandemic office regimebut their plans have been delayed when the new variants of COVID-19 emerged.
One of JPMorgan’s main motivations for its employees to return to the offices is that a year ago, the bank submitted a design for a new world headquarters in New York.
The 60-story skyscraper was touted as the “largest all-electric tower with zero net operating emissions” in the city.
When it opens in 2025, will have space for 14,000 employees and will provide extensive public green spaces along 49th Street and Park Avenue.
Although there is still no standard way to measure the full scope of remote work, a report from Kastle Systems, which operates magnetic card security machines, said that the average office occupancy rate weekly rate at the end of March in the most populous US cities was 49% of pre-pandemic levels.
Many of the workers have also found remote work a way of life they are not willing to give up.
According to a recent survey by recruiting firm Robert Half, one in three workers who come into the office at least one day a week are willing to earn less for the opportunity to work remotely.
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Source: La Opinion