Canadian banks are increasingly mandating staff to return to offices, with Royal Bank of Canada and Bank of Nova Scotia requiring four days a week in-office. This shift reflects a growing consensus that remote work reduces productivity, undermines collaboration, and hinders talent development. However, staff resistance is noted due to shrinking office footprints and 'cubicle hotelling' practices, which diminish workspace, privacy, and focus, defeating the purpose of in-person work. The article argues that banks must provide adequate office environments to justify the return.
Opinion: Banks, if you want staff back in offices, give them proper offices to go back to
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TL;DR: Key points with love ❤️Canadian banks are increasingly mandating staff to return to offices, with Royal Bank of Canada and Bank of Nova Scotia requiring four days a week in-office. This shift reflects a growing consensus that remote work reduces productivity, undermines collaboration, and hinders talent development. However, staff resistance is noted due to shrinking office footprints and 'cubicle hotelling' practices, which diminish workspace, privacy, and focus, defeating the purpose of in-person work. The article argues that banks must provide adequate office environments to justify the return.
Trending- 1 COVID-19 era: Canadian banks embrace work-from-home mandates.
- 2 March 2023: RBC CEO Dave McKay mentions challenges of remote work.
- 3 May: Royal Bank of Canada informs staff of four-day in-office requirement by fall.
- 4 Early June: Bank of Nova Scotia issues similar edict.
- 5 Present: Other large Canadian banks (TD, BMO, CIBC, National Bank) embrace hybrid models.
- 6 Ongoing: Academic studies validate productivity drops and other issues with remote/hybrid work.
- Lower overall performance (academic studies)
- Drop in productivity (8-19%)
- Higher communication costs
- More time allocated to coordinating activities and meetings
- Reduction in uninterrupted hours of work
- Decreased networking with peers and managers
- Fewer one-on-one meetings with supervisors
- Increased average hours worked for remote employees
- Decreased training opportunities
- New employees are at a disadvantage
- Staff resistance due to shrinking office footprints and 'cubicle hotelling'
- Increased stress for staff working in the office
What: Canadian banks are implementing stricter return-to-office mandates for their employees, moving away from fully remote or hybrid models, citing productivity concerns and issues with collaboration and culture.
When: May (RBC announcement), early June (Bank of Nova Scotia announcement), March 2023 (RBC CEO's comments), 2021 (COVID-19 era memories), pre-pandemic.
Where: Canada (specifically Canadian banks' operations), offices, homes.
Why: Banks believe remote work is a 'productivity killer,' undermines common purpose, hinders effective collaboration, negatively impacts work culture, and reduces training opportunities and networking. They aim to deliver better outcomes and sustain complex, highly regulated services.
How: Banks are issuing edicts requiring staff to be in the office for a set number of days (e.g., four days a week). However, some are doing so while shrinking office footprints and implementing 'cubicle hotelling,' which is causing staff resistance.