The financial services industry is divided on how to return to the office following the pandemic, according to a recent survey.
Seventy percent of top executives in the industry believe that employees should come to the office at least three days a week — once Covid-19 isn’t a major threat, PwC found in a recent survey, according to FA-IQ sister publication Ignites.
Employees, however, think otherwise: Only 20% believe they should come in at least three times a week, and 30% say they would telecommute every day if they were allowed, the publication writes, citing PwC’s survey.
Moreover, remote work may be a new reality for most companies: Only 2% of employees would even want to work for a firm that doesn’t offer remote work as an option, PwC says, according to Ignites.
PwC surveyed close to 60 executives, of whom 59% were in the C-suite, and 150 employees of U.S. financial services firms. The survey was fielded in November and December.
Several Wall Street chiefs last year expressed concern about continued telework arrangements.
Morgan Stanley CEO James Gorman, for example, said in October that he believes “the office is important for mentoring, development, socialization, creativity, brainstorming — all the things you do together with others,” although he also signaled that companies can be more flexible about the way offices work. The month prior, JPMorgan CEO Jamie Dimon said the company found a drop in its employees’ productivity when they work from home, while UBS Group's then-CEO Sergio Ermotti said that telework arrangements make it difficult to maintain the firm’s corporate culture.
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