You don't need to look too deeply for motivation. The Ford model went along the lines, "...make a product that employees will buy...". Banks have money tied up in commercial real estate and clients who are invested in property.
It is bad optics to have a company that makes money when buildings are occupied letting their employees un-occupy their own buildings.
Of course, this is BS, the End is Near. CRE is going to metamorphose into something different - just like the rest of us.
Executive Points:
- A recent decision by a new CEO to halt remote work sparked a backlash among employees, underlining the shift in expectations regarding workplace flexibility.
- Despite pushback from employees, certain sectors like banking continue to advocate for in-person work, arguing it fosters a career-oriented mindset.
- The tug-of-war between employers and employees over remote work indicates a changing landscape, with the possibility of companies losing talent if they don't adapt to new norms.
In the wake of the COVID-19 pandemic, the world of work has undergone a seismic shift. Employees across various industries have adjusted to the flexibility and convenience of remote work, and many are not eager to relinquish these newfound benefits. This change in attitude has created tension as some companies, like Morgan Stanley, attempt to bring their workforce back into the office.
James Gorman, CEO of Morgan Stanley, recently made headlines when he declared that remote work is "not an employee choice," sparking a backlash among his staff. Gorman's stance has been unambiguous: he expects his employees to be in the office at least three to four days a week, regardless of their personal preferences.
However, Gorman's firm stand on the issue does not necessarily reflect a one-size-fits-all approach. He acknowledges that the specifics of an employee's role can affect the feasibility of remote work. "Five days in the office for everybody is not going to happen again," he admitted, indicating a degree of flexibility in his otherwise firm stance.
Gorman has been vocal about his preference for in-office work since the summer of 2021, and he voiced his disappointment when employees did not return to the office by September of that year as he had hoped. But the resurgence of the pandemic, particularly the Omicron variant, forced many companies, including Morgan Stanley, to adjust their timelines and expectations for a return to in-person work.
Despite these setbacks, Gorman has continued to push for a return to the office in 2022. He noted that many employees had adopted a "Jobland" mindset, showing up to work to perform their tasks, versus a "Careerland" mindset, where they learn and develop skills through in-person interactions.
Banks, in general, have been among the most aggressive in pushing for in-person work. However, despite these efforts, office attendance at banks like Goldman Sachs is still below pre-pandemic levels, highlighting the challenges of reinstating a fully in-person work model.
This tension between employers and employees over the future of remote work is reflective of broader shifts in the corporate landscape. As companies grapple with these changes, the ultimate outcome may be a compromise that combines the benefits of both remote and in-office work.
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Table of References:
| Source | Date |
|---|---|
| www.wsj.com | Unknown |
| fortune.com | 2023-01-21 |
LinkedIn Post Introduction: In a world transformed by the pandemic, the tug-of-war between remote work and office work is intensifying. A new CEO's attempt to mandate office work met with strong resistance, highlighting the changing expectations of today's workforce. As the debate continues, one thing is clear: the future of work is flexible.
Keyword List: Remote work, in-person work, workplace flexibility, employee revolt, CEO, James Gorman, Morgan Stanley, office attendance, post-pandemic, corporate landscape, future of work, Jobland, Career
Image Prompt: A split-screen image showing on one side a bustling office space with employees at desks, in meetings, and interacting around water coolers; and on the other side, a home office setup with a laptop, a coffee mug, and a comfortable chair in a quiet room.
Search Question: What are the benefits and drawbacks of remote work from the perspective of both employees and employers?
Summary: In the wake of the pandemic, remote work has become a new normal, with employees across various industries expressing their desire to retain this flexibility. The recent decision by a new CEO to mandate office work resulted in an employee revolt, demonstrating the strength of these new expectations. The CEO, James Gorman of Morgan Stanley, made clear that remote work is "not an employee choice", a viewpoint that has received mixed reactions.
While some sectors like banking insist on the necessity of in-person work, others have embraced the trend towards remote work. Banks have been particularly aggressive in advocating for in-person work, but the progress has been slow, with office attendance still significantly lower than pre-pandemic levels. This ongoing debate marks a significant shift in the corporate landscape, with the risk of companies losing talent if they fail to adapt to the new norms of workplace flexibility.
If you can work remotely from the suburbs of chicago or San Jose, you can work remotely from the Suburbs of Toronto or London for 30% less. Or from the suburbs of Guatemala City or Warsaw for 50% less, or from the suburbs of Bangalore for 80% less.
ReplyDeleteIf locality has no value to the employee, why should it have value for the Company?