Future of Work News

Banking Giants Reinstate Remote Work After COVID Resurgence


If you thought 2022 would be the year the world finally forgets about the coronavirus, sadly, you’d be wrong. The New Year kicked off only a few days ago, but feels like 2020 all over again as organizations implement new distancing measures to fight off the omicron variant.

According to a recent article by the New York Times, leaders in the finance world are requesting eligible employees to work remotely for a few weeks, in order to prevent spreading between co-workers during the height of the outbreak. Over the weekend, executives at Goldman Sachs asked office employees to work from home for the first two weeks of 2022. Wells Fargo and Citigroup implemented similar measures, with leaders asking employees to continue working outside of the office until the resurgence settles down.

Although almost every banking institution is embracing remote activity as a safety precaution, some are firm in their position to transition back to normal office operations in the near future. In particular, JPMorgan Chase executives recently told employees they would be able to work remotely for the first two weeks of 2022. However, the company still intends to move forward with its original plan to bring vaccinated employees back to the office by February 1st.

The success of remote work over the last two years brings up some questions about why some executives are in a hurry to bring employees back to the office. Some may debate whether the omicron variant is less severe than the original coronavirus, but scientists still have not had enough time to study the virus to truly understand it. Because of this lack of understanding, business leaders should be realistic and overly cautious about bringing coworkers together too quickly.

Business leaders now know remote activity can be just as productive as in-office work, so banks with the technological resources and infrastructure should allow employees to work in remote locations indefinitely as a guarantee of safety. The world is growing tired of pandemic conditions, but if spreading and mutations continue, it simply means the pandemic will go on longer. If some executives eventually want to get back to the office, utilizing remote activity until the virus settles down is the solution.

Edited by Maurice Nagle

Future of Work Contributor

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