Gloomy Prospect For Work From Home

Only A Small Percentage Of Bank Employees Will Do It

Keith Griffin

September 9, 2020

Work from Home | Image by Junjira Konsang from Pixabay

A Bloomberg financial columnist is making a bold prediction about the future of working from home for the banking industry. Unlike other financial sectors, it’s not going to happen on a grand scale.

Elisa Martinuzzi, a Bloomberg Opinion columnist covering finance, wrote in an article published in the Washington Post, that the bank of the future will see “about 10% of staff … probably always work remotely, back-office workers for example, [while] most banking employees — as many as 80% — will probably just get a bit more flexibility. This might involve working remotely for a day a week or up to a week a month.”

Martinuzzi added, “Senior managers will also be expected in the office, as will new starters, who stand to gain most from the physical proximity of colleagues. A manager may bring a young recruit into a client meeting if they’re in the office, but they’re less likely to invite a quiet observer onto a video call.”

Most of her thoughts were aimed at larger commercial banks doing trades, for example, but some of what she says could apply to community banks, as well. “For most bankers, the transition to hybrid work will be evolution not revolution. Any new-won freedom will be limited,” she wrote. “What’s more, companies will no doubt demand even greater flexibility of their employees. A further blurring of the work-home lines may damage, not improve, the work-life balance.”

Read “Bankers Hit the Limits on Working From Home.”

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