Australia’s top bank orders ALL 49,000 employees back to the office – and they’re not the only ones cutting home working
- Australia’s top bank has reinstated its staff
- The bank’s CEO sent an email to employees on Monday
Another of Australia’s Big Four banks has ordered staff to return to the office in a decision that shows that the Covid era of workplace flexibility is rapidly coming to an end.
Commonwealth Bank CEO Matt Comyn told his 49,000-strong workforce in an email Monday that they must be physically present at the office at least 50 percent of the time from July.
The decision follows quickly on the heels of a decision by NAB CEO Ross McEwan on April 28 that all senior staff must return five days a week.
His decision was due in part to what he said was the bank’s duty to revitalize cities and regional centers that are facing a lack of office workers.
Commonwealth Bank is the latest financial giant to advise staff to return to the office
In a statement, the Commonwealth Bank told Daily Mail Australia it was providing a “framework” for staff to return to the office
In a statement, the Commonwealth Bank told Daily Mail Australia it was providing a “framework” for staff to return to the office.
“Our approach to hybrid working has always been about striking the right balance between our longstanding commitment to flexible working and ensuring we deliver the best outcomes for our customers,” a spokeswoman said.
“In recent years we have spent time testing different working models based on our own insights, regular feedback from our people and the lessons learned from other organisations.
“Based on these experiences, we recently raised the expectation that from mid-July our people in the office will have to be in the office for at least 50 percent of their working time during the month.
“This provides individual flexibility for where work is done for half of the working month, while also recognizing the important role the workplace plays in collaboration, innovation, well-being and career advancement.”
The bank said the goal of the move is to drive innovation and collaboration with face-to-face interactions.
“We’ve learned that we actively connect with 11 other colleagues every day when we’re in the office together and spend 20 to 30 minutes more time collaborating,” CBA group human resources manager Sian Lewis previously told the Australian Financial Review.
“Our people also spend 40 percent or more of their time connecting with their leader and colleagues in the office. We have seen that innovation is a result of our people physically working together.’
Commonwealth Bank CEO Matt Comyn issued a staff memo this week
NAB CEO Ross McEwan announced last week that senior staff would be required to return to the office five days a week.
“I told the team it’s time to come back to the office for five days,” he said 9News.
“I’m one for flexibility, always have been, but we also need to make sure our people are properly trained and developed.”
Other staff will be required to increase the number of times they visit the office to a minimum of two or three days per week.
Nicole Duncan, CEO of CR Commercial Real Estate Group, supported NAB’s decision.
“I think there’s a real need for CEOs to take the lead on this,” she said.
“The younger generation, the older generation – otherwise we will run out of leaders.”