JPMorgan employees have formed a WhatsApp group to discuss concerns about the bank’s new return-to-office (RTO) policy, according to Business Insider. Nearly 100 employees have joined the group after the bank announced in January that hybrid workers must return to the office five days a week. The policy officially took effect on March 3.
The banking giant is requiring employees to return to in-person work five days a week starting this March, ending remote work options that remained after pandemic restrictions.
The US’s largest bank, which has some 316,000 employees worldwide, announced on Friday that all workers on hybrid work schedules will be required to return to the office five days a week from March.
Employees Express Concerns Over Strict Monitoring
Many employees are anxious about how the policy will impact their performance evaluations and job security. Some fear that the attendance tracking system may not accurately reflect their productivity, putting them at risk of losing their jobs. Others believe the monitoring methods are too strict and fail to account for tasks that take time to materialize.
A software engineer at JPMorgan told Business Insider, “It’s impossible to measure productivity on a minute-by-minute basis. A lot of our work involves communication, learning, and planning, which cannot be quantified instantly.”
Uncertainty Over Office Infrastructure and Policy Implementation
JPMorgan already uses a tracking tool called Workplace Activity Data Utility (WADU) to monitor employee productivity and working hours. However, employees are concerned about how the RTO policy will be implemented, particularly in offices with limited desks, parking spaces, or conference rooms.
CEO Jamie Dimon’s Stand on Return-to-Office
JPMorgan’s CEO, Jamie Dimon, pushed for the return-to-office policy after noticing that some employees were inattentive during Zoom meetings. He argued that working from the office enhances efficiency and creativity.
During a staff meeting, Dimon dismissed employee concerns about remote work, stating, “Don’t waste time on it. I don’t care how many people sign that petition [requesting hybrid work].”
The policy has sparked concern among JPMorgan’s technology workforce, with some employees reportedly considering leaving. With a $17 billion IT budget and nearly 60,000 technology workers, the bank faces potential talent retention challenges as competitors like Citigroup maintain hybrid work options.
