RBC says hybrid work ‘here to stay’

Bloomberg

Royal Bank of Canada (RBC) is formulating hybrid, flexible work arrangements for its employees and doesn’t plan any “one-size-fits-all mandates” on how much time its staff will need to be in the offices when they reopen.
“We believe that flexible and hybrid work models are here to stay, and that the role of the office has forever changed,” Chief Executive Officer Dave McKay said in a post on LinkedIn. “This means we’re going to hold onto the best of what we’ve learned over the past 18 months and recapture the best of everything we’ve missed from the
pre-pandemic world.”
Decisions on working plans will be made to match employees’ “diverse everyday experiences” and their clients’ needs, with the hope of strengthening bank’s culture, encouraging collaboration and
ensuring employees feel supported, McKay said.
“Over the next few months, we’ll test and learn as we go and adjust our plans along the way,” McKay, 57, said.
“We need to get this right, and we’re confident that client and employee feedback will continue to inform our journey, and that ultimately we will emerge from this crisis even stronger.”
In contrast to Wall Street, top Bay Street executives seem to be in no hurry to end remote work. Some say the arrangement has been surprisingly efficient and profitable. Some also acknowledge that their employees have little desire to return to the office five days a week.