JPMorgan Chase, the largest bank in the United States, is to order all its staff to return to the office full-time, signalling the end of hybrid working policies introduced during the COVID-19 pandemic.
The move impacts the bank’s global workforce, including its approximately 22,000 employees in the UK.
The decision follows the bank’s earlier mandate in April 2023, where managing directors were required to work from the office five days a week. Many other staff members had been attending the office only three days a week. The full return to pre-pandemic attendance policies, reported by Bloomberg, is expected to be officially announced soon, though JPMorgan has declined to comment.
Impact on UK workers
In the UK, where hybrid working has become increasingly common, the shift back to full-time office work is likely to spark discussions about work-life balance and productivity. The UK workforce, which embraced remote and hybrid working during the pandemic, may find this transition challenging, say industry experts, especially in sectors where flexibility has become a valued aspect of job roles.
The move by JPMorgan — which in the UK has offices in Bournemouth, Glasgow, Edinburgh, Manchester, Leeds and Bristol — comes amid a broader trend, with companies like advertising firm WPP also tightening their remote working policies. Mark Read, WPP’s chief executive, announced a new mandate requiring staff to work in the office at least four days a week starting in April. His memo to employees emphasized that client expectations and the need for in-person collaboration were driving this change.
The broader UK context
The shift towards stricter office attendance policies isn’t isolated to JPMorgan or the US. In the UK, there has been growing debate about the effectiveness of remote versus in-person work. The Chartered Institute of Personnel and Development (CIPD) has noted that while many UK businesses see benefits in remote work, others argue that in-person interaction fosters better collaboration, creativity and team cohesion.
A 2024 survey by the Office for National Statistics (ONS) revealed that around 38% of UK workers continued to work remotely at least some of the time post-pandemic, highlighting the potential resistance to a full return to office life.
“I believe that we do our best work when we are together in person” — WWP CEO Mark Read
Industry reactions
Jamie Dimon, JPMorgan’s chief executive, has been vocal about his preference for office-based work, citing improvements in decision-making speed and opportunities for spontaneous learning and creativity. Dimon’s views echo those of other leaders who believe that the benefits of in-person work outweigh the conveniences of remote arrangements.
“I believe that we do our best work when we are together in person,” said WWP’s Read. “It’s easier to learn from each other; it’s a better way to mentor colleagues starting out in the industry; and it helps us win pitches as a truly integrated team.”
Luke Shipley, chief executive officer and co-founder of background-checking platform Zinc, said returning to the office might not be as straightforward as it sounds.
“While on paper these policy changes might sound effective, they create challenges for current and future employees as they’re forced to adjust to the ‘new’ old way of working.” He added that “[w]e’ve already seen similar policy changes at Dell spark major employee backlash and contribute to a drop-off in employee engagement in the last year.”
Shipley said that the changes “come with a significant cost for HR teams, who end up facing the challenge of retaining talent and finding the right candidates to fill future roles.”
These sentiments are shared by some other major firms. Amazon, for example, has also recently mandated a five-day office week for its employees, reinforcing the trend towards traditional work setups.
Future of hybrid working in the UK
As more companies, particularly in finance and technology, push for a return to office work, the future of hybrid working in the UK remains uncertain. Some industry observers suggest that a balanced approach, where remote work is still an option for certain days, could be a compromise that meets the needs of both employers and employees.
But as the economy stabilises post-pandemic, the emphasis on productivity and client expectations might drive more companies to follow JPMorgan’s lead. The reaction from UK employees and labour organisations will be critical in shaping how this trend evolves in the coming years.
