Connect with us

Hi, what are you looking for?

Investing

Over half of staff go back to workplace in last week

train to work

More than half of the country’s employees travelled to work last week for the first time since official figures began being recorded last June.

The Office for National Statistics reported that 53 per cent of workers travelled to their place of employment at least once during the week to March 14, up from 48 per cent the week before.

The findings suggest that people began returning to the workplace after schools reopened in England on March 8. With the country still in lockdown, official advice is that people should continue to work from home if possible.

Despite the drift back to the office, new habits appear likely to remain a permanent feature of the economy after the pandemic is over. A report by the Bank of England suggests that 34 per cent of the workforce will continue working one day a week from home.

The Bank’s decision-maker panel of 8,000 chief financial officers said that 49 per cent of workers were at home one day a week last month, compared with 14 per cent before the pandemic. Andrew Bailey, governor of the Bank of England, said this week: “I would be very surprised if things went back to how they were before Covid. For many people there will be more of a hybrid model of working from home and working in a place of work.”

While some companies plan to cut office space — including Aviva, HSBC, Standard Chartered, Lloyds Bank and Metro Bank — others are keen for workers to return as soon as possible.

David Solomon, chief executive at Goldman Sachs, told the bank’s 41,000 employees this month that they should all be back in the office by the end of summer. He called remote working an “aberration that we are going to correct as quickly as possible. This is not ideal for us and it’s not a new normal.”

Jamie Dimon, boss of JP Morgan, said last year that productivity was slipping on Mondays and Fridays. He also expressed concerns about the damage for graduate trainees and new starters.

“There are a lot of people who have been hired into our companies who have never been into our company,” he said at a conference in October. “How do you build a culture and character? How are you going to learn properly?”

Andy Haldane, chief economist at the Bank, said people were having fewer conversations that spur new ideas and that virtual discussions did not build trust and relationships in the same way. “These losses will grow with time,” he said. “At some point, they will offset the benefits of avoiding South West Trains.”

Read more:
Over half of staff go back to workplace in last week

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Economy

INFLATION in the first eight months stood at 4.4%, quicker than the central bank’s 4.1% average inflation forecast for 2021. — PHILIPPINE STAR/ MICHAEL...

Economy

By Kyle Aristophere T. Atienza, Reporter PHILIPPINE President Rodrigo R. Duterte’s political allies — at least those who are running for the country’s top...

Economy

The Balagtas Station of the Philippine National Railway Clark Phase 1 Project is currently under construction. Photo taken on June 14. — PHILIPPINE STAR/...

Economy

A SENIOR economist at the Asian Development Bank (ADB) said a local bourse’s program for micro, small, and medium enterprises (MSME) is key to...

Economy

GNPower Dinginin’s commercial run moved to Q3 2022 By Angelica Y. Yang, Reporter THE management of GNPower Dinginin Ltd. Co. (GNPD) said the timeline...

Economy

RATES of government securities on offer this week may move sideways or inch up as the dual-tranche offering of onshore retail dollar bonds (RDBs)...

You May Also Like

Investing

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...

Economy

Ivermectin, an existing drug against parasites including head lice, has had a checkered history when it comes to treating COVID-19. The bulk of studies...

Investing

As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...

Economy

US President Joseph R. Biden, Jr., will rely on ally countries to supply the bulk of the metals needed to build electric vehicles and focus on...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.



Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!