Work Flexibility Reaches Wall Street

Wall Street, once a full-time, in-office operation, is now offering choices in where work gets done. Although Goldman Sachs and Morgan Stanley are mandating five days in the office, Citigroup and UBS have adopted a hybrid approach. Forcing employees to spend time in the office gives managers a sense of control, but it threatens employees’ status, autonomy, and fairness. Instead, offering employees a choice in how they work — whether that’s 100% remote, 100% in the office, or hybrid — has advantages, writes NLI co-founder and CEO David Rock. “When much of the work can be done virtually, getting together feels special; people are excited to see one another and be productive together,” he says. Read more in Finance Monthly (PDF).