FinTech Futures Jobs: With return-to-office mandates on the rise, is it flexibility that fintech workers want?
The COVID-driven shift to remote work opened new possibilities for office-based workers, with many finding the adjustment a boon they had never previously considered.
From shorter commutes to lower stress, workers found they had more cash in their pockets. British employees also found they had more time in their day which gave them flexibility to fit in exercise, caring or childcare commitments.
But many of those employees have had a rude awakening over the past couple of years as more and more companies declare that they want their teams back in the office.
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As the pendulum continues to swing, being in the office for at least some of the week as part of a hybrid model is now the new normal. But many companies are pushing for things to go back to the way they were in 2019.
Amazon, the world’s fifth-largest employer, is the most high-profile company pushing for full-time back in the office. It is joined by the financial giant JP Morgan Chase, which according to reports sent around a company-wide memo last week telling employees who are on hybrid work schedules that they’ll need to return to the office five days a week starting in March.
According to a report by Reuters, the bank’s memo read: “We know that some of you prefer a hybrid schedule and respectfully understand that not everyone will agree with this decision. Being together greatly enhances mentoring, learning, brainstorming and getting things done.”
This position is strengthened by political discourse in the US, where in November 2024, President-elect Donald Trump announced his Department of Government Efficiency (DOGE), saying that Vivek Ramaswamy and Elon Musk would lead it. The pair plan to reduce the overall size of the government, cut costs, and mandate a full return to office for all federal workers.
Meanwhile, in the UK, many organisations are in the process of implementing five-day in-office weeks or have even completed the transition. During the summer, bankers and traders who are part of Barclays’ London staff reported that they had been asked to return to the office five days a week, while Boots’ administrative staff have been in-office full-time since September.
Recent data from KPMG UK also found that 76% of financial services leaders across the UK are planning to increase office attendance, with 37% expecting workers to be in the office at least four days a week.
Of course, there are outliers. Spotify is vocal about its commitment to remote working. Speaking on the topic, its chief human resources officer Katarina Berg recently said: “You can’t spend a lot of time hiring grownups and then treat them like children […] We are a business that’s been digital from birth, so why shouldn’t we give our people flexibility and freedom? Work is not a place you come to, it’s something you do.”
Flexibility wins out
Spotify has realised something that many employees also know: that the very act of being in the office is not necessarily going to make them more productive.
Gallup data backs this up, finding that it is flexibility which increases employee engagement. This then increases performance, with engaged workplaces reporting 41% less absenteeism and 21% more profitability.
Another Gallup study found that more than half (51%) of workers said they were more productive with a hybrid work arrangement, and 67% said they used their time more efficiently. For example, many workers find the office environment useful for meetings and collaboration, but it is at home where they get to concentrate and engage in deep work.
Returning to the office five days a week can also cause significant logistical and financial burdens on workers who have adapted to remote and hybrid models.
For some, it becomes untenable to continue in their roles, particularly those with caregiving responsibilities or long commutes.
For fintech workers seeking a hybrid model of work, you can find hundreds of open roles on the FinTech Futures Job Board. You can even upload your most current CV to be matched with relevant roles suited to your experience and skills.