Bank of America, the second-largest bank in the U.S., is expressing frustration with employees who are not complying with its return-to-office policy. An alleged letter from Bank of America to an employee reveals that the bank is threatening “disciplinary action” against those failing to meet the company’s guidelines.
The letter states, “You are receiving a letter of Education for failure to follow the minimum expectation regarding your work location set by the Workplace Excellence Guidelines despite requests and reminders to do so. Failure to follow the workplace excellence expectations applicable to your role within two weeks of the date of this notification may result in further disciplinary action.”
Employees are reminded to adhere to all guidelines and rules set by the company, and failure to meet expectations may lead to additional actions. This move comes after Bank of America updated its return-to-office policy in October 2022, indicating that travel and remote work policies will vary based on job positions and business needs. Some employees are required to be in the office three days a week, while others have the flexibility to work from home on specific days.
Banking institutions like Goldman Sachs and JPMorgan have been closely monitoring in-office attendance, even tracking ID badge swipes for entry. Citigroup’s CEO, Jane Fraser, disclosed the company’s practice of tracking remote worker productivity and requiring them to return to the office if their performance is deemed insufficient.
However, the push for in-office work might have unintended consequences, as recent surveys show that full-time in-person and hybrid workers report higher job dissatisfaction compared to their full-time remote counterparts. Nearly 40% of in-person workers express unhappiness at their jobs, while only around 15% of hybrid and approximately 12% of remote employees report dissatisfaction.
