The six largest lenders, such as BMO, are some of the county’s largest employers with hundreds of thousands of staff.Christopher Katsarov/The Globe and Mail
Bank of Montreal BMO-T is the third major lender requiring staff to work from the office four days a week, signalling that major employers in Canada’s financial sector could soon follow suit.
By Sept. 15, BMO staff will work from the office on a more full-time basis, depending on real estate capacity.
“Our workplaces have a powerful role to help us serve our clients and communities, while shaping our culture and organizational productivity,” BMO spokesperson John Fenton said in an e-mail statement.
“Over the past decade, we have invested in innovative workplaces [like BMO Place in Toronto] designed to maximize team performance by promoting collaboration, problem solving, mentorship, innovation, and career development.“
In late May, Royal Bank of Canada mandated staff to work from the office four days a week starting in September. The following week, Bank of Nova Scotia levied the same requirement on certain teams in the Greater Toronto Area.
The country’s biggest banks are some of the county’s largest employers, with hundreds of thousands of staff across the six largest lenders. With half of banks implementing stricter policies, the moves are a major milestone for companies aiming to increase the time employees spend in offices.
Some U.S. banks have increased their return-to-office mandates. This year, JPMorgan Chase – the country’s largest lender – started bringing employees into the office for a full five days a week.