Banks push for office return amid productivity woes

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Banks push for office return amid productivity woes
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Australia’s major banks want employees to spend at least half of their time in the office to create more opportunities for mentorship and informal learning.

“There [are] thousands that are coming in every day, [but] there [are] also thousands that are coming in less than one day,” Commonwealth Bank chief executive Matt Comyn told 2GB’s Ben Fordham.

the bank’s request that employees spend at least 50 per cent of their time in the office was not unreasonable“What we have seen quite clearly in our experience is that there [are] certain types of work that are done more effectively in person,” Mr Comyn said.“We see [that] people who are new to the organisation are more successful when they’re spending more of their time in the office.

“We need to train and develop our teams to be the best they can in supporting our customers and colleagues,” Mr McEwan told the. “This is hard to do when you don’t have a leader beside you, which is why I’ve asked our most senior leaders back into the office five days a week.”Reserve Bank of Australia governor Philip Lowe is increasingly concerned the recent acceleration in nominal wages growth could keep inflation higher for longer due to flatlining productivity.

Professor Wooden said research on the productivity benefits of working from home were mostly small scale, predating the pandemic and the widespread adoption of remote work.

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