Remote Or Not: Deloitte v. Morgan Stanley
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The struggle for work-from-home employment is still ongoing, primarily due to the increase in vaccinations. However, I'm still having difficulty trying to justify forcing people to come into an office. We already know the reasons why remote work is ideal. They're numerous. So let's take a look at two very different companies and their plans for remote work in the future.
Deloitte
After doing a survey with more than 15,000 respondents, more than 80% said they prefer to work at home up to twice per week. And the brass at Deloitte have listened. Although UK government officials have given mixed messages about working from home (really?) Deloitte is allowing their employees to choose and to make sure that remote employees have the same access to benefits like leave time.
My first response: Are they hiring? But seriously, #remotefirst really has me re-examining companies I'd like to work with. To allow their employees the option of staying away from the office is a mega-boost to 2021 PR.
Morgan Stanley
It's not good to see hashtags like #TheGreatResignation associated with your brand, but here we are. "Work in the office or else" will be one of the first phrases to pop up when searching for news stories about Morgan Stanley.
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Not a good look.
"If you can go to a restaurant in New York City, you can come into the office. And we want you in the office," said CEO James Gorman. He expects employees to return by Labor Day and for Zoom meetings to be reduced.
The problem with that analogy is you have a lot more options when it comes to dining. Maybe your favorite restaurant has a good takeout or delivery system set up. Maybe they have great cleaning policies. Maybe folks are creating their own versions of their favorite restaurant food at home. There are a lot of variables when it comes to food. Not so much when it comes to someone's cash and livelihood.
If you dig a bit deeper, you'll see the real issue: money. They don't want folks in New York making the same amount as someone in a state with a lower cost of living. Okay, then maybe try adjusting salaries based on location? This isn't a new concept.
So many questions pop up when evaluating this decision, primarily the productivity level of employees working remotely and the kind of work environment they have. What is so special about the corporate culture of Morgan Stanley that they demand employees return to the office and risk contracting COVID from unvaccinated co-workers? Do they not trust their employees? Are employees subject to micromanagement or hovering supervisors?
And this can't be a one-sized-fits-all policy. They have 10,000 employees in India and they're suffering one of the worst pandemic spikes ever. Though the CEO says it won't be "dictatorial" and evalations will be done a "case by case" basis, the policy doesn't make sense, and the fact that Morgan Stanley is so adamant about this stance is deeply troubling.
And clearly, company size isn't an excuse. Deloitte is considering expanding this policy and they have far more employees and are even more spread out across the globe than Morgan Stanley.
To be fair, Morgan Stanley hasn't made a formal announcement like Deloitte. It will be very interesting to see how this pans out and the employee retention rates for the third and fourth quarters.