At Jpmorgan, productivity falls for WFH staff

A troubling pattern emerged as most of Jpmorgan Chase’s employees worked from home to stem the spread of Covid-19: productivity slipped.

Work output was particularly affected on Mondays and Fridays, according to findings discussed by CEO Jamie Dimon in a private meeting with Keefe, Bruyette & Woods (KBW) analysts. That, along with worries that remote work September 13 note to clients. is no substitute for organic The bank has noticed the interaction, is part of productivity why the biggest US decline among bank is asking more “employees in general, workers to return to not just offices. younger employees,”

“The WFH lifestyle Jpmorgan seems to have spokesman Michael impacted younger Fusco clarified, employees, and adding younger overall productivity workers “could be and ‘creative combustion’ disadvantaged by has taken a hit,” KBW’S missed learning opportunities” Brian Kleinhanzl wrote in a by not being in offices.

Jpmorgan’s findings provide a data point, showing extended remote work may not be all it’s cracked up to be, at least for some job functions

Jpmorgan’s findings provide a data point in the debate over whether employees perform as well at the kitchen table as they do in the workplace, showing extended remote work may not be all it’s cracked up to be, at least for some job functions. While prepandemic studies found remote workers were just as efficient as those in offices, there were questions about how staffers would perform under compulsory lockdowns.