I'm convinced that productivity is going to be lower than when everybody worked from home. My productivity is lower and all the people I talk to say the same thing. I wonder how will they continue to justify RTO when it becomes obvious that it's costing the bank money?
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@soq+1gKR5V7O raises good point. If you're in senior leadership fast approaching retirement, all you care about is the stock price because that's how you get paid. You're not going to be around long enough to deal with the fallout from the incompetent newbie hires that will be unable to run the bank. In the meantime, you've cut payroll expenses to the bone to boost the stock price short-term. It's the only explanation that makes sense. By the time the repercussions are truly felt, you'll be in the Cayman Islands sipping on a pina colada on your favorite beach.
I'd keep an eye on the stock price, and the economy. As things start spiraling down, companies will look to trim fat and cut expenses. Working From Home would be a logical push, let's see if the management is myopic or forward thinking. I think BM is a relic and should be replaced
The high turnover has been the real problem. Too many people left and are leaving and no one remains to manage the work load especially during high volume times. Also many who left were experienced and just newbies now. So productivity will drop and errors will increase. They could stop the floodgates by doing some sort of hybrid now but they won’t and it will wind up being too late. It is really eye opening to see the ignorance of higher management to the problems brewing. It’s not one you can fix with new hires (which has already been proven). Are they just buying time until they leave too? Can’t see an explanation for the financial problems this will cause the bank in the near future. I know I wouldn’t hire this upper management team to run my corporation (into the ground as it seems).
For our area, it is the amount of people who knew that were doing leaving. That alone is directly causing the red.