Thread regarding Bank of America layoffs

Separate the issues

BOFA hasn’t been the most terrible employer. When Covid hit they got us home. Their benefits are competitive with other companies. Even when some states remained opened during the pandemic they kept people at home for over two years.

The issue is not about Covid anymore but RTO. While working from home most people realized their lives were better off for it. They appreciated the less heartache and stress commuting to work. Getting up early and having to get dressed, pack their kids lunches and take them to school. Sitting in rush hour traffic for long periods of time only to get home and have to rush to prepare dinner for their families and shortly after head to bed to do it all over again. It’s a chaotic schedule five days a week. Parents, especially women faced these challenges daily. It’s not fun!
Life for most felt easier and simpler working for home. It gave people a true sense of work life balance. They got to spend the extra time with their families. They got more time for themselves to do fun things.
They worked harder because they were happier. The bank reaped the benefits of those happy employees and it showed in their profits. Productivity soared for most companies.

The question has become, is collaboration really better in the office? The fact is you can collaborate from anywhere. If anything Covid has proven the office is more of an unnecessary distraction and a cess pool for germs. We collaborated from home for over two years.
Can a company who prides itself as a work from the office company see the benefits of remote employees? I think they can if people keep leaving but most importantly if they can’t replace those skillset. At some point something will give. If forcing employees to go back to an office setting will cause them unhappiness, it will eventually show in their work and morale will sink. It may seem like they’re not listening but they eventually will. It is going to be very difficult for BOFA to remain competitive when their competitors are going in different direction. They will continue to lose talent and at some point they will have to stop the bleeding. I have chosen to start posting. I want to work for a company that is willing to step up and lead in times that are unprecedented. In my opinion this bank has failed its employees with its RTO strategy. If some companies who preached the same can change direction so can BOFA. There is no point anymore for an annual survey or them priding themselves as a great company to work for when they got the opportunity to lead the way innovating remote work and they continued with the old mentality that somehow the old way still works. Covid has changed everything. mostly people. After one disaster comes another. Inflation and record high gas prices will cause even more unhappiness when people start to struggle to buy the basics. These crisis are not new but to have so many in such a short time will cause people to rethink what’s important to them and BOFA will not win this fight as remote work is here to stay says the many companies who embraces it.

by
| 1884 views | | 12 replies (last April 13, 2022) | Reply
Post ID: @OP+1geaXrJL

12 replies (most recent on top)

Leave!! bye!!!!

by
| | Reply
Post ID: @pbt+1geaXrJL

Great article, the writer can't even spell Stanford correctly nor does the link to their source study even work...

"A study by Standford of 16,000 workers over 9 months found that working from home increase productivity by 13%"

Also they claim people working from home work on average one day a week more than they did in the office but are, on average, only 13% more productive in doing so.

In the end people are going to believe whatever benefits them, and this article is proof of it...

by
| | Reply
Post ID: @ezs+1geaXrJL

Here are some productivity stats for 2022 WFH.

https://www.apollotechnical.com/working-from-home-productivity-statistics/

The person that said there is a drop in productivity is a big fat liar.

by
| | Reply
Post ID: @eie+1geaXrJL

There shouldn’t be a thing where employees/adults need to be monitored working from home. It is the job of a manager to know what each employee is doing. Dude needed to make him so heard and prove his point to feel important because think about it, what kind of skIlls do you need to monitor people working from home.

This bank couldn’t compensate me enough for all the extra hours they got from me working from home. With so many people leaving I’m doing triple my work load. Maybe they should try monitoring some of us and only then they will realize how much extra we have given and then there will be no need for the person who’s job is to monitor employees working from home.

by
| | Reply
Post ID: @smo+1geaXrJL

Exactly why we’re in this position to begin with. They didn’t seem to worry about what we were doing working from the last two years when they were making the record profits.

: @rvb+1geaXrJL You’re the problem, not the solution. It is your kind of thinking that has made it so terrible for all of us.

by
| | Reply
Post ID: @alb+1geaXrJL

@rvb+1geaXrJL - With all due respect, your paragraph is spoken like a true elitist Big Brother technocrat that views employees as data and numbers, and not human beings. This is exactly the kind of backwards, myopic thinking that is wrong with the bank. Workers are done with being treated like drones, slaving away to make the CEO disgustingly rich. A highly dysfunctional bank with warped double-speak values.

by
| | Reply
Post ID: @zhu+1geaXrJL

As someone whose job is to monitor WFH employees (not for BOA) I can tell you there is, generally speaking, a large drop-off in productivity. Sure, you are now able to handle your personal affairs better and it it is understandable that people like that. However, when you are 20% or more off the pace in order to do laundry or watch your kids during business hours, it becomes an issue. You are of course welcome to vote with your feet, but your options are going to become more and more limited as businesses do the math. In the long run, efficiencies will be implemented and less warm bodies will be required to operate...and the banking industry has a long memory. You can tell me I'm biased or outdated (I'm likely younger than most of you). It doesn't make me wrong. I see the data. I know what management thinks about it. I can assure you, they are not concerned about mass defections. This is your red pill. Choose to take it or not.

by
| | Reply
Post ID: @rvb+1geaXrJL

Wfh was a way to combat horrible raises and bonuses...BAC has to bring up wages after 2 years a shlit..

Saving $5k a year in gas, car expense and parking helps w bad compensation...

by
| | Reply
Post ID: @kho+1geaXrJL

As people get their dates to go back to the office the struggle will become real again. This time though it’s not just about work life balance, it’s about deciding whether to buy gas to take you to an office you don’t need to be or cutting back on milk and cereal for the kids because the milk is now almost double the cost. This struggle is very real for most especially single parents. When you hear the elitist executives talk about collaboration is better in the office or this is a work from the office company I would like to hear them add to that conversation a stipend for the 8.5% increase for good and services and a %23 increase for gas to take us to that office which is so much better. Life in itself has become even more depressing. Waking up each morning knowing these are the challenges to face daily makes you not want to wake up. I’ll be the first to sink the morale because every day I have to drive in and pay for that expensive gas I’ll remember my kids didn’t get to have milk and cereal that morning because the choice for me was to buy gas to take me to an office I don’t need to be in to do my work.

by
| | Reply
Post ID: @wfc+1geaXrJL

I see this as the people’s war against the elitist corporations. Some will rise to the challenge while others will cower to old ways. When a company refuses to recognize what’s important to their most valuable asset, people, it’s probably time they fail. This bank has lost perspective of what they claim is important to them, the voice of the employees. If you were wondering if they care, they don’t and the survey we complete every year means absolutely nothing to them because how many of you saw any changes in all the years you’ve been there even though you voiced your concerns. If they dare send out a survey this year do not complete it. What would be the point!

by
| | Reply
Post ID: @oko+1geaXrJL

And when they fail let’s hope we have a government that isn’t willing to bail them out with taxpayers money.

by
| | Reply
Post ID: @now+1geaXrJL

Couldn’t agree more. Competition drives innovation. This strategy will prove to be the end of BOFA in time to come. When a company can’t compete with talent they’ll eventually be the loser for that decision. It has happened time and time again and it’s how big companies who think they’re untouchable eventually fails. They have the upper hand for now but time will certainly prove differently. This is just a period of time and it will pass. When it does let’s see how this bank stands up against the other banks who chose to get with the times.

by
| | Reply
Post ID: @rnb+1geaXrJL

Post a reply

: