Managing directors at JPMorgan are required to work five days a week, and managing risk in a highly regulated industry requires them to come to the office, according to Robert Bedwell, the investment bank’s regional chief executive officer. states that the obligation is necessary.
“We are a highly regulated industry…the operational risks we face across the company are very serious,” Bedwell said at the summit.
Robert Bedwell, CEO of JPMorgan. peter ray
“And financial markets function five days a week… It all depends on what industry you’re in.”
The head of the investment bank said the company has an unashamedly “office-based culture” and working in the office is the norm rather than the exception. However, there was still an element of flexibility given to junior staff and the ranks below the managing director.
Under this obligation, managing directors are required to be in the office full-time, and junior employees are required to work in the office for a minimum of three days.
This mandate makes the bank an outlier compared to other industries, particularly on committees that include technology, advertising and insurance executives. But Bedwell said it’s up to organizations to package a set of working conditions, including compensation and other benefits, to keep employees engaged.
“People know what they sign up for to work for our organization,” he said, adding that there is more to flexible and attractive careers than work-from-home options.
Medibank executive Kylie Bishop said the insurer allowed team leaders to devise approaches that fit their teams and the type of work they performed.
Jenny Rogerson, Canva’s global head of human resources, said tech unicorns are choosing to go against office mandates and take a global approach, allowing staff in different jurisdictions to collaborate and creating other opportunities to collaborate digitally. He said he prioritized the method.
Inside advertising agency M&C. Saatchi, the boss, chose to avoid orders but still stressed the need for people to come together.
CEO Justin Graham said the agency has devised events and specific days to encourage attendance, such as “Roll as One Tuesday,” which encourages staff to come into the office to meet each other. The approach was outlined.
“It’s not about compulsion. It’s about the magnetism of people coming together,” Graham said. “We try to see this day as a day when kids can do things and experience things they wouldn’t be able to do at home.”