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TD Bank will require all employees to work onsite at least four days per week starting this fall, according to a memo shared by the bank.
Executive-level staff are expected to begin the new schedule by October 6, while non-executive employees will follow on November 3, TD Bank Group Chief Human Resources Officer Melanie Burns confirmed in a company communication.
"Many locations will be ready to accommodate this change by November 3," Burns said.
She noted that although the bank is moving forward with its in-office expectations, there will still be some flexibility. The bank is focused on ensuring its workspaces meet staff needs, she said, adding that managers “will also have some flexibility to allow some extra remote workdays.”
Boosting collaboration
TD Bank's leadership has emphasized the business value of physical workplace presence, saying the bank has found working in person boosts collaboration, decision-making, learning and outcomes, while also improving career development and company culture.
The new requirement is part of a growing trend in corporate workplaces following the shift to remote and hybrid models during the coronavirus pandemic.
Sector-wide policy shift
After several years of allowing remote work following the pandemic, many companies are now calling their employees to return to the office, claiming - as Burns does - that in-person collaboration is a key benefit for business because it promotes workplace connections, learning and a strong company culture.
Earlier this year, other banks such as JPMorgan Chase, the Bank of Montreal and the Royal Bank of Canada also implemented policies to bring staff back into physical workspaces.
