TORONTO – Get ready to spend more time at the office, Bay Street. BMO has announced it will join its counterparts, Scotiabank and RBC, in mandating a four-day in-office work week for employees starting mid-September. This move reflects a growing trend among Canada’s largest lenders to bring staff back to physical workplaces, where existing real estate capacity allows.
According to BMO spokesman John Fenton, the bank’s decision is rooted in a decade of investment in workplaces designed to enhance team performance through collaboration, problem-solving, mentorship, innovation, and career development. Scotiabank and RBC had previously signaled similar shifts to commence in September, citing anticipated improvements in collaboration, employee engagement, and overall company culture. RBC specifically emphasized its identity as a “relationship-driven bank,” viewing in-person interaction as crucial for its long-term success.
While these three major banks are leaning heavily towards increased office presence, other Canadian financial institutions like National Bank and CIBC are taking a more flexible approach, with their in-office requirements varying depending on the specific team and the nature of individual employee roles. The widespread adoption of stricter return-to-office policies marks a significant shift in post-pandemic work arrangements for thousands of Canadian banking professionals.