Additional Coverage:
- JPMorgan CEO Jamie Dimon says remote work ‘doesn’t work in our business’ (foxbusiness.com)
JPMorgan Chase CEO Jamie Dimon recently doubled down on his stance against remote work, telling Stanford University business students that it simply “doesn’t work” for his company. Dimon, speaking at the Graduate School of Business, reiterated his belief in the importance of in-person work, particularly for younger employees. He argued that remote work hinders career development and creates a less cohesive company culture.
The discussion stemmed from a student’s question about Dimon’s previously leaked comments regarding the end of hybrid work at JPMorgan Chase. Dimon explained that while some roles, such as those in call centers, can be effectively performed remotely, the same isn’t true for the majority of the bank’s operations. He highlighted the essential nature of many jobs that never had the option of remote work, emphasizing the need for in-person collaboration in his own industry.
While acknowledging the right of individuals to prefer remote work, Dimon firmly stated his prerogative to set the policy for JPMorgan Chase. He pointed out that the company does offer some fully remote positions and has even seen success with virtual call centers, primarily staffed by minorities, in Baltimore and Detroit.
However, he maintained that the in-office environment is crucial for fostering communication, mentorship, and a strong company culture, particularly for younger employees. Dimon expressed concern that those working remotely often miss out on crucial learning opportunities and informal interactions that contribute to career advancement.
He also noted the difficulty of maintaining company culture in a virtual setting. He emphasized the constant communication and information sharing that occurs in the office, something he believes is difficult to replicate remotely.
He even lightheartedly mentioned the common distraction of phones during Zoom meetings.
JPMorgan Chase implemented a full return-to-office policy for employees this month.
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- JPMorgan CEO Jamie Dimon says remote work ‘doesn’t work in our business’ (foxbusiness.com)