06Jun

Forced to work from home because of the global coronavirus pandemic, banking professionals are warming to the practice and discovering they can be even more productive at home than in the office.

That’s a dramatic reversal from what they were thinking shortly after they first began working remotely.

In April, when Deutsche Bank first surveyed financial professionals, 47% said once the pandemic subsided they would work from home only when they had to. In the latest survey, conducted two weeks ago, only 31% expressed that attitude. Now, 63% said they plan on working from home at least one or two days a week.

In the April survey, 36% said they intend to work from home once or twice a week. Another 11% said they intended to work remotely three or more days a week.

What’s behind the change in attitude? The Deutsche Bank survey reported by eFinancialCareers, apparently didn’t probe that deeply. However, a question about productivity suggests at least part of the reason is that almost 4-in-10 respondents are getting more work done at home than they did in the office.

In April, as workers were still settling in to the new routine, 29% said they were more productive. In the May survey, 37% claimed greater productivity. Counting those who now say there’s no change in their productivity, then 69% of finance professionals say they are as productive or more so working from home.

Interestingly, the more senior the professional, the more likely they are to claim an increase in productivity. A chart in the eFinancialCareers report shows finance professionals over 45 reporting they are more productive by 10 percentage points or more compared to their younger colleagues.

Hinting that working remotely may become more the rule than the exception for Deutsche Bank employees, CEO Christian Sewing told shareholders during the firm’s annual meeting that it is a way to save money.

“If 60% of employees worldwide can work away from their offices and still deliver excellent service to our clients, then of course we have to ask ourselves: can we give our staff additional flexibility to work from home if they want to?” Sewing said in his speech to shareholders. “And if that’s the case, do we need quite so many offices in expensive urban centers?”

Photo by Yasmina H on Unsplash

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Wrapped Up: 2021 Corporate Trends

With a hope of gauging some workplace trends this year, we started running polls on our LinkedIn page every few weeks. In 2021, we wanted to hear the thoughts of job seekers, fellow recruiters, and everyday employees. In addition to some serious topics, we also touched upon fun ideas and newly trending discussions. Thankfully, our incredible community did not disappoint. We received thousands of votes and comments that really opened our eyes to some interesting insight.

To wrap up the year, we’ve summarized some of our favorite polls and their results. The new year is around the corner and we hope to keep this line of communication open. Now more than ever, corporate trends are constantly evolving. We will always want to hear your views and opinions!

  • Are cover letters necessary? Most voters said otherwise. In fact, many believed that all necessary skills and experience are already outlined in the resume, negating the need for a cover letter. Additionally, recruiters and hiring managers seldom have time to read cover letters. Not requiring one will also lead to a larger candidate pool, as many job seekers are not willing to write one.
  • Would you participate in a stay interview? We had recently shared a blog post regarding stay interviews, a popular trend since the start of the Great Resignation. While the majority of people voted yes, they would participate, the comments said otherwise. Many claimed that stay interviews might reflect a “too little, too late” narrative from employees. Others felt that while stay interviews could be beneficial, managers and companies must also be willing to take action regarding the feedback.
  • Is a 40 hour work week too much? The pandemic and work from home culture has altered corporate life in several ways. A large consensus is that the traditional 40 hour work week has become unnecessary. The majority of jobs don’t require that many hours to thoroughly complete the work. Alternately, industries such as finance and banking consider 40 hours a luxury. Many commenters agreed that work hours should be variable; however long it takes to get everything done is how long an employee should work.
  • Do you take fewer sick days while working from home? Most people said yes, they definitely take fewer sick days while working from home. Eliminating the commute and the ability to work in a comfortable environment has workers more apt to save their sick days. There was almost no debate on this one; even if they’re actually sick, many people are still logging on to work. If you want to read more about workplace culture following the pandemic, check out our post here!
  • Should you apply for a job even if you don’t meet the minimum qualifications listed in the description? Generally, many believe that if you have 70% of the required skills and experience, you should apply. Hiring managers might have different priorities than what was listed in the job description. Sending along your resume can’t hurt, especially if you’re confident in your candidacy. Also, years of experience don’t always match the skill set of a candidate. Strong applications and interviews speak volumes.

We thank everyone who participated in our polls this year and look forward to 2022. Let’s keep these discussions and trends coming! In the meantime, if you are interested in talking to one of our talented recruiters, connect with us on LinkedIn or check out our Jobs Board today! See you in the new year!