Bank of Canada (BoC) is reportedly planning to allow most of its employees to work remotely 50% of the time every two weeks in post pandemic world.
The bank is planning to implement the new work strategy once public health guidelines allow it to fully reopen its offices.
BoC said that it is not expecting situation to normalise until next year at least.
At present, a limited number of staff are working in the central bank’s headquarters in Ottawa. The bank plans to bring back more employees to the office as Covid-19 cases in the country drops and as vaccination progresses.
BoC chief human resources officer Alexis Corbett said in an email: “More employees will be allowed access over the fall, in line with federal and provincial public health guidelines. Based on current conditions, we are not anticipating full on-site staffing levels until the new year.”
Last year, BoC warned slower rebound facing women, young people, and low-wage workers could pose a threat to a broader economic recovery from the Covid-19 pandemic.
Many financial institutions around the world are preparing to bring back their employees while adopting a new hybrid work culture.
In April this year, reports emerged about HSBC providing over 1,200 call centre employees in the UK to permanent home working contracts.
The same month, The Business Times reported that the Singapore’s OCBC Bank is planning to adopt a hybrid work model to enable some employees to work from home.
Deutsche Bank is also reportedly planning to increase flexibility in hybrid working models when offices reopen.
In April, a Bloomberg report said that the German lender may allow staff to work from home up to three days a week.