Citigroup Is Sticking With a Hybrid Work Schedule. Here's Why It Gives the Bank a Competitive Advantage, According to Its CEO.

Citigroup isn't pursuing chap Wall Street banks for illustration JPMorgan and implementing a strict return-to-office policy. According to caller reports, Citigroup has decided to instrumentality pinch its hybrid schedule which allows unit up to 2 days per week of distant work.

Citigroup CEO Jane Fraser told managing board connected a quarterly telephone successful mid-January that the slope will proceed to person a hybrid activity schedule, The Financial Times reported connected Tuesday. Per the report, Fraser said that Citigroup's hybrid activity argumentation gives it a competitory advantage by allowing it to enlistee talented staff.

The mostly of Citigroup's 210,000-person workforce is connected the hybrid schedule now, pinch only traders and unit astatine slope branches expected to beryllium successful the agency 5 days per week.

Citigroup CEO Jane Fraser. Photo by Drew Angerer/Getty Images

Fraser has taken measures to thief Citigroup's workforce found a measurement of work-life balance. In March 2021, she sent a memo to the bank's unit creating Zoom-Free Fridays, wherever labor were not required to return video calls connected Fridays. She besides encouraged unit to support their activity to moving hours and return their picnic time.

Related: Remote Walmart Employees Question Return-to-Office Policy, Some Opt to Quit Instead of Relocating

"When our activity regularly spills complete into nights, very early mornings, and weekends, it tin forestall america from recharging fully, and that isn't bully for you, nor, ultimately, for Citi," Fraser wrote successful the memo.

Fraser's stance connected hybrid work, arsenic giving Citigroup an advantage complete the competition, contrasts pinch that of different banks connected Wall Street, for illustration JPMorgan. Last month, JPMorgan asked each of its 300,000-plus labor to return to the agency 5 days per week by March. Employees pushed back almost instantly connected a institution station announcing the mandate, pinch complete 300 comments explaining that the argumentation would impact their childcare costs, commute, and work-life balance.

Other Wall Street institutions asked labor backmost to the agency moreover earlier. Goldman Sachs told its U.S. labor that they had to beryllium backmost successful the agency by June 2021.

Meanwhile, respective awesome companies person decided to enactment pinch much elastic schedules. Starbucks has maintained a hybrid schedule pinch 2 days moving remotely for its firm labor while Spotify has a work-from-anywhere policy.

Related: 'Retiring the Hybrid Policy': Dell Issues a Strict Return-to-Office Mandate for Most Employees