To me, the growing number of executives calling employees back to the office is reminiscent of the tale of the hammer and the nail: Offices are empty, managers are alone in the office, they feel a loss of control and call their employees back to the office since it is there.
The argument most often heard, as in the case of BlackRock, is that being in the office creates teachable moments: “Career development happens in teaching moments between team members, and it is accelerated during market-moving moments, when we step up and get into the mix,” top executives at the world’s biggest money manager wrote in an internal memo. “When fast-moving, high-client-interest events are happening, having our teams physically together to find solutions, seize opportunities and learn from each other makes a difference… See you in the office!”
“Our leaders play a critical role in reinforcing our culture and running our businesses,” JPMorgan Chase’s operating committee wrote one month before when the largest U.S. bank told its managing directors it expects them in the office five days a week. “They have to be visible on the floor, they must meet with clients, they need to teach and advise, and they should always be accessible for immediate feedback and impromptu meetings. We need them to lead by example.”
Teachable moments galore elsewhere
All of this is true, and yet also not true: I’ve spent much of my career away from headquarters, and therefore had to find teachable moments elsewhere. That has worked very well.
I get teachable moments from expanding my network outside the office, with people working for different companies. There is no doubt in my mind that created an enormous amount of benefits, both for my employers and myself. They gain from my network, which is strong and diverse. I do too.
I also get teachable moments from connecting with colleagues online. It is amazing that you can be in a meeting one moment with someone in Hong Kong, then in London, then in New York, and finally in San Francisco, as well as all kinds of cities in between.
Sometimes, ‘work’ is also not something you can separate from other activities. When I run, I reflect. When I lunch, I learn. When I read the newspaper, I have aha moments. When I’m travelling, I see the world from a different perspective. Those are all teachable moments that are completely separate from being in the office.
“I am not trying to be black and white here. I actually love being in the office.”
I am not trying to be black and white here. I actually love being in the office. I agree that it does lead to a common culture, new ideas, learning from mentors, and so on. I work from an office for that reason, even if I am not in the headquarters in New York. My ‘office mate’ here helps me digest when I had a bad day, gives me ideas for things I’m working on, or joins me for lunch to do some brainstorming. I love all that.
My issue is not so much with any decision companies make about returning to work. It is the reasons they have for doing so, which to me seem to be driven more by real estate contracts (the FT reports that BlackRock moved into a new 970,000-square-foot headquarters, for which it signed the lease seven years ago, at the beginning of 2023) and a manager’s need for command and control, rather than what is most beneficial for workers and therefore the company.
A pure power play on behalf of top management
Return to the office policies should be based on what is most beneficial for the workers, and their learning and productivity, not on the perspective of managers. The latter need to adapt to changing times.
I see too little of that in the announcements of big companies, especially I would say the financial companies that have been calling their employees back five days a week. Those smell like a pure power play on behalf of top management.
Don’t say the office is where you get teachable moments. You can get those anywhere.
This article is based on a LinkedIn post by Peter Vanham, and subsequent replies to it.
It gives the views of its author, not the position of ESCP Business School.