JPMorgan Chase CEO Jamie Dimon hit out at managers who work remotely, saying that leaders need to be “accessible” in order to do their jobs effectively.
“I don’t know how you can be a leader and not be completely accessible to your people. I do not believe you can be a leader and not be accessible to your people,” Dimon told The Economist editor-in-chief Zanny Minton Beddoes during an interview Tuesday.
Dimon declared himself a “skeptic” of working from home because he felt it isn’t conducive to teamwork and creativity.
“To the extent it works, I’m okay with it. If it doesn’t work, I don’t mind getting rid of it either,” he said.
JPMorgan, the world’s most valuable bank, has around 60% of its workforce back in the office on a full time basis despite grousing from some staffers, Dimon said.
“We’re not going to make that decision because we’re pandering to employees,” he said. “That is not the way to build a great company.”
Employees in sales or service roles — around 10% of bank employees — are working from home full time while the remaining 30% are in the office three days a week.
Anyone who objects to company policy is welcome to leave, Dimon said.
“I completely understand why someone doesn’t want to commute an hour and a half every day. Totally get it,” he said.
“Doesn’t mean they have to have a job here either.”
In April, JPMorgan began ordering its managing directors back into the office five days a week so that they can “lead by example.”
Those who failed to adhere to the edict were warned of professional consequences.
“Our leaders play a critical role in reinforcing our culture and running our businesses,” the memo said. “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, which is why we’re asking all managing directors to be in the office five days a week,” the memo added.
Some staffers pushed back, calling the message “tone deaf” and “divisive.”
In the comments on the memo that were posted on internal company platforms, some employees gave reasons ranging from traffic and costs to work-life balance as factors to consider against a strict policy.
Employees, including managers, complained about a “Zoom culture” in which staffers were stuck on virtual conference calls even when present in the office.
They also groused about the challenges posed by long commutes and family care-taking responsibilities.
Dimon and his counterparts at Goldman Sachs and Morgan Stanley have been prominent advocates of in-office working for learning, innovation and culture.
Goldman CEO David Solomon, who shares Dimon’s revulsion toward remote work, said last fall that 65% of company employees were back in the office five days a week.
Citigroup has allowed employees to work from home twice a week, though it has warned of consequences for those who fail to adhere to the minimum requirement of being in the office at least three days a week.
BNY Mellon recently demanded its employees also follow a three-days-a-week office schedule.
This story originally appeared on NYPost
