Underperformers back in the office

by Ana Lopez

Jane Fraser made history when Citi hired her to become the first female CEO of a major Wall Street bank. Immediately faced with the unprecedented stress of the COVID-19 pandemic, one of Fraser’s first major decisions was to implement a flexible hybrid work culture. She made the decision to fight pandemic burnout, improve employee well-being and give the bank an edge in the battle for top talent.

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Under Citi’s hybrid work policy, most employees can work three days in the office and two days at home. That reports CNN that Fraser, speaking at the World Economic Forum (WEF) in Davos, Switzerland, indicated that productivity at Citi is carefully measured and that collaboration and mentoring work best when done together.

So employees who don’t perform well on a hybrid schedule go back to the office for job coaching. However, Fraser said she doesn’t want Citi to revert to the 1980s banking model, so the hybrid option remains.

Fraser also believes that going forward, Citi will need to work on balancing face-to-face collaboration with providing flexibility to employees. “I think we’re heading into a world with a pretty tight labor supply,” she said. Plus, people who have left the workforce aren’t returning as expected, so Fraser said it’s up to her company “to continue to listen to our people to get that balance right.”

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