By Charlie Conchie
Investment firm M&G has called on its managers to get back in the office for three days a week in a bid to boost the morale and development of its junior staff – but they won’t be allowed to simply swan in on Tuesdays, Wednesdays and Thursdays.
The FTSE 100 investor has joined a wave of firms calling on staff to get back into the City, as companies look to reset widespread working from home brought on by the pandemic.
London-headquartered M&G has told its bosses to spend three days a week at the office to reap “the value of spending time together”. Junior staff at the firm also want more of the “leadership team in the office than is currently the case”, M&G’s chief Andrea Rossi and his top team told managers in an email, reported by The Sunday Times.
“Our aim is to build a team and an environment that helps everyone at M&G be at their best. A big part of that is about spending time with colleagues, clients, customers and stakeholders,” an M&G spokesperson told City A.M.
“That’s the next step in unlocking the benefits of a simpler operating model and making M&G a faster, more agile and collaborative place to work that’s easy for our clients to do business with,” the spokesperson said.
The firm first informed staff of the change last month and is currently going through a staggered introduction of the policy over the next two months to allow “people to make any necessary arrangements”.
Managers at the investment firm have been asked to come into the office for three days a week on a rotating basis, effectively ruling out the proliferating ‘TWaTs’ (Tuesdays, Wednesdays and Thursdays) routine, which has left the City deserted on Mondays and Fridays.
Footfall on public transport has underscored the prevalence of the trend in London. According to ridership figures from TFL and WeWork shared exclusively with City A.M inMarch, Thursday is still the most popular weekday to travel on the Tube, reaching some 3.46m journeys on Thursday February 23rd.
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