BlackRock, the largest asset management firm globally, is reportedly planning to instruct senior managers to return to the office full-time, five days a week.
On Thursday, the New York-based company is expected to announce that around 1,000 managing directors worldwide should be in the office full-time.
Earlier this year, BlackRock had already told employees they needed to be in the office at least four days a week. However, a recent report suggests that junior staff will now have the option to work from home one day weekly under the new guidelines.
With over 21,000 employees worldwide, BlackRock is among several large American firms adjusting their policies after the rise of hybrid and remote work during the pandemic.
This year, JPMorgan Chase mandated that all employees return to the office, with CEO Jamie Dimon previously advocating for a return to pre-pandemic work routines.
In a message to staff, Dimon and other leaders acknowledged that some employees prefer a hybrid model and “respectfully understand that not everyone agrees with this decision.” Yet they argued it’s “the best way to run a company.”
Barclays also refined its stance on remote work this year, stating that all staff must work in the office at least three days a week, up from the previous two.
While tech companies initially led changes in work patterns during the pandemic, they are now also pushing for employees to return to the office. Amazon recently increased its office requirement from three to five days a week.
Data indicates that despite the push for a full office return post-pandemic, 28% of working adults in the UK were still engaged in hybrid work as of fall 2024. An analysis from the National Bureau of Statistics suggested these workers saved an average of 56 minutes on their commute, spending over 24 minutes sleeping and another 15 minutes exercising or pursuing leisure activities.
A recent survey from employer Hayes showed that nearly half of the professionals would contemplate resigning if required to return to the office full-time.
Nevertheless, a gradual recovery in the job market has led to rising rents for prime office spaces, with a reported increase of 7.5% over the past year, according to a survey by real estate agent Savills.
BlackRock has been asked for comment.
