RBC, Scotiabank, and BMO push four-day office returns as CEOs cite culture and strategy alignment
Despite Canada leading the world in average remote workdays, major employers are accelerating efforts to bring workers back to the office, citing strategic alignment, culture, and collaboration.
According to a global survey by the Stanford Institute for Economic Policy Research, Canadians now average 1.9 work-from-home days per week—more than any other country surveyed.
The research, based on 16,000 university-educated respondents across 40 countries, identified the trend as most prevalent in English-speaking nations such as Canada, the UK, the US, Australia, New Zealand, and Ireland.
Remote work levels, which declined in 2023, have since stabilized in 2024–25.
However, as reported by CTV News, large financial institutions such as RBC, Scotiabank, and BMO will require employees to be in-office at least four days a week starting in September.
Canaccord Genuity is reportedly moving to a full five-day model.
The shift mirrors similar moves by Amazon and JPMorgan in the US.
Alex Gallacher, managing director of Engage HR, noted a rising trend among employers tightening hybrid policies.
“There are lots of clients who are slowly but surely increasing the in-office requirement,” said Gallacher.
He said the main driver is a desire for a more cohesive culture that supports the business’s strategic goals.
These mandates come as Canadian CEOs increasingly anticipate a full return to the office.
As per KPMG’s 2024 CEO survey, 83 percent of Canadian leaders expect their workforce to be in-office full time within three years, up from 55 percent in 2023.
Banks have cited several reasons for the shift, including improved collaboration, mentorship, communication, and engagement.
RBC attributed its policy change to being a “relationship-driven bank” that values in-person human connection. Scotiabank pointed to benefits such as stronger culture and career development.
Gallacher said the push for more days on-site is less common outside major cities or in firms with highly specialized positions.
“If you were to try and go hire a claims manager in the insurance world in southwestern Ontario right now, it is literally like pulling teeth,” he said.
He recommended that job seekers ask direct questions about workplace expectations, noting it is probably as important as salary when considering whether they can manage their life.
Even with mounting mandates, evidence supporting hybrid work remains.
A 2023 research paper from Stanford economist Nicholas Bloom found that employees at Chinese travel firm Trip.com working remotely two days per week were equally productive and promotable compared to those in-office full time, and experienced one-third lower turnover.
Still, some experts question whether current policies are driven by data.
As per Carleton University management professor Linda Duxbury, many companies lack effective performance metrics to evaluate knowledge work.
“The decision makers are just making decisions, like the banks, everybody comes back, or the Government of Canada, three days … it seems like very arbitrary decisions as opposed to doing the hard work necessary,” she said.
Duxbury noted that return-to-office mandates are often driven by cultural pressures and managerial frustrations, adding that “they’re not just on a whim… there’s something triggering it.”
In one example cited by Barron’s and reported by CTV News, JPMorgan CEO Jamie Dimon said he couldn’t reach employees on Fridays and invited those unhappy with the policy to quit.
Retention appears to be less of a concern as economic pressures shift.
Meanwhile, smaller firms may be approaching the issue differently.
The 2024 KPMG survey found that only 20 percent of small- and medium-sized Canadian business leaders foresee a return to full-time in-office work.
Canadian employees, particularly parents, continue to favour hybrid models.
According to the Stanford study, workers with children were more likely to split time between home and office. The report also found that women with children showed a slightly higher preference for remote work.
An October 2024 survey by the Public Service Alliance of Canada found that 81 percent of respondents believed remote work was beneficial, and 66 percent said it boosted productivity.
Only 15 percent supported a primarily on-site model. Conducted in partnership with spark*insights, the survey also highlighted that respondents felt remote work fostered creativity, happiness, and enthusiasm.
Statistics Canada data supported these views, showing a 4.5 percent productivity increase in the federal public service between 2019 and 2023 during remote work periods.
