Investment industry's confidence in hybrid model soars

A new report has found that more than a quarter of Canadian managers have pushed through a hybrid work arrangement, as employers recognise the benefits of flexible work for their teams and their businesses.

The Portfolio Management Association of Canada (PMAC) surveyed a bevy of investment firms and discovered that 26% have implemented a hybrid work arrangement this year. This 26% pushed through with a model which required employees to report to the office three days a week. For eight percent of the respondents, workers were asked to report one day a week. Another 14% asked employees to report two days a week, and 11% for four days a week.

PMAC President Katie Walmsley said the number of employers applying hybrid work arrangement within their offices displays "confidence" amid the pandemic.

"The investment industry's move to a hybrid work model reflects its confidence in the way it handled the pandemic, and the many benefits that hybrid affords both employers and employees," said Walmsley. "We have been surveying firms regularly during the past year and it's clear the majority of firms see the benefits of more in-office presence to optimise collaboration, employee mentoring, and team relations, while recognising the work/life balance and many other benefits of offering some hybrid flexibility.”

Read more: Return to work or WFH? HR leaders face challenges with hybrid model

Meanwhile, the report also found that 19% of workplaces went fully remote, higher than the number offices that required employees to report five days a week. PMAC's survey sought to review the current and future of Canadian in-office work arrangements, and so association members could use it as a benchmark for company policies and practices.

According to Walmsley, policies are "evolving as firms try to reach the right balance with firm culture and client needs being the key driver in determining company policy."

Other findings from the survey found that 52% of the respondents are not requiring vaccines for employees, 39% are asking staff to be fully vaccinated, while nine per cent require in-office workers to be fully vaccinated.