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Bloomberg writes that as the government prepares to ease lockdown restrictions and manufacturers, miners and industries prepare their factories and offices to receive their employees, banks have found there is no need to immediately go back.
Investec CEO Fani Titi observed: “We have established that we can work very effectively from outside the building. In the fourth quarter of the year we may see an increase. But I don’t think we’ll ever get back to a situation where you will have approximately 95% of your people in one place.” Banks were allowed to keep branches open throughout the lockdown. Like Investec, Nedbank, Absa and FirstRand all expect to keep most staff home when restrictions ease. Standard Bank Group’s offices in Johannesburg, which typically holds 16,000, only has 3,000 essential workers on site. Still, the change has come with challenges Investec’s CEO said: “The psychological toll on people has been significant. The idea of being locked in a room at home without contact with people and without the kind of interaction that Investec naturally is prone to has been a difficult experience.”
- Read the full original of the report in the above regard by Vernon Wessels, Roxanne Henderson and Janice Kew at BusinessLive
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