Canadian financial firms will rethink the return to office

Canada's top health official, Theresa Tam, warned on Monday that Covid-19 cases in the country could increase rapidly in the coming days as the Omicron variant spreads in the community. Updated plans for Canadian banks and insurance companies to return to office: Bank of Nova Scotia: Toronto has paused its plans to initiate a phased turnaround for head office employees from Jan. When the turnaround occurs, it will be staggered for different groups and most head office staff will follow a hybrid working model. Sun Life Financial Inc.: Canada's second-largest life insurance company has stopped its pilot to reopen its office for more employees until the end of January. The company has introduced a flexible back-to-office approach for the majority of its 12,000 employees in Canada that will allow them to choose where they work. National Bank of Canada: Canada's sixth largest credit institution has asked its employees to work remotely if possible. Royal Bank of Canada: Most of the bank's 61,000 employees work from home, but many have started returning to their offices or will do so in the coming weeks and months. Most of them will adopt a hybrid working model, working some days from home and some days in the office. Each workgroup and district determines the best working arrangements for them, and employees will receive at least four weeks' notice before returning to their offices. Toronto-Dominion Bank: Homeworkers aren't expected to return to office before 2022, but are "watching the situation as it evolves". The bank is preparing for employees to return to TD facilities when conditions permit. Bank of Montreal: Canada's fourth-largest bank has asked investment bankers to return to work from home by the week of January 17, according to a Bloomberg News report. Imperial Commercial Bank of Canada: Canada's fifth-largest lender has asked its staff in the country to work remotely and halted plans to return to work in January. In addition, banks and insurers have implemented mandatory vaccination policies.