By Ben Popken - NBC News
Some Wall Street workers received the strongest return-to-work message yet: Come back before Labor Day or "we'll have another kind of conversation," warned James Gorman, CEO and CEO of the giant. of Morgan Stanley investment.
"If you can go to a restaurant in New York, you can come to the office.
And we want you in the office," said Gorman, whose wealth management division at the firm is the third-largest in the United States by assets.
He set out his position on Monday at an investment conference broadcast online.
"For Labor Day I will be very disappointed if people have not found their way to the office and then we will have a different kind of conversation," he said.
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Gorman also said that
employees who continue to work in lower cost-of-living areas of the country should not expect to continue to collect their wages from the big city.
"If you want to collect New York rates, work in New York," he said.
"None of the 'I'm in Colorado and I work in New York and I'm paid like I'm in New York' stuff. Sorry, that doesn't work," Gorman warned.
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Closeness with co-workers is important for inmates' creativity, collaboration and training through example and observation, Gorman stressed.
The company has invited workers to come back and will use a
hybrid model
during the summer, so that employees can manage issues such as childcare, having to be at home with children who did not go to a summer camp.
Employee situations will be dealt with on a case-by-case basis, he said.
Gorman is not alone in persuading employees to return to their desks.
David Solomon, CEO of Goldman Sachs, called
working from home an "aberration"
and further shook the waters last week by requiring employees to inform the company of their vaccination status before noon.
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At a CEO summit last month, JPMorgan Chase's Jamie Dimon said
telecommuting "doesn't work for those who want to hurry. It does
n't work for spontaneous idea generation. It doesn't work for culture." he said in an online conference for The Wall Street Journal.
As vaccines have spread, consumers are once again venturing into restaurants, events and travel, and company executives are eager to return their workforces to something similar to the pre-pandemic situation.
Executive policies and positions vary by industry, role, and geography.
While many finance companies are following a similar path to Morgan Stanley, most tech companies are taking a lighter approach.
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CEO
Sundar Pichai said
most of his employees will work in the office three days a week
and that 20% will continue to telecommute.
Following employee backlash, Uber is considering relaxing its three-day-a-week policy and allowing some team members to continue working remotely, Business Insider reported.
Facebook CEO Mark Zuckerberg called telecommuting
"the future"
and announced earlier this month that nearly all employees can telecommute indefinitely with director approval.
