No WFH on Mondays & Fridays: Deutsche Bank tells staff to ramp up office use

Deutsche Bank wants to spread employee presence more evenly through the week.

In the past couple of years, big companies rapidly rolled back work from home and welcomed employees back to offices. While a significant chunk of the employees protested, switched jobs or quit, many begrudgingly went back to the basics.

Now, Deutsche Bank, one of the world's leading financial institutions, has issued a significant shift in its work-from-home policy. Acknowledging the inefficiency in its current real estate usage, the bank has mandated that employees abstain from working remotely on Fridays and the subsequent Mondays, aiming to balance office presence throughout the week.

Deutsche Bank's recent directive to employees marks a pivotal moment in the ongoing discourse surrounding hybrid work arrangements. The financial giant, like many other corporate entities, is reassessing its real estate strategy in light of the changes brought about by the global shift towards hybrid work.

According to a report by Bloomberg, the bank's decision comes as a response to the realization that its offices are often underutilized, prompting a need for a more balanced occupancy distribution.

In an internal memo to staff, Deutsche Bank explicitly stated its intention to "spread our presence more evenly through the week."

This move aims to address the inefficiencies identified in the current utilization of real estate resources. The heart of the matter lies in the challenge faced by occupiers - the erratic occupancy levels observed throughout the week.

With offices being approximately 60% full on Tuesday to Thursday, about 40% full on Monday, and only a quarter full on Fridays, companies find themselves at a crossroads when deciding on the optimal real estate footprint.

The decision is further supported by data from Kastle Systems badge data, revealing a 60% occupancy rate compared to pre-pandemic levels from Tuesday to Thursday. On the other hand, Mondays witness a 40% occupancy, while Fridays are notably quieter with just a quarter of the workforce present.

The move by Deutsche Bank, effective from June, positions it as an outlier among firms mandating specific days for in-office presence. According to Scoop Technologies, a mere 6% of such firms enforce a physical office presence on Fridays.

This revamped work-from-home policy also requires managing directors to be present in the office four days a week, while all other staff members are expected to adhere to a three-day in-office schedule.