“Warning Letter” - Bank of America Threatens Employees Who Don’t Come To Work
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- เผยแพร่เมื่อ 26 ม.ค. 2024
- Patrick Bet-David, Adam Sosnick, Tom Ellsworth, and Vincent Oshana discuss Bank of America sends letters threatening "disciplinary action" to employees who aren't coming into the office.
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Patrick Bet-David is the founder and CEO of Valuetainment Media. He is the author of the #1 Wall Street Journal Bestseller “Your Next Five Moves” (Simon & Schuster) and a father of 2 boys and 2 girls. He currently resides in Ft. Lauderdale, Florida. - บันเทิง
Sadly, banks continue to stumble, mortgage rates is on the rise with higher imports and lower exports, yet the FED is to lessen cost. So, where do we grow and safeguard our money now? something will eventually break if they keep raising interests and quantitative tightening.
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Let's face it. The truth is that BOA and other banks are on the hook for all the empty new buildings they built and no one wants to fill. If you dont fill the office buildings, you lose those rents and you go under. Too bad BOA.
Nailed it! This is likely the real issue for this push.
Yeah probably, on the other hand you are 50% less productive at home and its bad for your mental health. 99% of the human population needs social interaction, in a distopian future you dont even get out of your bed. You wake up, plug into the matrix and once youre done unplug and go back to sleep. Yep, id rather be in a prison then live like that.
As someone that works for those other banks I can confirm this is 💯 accurate
💯%
Great point, this is a big reason
I disagree PBD. Nobody knocks on my door at home and I don’t have kids or pets either. I have zero distractions at home. My job is also just now forcing us to return to office, just to do the exact same job that we do from home. I have to commute 2+ hours per day, just to sit at a desk and our meetings are STILL on Zoom because it’s easier to screenshare and collaborate, plus some staff aren’t all in office on the same days.
Being around my coworkers doesn’t increase collaboration any more than we collaborated while teleworking. There is no “culture” going into the office. That’s absolute horsesh*t. Everyone hates being there and we’re more miserable wasting hours of our day commuting into downtown and fighting for parking just to pay $20 per day to park. It’s completely ridiculous. There’s no point other than upper management wanting to exercise control over people.
Especially looking too pay to park
The job determines your job, you do not determine what you get to do whether you like it or not. You have a right to quit and get another job.
@@gsp3428
Amen!!!...I was just thinking the same thing. That the culture we're living in today. Wants to dictates, how things should run, when they're the employees.
💯.
If working from the office is a must then it’s a must. You may say you can work from home but at the office it’s monitored work AND it’s more efficient across the board
Don’t let it fool you! 🙄They want them to quit so they can hire new employees and pay them less! It’s all a game! They don’t care about employees or the customer service!!
Shit imma apply 😜
Why not wouldn't they keep WFH and hire WFH employees from overseas instead???
@@user-mg8fn1bq9d In this case no because everything changed after Covid they are required to go by new regulations and hire EDI. If you do research to these companies you will see it’s not where they work! If they we’re concerned about being in the office they wound not outsource and expose their client’s information to a agent overseas with no job qualifications!
@@user-mg8fn1bq9d Not really!!😏After Covid everything changed these companies have to hire new EDI employees to go by new hiring guidelines to have high scores. Customer service and employees being in the office don’t matter if it did they wouldn’t outsource the jobs to overseas!
@@chuco915C go for it! 😆
The whole productivity argument goes both ways and should be thrown out. People can be just as lazy and unproductive at an office.
Yeah but at work…. They can ride you.
No you cant, if youre unproductive at work its much easier to catch you and fire you
And they are😂😂😂😂😂😂😂😂😂😂😂😂
I guess if you're going to throw that argument out because you can't guarantee higher performance in an office setting and we're talking about BofA, all arguments are irrelevant. I think their problems are way deeper than this issue, and cost-cutting is next.
So, you believe the problem is a lack of accountability?
As soon as I heard companies were letting people work from home during covid, I knew they'd have hard time getting people to come back in. They proved that it's possible to work from home so why do I NEED to come in?
Bingo. Shiiitttt, my performance reviews have been stellar working from home. I have no distractions keeping me from getting my work done on time. I would have been fired by now if this wasn't true.
I really don't see what's so hard, the biss says to do something and u do it, in what world do these employees have any right to decide whether they come in or not
Fully agree. Remote positions do require more quantifiable, trackable metrics, but once you've proven effective at remote, nuts to ever returning to an office
@tom-fi2yp I'm a carpenter and can't work from home lol I'm just saying, I saw this coming
Can't export the trades! They can bring in the illegals though...
Avoid Bank of America like a plague. I hope people quit that company.
As a person who has a 6 figure role in logistics and works from home I call bullshit. I manage distribution for 700+ retail locations out of my company’s 1500 both in the lower 48 and AK and HI. My team crosses time zones and after work I’m still on call. I’m on call every day of every week. Being in the office and being “busy” isn’t the metric of success. Most people are doing task oriented jobs. If they fall behind on those tasks, fire them. My job is to manage dozens of people in many places. I have set my self up for success by throughly training my team. Am I busy for 8 hours a day every day? Nope. Are their times when I work for I kid you not over 24 hours? Absolutely. I do what is needed. I’m glad a work for a manager who cares about results and not where they get done from.
Yes!
My (GenX) colleagues prefer WFH because 1) mental health - easier to deal with toxic co-workers when you don't have to see them 5 days a week. A two day break works wonders preventing you from "rage - quitting". The night before WFH is like a night before a day off- get drunk/high and wake up late cuz you aren't coming in physically. You feel RERESHED in the middle of the week. Priceless. 2) Don't know about GenY2K or GenZ but GenX have families and lots of life errands to run and WFH days are the best ways to get them done while still doing work assignments. 3) Cuts down tremendously on costs for commuting, clothes and lunch.
I work in banking and have worked from home since COVID, I got a promotion and raises. I also have never watched Netflix or done anything else that wasn’t work during the work day.
The employees that screw off while working from home find ways to screw off while in the office.
It isn’t a work from home issue it is a quality employee issue.
Bingo, couldn't have said it any better. Bad employees are bad employees. Back when I was in an office five days a week, I worked with the most unproductive jackoff known to man. Guy would openly admit to only doing any "real work" from around 10 - 2. Every other minute was wasted chatting, streaming the US Open on his second monitor, a 2-hour lunch break, etc.
I've worked from home since 2015. People who have integrity do the right thing even when no one is watching
Spot on. I'm in investments myself. Zoom is the overwhelming choice of clients
There's 0 loyalty in banking..I've been laid off from 5 major banks fuck the fintech industry
Exactly this! More time wasted with commuting, coffee breaks, going to lunch and people interrupting you to chit chat. So many weird takes on this. WFH or not no one is getting away with not doing their job and expect to keep it
Companies who figure out how to function with Work at Home, have the advantage of not paying for the office space.
Facts but a lot of companies own the space and I guess they can’t get anyone to rent the space 😂
Paying for office space for employees that report to work is the cost of being a functioning company. I am no fan of BOA, GS, JPM, et. al, as us taxpayers bailed out Ken Lewis, and the other CEOS and their gang of corporate welfare queens back in 2008/2009 during the Bush-Obama administration. But when the condition of employment is to come to the office, then go to the office, or find other means of making a living.
Most arent actually having issues with remote work, but its better to use remote work as an excuse rather than announcing layoffs. They want to see if people quit instead
Everyone I know that worked from home during covid said they were less productive. They even admitted they got a lot of work done there house, painted the inside.
Yup
Remote work is not lowered standards, it's the best way to increase efficiency and lower business costs. If Employers cant hack it, it's because they have broken project management systems and weak, ineffective managers. Don't blame employees for poor structure and outdated business practices. This is not 1955
Wfh is way less efficient period. People are lazy and they dont work hard when they have noone looking over their shoulder. If it was cheaper to wfh for the business then they would be all for it as they are in business to make money
@jonathanscheib6480 lol, anecdotal nonsense from the Ford era and not at all what the data shows. If that's what you think, then hopefully, you're not anyone's manager.
I hate corporate culture. Working for Bank of America sounds like a prison sentence
That's because it is!
Wtf man. You can just say “I quit” and leave.
Try it in prison😂
@@allenefremov9459 EXACTLY!! You are not a tree, if you don’t like where you are then move 🤷🏽♀️🤷🏽♀️
Many of these people working from home probably make $100K+. Prison sentence? Ok. If you don't like a corporation's mandates, find a new job or start your own gig. Man, people have become spoiled.
It is. I worked there as a contractor. They would hire people for 12 to 16 month contracts. If they liked you at the end of that time they laid you off for three months then brought you back for another 12 or 16. If they did t like you, you were called any given night at 8pm by your agency and told you were no longer needed at the end of the week.
I do agree with Pat that WFH works for some jobs, some roles, and some people, not all. Company I work for provides IT services. It works for us. We sold our HQ building and no longer have to worry about property taxes, utilities, and maintenance (we owned the building so no rent) and took that money and used it elsewhere in the business. Our company is set up for remote work with VPN, cloud, and other collaboration technologies. WFH means we can hire people from all over the country, which gives us a huge competitive advantage. If you're unproductive working from home, you get written up and then fired and that's it.
Absolutely
Most roles can work in a WFH format. Pat doesn’t agree with WFH because he is part of the ownership/CEO class. He’s just another corporate shill.
Preach
Yeah, my company’s record profits during WFH disagrees w Pats view
FACTSSSSSSSSSSS!!!!!!!!!
This is the first and only topic I have disagreed with Pat on... WFH / remote is Nothing new, especially in the technology sector & most recently (prior to covid) customer service sector. The company I work for is one of the largest in the entire world and they said they can't afford to bring back anyone who is not customer facing. Been working from home for 30 years... I've done it at the office too, you want to talk about distractions! Pat... everyone has Broadband now. It's a game changer. 😆😉
Right. And aren't the politicians telling us to not drive much anymore because co2 will kill us all if the concentration goes up 1 ppm more? Should WFH be a strategy to save the planet?
WFH is permanent. Some people will be higher productivity, some will be lower. Let the chips fall where they may. But pretending that commuting doesn't consume 10+ hours/week is absurd.
Beep Bop Borp
Plus I thought the Big Heads were trying to tackle "climate change" and that people driving/commuting less was part of the plan. Oh, I guess not.
Companies determine it, not employees.
@@happyappy19931 I'll remember that sentiment the next time there's a big union labor dispute.
The employees determine it. They can all leave.
As a software engineer that works remote, I get to work two full time jobs from home and make a C-Suite salary. A lot of sales guys play that game very well too and I don’t blame them. Can’t do or make that kind of money working from the office. This really pisses office wagies and managers off. They absolutely HATE the idea of those below them having this kind of freedom and opportunity. It’s a power and control thing. Full stop.
Do you work 2 full time roles at the same time? Or do you mean you contract for 2 clients “fulltime”’at the same time?
@@macacovelho94 I hope he means two jobs that are aware that he has a second contractor / employer.. It's in a lot of contracts when you become a W2 employee that it is the only W2 that you have. A lot of companies just don't care enough to try to sue people like this, even though they are basically committing fraud.
I have a W2 job and then I also am self employed where I license software I wrote. W2 takes precedence over my self-employment work and I don't really work on it until after hours. My self-employed income is only half of my W2 salary
@@Lolatyou332 I've been in nearly every combination of what you and macacovelho mentioned. Also been in your self employed + w2 job and handled it similarly. I don't do contracts that make you sign any non-compete bs, but I've found that most don't put those restrictions when hiring in my area. At least not ones I've worked with.
For jobs that do have non-competes, they're always full time roles. I generally disregard them but made sure to make them a priority as to not draw any attention. The only line I won't cross is working for two competitors, as I believe that's something an employer will actually take legal action on, and it's a bit dirty, even for me to consider.
You are right. Most decisions are money or control. Nothing is for the better.
When I worked for BofA during COVID times as an in-house IT support desk analyst, they had all of us at home. At the beginning of 2022, there were talks of us coming back in, and by April they were forcing all of us to come back in.
Now, with my position it didn't make sense for me to be in the office. All of my job was done online/on the phone supporting BofA employees and we weren't allowed to step away from our desk for more than a couple minutes unless we needed to use the restroom or during scheduled breaks (3 including "lunch"). At the office I would be subject to those same rules. So why force me to drive 30 mins into work and 30 mins back to my family to do the EXACT same job...? The only reasoning they gave was that it was hard to have team cohesion since we didn't see each other's faces all day. Dumbest thing I heard and I knew I had to find somewhere else 😅 Luckily I did pretty quick and now I'm an IT Admin for a local charter school!
Had the mandate been for someone where face to face communication was needed or literally anything else other than a support position, then I get it. But I felt manipulated into doing something just because someone at the top needed people in the office in order to watch their every move and to justify the space they paid so much to build.
All my managers do is cause confusion and stress. We have a manager that will give clear requirements then when you do it that way, he changes it and makes you do it over. And he expects it to be done in a few hours when really a week is more realistic. Middle managers are of no use.
People asked to come back to office should be paid additional compensation than those who work remote WFH - for transportation, food, fuel, insurance, formal clothes, commute time etc...
How about those employees get a cut in pay, bc they no longer have all of those expenses, that's why they got paid what they did.
Or the corollary: a reduction in pay for WFH, due to not having those expenses.
@genxx2724 HR and management will find it challenging to reduce the pay for those WFH, especially in a profitable company. So, pay extra for those being asked to come back physically on site.
@@thomasjeffersoncry see my comment above.
@@striker44 Salaries of people who WFH and moved to states with a lower cost of living are in fact being reduced.
I was one of those in the office guys. When I use to do software deployments remotely in Singapore, India, Australia and New Zealand I would go into the office at 10 PM at night and work until 2 or 3 AM. Covid hit and I wasn't so sure it would work. I have been more productive than ever. I can adjust my hours and gets stuff done. Getting rid of the morning and evening commute saves so much time and money. I can get up at 6 AM and get my offshore teams in Europe and Asia going and not have to wait for me by 9 AM. I can either get my 8 hours in and finish by 2 PM or I can go run an errand, take a longer lunch or break and work until 5 PM. If I work over 40 hours this week I have the flexibility to adjust my future week in the month to be in compliant with my 160 limit on the contract. I never thought I would be this productive. I think the only reason I would go back into the office if I had junior staff to mentor. Being in person is a better way to mentor.
Old Slave mill keep on grinding through😂
If people can do their jobs virtually i hand no problem with that. Avoid traffic, less gas expense, less wear and year in the vehicle, less interruptions, less having to pretend you like the person next to you, etc. Plus it reduces overall operation costs to the business.
I do not like BOA, at all. Would never do business with them, but for other valid reasons.
I got diagnosed with cancer while WFH. It would have been nearly impossible to work in person while going through treatment and it was hard as it was.
There is no way I’d ever return to the corporate cubicle office. I’ll never go back. Life is less stressful.
Agree. Hearing Pat describe people working from home as constantly being distracted is amazing. Sure, some people take advantage of the situation, but most people recognize it as a privilege they would like to preserve.
@@batman9512 hearing both of these people in their comfortable lives making money sitting in chairs and yapping into microphones saying WFH is lazy, is insane. I've never been more productive than when working from home and my performance reviews and salary increases each year proves that. I'm not wasting my valuable time and money (and paying taxes to commute) to commute to the office. Losing my valuable time and mental well-being, and jeopardizing my safety on the god-forsaken DC Metro 5 days a week, 15 hours a week! ... to have people stand at my desk and waste my time talking all day about their kids and weekend plans, so that I have to work late and sometimes on the weekend... what absolute drudgery. These two men are clowns. Bad employees exist whether working from home or at the office 50 to 60 hours a week. That's what performance reviews and employee metrics are for... you can tell these two men have no f'in what they are talking about. They don't understand Zoom and other technologies... no one is kicking it with their neighbor all day while working from home. These clowns.
I love working from home because I save money 💰, I spend more time with my family, and the extra time I save driving to work is used on going to the gym.
I fired everyone that refused to return to the office
@Doc_Holiday good for you. See how it works out for you.
To give a perspective. My Son’s Boss “talked to him” about his not traveling enough. When he was told his Father had brain cancer, he was OK with him working out of the office. That was 2016, when my Son worked at UBS. My Son got lucky. His Boss was understanding, because in the past he faced the same problem.
This is why teachers fought so hard to stay virtual. They loved sitting at home with their feet kicked up, leaving young children in "breakout rooms" for long stretches of nothingness so as not to have to deal with them.
Working from home is not a low standard.
I don’t have Netflix. I don’t have my fridge freezer. What I have is a professional work ethic. One of the good things to come out of the pandemic was flexibility. I also don’t have a 2 hour commute each way every day. We’re always hearing complaints about people not having families. People didn’t have time to have families because of corporate culture. The ability to WFH brings that flexibility
Oh this is so freaking funny. When my company started to require folks to come back to the office the hell that was raised. I can’t guess how many people quit and even after all that they still haven’t gotten everyone back.
I love commuting to my Manhattan office waking up 3 hrs early to zoom my team from Florida.
There's a pretty sizable cohorot within the western population that thoroughly enjoyed the lifestyle that came with Covid. They couldn't get enough lounge wear, home delivery, and booze with Netflix. It's a pinnacle reason for why the whole ordeal went on as long as it did.
I totally agree, and probably responsible for "anxiety" or other mental health issues that started to spike
If you are a good worker, you work better at home. The office is a distraction
Agree! My commute used to be 2 hrs, to and from. I am more productive at home. I do enjoy coming in to the office once a week to see my colleagues 😊. It’s a good balance and I’m very blessed to have a manager who is very flexible. She’s not a micro manager as long as I’m doing my job, every one is happy.
Customer service calls in my opinion have gotten so much better since COVID. They used to sound mad and you could hear tons of people in the background. Now everyone sounds chill and its quite. Just let people stay at home and enjoy themselves.
😂😂😂Now you just hear the chaos at their home😂😂😂😂😂😂😂
Wow did Covid lockdowns ever backfire 😂
It did exactly what they intended it to do, crush our civilization as we know it in order to rebuild it as a worldwide communist hellhole.
No shit
Sure did!
@dahj. Agree. On a weekly basis, I call various customer service #’s. While representatives are talking to me, they’re watching TV, I hear Barking dog or they’re taking care of family. As soon as I hear a baby crying in the background, I know that Customer service Rep isn’t going to help me at all. I guess they feel like since their manager isn’t at their home, their behavior or call won’t be monitored.
All part of the plan.
Corporations can't control you when your not there. Always remember this very important f act. A free people cannot be contolled. That pisses off those who want total control of you.
Exactly
Well yes obviously if they are paying you for your time they get to decide how you spend it. When you own your own labor then you get to call the shots.
No. They don't own our time. That's slave talk.
@@darksideblues135 You don't sound very bright, so I think we'll just leave it there.
If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you... prevent inflation
A lot of people still make massive profit from the crypto market, all you really need is a relevant information and some ‹professional advice. ‹it's totally inappropriate for investors to hang on while suffering from dip during significant
No I don't trade on my own anymore, I always required help and assistance
From my personal financial advisor
She interacts on whats- App
Whats~App
I work for a large aerospace/ defenses company. I left supply chain and went into IT (within the same company) 2 years ago (at 44 yo). I got a 23% raise and rarely ever have to go into the office anymore. Im working thru the process for my next role which will be another 15% raise and remote. Life is good. I have the best of both worlds since HQ is very close to me, I can go into the office whenever I need to, there’s just never any need to!
It has nothing to do with "low standards". Working from home isn't a "low standard". Very ignorant.
totally agree! wth is wrong with this guy?
@@mardigrasqueenofthesouth8847 I'm with you lol. What a crazy, elitist commentary. We're LAZY for working from home, said the guy sitting on his a$$ on a mic in a studio, although we do the same exact thing at home that we would do in an office-- sit on our a$$es (like those dudes) in front of a computer.
I used to work for Wells Fargo , boy do I have stories to share
Bruh, it's wells fargo. They're always in the news for negativity, I don't think you gotta tell any "stories" lmao
go ahead hun
If you’ve lived long enough we all have company stories.
I've heard horror stories about working at Wells Fargo, what was your worst?
They likely want people back in the office to make more money off of their employees. If the employees are not physically at work they're not forking over parking money, buying lunch in the cafeteria or at the little restaurant the employer also owns located in their building, buying coffee at the little coffee stand in the front lobby, etc. It's all greed on their part and has nothing to do with physically making more money off of the actual business their employees were hired to do. Most people hate "workplace culture", and to even have that workplace culture time is being wasted talking to each other about nothing related to work, dealing with cliques or people who don't want to actually get the job done. Far easier working from home without the nonsense. And I say this as a traveling nurse. I don't get the luxury of staying home to work so it's not like I'm biased. I have worked in an office as a case manager where I could have worked at home and nothing would have changed except I would have saved 3 hours of my time not sitting in traffic and I would have saved more money.
Even an option for like 1 or 2 days a week, with the understanding of reviewing productivity of those employees on those days, it should be an option. Sorry, my job, to an extent, can be done at home.
Letters of education.... Anyone else catch that???
The bar has been lowered so far down that a company actually gets pushback for having employees show up at the office… LOL
My favorite thing recently at my work is a big push for employees to go back to work while the bosses sit at home. "Hey, can you go into the office 5 days this week?" while they sit at home for months at a time. It's nothing to them but life changing to you.
That actually sounds like a great deal. Sounds like a more relaxed work place. When the cats away the mice come out and play!
Yeah and they make these “business decisions” on the golf course
Be a boss.
Cause their board members all have commercial real estate holdings and they are losing too much values on their buildings
nice take
Bingo.... Businesses didn't plan on the massive shift to work from home and now their liabilities are catching up with them. That's their own problem. Adapt or go out of business
Patrick went from a 3 piece suit to t shirt and hoodie Hahahhaha
I supervise 50 people for a business of 24k employees in offices located in 2600 US counties, performing services on the ground. We are mostly remote since covid. Productivity went up almost 40 percent. I just got #1 supervisor of the year. Remote can work as possibly applicable... when you want it to.
Exactly, as an engineer who works mostly from home, it's much more productive. Less meaningless side bar conversations, etc.
I’m an Operations Manager in Financial Services and I work EXTREMELY hard from home. I’m highly effective. I will never return to the office, and I’ll never be asked to, because my work ethic is my leverage. Work ethic is hard to come by. Create your own leverage, folks!
guessing you're a single woman with no kids
@@lolbots 'she' has a fur baby
@@lolbots What’s your point?
@@courtjester1135 What’s your point?
@@jillroh you are an unfulfilled corporate slave. You have no standing to give advice.
GO back to the office once BoA gives back all their tax payer funded bailout money
If we are going that route then no body in a major corporation would work.
What does that have to do with anything?
BofA HR employee identified 👀👀
We are permanently working remote since COVID, it worked so well. Some people have a great work ethic in any environment.
In the "olden days" if you didn't show up for work, you got fired not a nice letter🤷♀️
They are working though. Just working from home and if productivity and performance hasn't taken a hot than there isn't an issue.
What a stupid take
In the olden days it was just a few people not showing up. Now it could be thousands. And many of those are high performing employees. Companies would have to be retarded to just mass fire everyone.
@@aba192 💯
@@aba192 😂 you must "work" from home
I still don't fully understand the requirement to be in the office for 3+ days a week. Nobody likes it, even management at most companies.
I don't know what Pat is talking about. I've been WFH since I started my career 10+ years ago, I get my work done by or before the deadline. I get my raises, I get my promotions. Pat has the mentality of a boomer. Times are changing, old man! You want to run your company that way, that's fine, but don't expect that everyone else is going to align with your mindset. I pay a couple of contractors to do work for me as well, they live on the other side of the world, they're WFH too. They do great work for me and I value their contributions, they are not lazy or unambitious.
Companies are Woke until they are not.
There are points I agree with and some that are completely wrong. There was once a time where people worked 12-16 hours a day, 6 days a week. When they asked for 8-hour work days and weekends off, the entire world thought they were out of their minds and that the status quo would never change.
As technology advances, we should be adapting our workforce to make the best of it. Companies paying for giant office suites is ridiculous when 90% of the workforce can work from home. Just keep a high standard for performance and the slackers will weed themselves out.
AI will change things up also...maybe not this year but it's coming.
@@tom-fi2yp incorrect. But you keep believing that.
@@gridtac2911 TY. That idiot believes that wfm is an inidcator or whether or not AI can replace a role 🤣
great stuff!
What? I didn't know that anyone was still working from home in 2024! Holy cow. I only worked from home for about 3 months in 2020 due to covid. Why would people still be working from home now? That's incredible!
These people need to be held accountable for their actions against humanity.
🙄
If you mean the Millennials, I agree.
How dare you criticise Adam
Well said turtle, I'd say you're a scholar not some basement dwelling freak
Bank of America 🇺🇸
“Go back to work”
GET BACK IN THE OFFICE !
no
I 100% agree that a minority of people are consistently effective from home. I have worked from home for many years. Over 10 years. Currently, I'm in an editor role. I am constantly dealing with other employees not showing up, doing the bare minimum, etc. Most people do not have the willpower to do it and need the social and cultural pressure in a group setting to do the job.
Wife’s had worked from home for over 15 years. In this latest job alone, she’s promoted four times in one year and asking her to apply for another job in the company.
Bank failures are likely to continue increasing due to rising interest rates, as it causes their commercial paper and treasuries to become devalued. To prevent a severe economic downturn, it is necessary to implement a freeze on interest rates. Simultaneously, the White House should support the industry in boosting gas and oil production to lower fuel prices. The anti-oil stance only contributes to higher energy costs, leading to inflation throughout the economy. By reducing interest rates, tightening the money supply, cutting government expenditures, and increasing the availability of affordable fuel, inflation will decrease, and the economy will thrive. Unfortunately, various conflicting agendas make it unlikely for all these measures to be implemented, resulting in a recession and persistent inflation.
In light of the ongoing global economic crisis, it is crucial for everyone to prioritize investing in diverse sources of income that are not reliant on the government. This includes exploring opportunities in stocks, gold, silver, and digital currencies. Despite the challenging economic situation, it remains a favorable time to consider these investments.
The pathway to substantial returns doesn't solely rely on stocks with significant movements. Instead, it revolves around effectively managing risk relative to reward. By appropriately sizing your positions and capitalizing on your advantage repeatedly, you can progressively work towards achieving your financial goals. This principle applies across various investment approaches, whether it be long-term investing or day trading.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
Please can you leave the info of your investment advisor here? I’m in dire need for one
Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Been doing sales for about 15 years now been involved in this industry for over 25. If you’re not visiting your clients in person making moves in contacts you’re not gonna sell nowhere near what you should you have to be in the office and you have to be meeting with your clients, Customer Service is number one over everything
Most people are totally okay with working from home, both parties agreed to that. Now there is a problem. Now they are demanding "Come back to the office or else". What do they offer besides threats?!!!
I think there are definitely different levels of employees. Some ae in outside sales and every minute they get stuck in the office they are unproductive. Schedule a meeting 2x per month and keep them out there. Copy writers, corp. lawyers, and lots of other professions can be handled on a similar basis. General office employees who keep the place running really do need to be in the office. They need to deal with issues that always arise and need immediate solutions.
I strongly disagree with Pat regarding the interruptions - I've had far less working from home. The major downside from remote work for me has been not being able to walk to someone's desk/office/cube and ask a quick question to get something resolved quickly. I hate having too wait for the more critical things to get resolved. I have nearly zero interruptions at my apartment, and the bathroom and kitchen are VERY close by. I'm back to my desk in seconds :) My jobs have been accounts payable and IT consulting.
I just had a recruiter reach out asking if I'd consider moving across the country for a temp job with BoA. Makes sense now.
PBD: I worked as an engineer in the office for 30 years, and then as a systems engineer at home for 5 years. I had my office in my basement in a rural area facing the back of the property. There were no interruptions, and I typically worked 50+ hours per week. How well somebody works from home depends on their integrity and discipline and situation. Some will be more effective at home, others not as much. Likely most will not have the integrity or self discipline that is needed to be more effective at home, but some will. Depends on the person and the role and situation.
PBDs bias is showing all too strong here. He equates ‘lowering the standards,’ with WFH flexibility. I work for an engineering firm - I am WFH, my production went through the roof as did many at my firm. If being in the office is imperative because…it just is…you’re going to lose quality people.
He excluded engineering
I work for an engineering firm, I’m not an engineer though.
We're losing people because the standards are impossible at my job. Don't get me wrong, high standards are absolutely necessary. However, it's not life or death and when someone makes a minor mistake they get threatened with termination rather than shown how to improve. It's absolutely ridiculous. Then they wonder why morale is low. Well... because everyone is scared they'll be fired. You can't work like that all the time.
I see both sides. This March will be 4 years of me working from home. My type of work can be done from anywhere but if I were customer facing, I'd have to be in the office.
Working from home reduces pollution !!
Thanks, this was a great show, depends on the job
At least 3 days a week, lol seriously...what about 5 days a week like a normal person has to do
Why were they ever letting them not show up to work lol
I know a woman who was working from home and would post on Facebook that she was out at 2:30pm picking up dog food. I knew this would never work. I also know a woman who used her Covid checks for a breast augmentation. People tend to take advantage. Period…
A significant percentage of employees are not good at working from home. As business owners we would LOVE people working from home if it was working.
My organization is thriving Working from Home top leadership has luckily embraced it. As a Lead Engineer with 16 engineers under me, they are doing much better from home. My approach emphasizes results and accountability over traditional management styles (cough micromanagers cough). My guiding principle is straightforward: as long as team members are meeting their objectives, attending meetings punctually, and adhering to deadlines, how they manage their time is 100% at their discretion they can play XBOX for all I care. I've had zero turn over and morale has been higher than ever. Now this doesnt apply to all types of work, Im sure in sales/customer facing is different (Im not in sales) but working from home can absolutely work for many with the right leadership style.
Yup this is the way. There's no need for people to have this slave mentality anymore. Do your work, satisfy the expectations, and then manage your own free time. If you get it done in 4 hours then you're just efficient. Employers shouldn't be complaining that you're not slaving your fingers to the bone "because"
1:18 It’s also unfortunate to raise a standard that also endangers their employees. Amazon is also having this problem. BofA’s headquarters is in downtown San Francisco. Amazon’s is in Seattle. I’m sure both won’t allow to conceal carry. Also, so many people don’t live near their offices any more or even in their states. They sold their homes, left for greener pastures, and they want to stay at home instead of going to offices that no longer have places to eat or pick up a prescription.
BoFa moved their headquarters to Charlotte, NC a while ago.
The employee should all demand a raise to cover the cost of traveling to work. The banks are directly responsible for inflation. Let them compensate you.
The government is responsible for inflation. Lol
I have no friends, kids, dogs, neighbors and zero distractions. I will only return to the office when I am compensated like a CEO or VP.
My friend just got a big promotion and raise in salary. She’s worked from home for past 3 years. She set up a real office, she sees a few customers there and she’s done incredible. She’s a workaholic, she works all the time. If you want to speak to her, let me know! She’s just a powerhouse worker and the company knows it. They love her….
BofA is the Blockbuster of banks, does anyone actually go into a branch anymore?
You evidently never seen old people right?
Notice the thumbnail says “not coming to work”. The letter is about “not coming to the office.”
The inability to make the distinction between the two is the heart of the issue.
The issue with all of this is that everyone woke up. You want me to come back into the office? Pay me more because I’ve been enjoying years of saving on tolls, gas, and commute times. Whether you like it or not, you need to incentivize people to come back into the office. Companies for years got away with chalking up tolls, gas, and commute time as an “employee cost”, well now that’s no more. With inflation out of control, companies need to stop being so fucking cheap and pay up
Everyone's all for working from home until they want to monitor your activity and productivity in real time 😂
Yup. I work for a major financial institution and they let use work from home 2 days a week, and let top performers work from home 5 days a week and paid for a business internet line for them.
After about 3-6 months they realized productivity was down and started taking away the 5 day WFH of people didn’t stay in the top 10%.
Wouldn't meeting deadlines be a metric? What if a person can do a weeks worth of work in a day? Why shouldn't they be able to get another job and work from home? If you work quickly, they won't give you a raise. Or if they do, its 25 dollars extra a week even though the worker is saving the company tens of thousands of dollars by getting things done faster. That's where the exploitation is.
@@darksideblues135 If the employee in question is making the company 10's of thousands of dollars without the need to be in the office setting that's fine, that's a minimal percentage of the people who actually want to work from home 😂 Seems to me like anyone working a salary job simply wants to work from home.
Read the comment above yours. Working from home should be a privilege granted to those who can complete and exceed company expectations outside the workplace environment; consistently. That being said there should be no issue when your company wants to track your work activity on your computer and see just what you're doing on thier time and how productive you are.
Remember a company is paying you for time, regardless if it's salary or hourly. You might think it's "slavery" but once your employer pays you for your time, you are thiers to use within your current job description. That's how employment works.
L take
@@Based_Comment If by L you mean Logical, sure 😏
I love risking my life driving in traffic to take teams calls in a cube farm. On my way to a promotion! Guess what? Since I worked from home in 2016, I have been promoted 6 times. I have 0 desire to move up anymore since RTO. I’ve decided to move on!
Exactly. I’ve promoted 4 times in the last 3 years of remote work and job hopping. Companies are not going to respect or promote those that work in the office any more than remote workers. They always fill promotable positions with external candidates anyway.
@@based_circuit because they're cheaper.
My brother has a saying - "Dicking around at the office is a lot different than dicking around at home". Companies and supervisors are finding this out the hard way.
Good job guys!
I sold way more insurance from home than work .
Hypocrisy could not be more clearer!! These corporations don’t deserve any sort of respect in the way they treat their employees!!
Does BofA realize they can just fire them?
I understand what PBD is saying. A lot of my colleagues have become lazy since COVID, but my company expected us to answer even at night time if we were all home. Now, a typical day for me is 9-7pm while in the office it used to be 9-5pm for me. There’s also more work since we haven’t hired anyone in 3 years.
Let’s go ahead and short the stock
LMAOOOOOO agreed
The workplaces that converted their spaces into big open rooms where every employee has to search for a spot to work every day, hear everyone else’s noise, and deal with everyone else’s food debris in the wastebaskets under their feet, have created an environment in which employees would do much better at home.
BUT, that's a much more collaborative environment. /s
@@courtjester1135 It just occurred to me. these ridiculous work environments are the reason they need crying rooms.
I wouldn’t work for Bank of America nor will I bank with Bank of America. This is the worst bank in the USA
I worked there for a few years in the late 2010’s and it was a joke. I worked in cybersecurity and they frequently had us stop and pull away from all the work we were doing to attend lgbt ally meetings in the presentation room. So much nonsense. I’m sure its 10x worse today.
15 years ago I worked remote for a large insurance company. Reports consistently showed that the remote workers production exceeded those in the office. Fast forward post pandemic… remote workers are not performing…righttttt
The current bank crisis has me deeply concerned. If a major bank like SVB can experience difficulties, it's reasonable to worry about the impact on other financial institutions. I'm aware of someone I know who operates a rapidly expanding startup, and they were severely impacted by the bank run. Consequently, I withdrew over $340k from my own account, recognizing that FDIC coverage is limited to $250,000 and a potential collapse could have far-reaching consequences. At this point, I'm considering investing in the stock market. I'm wondering if anyone has advice on how I might proceed with this plan.
I believe SVB was making an effort to reorganize their bond portfolio. Yes, they would lose money if they sold their low-yielding bonds. But, they were trying to make up for it by repurchasing bonds on the open market at the higher interest rate.
Although the economy has so far held up, the SVB scenario serves as a warning that Fed rate hikes are still having an impact. At times like this, investors must be vigilant about the next inevitability. You don't have to act on every forecast, therefore I'll advise you to hire a financial counselor. This has been my fallback position for a while.
How did you achieve it? I been trying to stick with index funds. I feel this new interest rates hikes could crash this economy. I'm looking out for a better investing strategy, I have a lump sum that inflation is steady eating up.
Definitely! All of this happened in less than a year after Stacie Lynn Winson told me what to do. I started with less than $100,000, and now I'm about 17,000 short of having a quarter million dollars.
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
The proper response is YOU'RE FIRED.
I work there on the private side of the bank with Business Banking, revenue producing. It is so much worse than just this.
My friend works for geico and they did the same thing. These companies are getting greedier each year.
No offense
I know someone who works in a department with no customers.
I don’t think it’s low standards
Management in higher positions are all home.
I think tellers and anyone in banking should be there because they have to see the customers.
Fck em.
Insane