It was bound to happen sooner or later. And now it has: a head-on collision between the generation that sees face-to-face work as a guarantee of productivity – the belief that ‘the more hours I sit at my desk, the better worker I am’ – and the newer wave of employees who have grown up with hybrid work and consider it a valid way to balance productivity and well-being.

The disagreement came to a head in the banking sector just days ago. Jamie Dimon, CEO of US banking giant JPMorgan Chase, openly expressed his frustration with Generation Z employees and their approach to remote working. He criticised young bankers for being distracted during virtual meetings, frequently texting and checking emails during Zoom calls.

Dimon also dismissed the idea of ‘work-from-home Fridays’, arguing that many employees were simply unavailable on those days.

His firm stance reflects a broader trend among major US corporations, which are increasingly pushing for a full-time return to the office, citing concerns over efficiency, collaboration, and workplace culture.

JPMorgan Chase, for instance, has mandated a complete return to in-office work, despite employee protests in favour of hybrid arrangements.

Dimon’s message was blunt: those unhappy with the policy were free to leave. “You have a choice. You don't have to work at JPMorgan,” he declared, as captured in the now-infamous audio recording of a town hall meeting.

Australian banks maintain their hybrid approach

While major US banks are phasing out hybrid working, Australia’s top financial institutions – Commonwealth Bank, NAB, ANZ, and Westpac – are sticking with it.

These banks recognise that hybrid working has become a key expectation among employees, particularly in the financial sector, where flexibility is highly valued.

Commonwealth Bank and ANZ require employees to work in the office at least 50% of the time. An ANZ spokesperson explained that in-person collaboration strengthens team connections and enhances professional development.

However, the bank also acknowledges that hybrid working helps employees balance their professional and personal responsibilities more effectively.

This contrasts sharply with JPMorgan’s rigid stance, highlighting a cultural shift in which Australian institutions are more willing to adapt to the changing expectations of the modern workforce.

Hybrid and flexible working more than just a trend

Today, some three-quarters of Australian workers prefer the flexibility of working across multiple locations.

But while many employees have embraced remote work, managers remain concerned about productivity, as well as the challenge of maintaining workplace innovation and culture in a hybrid model.

For many leaders, deciding the next steps in this evolving work environment can be overwhelming.

This shift, however, isn’t just a passing trend – it marks a fundamental change in employee expectations and workplace dynamics.

According to PwC’s 28th Annual Global CEO Survey, 45% of Australian workers believe that shifting attitudes towards remote work and employee benefits will reshape the workplace over the next three to five years.

The report shows that hybrid working is the future in Australia and that companies that fail to meet employees’ expectations for flexibility risk falling behind – especially in a competitive labour market where 60% of Australian CEOs plan to expand their workforce.

These figures highlight an urgent need for companies to rethink their labour policies. Employees who enjoy greater autonomy and work-life balance through hybrid models tend to be more engaged and productive.

Experts weigh in on flexibility in Australian workplaces

The hybrid and flexible work debate has drawn the attention of workplace experts.

Politician, economist and emeritus professor Barbara Pocock, for one, has been an advocate of flexible and hybrid work for years.

For Pocock, the example of the four-day workweek – where workers earn 100% of their income but for 80% of the hours – benefits Australians across demographics.

Apart from ensuring workers don’t burn out, the arrangement is also said to improve gender equality in the home.

Overall, employers who champion hybrid and flexible work are also able to maintain, if not enhance, their productivity levels.

The setup can be a win-win solution for Australia.

“Both employers and employees can benefit from flexibility,” said John L. Hopkins, associate professor of management at Swinburne University of Technology.

“For employees, it’s about improving work-life balance, with one-third now willing to forgo a 10% pay rise in favour of flexible, reduced hours, or a compressed work schedule,” Hopkins said.

“For employers, the benefits are attracting and retaining top talent, fostering a positive workplace culture, and being able to adapt to changing market conditions with a skilled and engaged workforce.”

As the battle over flexible and hybrid work continues, Australian banks appear to have chosen a path that prioritises both business needs and employee expectations.

“By understanding the interconnection between these needs, firms can create a work culture that recognises employees have commitments and interests outside work. This can help employees achieve better work-life balance,” Hopkins said.