The big head of the National Bank (NA) is concerned about the impact of teleworking on downtown Montreal’s vitality, but intends to maintain a “flexible” approach to his employees in terms of their presence in the office.

Even after the relaxation of health measures, the mass adoption of teleworking has been particularly difficult for small businesses in the inner city. This situation worries the President and Chief Executive Officer of the National Bank, Laurent Ferreira.

“I’m concerned about downtown Montreal and I think the business community has a very big responsibility to ensure the dynamism of Montreal’s ecosystem,” he replied in an interview on the sidelines of the financial institution’s shareholder meeting.

However, Mr. Ferreira does not want to impose anything on his teams for the time being. “We want a flexible approach. We want teams to organize themselves and decide when to meet and work together.

The approach would contrast with that of the Royal Bank, which requires its employees to work in person three to four days a week, depending on the nature of their job.

The National goes with the suggestion of being face-to-face 40% of the time. Mr Ferreira admits he would like a “better balance” that would result in a larger presence in the office than that threshold, but he has no intention of imposing it on his troops at this time. “I mention it in general for the business world.”

As an employer, National, with around 12,000 employees at its Montreal headquarters, plays an important role in inner-city transport. The bank will also gradually move to a new tower of about forty floors starting in the second half of this year. The project, announced in 2018, represents an investment of more than half a billion.

The introduction of teleworking sparks a debate in the business world. While some organizations see it as a way to attract employees, others fear physical distancing will hurt productivity and create a sense of belonging.

The manager replies that teleworking has not had a negative impact on the productivity of National Bank employees. The dynamism of downtown is actually the motivation behind the banker’s concerns. “We like it when you come into town and the restaurants are open, the cafes are open all the time.”