Bank of Canada reveals new remote-working policy

Central bank prepares to reopen its offices once health guidelines ease

Bank of Canada reveals new remote-working policy

The Bank of Canada will allow most of its employees to work remotely as much as 50% of the time once public health guidelines allow it to fully reopen its offices.

A limited number of staff are currently working in the central bank’s offices in Ottawa. The coronavirus pandemic has eased in Canada, with vaccinations rising and cases dropping, so the bank expects to bring back many employees after the summer. But it doesn’t see a return to normal conditions until 2022, an official said.

“More employees will be allowed access over the fall, in line with federal and provincial public health guidelines. Based on current conditions, we are not anticipating full on-site staffing levels until the new year,” Chief Human Resources Officer Alexis Corbett said in an email. The 50% guideline will be measured over two-week periods.

Financial institutions across Canada have been slow to issue return-to-office plans after the country’s main banking hub -- Toronto -- experienced one of the longest lockdowns in North America.

This week, Canada hit a milestone with more than 50% of its population fully vaccinated against Covid-19, according to CTV News, surpassing the U.S. rate. That’s allowed most provinces to relax restrictions and boosted confidence that businesses will soon be able to return to more normal operations.

As firms reopen, however, they face decisions on how quickly to bring back workers and whether to allow hybrid arrangements like the Bank of Canada’s plan.