Goldman Sachs knows the way to a bankers heart is a free meal

By Deirdre Hipwell, Aoife Kearins and Damian Shepherd August 7, 2021 â€" 11.45am

Companies from Goldman Sachs to Havas are hoping the way to their employees’ hearts is through their stomachs as they try to lure staff back to the office.

At Goldman Sachs, free breakfast, lunch and ice-cream are part of the pitch to convince employees from London to Hong Kong and New York to leave the comfort of their homes, where some have worked since March 2020 when the pandemic took hold. One of the most vocal proponents of bringing everyone back even allows those meals to be enjoyed on Plumtree Court’s landscaped roof garden â€" once reserved for clients and visiting royalty.

Office workers walk near the Goldman Sachs headquarters in New York.Credit:Bloomberg

“Food is playing a much more central part in office life and businesses are using their food offers to try and influence behaviour,” said Robin Mills, UK and Ireland managing director at catering company Compass Group. “We are now fully part of these reopening conversations and part of this new world as companies think about how to get people to come back.”

After more than a year of empty offices and zoom calls, pandemic restrictions are easing and businesses are trying to figure out how to manage in-office working plans. With uncertainty over whether Britain’s vaccination program will contain the fast-spreading delta variant, some workers don’t want to return to the office at all. Companies are treading a fine line, allowing flexibility while trying to fill expensive office space and reinvigorate their business culture.

Xavier Rees, chief executive officer of Havas London, said the media group is “demonstrably better when we are in the office” and the priority is to get people back when possible. “Not five days a week, but certainly more often than not â€" without robbing them of the new-found freedoms discovered in lockdown.”

Havas, a Compass client, is using food to that end, investing in its in-house kitchen, cafe and coffee shop, and allowing employees to make menu suggestions. Revamped and heavily subsidised options include healthier meals on “Wellness Wednesdays” and menus inspired by cultural events, holidays and global cuisines. It will offer free lunches on Mondays and Fridays throughout August.

“We’ve prioritised the kind of amenities that make being in an office attractive â€" and food is a really important part of that,” Rees said in an emailed statement. “This isn’t new â€" it was a huge selling point before the pandemic â€" but this kind of thing has become even more important as we begin to encourage people back into the office.”

Janus Henderson Group, which offered heavily subsidised three-course meals for just a few pounds at its City of London office before the pandemic, is now providing all food for free. The asset management group, which has set a general guidance of spending two days a week in the office, “can’t say what our exact future working model will be, but we want to retain the best of office-based and remote working,” a spokesman said.

Workspace Group, which provides flexible office space across central and suburban London, is upgrading on-site cafes to keep a “social buzz” throughout its buildings.

“With more businesses returning to the office, our cafes are becoming increasingly important,” said Will Abbot, the firm’s chief customer officer.

Further afield, Amazon has funded more than 100,000 cups of coffee for employees in its North American hubs, but the surge of the delta variant prompted the online giant to tell employees on Thursday they won’t have to return to the office regularly until January.

Some businesses are using food to help manage other objectives â€" such as equalising attendance during the five days of the week or catering to changing work patterns, according to Compass.

For example, some are beefing up food choices on Mondays and Fridays when fewer people come into the office. Others provide more “twilight food” options between 6pm and 9pm to accommodate those who come in fewer days a week but work longer hours when they do.

Amazon has been giving its workers free cups of coffee.Credit:AP

Some businesses, more cautious about encouraging a wholesale return while COVID-19 remains a threat, are introducing app ordering and “hot lockers” so food can be delivered to employees to limit social mixing in canteens.

Everyone isn’t thinking about food perks. Fintech Revolut, which moved to permanent flexible work, isn’t pushing for a wholesale return anytime soon and is repurposing its Canary Wharf office into collaboration spaces. Microsoft has said some employees could potentially work from home forever, while Adobe said coming into the office remains “entirely voluntary at this time.”

In a quarterly update last month, Compass said revenue from business and industry is still only at about 60 per cent of 2019 levels given the slow pace of office returns. It expects total revenue to hit 80% of 2019 levels by the end of its fiscal year, helped in part by workers making their way back to offices.

“We are finding that employers are keen to get back to work,” said Mills. “We expect a positive blip in September when schools return, before a more normal return to business by the end of the year.”

Bloomberg

The Business Briefing newsletter delivers major stories, exclusive coverage and expert opinion. Sign up to get it every weekday morning.

Share this post