By Chartered Banker Institute, UK

There are those who will breathe a heartfelt sigh of relief, reach for the suit that’s been patiently hanging in the wardrobe awaiting the return of normality and go back to the traditional city look they were always comfortable in. And there’s a lot to be said for normality.

But most of us have got used to more hybrid working, less business travel and new technology. So, will our colleagues all feel – and dress – the same? Will firms extend the new post-pandemic relaxation of rules of where and when to work to what to wear? Will, in fact, ‘Fintech Friday’ with its jeans, hoodies and trainers take over the whole working week even in the most conservative firms?

Or, conversely, will we feel the need to emerge from our Covid cocoons in butterfly-beautiful new outfits; brighter colours, sharper tailoring and snappier shoes, showing the world what it’s been missing for the last year and a half? A recent survey by Randstad said that while most of us want to continue with less formal clothing, a substantial minority (24%) would welcome a return to the era of the suit.

Clearly tailors and dressmakers are very much hoping more of us are going to rush out and refresh our wardrobes. The list of clothing retailers that have closed, been bought out or transitioned to a solely online presence makes depressing reading: Brooks Brothers, iconic outfitters of US presidents and bankers for 200 years; shirtmakers TM Lewin; brand icon Jaeger; retro-inspired Cath Kidston. Even Topshop, among Philip Green’s other Arcadia brands, was bought out of administration by online retailer ASOS. By contrast, ASOS tripled its profits during lockdown.

Early indications are of a significant shift in corporate dress codes, where far more is left to personal choice. As well as an acceptance that the pandemic has proved it’s perfectly possible to be a high-performing professional in jeans or jogging bottoms, the larger and more traditional firms are realising that they’re in a war for talent with more progressive tech organisations. Being able to choose what to wear, for some, may be an important part of choosing who to work for.

Personal choice also reflects welcome moves towards diversity and inclusion in the workplace. Even the President and CEO of the Federal Reserve Bank in New York, John C Williams, himself the owner of an impressive collection of sneakers, which he’s looking forward to wearing back in the office, thinks Fed workers should have more freedom to choose what they wear saying: “When people can be themselves, they do their best work”.

Jane Fraser, new CEO of Citigroup and more usually seen in her jewel-coloured dresses than a suit, also welcomes the change. When she first joined the banking world she says, “you had to dress like a man”. It didn’t make women in banking happy – and didn’t make more want to join. Like many areas of work, the pandemic may just have accelerated changes in society that were going to happen anyway.

Of course, what we wear is merely an outwardly visible symbol of what’s going on inside. People will always use clothing and accessories to signal status, influence or membership of a tribe. For some, that will still be a suit or an expensive watch; for others, exactly the right pair of trainers. How we decide to dress is less important than how we see ourselves, and how we want others to see us. If we are allowed to choose a less formal, more comfortable mode that enables us to feel good about ourselves and what we do, that’s a welcome change.

This article previously appeared in the Chartered Banker magazine, UK, autumn 2021 edition.