Over the course of 2020,
Taking on board what has been learned, the Bank intends to implement a hybrid approach, combining virtual and office-based working with greater flexibility in working patterns and locations. During October, employees in nine phase one markets were asked to state their preferences for how they want to work flexibly via an expression of interest form, with the overall degree of flexibility to be offered determined by business needs and individual choices. Rather than simply offering flexible working (which the Bank had in many markets before Covid-19), this process of collecting employee preferences was accompanied by a review of all jobs - where and how they can be done and building an assessment of flexibility at that level - which showed that more than 80% are suitable for more flexible working.
Beginning in early 2021, employees in those nine markets -
Employees will have the option to select both time (number of hours and/or days) and location flexibility; this could be
Phase one markets are approximately 54% of the Bank's total employee population. In subsequent phases the goal is to implement flexi-working options across at least 70% of the Bank and 50% of its markets by the end of 2021 (approximately 60,000 employees across 30 markets) and achieve 90% coverage across both by 2023; equating to approximately 75,000 colleagues in 55 markets.
"We are excited about the future as we step into a new era for the Bank and the positive impact we can make on our productivity, wellbeing and carbon footprint. We also see this as an opportunity to appeal to a wider and more diverse potential future workforce."
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