Lloyds TSB banks on own flexible working scheme

first_imgLloyds TSB banks on own flexible working schemeOn 6 Mar 2001 in Personnel Today A tight labour market isputting increasing pressure on employers to offer staff flexible workingarrangements, according to Lloyds TSB’s senior manager for equal opportunities.Jon Whiteley told delegates at a RoffeyPark seminar on work-life balance that the bank had introduced its Work Optionsscheme in April 1999 in order to attract and retain its workforce in acompetitive market.He explained, “If we lose a seniormanager it will cost about £45,000 in terms of recruitment and training toreplace them.“Employees are increasingly sayingthey have only one life and they want to enjoy it. There has been a shift awayfrom the long hours and presenteeism culture of the 1980s and 1990s.”Whiteley said that if the rate ofwomen returning to work at Lloyds TSB after the end of the maternity perioddropped from its current level of 86 per cent to 76 per cent it would cost thebank £1.5 million a year.He added, “Work Options isavailable to everybody. It is a business-focused policy that enables theindividual and the bank to work in partnership to match the needs of theindividual to the needs of the business.“We want to make sure flexibleworking is not just seen as a women’s issue. Managers and men are encouraged toapply.”Options include reduced hoursworking, job share, compressed working week, variable working hours and workingfrom home but Whiteley stressed these are not set in stone and staff areencouraged to think creatively.At present 28 per cent of the bank’sstaff benefit from some sort of flexible working arrangement and Whiteley isoptimistic this will increase to more than a third over the next two years.“The tight labour market is a bigissue for a lot of employers competing for scarce resources. Being able tooffer effective flexible working options does have a direct impact on thebottom line and cost,” he said.By Ben Willmott Previous Article Next Article Related posts:No related photos. Comments are closed. last_img

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