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StanChart to Offer Permanent Flexible Working by 2023

StanChart to Offer Permanent Flexible Working by 2023

Standard Chartered has revealed plans to offer flexible work models to almost 75,000 of its employees by 2023.

 

The bank said it aims for around 50 per cent of its markets, comprising around 70 per cent or 60,000 of its employees, to be able to adopt hybrid working patterns by the end of 2021.

 

By 2023, more than 90 per cent of its 85,000-strong workforce will be following some hybrid work model.

 

Standard Chartered said in a press release, "Beginning in early 2021, employees in those nine markets – UK, US, Hong Kong, Singapore, UAE and Global Business Services Centres in Poland, Malaysia, China and India – will be able to apply for a formal Flexi-working arrangement. Subsequent phases are expected to be offered in Q4 2021 and by mid-2022, with precise details on which markets will be included in phases two and three to be confirmed."

 

Employees will have the option to select both time (number of hours and/or days) and location flexibility; this could be Standard Chartered premises, a near-office premises, or from home.

 

The Bank is also partnering with a third party to provide additional ‘near-home’ workspace.

 

Tanuj Kapilashrami, Group Head, Human Resources, said, “While we have been thinking through the issues around the future workplace for some time, it’s inevitable that recent events provided a catalyst. We are also very conscious that all our markets are at different points as far as the pandemic is concerned and what that means for where they work. It’s for that reason we are focused on both listening to our employees and being data-led in what is required to perform each role.

 

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