Energy supplier Ovo Energy has introduced a flexible bank holiday policy to allow staff more choice when taking time off throughout the year.
This applies to all UK 2023 bank holidays apart from Christmas Day, New Year and the King’s Coronation, which remain fixed.
According to the employer, the policy was introduced to allow employees to invest in their career while balancing other aspects of their life with less rigid expectations. It also aimed to create an inclusive environment and enable staff from different faiths and backgrounds to practise their beliefs.
This followed research commissioned by Ovo, which found that 72% of UK employees would like to have flexible bank holidays, with the late May bank holiday on 29 May the one people most want to swap. Half (51%) cited weddings as a reason for wanting the initiative, while 34% would use the time off for religious and cultural events, and 31% would use it to save money on foreign travel.
Ovo also discovered that 74% disagreed with their employer’s flexible working policy changes, believing these to have negatively impacted their job satisfaction (66%) and motivation at work (59%).
Charlotte Eaton, chief people officer at Ovo Energy, said: “At Ovo we understand that fixed bank holidays don’t work for everyone. Our community can choose to take their flexible bank holiday on a different day if they prefer, this might be to celebrate their own faith and beliefs, attend a special event, or to simply enjoy their annual leave when the sun is shining. We’ve aimed to make our offering as progressive as possible, putting our people first so they can make the choice that works for them and their families.”
Ovo allows its workforce to finish early if they have completed all of their objectives for the day or to take time out to go to the gym, walk the dog or collect their child from school. It also offers unlimited compassionate leave, extra paid leave to recharge after exceptional busy periods, and ‘moments that matter’ leave so they do not have to choose between work and important life events.