Lloyds Banking Group has increased flexibility for its workforce with the launch of a new flexibility policy.
Its Flexibility Works policy comprises a range of flexible-working options for staff, including the option to compress a five-day working week into four days. This is available to staff who need childcare support up until their child’s second birthday, during key life moments for up to six months in the event of bereavement for a close family member, a significant operation, and taking on new family caring responsibilities, and permanently for those with disabilities or specific caring responsibilities for disabled children or dependants.
The policy also makes provision for flexible bank holidays, default job sharing opportunities for all roles, increased options for later career stages, including phased retirements, reskilling or reducing hours, and a flexible summer option for office-based staff to work wherever works best for them in the UK.
The organisation has also increased maternity leave from 20 weeks to 26 weeks on full pay and introduced 10 days of paid foster care leave to support foster parents.
The bank’s office-based employees will be able to work remotely three days per week and from the workplace for the remaining two, in order to benefit from in-person and collaborative contact. Customer-facing staff, meanwhile, will be offered greater flexibility to manage their work and life, and benefit from a range of these policies.
In addition, the organsiation is also investing in its workplaces to ensure employees have the collaborative, quiet or dynamic spaces they need.
Sharon Doherty, chief people and places officer at Lloyds Banking Group, said: “We have launched Flexibility Works to provide an enhanced range of flexible-working policies for our people that will help us succeed in driving our ongoing strategic transformation plan. We are proud to be a leader in flexible working and we are confident our enhanced approach will continue to help us attract and retain the best and most diverse talent, as well as enhancing our productivity across the organisation.
“We know that flexibility means different things for different people. This is why we are providing everyone access to a broader range of flexible-working practices that balances the needs of our people and the strategic aims of the group, with the evolving needs of our customers and businesses across the UK.”