StanChart unveils permanent move to flexible working from 2021

Standard Chartered plans to offer flexible work options to more than 90 per cent of its 85,000 staff over three years, a sign of how pandemic crisis management is leading to long-term change in the role of the office.[LONDON] Standard Chartered plans to offer flexible work options to more than 90 per cent of its 85,000 staff over three years, a sign of how pandemic crisis management is leading to long-term change in the role of the office.

The bank said about half its staff will be able to apply for some form of hybrid work from early 2021. Standard Chartered expects the programme to apply to about 75,000 workers in 55 markets by 2023. The London-based company is also in talks with a third-party firm to provide"near-home" workspaces for staff, according to a memo seen by Bloomberg News. The plan follows a survey of staff in the UK and Asian hubs that asked whether employees preferred to work from the office as usual, switch to work-from-home or near-home options, or split their time between different venues.

Standard Chartered has said it's looking at office leases carefully in an environment where lenders are under pressure to control costs, even before Covid-19's disruption to the world economy. While some bank bosses like Jamie Dimon want their staff back in the workplace, others are leaning towards the approach at Standard Chartered - where chief financial officer Andy Halford recently said"the word 'office' will become a bit of a thing of the past".

"While we have been thinking through the issues around future workplace for some time, it's inevitable that recent events provided a catalyst," Tanuj Kapilashrami, the bank's head of human resources, said in the memo.

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