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Calls to return to offices on a more regular basis continue to be a theme as we approach 2025, with several large organizations directing their workforce to increase their time at the desk. Now Lloyds Banking Group is doing the same, with the possibility of cutting bonuses for those who don't comply.
Lloyds, Halifax and Bank of Sotland are all owned by the Group, which has recently announced plans to allow customers of any of those brands to use the others to bank within its branches, fueling concerns that more branches could close. in areas where they are. bent.
Lloyds' senior bankers are expected to be paid next month for their performance in 2024, with annual results to be detailed on February 20, but the group has confirmed the office attendance review will now comprise a portion of the performance-related objectives, according to the Guardian.
In 2023, hybrid staff were told to be in the office 40 percent of the time, which is equivalent to two days a week for full-time employees.
“The inclusion of a metric on compliance with the requirement that some staff attend offices for 40% of their working time should not create problems if applied fairly and is sensitive to the circumstances of people with judgments mature and reasonable measures applied,” said Ged Nichols, general secretary of the Accord union, which represents Lloyds staff.
A Lloyds spokesperson added that the bank “offers[ed] “an industry-leading approach to flexible working that offers many benefits for our colleagues while ensuring we are well positioned to deliver on our ambitious strategy to transform our business and continue to deliver for our customers.”
Lloyds also has a new scheme offering junior staff and the lowest paid members of the workforce the opportunity to earn larger performance-based bonuses, which Nichols called a “welcome introduction” as long as it is “funded separately.” and not made possible by reducing the value of standard prizes for everyone else.”
JP Morgan, which employs more than 300,000 people worldwide, received complaints from some employees after asking them to return to the office five days a week starting in March.
Starling Bank, the British online-only bank backed by Goldman Sachs, told its staff to return to the office in November even though it reportedly had no space to accommodate them, prompting a wave of resignations.
