Lloyds TSB - Improving work-life balance
for everyone
The company
Lloyds TSB is among the 13 largest organisations in the UK and ranks
as the fifth biggest bank in Europe based on market capitalisation.
Total income |
£9,434m |
Customers |
16 million |
Workforce
Over 50% of employees are in direct service roles, offering a range
of financial products that are available to customers 24/7. The company
has offices throughout the UK and overseas.
No. of employees |
75,856 |
% female |
63.1% |
% women returning after maternity leave |
87% |
* All workforce figures are
based on the year ending 31 December 2004.
The problem
21st century business:
In the face of increasing competition, a tightening labour market
and the rise of a 24-hour banking culture, Lloyds TSB needs to offer
employment policies that will attract and retain the best people from
the widest pool of applicants.
Response
An Inclusive work-life
approach:
Lloyds TSB aimed to develop an employment package that would appeal to all employees,
regardless of race, disability or gender with the aim of making the Group an
employer of choice. Some of its features are:
- Some provisions focus on men and women with caring
responsibilities but key policies are available for all employees
- It goes beyond current legislation
where possible
- Requests for a different work patterns or number
of hours (‘Work Options’) are based on business impact
not on individual personal circumstances
The work-life policies
For new parents and carers: |
|
Compassionate and emergency leave |
Paid or unpaid leave when urgent or unplanned
family situations arise. |
Parental leave (legislation refers to as
‘maternity leave’) |
Generous leave provisions for mothers, adopting
parents and partners with primary responsibility for early care. |
Additional parental leave (legislation refers
to as ‘Parental leave’) |
Employees with children under 5 (or disabled
children under 18) can take up to 4 weeks unpaid leave a year
from an entitlement of 13 weeks. |
Career break |
Staff can take an employment break of up to 5 years to care
for dependants; there is no guaranteed right of return but every
effort is made to re-employ |
For all employees: |
|
Work Options - flexible working scheme |
All employees can apply for a change of work pattern or hours,
choosing from reduced hours, job sharing, compressed hours, term-time
working, variable hours and working from home. Management must
be able to demonstrate a business detriment to decline. |
Healthcare Direct |
Employees can obtain professional counselling,
emotional support and healthcare advice |
Flavours - flexible benefit scheme |
Staff can buy many additional benefits on a flexible basis,
e.g. childcare vouchers, dental care, private medical insurance |
Sabbatical leave |
Not yet available: career break policy to
be reviewed in 2005 with a view to opening it up to all employees |
Take-up and outcomes:
Work Options:
Take up:
- During its first year (1999) the number of flexible
workers rose by 15% (against a target of 3%)
- 86% of Work Options’ requests are approved
- 22% applications from managers
Outcomes:
- Work Options has helped erode the bank’s traditional
long hours culture, enabling managers to focus on individual productivity
not hours worked
- Seniority is no longer seen as a barrier to flexible
working
- Flexible working is no longer seen as being just
for mothers with traditional childcare responsibilities
Business benefits
- Tangible business savings:
- Staff cover can be extended at zero cost
- Resources can be matched to peak demand
- Staff overtime is minimised
- More motivated workforce:
- 80% of Work Options users believed their flexible
working arrangements
- improved their performance
- meant they were more likely to stay at Lloyds
TSB
- meant they would recommend Lloyds TSB as
a good organisation to work for
Challenges
A review of Work Options identified areas for improvement:
- Communication of the policy relied on management
cascade. Variable middle management support led to take-up that
varied according to departments.
Solution: a dedicated flexible working website
was created giving all staff immediate access to information about
Work Options.
- Job share take-up was negligible because there was
no mechanism for employees to find job sharing partners.
Solution: an online Job Share Register was launched
which includes job share guidelines.
- An enduring long-hours culture made some employees
feel they would be seen as less committed if they applied for flexible
work.
Solutions:
a) all internal vacancies clearly state they are open to employees
who want to work flexibly.
b) the 2003 Flexible Working Regulations gave Work Options a new
legal status and also created an opportunity for a further major
communication programme to raise awareness about all the options
available.
In practice
This manager has
eleven staff between Bristol and London. He has supported his
team’s
request for flexible working.
The case:
- Staff in his department, which experiences
heavy and often unpredictable demands, first approached him about
flexible working arrangements after Work Options was introduced
in 1999.
- Initially unsure how it could work, he piloted
a ‘compressed fortnight’, with each members of the
team taking 1 day in 10 off. Everyone agreed they would retain
flexibility in case of unexpected, major work demands.
- After a successful pilot, the arrangement was made
permanent.
He says:
“flexible working has brought the team closer together. Everyone
realises it’s in their interest to make sure Work Options
works and places more reliance on the ‘collegiate’ team
approach.”
Benefit to Lloyds
TSB:
This team has proved that it can still deliver the results
the bank demands, whilst increasing work-life balance: everyone wins.
The future
The Group’s Equality & Diversity Department plans to carry out further
research in 2005 into employees’ views on its work-life balance offering.
April 2005
Top