Lloyds Banking Group – Finalist 2024, Best for All-Round Flexibility, sponsored by enei
Lloyds Banking Groups’ (LBG) new initiatives are part of their transformation toward creating an inclusive workplace that works for their people and customers, and that fully supports employees in the moments that matter.
A flexible approach
Flexible working is available to everyone from day one. Through the Flexibility Works initiative, employees and managers are encouraged to explore ways of working that work for them, their team, and customers. Regular check-ins facilitate conversations about wellbeing and help provide flexibility when people need it most. Check-ins are also used instead of appraisals to talk openly about performance and development goals, so that the same framework is followed no matter how people work, helping to promote fairness in career progression. There is an appreciation that people need different flexibility at different stages of their life, so LBG are increasing the options available for people in the later stages of their career such as unpaid sabbaticals, career breaks and phased retirement. A JobShare matching tool has been implemented to support the creation of new partnerships.
Managers are supported with recruitment training and guidance to help them consider and specify the types of flexible working available. Employees have access to a range of different flexible working arrangements dependant on their role, including everyday flexibility, flexible bank holidays and compressed working. Staff are asked to attend the office at least 2 days a week, or 40% of their time to enable effective collaboration, shared learning and problem solving.
Supportive policies
Flexibility Works also includes supportive working practices for families of all shapes, such as 70 hours paid leave for foster carers, 6 weeks flexible paid paternity leave, improved maternity and adoption leave, access to shared parental leave and additional support for parents whose baby arrived early or for those undergoing fertility treatment. There is an option for parents returning from family leave to use compressed working, which is available until their child’s second birthday, or two years after placement. There is also additional flexibility for people who need support for a health need or as a carer themselves.
Measure of success
Currently LBG have 14,600 people working reduced hours and over 48,000 people have access to hybrid working out of a workforce of 67,000. Over 200 employees work in a job share and the new JobShare tool gained 122 users in the first month of launching. LBG ambition is to double the number of people job sharing in the next year.
