A global deal will enable the London-based bank's 95,000 employees access to 3,500 IWG offices around the world
Flexible and hybrid working is being increasingly adopted by the financial services industry. And Standard Chartered is leading the trend by signing a groundbreaking deal with IWG – marking one of the biggest steps towards permanent flexible working at a major financial firm.
In January 2021, the British banking and financial services company signed a global deal that will enable the London-based organisation’s 95,000 employees access to 3,500 IWG offices around the world. This will give them the option to work in more convenient locations closer to home while benefiting from professional office facilities.
In November 2020, it was reported that Standard Chartered was considering providing ‘near home’ work locations for staff that could gradually increase numbers working flexibly by 2023.
Speaking of the deal with IWG, Chief Financial Officer Andy Halford says: “We hope this partnership will provide suitable alternatives to working from home and from the office, enabling our employees to work closer to clients, colleagues and their teams, as well as reducing commute time, travel costs and our individual and collective carbon footprint.”
IWG CEO Mark Dixon said firms have been taking “a gradual step towards hybrid working” but Standard Chartered was moving to a more “radically employee-centric approach”.
He added: “One of the biggest pain points identified by workers globally is the commute and Standard Chartered – by acknowledging the importance of helping employees achieve a better work-life balance as well as significantly reducing their carbon footprint – is demonstrating a modern, forward-thinking outlook, that shows they are in touch with their people's needs.”
With its irregular working patterns, seasonal spikes in workload throughout the financial calendar, and a growing need to be available across different time zones, flexible working was already being talked about in the financial services sector prior to the beginning of the Covid-19 pandemic. Now, with concrete evidence of its benefits, many businesses are exploring it as a more permanent option.
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