BusinessCompany NewsFinance sector ignores flexible working

Finance sector ignores flexible working

Inadequate technology and management intransigence are holding back adoption of flexible working for the 500,000 employees in the UK financial services sector, research claims.

Link: New flexible working Act worries FDs

Over two thirds of firms questioned in a survey by BT claim the lack of remote computing access prevents them from working flexibly, while a third cited a lack of hot desks and poor computer systems.

Nearly half of respondents say they could do at least one quarter of their work from home, while 43% claim the same for working from other bank branches or office locations.

But six out of ten respondents blamed a lack of support from the top for preventing the successful adoption of flexible working policies in their company.

Even though nearly two-thirds of financial institutions claimed to have flexible working policies in place, only one in five retail banks and 13 per cent of investment banks have actually put them into practice.

BT director of finance industry solutions Chris New said in a statement: ‘Management attitude is the key to unlocking the potential of flexible working in financial services and it is vital they recognise the value it can bring and work out how to integrate it with their business.’

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