Introduction

Lloyds TSB Group provides financial services. It has over 16 million customers and employs over 66,000 people. It operates around the world and in many markets in both business and personal sectors. All customers now expect first-class service 24 hours a day. This puts demands on staff. Lloyds TSB has put in place a range of human resource (HR) policies. These are designed to ensure Lloyds TSB is a great place to work. In 1998, the Group carried out research to see what factors had an impact on the job. Many people had concerns about work-life balance. This is the balance between your job and other areas, like family. The Group brought in a new policy called Work Options. This allows staff to work flexibly.

The changing work environment

The way that people work has changed. In the past, workers had to clock in and out and were paid an hourly rate based on the number of hours worked. In recent times, there have been changes that mean a more flexible approach is needed. More women now work, people live longer and all staff must have equal treatment. Many people want to spend more time bringing up their children. In 2003, the government put in place the Flexible Working Regulations. These mean that anyone looking after young children or (from 2007) caring for someone, can ask for flexible working patterns. Lloyds TSB was ahead of these regulations. It has offered flexible working as a way to recruit and retain good staff for many years.

The business case

Flexible working also makes good business sense. It helps Lloyds TSB to deliver high service levels. Lloyds TSB is able to attract staff because of the flexible patterns. It also helps retain its staff – a cheaper option than recruiting. A national survey of graduates showed that flexible working was seen as more important than pay. People are also more productive and motivated when they can control the hours they work. Lloyds TSB also gains, as it can extend its hours of service without having to pay overtime rates.

Reduced hours

There are different patterns for flexible working. One pattern is part-time working, called ‘reduced hours’. Some staff wish to work only when children are at school. This is term time working. Others share a single job role. This is job sharing. Job sharing can lead to better productivity than if just one person does the job.

Other patterns

Employees can change the pattern so that they still work full-time, but at different times.

• Compressed working allows staff to put in a full week’s work in less than a week, by working longer days.
• Variable hours allows employees to work hours arranged to suit patterns of demand.
• Homeworking and tele-working – using mobiles, email and video conferencing - allow staff to carry out some of their work at a distance, even at home

Conclusion

Lloyds TSB introduced flexible working before many other firms. It was aware of the social and economic changes that made it necessary. It has struck a balance between its business needs and those of its workforce.