Bank of Ireland has adopted a hybrid working model, providing its staff more flexibility to choose their working approach.
The model allows the bank’s employees to work from a combination of home and central office locations. They will also have access to remote working hubs by the end of this year.
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Under the new hybrid model, the bank’s office space will be mainly used for meetings, collaboration as well as building connections.
For work that can be done individually or is more task based, the remote locations will be used.
Bank of Ireland already had four hubs at Gorey, Mullingar, Dundalk and Naas, with two new hubs at Balbriggan and Northern Cross to be launched now.
Plans are also on for another five hubs in Swords, Blanchardstown, Santry, Newbridge, and Newlands Cross by the end of 2021.
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By GlobalDataBank of Ireland also stated that it is providing equipment to facilitate employees working from home.
The new working model was developed following surveys, which found 77% of colleagues favouring work from home between 25% and 75% of their working week.
Around 3,500 of the bank’s were working with some degree of flexibility early last year. The bank stated that the pandemic has sped up the trend.
Bank of Ireland chief people officer Matt Elliott said: “Our network of remote working hubs will provide a real alternative to time and energy sapping commutes. The central office still has an important but different role to play – with large office buildings being redesigned to facilitate meetings and collaboration.
“The introduction of a hybrid model also increases accessibility to employees or applicants for roles based around the country and outside urban centres and to those who have caring responsibilities in the home.”
Similar moves by other banks
In recent times, several banks have switched to a flexible working model driven by the impact of the pandemic.
Last November, Standard Chartered said that it will permanently move to flexible working modes from 2021.
By 2023, Standard Chartered expects its flexible work programme to apply to nearly 75,000 employees across 55 markets, worldwide.
In the same month, DBS Group also reportedly decided to implement a flexible working model.
Earlier this year, it was reported that Turkish bank Yapi ve Kredi Bankasi will allow a part of its workforce to work from home on a permanent basis to reduce costs.
