As part of its effort to attract and retain talent, UBS Group AG will allow some of its U.S. employees to work remotely full-time.
According to Tom Naratil, president of UBS Americas, the Swiss bank anticipates around 10% of its employees in the United States to work remotely when the programme is implemented in phases, beginning with the wealth section. About 10% to 15% of employees would work full-time in the office, while more than 70% will work in hybrid jobs. About 800 of the company’s more than 20,500 employees in the United States work remotely at the moment.
Last year too, UBS had allowed some workers to work remotely.
“If only 10 to 15% of roles are five-day-a-week roles, that shows you how significant this is. Someone may find at a particular point in their life — maybe because of a family situation — that they may want to be 100% remote.”
Tom Naratil, President, UBS Americas
UBS is responding to the demands of its own employees. Around 86 percent of its employees say they want additional flexibility, including the ability to work from home.
Another benefit of the idea, according to Naratil, is that it will improve commuting times. He anticipates that more employees will work from home on Fridays, and that most employees will be in the office from Tuesday to Thursday over the summer to avoid travel during peak times.
Investment bankers and other professions, according to Naratil, can work from non-traditional places. The company, which has around 300 operations in the United States, is embracing the idea that more people desire to work outside of a major city.
The programme will also aid UBS’s efforts to promote diversity and inclusion. Working women, single parents, and veterans, as well as their families, might benefit from flexibility, according to Naratil.
“For the industry, we’re all going to end up in the same place eventually, because the talent is going to move.”
Tom Naratil, President, UBS Americas
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