Lloyds Bank to link bonuses with office attendance

Philip Whiterow
Lloyds Bank to link bonuses with office attendance

Lloyds Banking Group PLC (LSE:LLOY) had told senior banking staff that bonuses might be affected if they don’t follow the company policy of coming into the office at least twice a week.

The Halifax, Lloyds and Bank of Scotland group confirmed to the Guardian that office attendance is a part of performance-related bonus targets for most senior employees.

Bonuses will be announced next month following the bank's annual results on 20 February.

Lloyds is a is part of a growing trend among large employers to require staff to work at least two days a week in the office and more in many cases.

US bank JP Morgan and e-commerce giant Amazon, for example,  are insisting on a full return.

Employees, however, have been pushing back with a group of staff at Starling Bank resigning rather than be in the office more, while ad agency WPP is facing a petition from 6,000 staff to relax a policy that from April, staff must be in the office four days.

A Lloyds spokesperson told the Guardian that it was  “proud to offer an industry-leading approach to flexible working”.

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