startups

Investec joins big firms in adopting flexible leave and dress code – Business Day


Investec will reward all employees in SA who choose to migrate to the unlimited leave system according to their output and not how many days they show up at work. Also, staff, except for receptionists whose days are more structured and receive a clothing allowance to keep up the formal look, will now be able to show up in shorts and T-shirts, depending on who they are meeting during the day.

It’s an organisational culture shift that has contributed to Google and Amazon being at the top of the list of companies that young, talented people want to work for. But generally this has been associated with Silicon Valley and the tech industry, certainly not banks and investment firms.

“Surprisingly, there are clients we see who don’t want us in suits. Equally with suppliers, our suppliers are often in shorts and T-shirts and engaging with them like that is important,” says Lesley-Anne Gatter, head of human resources at Investec SA.

She says there will be no rules on what people can and cannot wear. The only rule is that employees must dress for their day. If they are a banker and going to see a client who prefers informal engagement, they can dress for the occasion. But if they are seeing a more conservative client, they should adjust accordingly.

The dress-for-your-day policy is something that is already in place in many local companies including Nestle, which has been crowned top employer numerous times. But in the financial services industry, those who have adopted flexibility are only willing to go as far as “smart casual” or “business casual”, which means no baggy clothes, cargo pants or sneakers.

Investec says it only asks that employees remember what the brand stands for: sophistication. Its policy on this is almost identical to US car manufacturer General Motors, whose workplace dress code is two words: “Dress appropriately.”

But the most progressive change is the flexible leave policy which companies like Virgin have spearheaded and reaped benefits from since its implementation years ago. In April, Richard Branson wrote a blog post about a group legal director who worked diligently and achieved more from working wherever they were, instead of just the office. 

Gatter says in Investec’s case, the core principle is that people will be paid according to their output and not how many days they clocked at work. The number of leave days they take will not affect their salaries. The idea is to push even harder for high performance as people will have an incentive to finish their tasks quicker. But, above that, high bonuses will be paid for innovation and initiating things, as opposed to just completing tasks.





READ SOURCE

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.