UBS has decided to offer full-time remote work option for some of its US employees as part of its Virtual Worker Framework initiative.
Said to be an extension of the firm’s current hybrid work model, the initiative will be implemented in phases in the coming months to select current and prospective employees in the country.
It will start with eligible Global Wealth Management roles in the US in line with regulatory guidelines, the company said.
The move follows a global survey by UBS, which showed that 86% of its staff value greater flexibility, including the ability to opt for a remote or hybrid work arrangement.
UBS Americas president Tom Naratil commented: “Hybrid working has positively reshaped the future of our workplace.
“We’re reimagining the way we work and believe this framework will provide an enhanced work-life balance for some of our employees, appeal to a more diverse pool of applicants and increase employee retention. We recognise the world has changed and we continue to adapt so that we can deliver the best for our clients and our people.”
Employees will be offered virtual engagement opportunities under Virtual Worker Framework, including access to the firm’s technology platform and applications.
The company will also organise periodic in-person events to grow rapport with clients as well as within the team.
UBS Americas Human Resources head Marc Montanaro said: “Our employees have different needs and demands on their time based on their location, family and personal life, career stage and other factors – some of which change over time.
“This framework will allow employees to more seamlessly balance their responsibilities at UBS with other parts of their life.”
In 2020, UBS said that as much as one-third of its employees may work from home permanently in the post Covid-19 environment.