Lawstreet Journal

SBI plans to roll out ‘Work from Anywhere’ Policy amid Covid-19 Pandemic

Lawstreet Journal 23 Jun 2020 6:09pm

Image courtesy: Lawstreet Journal Business SBI plans to roll out ‘Work from Anywhere’ Policy amid Covid-19 Pandemic

In the wake of the Covid-19 pandemic, India’s largest lender State Bank of India is upgrading its policies for better productivity and efficiency. One of the latest developments is regarding the conversion of ‘Work from Home’ policy to ‘Work from Anywhere’ policy, in order to adjust to the new challenges in the post-COVID era and changing demands of customers. SBI is probably the first public sector lender that officially announced the permanent adoption of remote working measures in the post-COVID era.

“On the business side, the focus of the bank in the days ahead would be on revisiting risk assessment and business procedures in addition to the rapid adoption of digital technology,” SBI said in its annual report. “However, from the Bank’s point of view, the true impact of the COVID pandemic must also consider the behavioral impact on Bank’s customers, and composition of the portfolio,” it added.

Mr. Rajnish Kumar, Chairman SBI said, “For instance, likely job cuts and salary reductions will have a relatively low level of stress on account of the higher proportion of Government/Quasi-Government sector customers.” He added, “With global acceptability of ‘Work from Home’ (WFH) arrangements, the Bank is in the process of upgrading its existing WFH policy to ‘Work From Anywhere’ (WFA). Productivity tools and technology are already in place to perform administrative work remotely.” He said that this policy would help reduce commute time for the Bank’s staff, which can be utilized for providing better services to customers as well as ensuring better work-life balance.

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Tagged: State Bank of India  
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