Commerzbank is making permanent the work-from-home arrangement for its employees, following a trend established by other companies.
Commerzbank Introduces Permanent, Flexible Work Arrangements
Germany's second-largest private bank, Commerzbank, is adopting a new work model to bolster its market position. According to a report by Handelsblatt, the bank will implement indefinite, flexible work arrangements, granting teams the autonomy to decide on their office and home office hours.
An internal memo obtained by the publication reveals the bank's move towards a modern hybrid work model. The bank's Personal Director, Sabine Mlnarsky, confirmed the extension of the collective agreement on hybrid work until October 1, 2025, with no expiration date. Mlnarsky attributes this decision to the resounding success of the flexible work arrangements implemented during the pandemic.
After the pandemic, the home office quota at Commerzbank stood at around 70%, particularly among employees in the headquarters, advisory centers, and customer management of online subsidiary Comdirect. As of April 2024, the fixed quota will be abolished, allowing teams to decide upon their work arrangements independently.
At least one joint team day per week in the office is expected, with the emphasis being on the quality of time spent together rather than team members' physical presence. In the memo, it is stated: "What matters is not the mere presence of team members in the office, but the time spent together there."
The previously planned expiration of the regulation on September 30, 2025, has been rescinded in favor of an indefinite extension. The board and works council have agreed upon this unlimited extension, with the intention of strengthening the bank's position on the labor market.
The Handelsblatt notes that Commerzbank's decision marks a departure from other companies that are increasingly necessitating higher office presence. In contrast, Commerzbank is presenting itself as a frontrunner in offering one of the most progressive hybrid work models. The decision is also seen as a strong statement of appreciation and trust in the bank's employees.
Despite the indefinite home office option, Mlnarsky underscores the importance of office presence for fostering personal exchange, knowledge transfer, and team cohesion. She emphasizes the advantage of a yellow culture, where employees collaborate in the office for two to three days a week.
In its commitment to sustainability and diversity, Commerzbank's hybrid work model encourages an inclusive corporate culture that prioritizes employee wellbeing and productivity. Through various flexible arrangements, such as mobile working, flexible working time models, job sharing, joint leadership, support for caregivers, and company-sponsored childcare, Commerzbank seeks to facilitate a balance between work and personal life for its employees.
- What matters not is the mere presence of team members in the office, but the quality of time spent together and the progress it drives for finance, business, and technology at Commerzbank.
- In its pursuit of a sustainable and diverse workforce, Commerzbank is introducing an indefinite hybrid work model, embracing flexibility and promoting work-life balance, with a focus on financial growth, dynamic business strategy, and the integration of technology.
