In an attempt to retain staff with better work-life balance, UBS has decided to allow its investment bankers two hours of personal time per week. According to the bank, the policy named as ‘take two’ aims to give bankers more flexible hours without colleagues having to pick up too much slack. The scheme came in place following an internal survey initiated by investment bank president Andrea Orcel. The scheme is offered to 6000 people working for UBS in investment banking globally. Orcel said banking industry is often criticized for poor work-life balance. He said they the bank asked employees to come up with ideas and find solutions to the issues that matter to them. Since May, junior and senior bankers working within the same team at UBS can use at least two hours per week for personal matters, as long as co-workers agree to cover for them. UBS said 145 teams signed up to the plan in its first week. The bank has also launched “Rotation 100”, allowing around 100 junior bankers to take stints in other regions or temporarily cover other sectors or products for up to three months in a bid to keep its best employees happy.
