Home Business UK financial sector urges caution over any work from home law

UK financial sector urges caution over any work from home law

People dividing their working hours between home and office should develop naturally over time. This should not be forced into law, said the senior financial services industry officials.

Britain has indicated that it may legislate to allow people to work flexibly by dividing their time between the office and home. This will build on the experience of millions who have worked from home since the Covid started. Many firms have already developed plans to mix home and office working once the restrictions are lifted. In the City & Financial’s City Week event, Bruce Carnegie-Brown, chairman of the Lloyd’s of London insurance market, told that this is going to evolve, clearly, and that’s why legislation would be inappropriate. He added that they have to allow different sectors of the economy to adapt in different ways to address this opportunity.

Anne Richards, chief executive of asset manager Fidelity International, said that the employers were being forced to think hard about what can be done in office and from home, respectively. Richards said that ultimately it will become something of a competitive advantage if you can get the balance right on some of these things, give people a bit more flexibility to act as grown-ups. She added that she doesn’t think a legislative approach probably is the right answer and this may find its own natural equilibrium. Karan Bilimoria is the president of the Confederation of British Industry, an employers’ body. Karen said that employers should make their own decisions on the mix of working from home or office.

And added that it would be the wrong thing to force this to happen, and also it should evolve in its own way. Carnegie-Brown said that the return to the office should be treated carefully so those working from home did not feel excluded.

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