DBS Bank to introduce voluntary job-sharing scheme

Two employees can formally share a job under this flexible work scheme

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Southeast Asian bank, DBS, is gearing up to officially launch a job-sharing scheme for employees in its Singapore branches, who require flexible work arrangements, as an initiative of the post-COVID world.

Two employees will shoulder the load of one full-time job, as a part of DBS Bank’s ongoing efforts to operate in split teams, over the past few months. This flexible arrangement may also be extended to more than two people and divided on the basis of location, time, or workload. The Bank will also introduce more part-time work arrangements, all aimed at transforming the way it’s employees work, post the pandemic.

The Bank will continue to provide its existing medical benefits and insurance plans. The job-sharing scheme is voluntary and not a part of cost-cutting measures. Sharing a job doesn’t imply it is part-time work, which has less than 35 hours of work per week. The salaries will be adjusted based on the formal work arrangements.

DBS has a 12,000-strong workforce in Singapore. It will offer its staff the option to work remotely for up to 40 per cent of their work time. The Bank is set to make more data-driven and project-specific squads, composed of experienced employees, alongside their functional departments.

In addition, DBS will launch a 5,000 sq. ft Living Lab, where physical work will blend seamlessly with virtual work.

Earlier, United Overseas Bank had announced its intention to offer its employees the choice of working remotely, twice a week. A review by the Bank revealed that 65 per cent of its roles could be managed remotely. It is looking at adopting a hybrid model of work, where employees can choose how to work based on their work productivity.