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UBS to Offer 100% Remote Work Option for Eligible US-based Employees
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
UBS has introduced its new Virtual Worker Framework, enhancing its hybrid work model to allow eligible US employees to work 100% remotely.
This initiative aims to attract diverse talent, improve employee retention, and optimize client service. A survey revealed that 86% of UBS employees prefer greater flexibility in their work arrangements. The phased implementation starts with Global Wealth Management roles and is designed to adapt to employees' varying life stages.
Positive
Virtual Worker Framework enhances flexibility, potentially attracting diverse talent.
86% of employees value greater work flexibility, indicating strong support for this initiative.
Framework aims to improve employee retention and client service.
Negative
None.
Virtual Worker Framework is an extension and evolution of UBS’s current hybrid work model
This new, industry-leading approach to flexible working is designed to appeal to diverse talent pool and increase retention, while enhancing client service
NEW YORK--(BUSINESS WIRE)--
Today, UBS announced the launch of its Virtual Worker Framework, a new industry-leading approach to flexible working that will provide US employees in eligible roles with the opportunity to work 100% remotely. UBS will begin a phased implementation of the framework over the coming months to select current and prospective employees across the country.
The Virtual Worker Framework represents a natural extension and evolution of UBS’s current hybrid work model. In a global survey, 86 percent of UBS employees stated that they value greater flexibility, including the ability to maintain a remote or hybrid work arrangement. With continued technology enhancements and positive adoption of virtual work, the firm is finding new ways to engage with clients and build trusted relationships.
“Hybrid working has positively reshaped the future of our workplace,” said Tom Naratil, President of UBS Americas. “We’re reimagining the way we work and believe this framework will provide an enhanced work-life balance for some of our employees, appeal to a more diverse pool of applicants and increase employee retention. We recognize the world has changed and we continue to adapt so that we can deliver the best for our clients and our people.”
UBS maintains a strong culture which extends beyond a traditional office environment, enabling colleagues to remain connected to each other and the business. Employees who participate in the Virtual Worker Framework will benefit from virtual engagement opportunities, full access to the firm’s technology platform and applications, and periodic in-person events that will help them build strong relationships with their teams and clients.
“UBS has long been a supporter of flexible working and we recognize that many employees feel they are more productive and satisfied when they have greater control over their schedule,” said Marc Montanaro, Head of Human Resources, UBS Americas. “Our employees have different needs and demands on their time based on their location, family and personal life, career stage and other factors – some of which change over time. This framework will allow employees to more seamlessly balance their responsibilities at UBS with other parts of their life."
The Virtual Worker Framework is designed to support employees throughout all stages of life. In the future, working with their management teams and partners in Human Resources, employees that participate will have the opportunity to modify their remote work arrangements in the event they would like to return to the office or work in a hybrid arrangement.
The framework will be introduced in phases, beginning with eligible Global Wealth Management roles in the US, and will be aligned with all regulatory guidelines.
Notes to Editors
About UBS
UBS provides financial advice and solutions to wealthy, institutional and corporate clients worldwide, as well as private clients in Switzerland. UBS is the largest truly global wealth manager, and a leading personal and corporate bank in Switzerland, with a large-scale and diversified global asset manager and a focused investment bank. The bank focuses on businesses that have a strong competitive position in their targeted markets, are capital efficient, and have an attractive long-term structural growth or profitability outlook.
UBS is present in all major financial centers worldwide. It has offices in more than 50 regions and locations, with about 30% of its employees working in the Americas, 30% in Switzerland, 19% in the rest of Europe, the Middle East and Africa and 21% in Asia Pacific. UBS Group AG employs more than 72,000 people around the world. Its shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).
