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Lloyd TSB Group Case
Transcript of Lloyd TSB Group Case
2.Why would an organization like Lloyd's TSB wish to adopt flexible work patterns?
3.Select two kinds of flexible working arrangements and explain how both an employee and a business may gain from them.
4.Using a medium sized business you know of, assess the value or otherwise of allowing flexible working.
5.What reasons does Lloyd's Banking Group have for introducing flexible working?
6.What challenges does Lloyd's Banking Group’s Work Options policy pose for maintaining effective internal communication in the company? Make sure you use terminology from the readings for this week.
7.What alternative communication strategies might be effective under Lloyd's Work Options policy? What would be the advantages and disadvantages of these alternative strategies? Which of these alternatives would you recommend to Lloyd's management and why?
8.Lloyd's Banking Group is perhaps best categorized as a credit bank. What internal communication system is likely to be most effective in an organization with this corporate culture profile? Questions Answers Founded: 1995
Industry: Banking and Insurance
Workforce: 38% Male, 62% Female
1. Social changes: More women are working people and live longer in 21st Century. All employees expect to be equally treated. There is enormous pressure on employees with family responsibilities Economic changes: The labour market is becoming more tightening. Businesses need to attract staff and retain their services.
2. Flexible working not only benefits staff but also makes excellent business sense.
By providing staff with flexible work patterns,
* Lloyds’s position could be strengthened and differentiated from its competitors,
* Lloyds gain the long-term commitment and motivation of well-qualified and experienced staff,
* Lloyds offer employees personal benefits and deliver a more complete service to customers and save cost at the meantime,
* Lloyds achieve a healthy work-life balance
3. Job sharing: two members of staff share one job role.
Business gain: Two people combining different experience, skills and creativity into one role. Employee gain: A balance between working and personal life with less stress and better concentration on their work. Case Study - Lloyds TSB That's it,
Thank you! 4. KPMG LLP is also a company which provides wide flextime policy as part of our approach to flexibility. 70 percent of KPMG employees work flexible hours
Example: Fridays during the summer, employees are encouraged to leave at 3 p.m.
5. Services need to be delivered 24 hours per day in Lloyds banking group, with flexible working hours instead of 9 till 5 job this delivery can be reached.
According to Erin Kelly and Phyllis Moen, flexible working hours is good for the health and the well being of the employee. It keeps the employee motivated and gives high performances. For Lloyds banking group this is a benefit because they want good quality of the work.
Flexible working gives a better work-life balance, and this is better of Lloyds banking group because they want the staff motivated and good quality of the work.
6. Organizational Efficiency: With many workers using the flexibility provided by Lloyds Banking Group, top management may face the challenge of ensuring that the organization works efficiently, and there’s no excess (or vice versa) in human resources
Motivation: From another side, the organization will have to provide some type of moral boost to those who are working full-time in a more traditional way. It may be highly discouraging to other workers to see that they colleagues are not working as hard as they do, but are still getting paid the same. It doesn’t mean that those who work part-time should get paid less – but those who work full-time should get paid more, which eventually will require more resources from Lloyds TSB.
. 7. Human relations theory: This strategy is warm and let the people feel good rather than to focus on the job. Management policies are always presented in a positive, unquestioning way.
Advantage: people will be more willing to co-operate with management if they are informed.
Disadvantage: Still the communication is still downwards, so one way communication instead of interaction. It is expressive communication
Human resources theory: This one looks like the Human relations theory but shows actual involvement to the employees.
Advantage: upward and downward communication between management and employees.
Disadvantage: less structured environment and organization.
I would recommend to Lloyds management the Human resources theory. Because: this one is the closest to Quirke’s closeness to the customer strategy. Which focuses on the long-term customer loyalty.
Work options: This led to the Group designing and introducing a unique flexible working policy, called Work Options, a year later.
8. I would say that the internal communication system of Lloyds banking group with a credit bank as corporate culture profile is upward and downward communication, so the horizontal communication system. This because they see customer loyalty very important and long term relationship with the client instead of result oriented. So there must be an open flow of information between the different departments.