UBS launched its Virtual Worker Framework, which is described as a new approach to “flexible” working that will offer US workers in eligible roles the opportunity to work 100 percent 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 an international survey, 86 percent of UBS employees stated they “value greater flexibility, including the ability to maintain a remote or hybrid work arrangement.” With continued tech enhancements and positive adoption of virtual work, the firm is finding ways to engage with clients and build trusted relationships.
President of UBS Americas Tom Naratil said, “Hybrid working has positively reshaped the future of our workplace. 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 that 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 should be able to 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 America’s Head of Human Resources Marc Montanaro stated, “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. 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 United States and will be aligned with all regulatory guidelines.