(Bloomberg) -- Deutsche Bank AG’s asset manager DWS Group will let staff work outside Germany for almost four weeks a year, as part of its effort to retain staff used to pandemic-era work flexibility.
“This is nice for people who want to stay a little longer in a place where they’ve spent their vacation,” DWS workers’ council head Erwin Stengele said by phone. “The policy is well received by employees, especially younger ones.”
The move sets DWS apart from many other financial services firms which are currently intensifying efforts to get staff back to the office after the Covid crisis led to a surge in remote work. DWS rival BlackRock Inc. is among those, having recently told employees to be back in the office at least four days a week.
Still, other firms including American Express Co., Visa Inc. and Mastercard Inc. have introduced so-called “work from anywhere” periods. The policies give employees a set amount of time — usually two to four weeks — during which they can work entirely from outside the office.
Read More: ‘Work From Anywhere Weeks’ Is the Latest Perk for Office Workers
The DWS policy allows for as much 18 working days abroad for most staff in Germany, with a maximum of 10 consecutive days, Stengele said. It’s a pilot project that’s set to run for a year and the company will then decide whether to extend it or even roll it out in other countries, Stengele said.
The company generally allows employees to work from home at least two days a week and many work remotely three or even four days, Stengele said. Deutsche Bank hasn’t announced plans to roll out the work-abroad policy to the broader group, though it currently allows staff to work from home up to three days per week.
©2023 Bloomberg L.P.