Lloyds Bank Links Senior Banker Bonuses to Office Attendance

The new policy requires senior bankers to meet a two-day-per-week office attendance mandate to avoid potential bonus reductions.

Lloyds Bank has announced that senior bankers' 2024 bonuses will be tied to meeting a minimum office attendance requirement of two days per week.
The policy reflects a broader trend of companies scaling back remote work flexibility, with other firms like JP Morgan and WPP implementing stricter return-to-office mandates.
Lloyds emphasizes that the attendance metric will be applied fairly, considering individual circumstances, according to the Accord union representing its employees.
The bank has also introduced a new bonus scheme for its lowest-paid workers, allowing junior employees to earn additional performance-based payouts.
The broader shift to hybrid and in-office work is driven by leadership claims that in-person presence fosters development and opportunities, despite pushback from some employees.