Investec's new leave and dress policies

02 July 2019 Investec

Investec is introducing new leave and dress practices for all South African employees. Staff will have the option to move onto a new leave system which will not seek to limit the number of days they can take per year. The new dress policy will give staff the freedom to choose how to dress based on their tasks/meetings for the day.

New leave policy
To accommodate the changing world of work we need to rethink the notion that there is a direct correlation between time and performance. The concept of performance being limited to the policies on time or office space is becoming irrelevant.

From September 2019, Investec staff with have the option to remain on the current leave policy or to migrate to a new more flexible policy, where staff are no longer limited to a set number of days.
• Investec is the first large corporate in South Africa to introduce this type of leave policy for ALL staff
• This represents a move towards time-based value to output-based value: We are redefining time and looking at amplifying value here, so we reward people for their output
• The focus is on a more distributive leadership model where teams own decisions and performance
• The new policy is intended to further enhance the high-performance culture at Investec

Global stats:
• 1 in 2 employees would leave for a more flexible alternative
• 1 in 2 employees feel more productive with greater flexibility
• 36% of workforce says a lack of flexibility prevents them from taking care of their health
• Of 30% of women who drop out of the workforce, 70% would stay if there was greater flexibility

Dressing for your Day
Investec is introducing ‘dress for your day’ with immediate effect. In this regard it is not a dress down policy, it’s an approach to people thinking about their day and having a high level of freedom around the appropriate dress for that day, taking into considering their stakeholders, their businesses and who their colleagues are on that particular day.

Lesley-Anne Gatter, Head of Human Resources, Investec SA:

“An organisation that is bound by policy that restricts and constrains people through time and through dress is a very limiting environment”

“The leave policy is less about time and more about how work is contracted, people’s roles and the clarity around their roles and what they need to deliver on. It is also incumbent on leadership’s ability to lead culturally in our environment around output, entrepreneurialism, freedom and ownership in terms of performance.”

“These two policies are really about trust and building high levels and engendering trust in all parts of our environment.”

Nicola Tager - Head of Careers, Investec SA:

“People are saying in this day and age give me my time back, give me the control of my own time, give me a capability to think about what time means to me in a way that I can manage not just my world of work but my life, so flexibility is seen as a leading benefit.”

“We’ve chosen these two new policies because they truly highlight the artefacts of the organisation’s culture and therefore it aligns with us so personally as well.”

“We believe the employee experience will result in an out of the ordinary experience for our people and truly drive out of the ordinary performance for our clients and for our shareholders.”






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