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State Street

At State Street, we partner with institutional investors all over the world to provide comprehensive financial services, including investment management, investment research and trading, and investment servicing.

Whether you are an asset manager, asset owner, alternative asset manager, insurance company, pension fund or official institution, you can rely on us to be focused on your challenges. We are committed to doing what it takes to help you perform better — now and in the future.

Location
20 Churchill Pl, London, E14 5HJ
Website
Industry Financial Services
Company size:   1,001-5,000 employees
Industry:   Financial Services
Company Details
Address
20 Churchill Pl
London
E14 5HJ
 
Contact
Industry
WORKYOURWAY INSIDER VIEW

State Street is known for its flexible working approach and has offered flexible work arrangements for over 20 years. Their Flex Work Program allows individuals to request a Flex option to meet their needs, these include Flex place, compressed schedule and reduced hours. 

What we love about State Street:

💡State Street is committed to supporting families and therefore offers paid parental leave, back-to-work support as well as flex working arrangements.

💡State Street offer two paid days off for volunteering.

What's worth checking about State Street:

💡 Employees must request flexible working arrangements which may be location and role dependent.

Articles about State Street: 

💡 State Street, which manages $3.5 trillion, is closing its New York offices

💡 State Street: New York Workers Will Work From Home 

Flexible Working Approach

Flexible work arrangements have existed at State Street for more than a decade, initially on an individual, as-needed basis.Due to high employee demand, it has evolved into a proactive, holistic approach through the creation of the Flex Work Program.

Initially, the program sought to formalise flexible work arrangements that had been growing organically across the organisation by providing a framework for employees. As the program gained momentum, we decided to integrateFlex with our business strategy; transitioning from a disparate collection of employee-initiated arrangements into a proactive, manager-initiated program supported by an array of tools, technologies and resources.

Why Manager-Initiated Flex Makes Sense

The power of our organisation comes from our people. Organisational sustainability is dependent on meeting our employees’ diverse needs in ways that also address business needs.Manager-Initiated Flex is a tool for both managers and employees to increase workforce efficiency by allowing teams to work more collaboratively, with greater innovation and increased ability to optimise costs for the organisation:

1) Flex work arrangements are proactively offered by managers to employees as part of a management tool set

2) Leaders evaluate role feasibility; making decisions for individuals based on role, needs, etc.

3) Employees still have the opportunity to initiate a flexible work arrangement with their manager

Through our formal Flex Work Program, we offer our employees the opportunity to request from five formal flex work options to give them the flexibility they need in terms of when, how and where they work.

 

FLEXIBASE WORKING PATTERNS DEFINITIONS
Part-time: An employee who works fewer hours than a full-time worker. There is no specific number of hours that makes someone part-time, but a full-time worker will usually work 35-40 hours a week.
Flexi-Time: This is a working schedule that allows employees to choose when they start and end their workday, usually to accomodate an individuals needs and other commitments outside of work.
Compressed Hours: This is where an employee increases the volume of hours worked each day in order to reduce the number of days worked.
FLEXIBASE WORKLOAD DEFINITIONS
Reduced Hours: This is a provision given by an organisation to an employee to work for a lesser number of hours as compared to the mandatory working hours set for all employees.
Job Share: An arrangement where two people, or sometimes more, are retained on a part-time or reduced-time basis to perform a job normally fulfilled by one person working full-time.
Phased Retirement: This refers to an approach that gives employees the ability to manage the transition from full-time employment to retirement.
FLEXIBASE WORKPLACE DEFINITIONS
Hybrid Working (Office / Home): This means an employee splits their time between the workplace (usually office based) and remote working (usually at home).
Work From Home (WFH): This is where an employee has the ability to set up their workspace at home, and manage their work without the need to go to the office.
Office Working: This refers to an employee being physically present in the workplace to fulfil their contractual responsibilities.
FLEXIBASE LIFE EVENT DEFINITIONS
Career Breaks / Sabbatical: These are an extended periods of agreed absence from work. The term is often used interchangeably with "sabbatical", which is generally taken to mean a shorter period of leave of several weeks or months.
Shared Parental Leave: This allows parents to share a portion of leave and pay with their partners to care for children from birth, usually until their first birthday.

*Please note that not all flexible working options may not be available for every role.

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