Amid a shifting landscape of workplace norms, Lendi Group has championed its “flex first” policy that allows employees to work on their own terms to suit their lifestyle, challenging the office environment status quo and reaping the rewards of increased productivity and sustained growth.
Lendi Group CEO David Hyman (pictured above far left) said that the Australian broker network, which has around 1,000 employees and 1,500 brokers, would continue with its flexible work approach adopted in March 2020 during the pandemic.
“The way we work has changed,” Hyman said. “The old model of working in a fixed office from nine-to-five is no longer the norm for many people and it certainly isn’t for Lendi Group. Employees are demanding more flexibility, and businesses need to realise that there are significant benefits to allowing, and encouraging, employees to work flexibly.”
This stands in contrast to the approach adopted by the major banks, with Commonwealth Bank (CBA), Westpac, and ANZ all committed to return-to-work policies to varying degrees.
Only NAB, which initially ordered its staff back to the office in May, has introduced a policy that favours remote work, giving employees legal protections after reaching a deal with the Finance Sector Union this month.
Under Lendi Group’s flex first policy, employees can work from a location that suits them and the hours which work best for their family and lifestyle. It also allows brokers to operate a customer-first approach, which helps in times of home loan demand, said Hyman.
“This doesn’t mean we have a ‘WFH Policy’, on the contrary, we have a policy that allows our people to change their spaces depending on their work,” Hyman said.
“This might mean that they are in the office four days out of five due to the nature of their work, or it could mean they are in the office once or twice a year when we come together as a business for our planning events.”
How flexible work promotes growth and productivity
The move to flexible work has meant that Lendi Group employees operate in a variety of ways.
Currently, more than 80% of staff spend four days working from home, a small percentage spend five to 10 days per quarter in a Lendi Group office and 36% of staff spend five or less days in any office in a quarter.
The policy has also increased productivity and growth, according to Nicole Johnschwager (pictured above centre left), Lendi Group chief legal and operations officer. She said that mandatory work-from-office policies were “at odds” with fostering a healthy culture of performance and collaboration.
“Lendi Group ensures our flex work policy is company-wide, as we believe mandating office attendance for career progression excludes a large cohort of employees from achieving their full potential, including new parents, carers and those living in rural or regional areas,” Johnschwager said.
With 70% of the Lendi Group workforce based regionally, the policy has helped support regional business centres and allowed employees to access more affordable housing options.
“A flex first policy benefits the economy more broadly. It helps address important issues in society –ones that often fall on women, migrant workers or young people – including childcare, navigating urban sprawl, transport time and cost,” Johnschwager said.
“It assists with skill shortages, helps with the rising cost of living, and can assist many households with housing shortages in capital cities and home ownership affordability.”
The data suggests this approach has worked for Lendi Group, evidenced by its strong market share growth of +0.2% on a rolling three-month basis to May.
“With more flexibility, Lendi Group has seen better, stronger, and more sustained productivity and Growth,” Johnschwager said. “We have three years of evidence to show this policy works, to consider reverting our business back to the ‘old’ way of operating now seems unthinkable.”
Adapting policy to the lifestyles of workers
While the debate about working from home often centres around productivity rates and bottom lines, ultimately it’s the workers who are impacted by these decisions.
Jade Borg (pictured above far right), a NSW-based Lendi home loan specialist, was one of the employees who benefited from this transition away from rigid work structures.
After being made redundant a year ago and having her fourth child soon after, Borg said the prospect of re-applying and returning to work was “horrifying”.
“Working in a flexible workplace means I can work to my highest ability whether it be from one of our offices or from the children’s sports centre,” Borg said. “I predominantly work from home which allows me to spend valuable time with my one-year-old and attend the office once a month.”
“I also do school pick-ups and drop-offs every day. Having this work life balance means I do not have to miss out on milestones in my children’s lives and deal with the ‘mum guilt’ of having to have them in fulltime care.”
On the other end of the spectrum, Trent Kelly (pictured above centre right), recruitment marketing manager for Lendi Group, makes up part of the 30% of Lendi Group employees who still choose an office environment for their workspace.
Joining the company in the middle of a COVID lockdown, Kelly didn’t have the opportunity to meet any colleagues face-to-face for the first couple of months.
“I’d been working exclusively from home for almost two years prior, so once things opened back up, I was desperate for a bit of human interaction, so I immediately commenced working a few days a week in the Sydney office,” Kelly said.
“Now, I will typically work two days a week in the office. This helps me keep connected with colleagues and gives variety in my weekly routine.”
With his line manager based in Queensland and his colleagues scattered across the country, Kelly often visits the office in Sydney for face-to-face connections when they are there.
In a normal week, I tend to base my office days around commitments I may have after work, or I will come in when I know that people who I’m working closely with are also going to be in the office,” Kelly said.
“Not having to commute every day saves time, money and keeps me fresh and focused while the freedom to set my own schedule helps me strike a good work-life balance and keep my work and personal lives well-structured and organised.
“Lendi Group’s faith in its people to do their best work regardless of where they are or when they do it drives me to return that faith by striving to be a high performer.”
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