Norwegian wealth fund rethinks working week in wake of pandemic By Reuters

© Reuters. FILE PHOTO: Nicolai Tangen speaks throughout a press convention, in Oslo By Gwladys Fouche OSLO (Reuters) – Workers at Norway’s $1.3 trillion sovereign wealth fund will solely be requested to come back to work on the workplace on Tuesdays and Thursdays as soon as the COVID-19 pandemic is over, its CEO mentioned on



© Reuters. FILE PHOTO: Nicolai Tangen speaks throughout a press convention, in Oslo

By Gwladys Fouche

OSLO (Reuters) – Workers at Norway’s $1.3 trillion sovereign wealth fund will solely be requested to come back to work on the workplace on Tuesdays and Thursdays as soon as the COVID-19 pandemic is over, its CEO mentioned on Monday.

Norges Financial institution Funding Administration, the central financial institution division that manages Norway’s wealth fund, would supply versatile working to its 520 staff in Oslo, London, Singapore, Shanghai, Tokyo and Luxembourg, Nicolai Tangen informed a parliamentary listening to.

“We’re pondering that after the pandemic we’ll enable as much as two days per week of dwelling workplace and we’ve got two fastened days within the workplace for everybody for conferences,” Tangen mentioned, including that this was a approach of attracting and retaining proficient workers.

The coverage would additionally apply to the remainder of the central financial institution.

“You have to supply flexibility another way than earlier than. It’s simply not acceptable to require individuals to be within the workplace on a regular basis. I feel it reveals that you do not belief individuals,” Tangen informed Reuters.

The world’s largest sovereign wealth fund is amongst organisations each massive and small rethinking methods of working for workers as they adapt to the well being restrictions which have upended conventional patterns.

Within the finance sector, business banks are shifting to harness working from dwelling to chop prices, whereas funding banks wish to merchants and advisers again within the workplace.

Tangen additionally informed the listening to that the fund would elevate the bar on which corporations will likely be included in its portfolio.

“We are going to now be doing extra screening prematurely of small corporations, earlier than they’re included within the portfolio,” he mentioned.

This may come along with a proposed plan to scale back the variety of corporations within the fund’s world reference index, principally by chopping the variety of small corporations.

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