Revolut, the $5.5 billion fintech startup, says it

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Revolut's London office.
Employees working in Revolut’s London workplace.
Revolut
  • UK fintech Revolut, valued at $5.5 billion, plans to let its greater than 2,00zero workers work abroad for as much as 60 days a 12 months.
  • The coverage, introduced Thursday, follows demand from workers to work overseas, and is because of roll out as soon as journey restrictions elevate.
  • In a survey, Revolut workers mentioned working from house hadn’t decreased their productiveness.
  • See extra tales on Insider’s enterprise web page.

Employees at UK fintech Revolut, one in every of Europe’s largest startups, will quickly have the ability to work overseas for as much as two months annually, the corporate mentioned Thursday.

The coverage would apply to the entire firm’s greater than 2,00zero staff, it mentioned.

“Revolut workers members who want to work outdoors their nation of employment for private and non-business associated causes, shall be ready to take action for a interval of as much as 60 calendar days over a rolling 12 months,” Revolut mentioned in an announcement shared with Insider.

Bloomberg first reported on the information.

The coverage was set to start out as soon as COVID-19 journey restrictions are eased, and would adjust to pointers from nationwide well being authorities, Revolut mentioned.

Learn extra: If you wish to ask your boss to allow you to do business from home ceaselessly, use this script

Revolut, which was valued at $5.5 billion final 12 months, making it the UK’s most respected fintech, mentioned it designed the coverage following requests from workers who needed to go to household overseas.

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“Our staff requested for flexibility and that is what we’re giving them,” Jim MacDougall, Revolut’s VP of individuals, mentioned within the assertion.

Revolut has confronted criticism for the way in which it treats its workers. A 2019 Wired report into the corporate’s work tradition discovered excessive workers turnover and burnout amongst employees. Some candidates have been additionally requested to work free of charge, in accordance with the report. Revolut declined to remark on the time on particular factors within the report, however mentioned its “tradition is evolving as quickly as our enterprise.”

In February, Revolut piloted a hybrid working mannequin that permit workers select between working from house and within the workplace, and mentioned it was repurposing all its workplaces as versatile collaborative areas.

After a survey of its workers, Revolut mentioned greater than one-third needed a wholly distant job, and simply over half needed to do business from home between two and 4 days per week. Simply 2% of workers mentioned they wish to return to the workplace full-time.

Revolut's London office.
Revolut mentioned its survey discovered that working from house did not have an effect on workers’s means to work as a staff.
Revolut

It added that 95% of respondents mentioned that working from house both did not affect their private productiveness or had a optimistic affect on it, whereas the determine was 89% for staff collaboration.

There’s rising momentum for firms to let staff do business from home completely, resulting in some firms canceling workplace leases.

Google is taking the other method: In March, the tech big introduced plans to speculate $7 billion in US workplaces and information facilities, together with new workplaces in Houston, Texas, and Portland, Oregon.

Because the COVID-19 vaccine rollout ramps up throughout the US, some firms are contemplating making vaccinations obligatory for workers, which the Equal Employment Alternative Fee says they’re inside their rights to do.


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