Value context and insight. lkm@koreatimes.co.kr
Shorter workweek changing bank culture
By Lee Kyung-min
By Lee Kyung-min
With the introduction of a shorter workweek ― 52 hours from 68 ― from July 1, financial services firms have introduced various measures to improve productivity and minimize potential pitfalls.
Under the new system, owners of businesses with more than 300 workers that fail to follow the revised law will be given a verbal warning.
Those who ignore the verbal warning will face up to two years in prison or up to a 20 million won ($18,000) fine. But Businesses with fewer than 300 workers will be granted a six-month grace period.
Woori Bank has launched a “Dos and Don'ts” campaign to give clear sguideline to senior and junior level workers.
In May, the bank said after-work get-togethers should not necessarily involve drinking alcohol and let cultural activities count including watching movies or art performances.
In June, workers were directed not to engage in matters relevant to work, and senior figures were ordered to go home early to let lower-ranking workers feel easy in following suit.
In July, workers discussed ways to share workloads in an equitable manner so as to prevent workers from certain departments overworking.
“These are measures to help us improve productivity,” a Woori official said.
“Most notable is that workers are increasingly feeling not guilty about leaving on time, which was impossible before unless the boss left,” he added.
Another campaign, “111,” stipulates that all reports should be written on one stack of paper, all meetings end within one hour and feedback be given within one day.
Woori Financial Group, which has fewer than 300 workers, will begin implementing the program staring Oct. 1, three months before the revision is set to take effect for it on Jan. 1.
Shinhan Bank is running software which automatically turns off desktop computers nine hours after they were turned on, and limiting their operation to 40 hours during weekdays. They can stay on for up to 10 more hours a week in limited cases.
The bank let their workers begin meetings after setting alarms to go off every five, 15 and 30 minutes to let people know when the meeting should end.
Workers are encouraged to have a meeting in a room standing instead of sitting down to make it easier for them to break off.
The bank has adopted automation to deal with 13 sorts of repetitive work at six departments.
Workers with NongHyup Financial Group can take off certain weekdays of their choice if they have to work on state-designated national holidays.
The group also allows a flexible working hour program, whereby workers are able to come in and leave work as long as they work eight hours a day.
Similar flexibility is granted to workers at 45 branches of KB Kookmin Bank.
KEB Hana Bank has opened an online bulletin board where workers can share frequently asked questions and answers concerning the new workweek.
The bank will reward those who come up with effective ways to improve productivity and improve employee morale, to encourage people to not feel guilty about complying with the new law.