Lloyds Banking Group, Finalist 2014, The DTCC Best for Innovation Award
With just over 91,000 employees working from multiple head office and branch sites across the UK and overseas,business travel plays an important part of Lloyds Banking Group’s operations.
In June 2011 Lloyds Banking Group launched No Travel Week; an initiative introduced to reduce the cost of business travel by actively encouraging staff to avoid all but the most essential travel for one week a month.
Since then, No Travel Week has not only generated considerable financial savings, but has increased productivity (as staff have been able to reallocate time that would have otherwise been spent travelling), improved staff wellbeing (through promoting a better work life balance) and also had a positive impact on the environment by reducing carbon emissions.
A key element of its success has been that No Travel Week has been positively associated with work-life balance and agile working, with the more qualitative benefits of the scheme regularly communicated to help employees recognise the positive impact that less time travelling can have on both the environment and their own wellbeing. Lloyds Banking Group has been able to quantify the success of No Travel Week, which has helped to ensure its acceptance as a normal part of the way that the business works. The initiative is actively monitored, with senior management and stakeholders updated on a regular basis to ensure they are aware of their successes and where improvements can be made.
As the scheme has grown, Lloyds Banking Group has launched a No Travel Week Resource Centre – a micro-site that enables its staff to easily find information about the programme and access a range of conferencing technology that supports collaborative working without the need to travel. Employees across the Group have responded positively and are now far more selective over their need to travel. Audio and Video Conferencing and ‘Live Meeting’ are used as alternatives to face-to–face meetings, which has helped to increase productivity and given staff more time to focus on their own wellbeing.
No Travel Week has also allowed Lloyds Banking Group to deliver early on its environmental commitments. Having set a target to reduce business travel by 20% by 2020 (from Oct 09 – Sep 10 reporting period), the introduction of No Travel Week in 2011 meant that by as early as 2012, business travel had reduced by over 25 percent.
Lloyds Banking Group is keen to continue the success of No Travel Week through further investment in virtual conferencing technology; the promotion of more sustainable travel options and a drive to transform the travel culture of the Group.
Not only does No Travel Week now play an integral role in managing the cost of business travel and in reducing carbon footprint, but it has also helped create a more flexible working environment that enables its staff to focus on providing an excellent service to their clients and customers.