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Norwegian wealth fund rethinks working week in wake of pandemic

OSLO (Reuters) – Workers at Norway’s $1.3 trillion sovereign wealth fund will handiest be requested to attain to work on the distance of enterprise on Tuesdays and Thursdays as soon as the COVID-19 pandemic is over, its CEO stated on Monday.

FILE PHOTO: Nicolai Tangen speaks one day of a press conference on his employment contract as he has been appointed unusual general manager of Norges Bank Funding Management Could additionally fair 28, 2020. NTB Scanpix/Hakon Mosvold Larsen

Norges Bank Funding Management, the central bank division that manages Norway’s wealth fund, would provide versatile working to its 520 staff in Oslo, London, Singapore, Shanghai, Tokyo and Luxembourg, Nicolai Tangen knowledgeable a parliamentary listening to.

“We are pondering that after the pandemic we can allow up to two days a week of dwelling space of enterprise and we have two fixed days in the distance of enterprise for all people for meetings,” Tangen stated, adding that this became as soon as a technique of attracting and conserving proficient workers.

The protection would additionally apply to the relaxation of the central bank.

“It be crucial to produce flexibility in a definite diagram than before. It is appropriate not acceptable to require folks to be in the distance of enterprise the general time. I tell it shows that you just don’t belief folks,” Tangen knowledgeable Reuters.

The realm’s biggest sovereign wealth fund is among organisations both big and tiny rethinking ways of working for staff as they adapt to the smartly being restrictions that have upended worn patterns.

In the finance sector, industrial banks are though-provoking to harness working from dwelling to decrease charges, whereas investment banks wish to merchants and advisers wait on in the distance of enterprise.

Tangen additionally knowledgeable the listening to that the fund would elevate the bar on which companies will be included in its portfolio.

“We can now be doing extra screening upfront of tiny companies, before they are included in the portfolio,” he stated.

This would perhaps per chance attain along with a proposed thought to reduce the desire of companies in the fund’s global reference index, mostly by slicing the desire of tiny companies.

Editing by Terje Solsvik and Alexander Smith

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