LBBW offers parents 10 percent jobs during parental leave

The shortage of skilled workers in the financial sector is getting worse. While many institutions are desperately looking for new employees, the Landesbank Baden-Württemberg (LBBW) is taking a different approach: with an innovative part-time model, it wants to prevent parents from losing contact with the bank after the birth of a child.

In the past, there were employees who did not return after parental leave or only returned very late. “This of course presents us with challenges in times of a shortage of skilled workers and demographic change,” says LBBW Human Resources Manager Christine Neuberger in an interview “Bloomberg News” in Stuttgart.

The new program, called “Keep in Touch,” allows mothers and fathers to work at 10 percent positions during parental leave. This corresponds to around four hours per week. The maximum term is twelve months.

The approach is well received: Since the start of the program, around 30 employees have already submitted an application, including six managers up to department head level. Around 90 percent of those interested are women. As LBBW human resources manager Christine Neuberger emphasizes, all previous applications have been approved.

Demographic change increases the pressure to act

The program is a strategic investment for the bank. Demographic change is increasing the pressure on human resources departments: Current figures from the Index Group show that around 42,000 positions were advertised at banks and fintechs in Germany in the third quarter alone.

From the perspective of the HR manager, “Keep in Touch” is not just a social benefit, but a real performance incentive – despite the high administrative effort for the bank. The international comparison is also interesting: According to Neuberger, LBBW employees in the USA, Asia and Great Britain usually return from parental leave more quickly than their German colleagues.

Tying parents to companies: a new trend in the world of work?

LBBW is not the only institution with such a model. Commerzbank offers its employees the choice between 10, 20 and 30 percent working time during parental leave. However, the 10 percent option there is limited to qualification, maintaining contacts and information.

The start-up “Hey Parents” has also recognized how important it is to maintain the relationship between employees and managers during parental leave. In order to bind employees to the company, the start-up offers a digital assistant that is intended to support parents and companies in managing time off from work in the best possible way.