City still dominated by ‘macho’ work culture

The City of London continues to be dominated by a ‘macho’
long hours work culture according to research.

A study by Parents at Work, Opportunity Now and the City Parents
@ Work Group, reveals that despite the widespread availability of work-life
balance policies among City employers, those who choose to take them up are

Researchers were told in discussions with middle and senior
managers from City organisations that requests for flexibility are typically
interpreted as showing a lack of commitment to careers and employers.

The research, supported by PricewaterhouseCoopers, Goldman
Sachs and Simmons and Simmons, also shows that while City employers appear keen
to address the changing expectations of young entrants to the job market,
little attention is being paid to the needs of more senior City workers.

Howard Davies, chairman of the Financial Services Authority
and patron of Parents at Work, said, “City firms cannot afford to alienate the
people they have. They cannot afford a working culture which causes employees
with a family or caring responsibilities to rush for the door. Quality of working
life is forcing its way on to the City agenda as a critical business issue.”

By Ben Willmott.
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