Intesa Sanpaolo adapts to unprecedented environment
The Italian bank has been proactive in creating new ways of doing business due to the COVID-19 outbreak in the country.
Italy has been struck incredibly hard by the COVID-19 outbreak. The virus has completely overwhelmed the country’s health care system and led to the government imposing a countrywide lockdown on March 10th. With the initial end date set for April 3rd, Italian Prime Minister Giuseppe Conti announced over the weekend that the lockdown was set to remain in place beyond the beginning of April.
It is amidst these extraordinary conditions that Italian banks find themselves trying to chart a difficult path forward. Efma member Intesa Sanpaolo is one of those banks. Last week, they announced a significant initiative that would help ease the burden on their employees. The bank will give its employees a special bonus of six extra days of paid holiday, on top of those already guaranteed by law and the terms of the National Collective Bargaining Agreement. These days will be available to take as of the end of the public health emergency until 30 November 2020, with the possibility of monetizing part of this extra holiday period (indicatively 3 days) if not used. This extra holiday they are providing amounts to an overall company contribution to the value of approximately 25 million euros.
Intesa Sanpaolo is aware of their responsibility to their employees during this particularly difficult moment. In particular, to those who work in the various branches to ensure ongoing public service and those who are unable to resort to smart working. These extra days of holiday should go some way to relieving the pressure the bank’s employees are undoubtedly feeling during this time.
Intesa Sanpaolo’s Managing Director and CEO, Carlo Messina, said: “Here at Intesa Sanpaolo we have never underestimated the scale of this public health emergency. Our top priority is the safety of all our personnel. This is why we acted promptly, on a large scale, to activate all possible measures for smart working. At the same time, we are working to ensure customer service activities with maximum flexibility, guaranteeing remote banking in order to allow our customers to enjoy ongoing service while staying at home.”
Banks have a duty to their employees and customers to put in place programs that support everyone affected during the upcoming months. Intesa Sanpaolo is but one example of banks all over the world demonstrating an understanding of the gravity of the situation. It is no easy task to maintain a high level of customer satisfaction with heavy restrictions on in person gatherings. With this announcement, Intesa Sanpaolo is ensuring they continue to provide all necessary banking services to Italians while making life a little easier for their employees.