According to a survey by PricewaterhouseCoopers almost half of respondents listed flexible working as a key incentive, eclipsing performance related bonuses which only one fifth of those surveyed listed.

Michael Rendell, HR services leader at PwC, said financial firms that are able to accommodate flexible working will enjoy better levels of staff morale.

It is also widely accepted that those organisations may also be in a better position to retain the most talented employees.

Modern lives are so full with work, commuting, pressure and home/ family responsibilities that people often feel that their lives are being dictated for them and that they have little control over their time. Being able to work flexibly gives people back that control which in turn leads to more productive and balanced lives.

For the financial sector, working from home or other location has sometimes been seen as too risky, where private information may get leaked. But I would argue that this risk can easily be mitigated with processes and technology.

Security measures to protect laptops should be in force whether the employee is based at home or in the office, and voice recording of calls, whether by mobile or landline, can be the norm wherever an employee is located.

The number of job roles which can be performed away from the traditional office building is ever increasing, and this should be the case for the financial sector as well.