Työaikapankki

Työaikapankki, or working time bank, is a flexible work arrangement used in Finland. It enables employees to accumulate hours worked beyond the agreed time into a common pool (the bank). The accumulated hours can later be redeemed as compensated time off, scheduled leave, or, where agreed, paid out. The goal is to smooth workload fluctuations and provide flexibility without relying on overtime pay in every instance.

The bank is typically established by written agreement between employer and employee, or through a collective agreement. It is managed by the employer or by a jointly agreed scheme. Hours are recorded, balances tracked, and rules for deposits, withdrawals, and maximum balances defined. The agreement specifies when hours may be deposited, how they are used, and whether there is a fixed period for using or cashing out the bank.

In Finland, working time and overtime are governed by the Työaikalaki (Working Time Act) and applicable collective agreements. A työaikapankki is not a universal right; it exists only if it is agreed locally or centrally and must comply with labor-law protections, equal treatment, and tax and social security considerations.

Benefits include greater scheduling flexibility and smoother staffing; drawbacks can be administrative burden and potential pressure to work extra hours. Effective implementation requires clear written rules, regular monitoring, and ongoing communication with employees.