HSBC Provides Flexibility With Hybrid Work Model Improving Employee Wellbeing
Kuala Lumpur, Dec 5, 2021 – In line with HSBC Malaysia’s move to its new headquarters in Menara IQ, Tun Razak Exchange (TRX) and its commitment to the Future of Work (FOW) model, the bank has moved to a hybrid work model. This will empower HSBC employees with the flexibility to decide on the arrangement best suited to their roles and their customers on when they would like to work from the office or from home.
By implementing the hybrid work model, HSBC aims to promote better health and wellbeing amongst its people. The new flexible working style will also see improved productivity as engagement between teams and customers become more purposeful.
Commenting on the new work arrangements, Sugunah Verumandy, Country Head of Human Resources, HSBC Malaysia, said: “How we work today is different to the past. Many of our people felt just as, if not more, productive at home as in the office throughout the pandemic. But some also told us they have often worked longer hours and have missed human interaction. Learning from this, we are continuously and proactively shaping the way we work.”
“Hybrid working is not only about where we work, it’s about how and when we work. We’re creating a culture that enables us to be at our best and deliver exceptional outcomes for our customers- a culture that promotes flexibility, collaboration, learning and wellbeing in both the physical and virtual workplace,” Verumandy added.
The hybrid work model is part of a global initiative to improve wellbeing, provide more flexibility and also reduce the global office footprint by more than 3.6 million square feet-or around 20% by the end of 2021. In Malaysia alone, HSBC has invested more than RM1 billion into Menara IQ at TRX as part of its commitment to enhancing focus on work flexibility, providing a fit for purpose modern working environment, and integrating the highest standards of environmental sustainability.
To ease the transition into the hybrid work model for its people, HSBC has also ensured that its teams have undergone a FOW change management journey, provided employees with a one-time cash reimbursement to all eligible employees for the purchase of office equipment and ensured they had the necessary IT and security infrastructure to support large-scale work-from-home arrangements. Focus groups are also ongoing so that HSBC can continue to address the needs of its people and make hybrid and flexible work more sustainable.
The holistic wellbeing of its people has always been integral to HSBC and various initiatives have been implemented in support of it:
Mental Health
o Employees have access to a global support service known as the Employee
Assistance Programme (EAP). It is a free, independent and professional counselling service for HSBC employees and their dependants to get help on a wide range of issues.
o Employees also have free access to Headspace app – the internationally renowned meditation and mindfulness app.
o Friday afternoons have been declared “meeting-free” so employees can prioritise completing their tasks and go into a relaxing weekend.
Wellbeing Leave
o An additional leave day for employees to take a day off to undergo their
yearly medical check-up or to engage in any self-care activities.
Development Day
o A day dedicated for employees to focus on themselves and their self-development, leveraging online resources and webinars HSBC has made available to them or join a training course on HSBC University or have a career conversation with their line manager.
Physical Health
o In-house clinics, a gym and exercise studios will be available at Menara IQ for employees.
o Updated staff medical plan to include Covid-19 related coverage.
o Telemedicine to enable employees to consult a doctor from the safety and comfort of their home.