HSBC Hong Kong has updated its human resources guidelines to facilitate a hybrid working model, according to an internal memo sent to its employees in early November.
About 30,000 employees of its Hong Kong branch can choose one of the three roles: Flexible home worker, flexible office worker, or a full-time office-based role.
Flexible home workers, who choose to work primarily from home, can spend up to four days per week at home. Those who pledge to commit to this plan for at least one year can receive a one-off allowance of HK$2,500 for buying equipment to help with remote work.
In contrast, flexible office workers, meaning those who choose to work primarily in the office, can work up to two days a week from home.
“We’re constantly looking to develop overall flexibility in how we work,” the memo sent to staff said. “In recent employee exchanges and surveys, some of you have expressed an interest in a blend of in-office and home working.”
In October, HSBC's CFO Ewen Stevenson said that remote working can reduce expenses, which is good for the banking giant's plan to cut US$4.5 billion (HK$34.9 billion) costs by 2022.
Earlier this week, DBS has announced that it would allow its workforce to work remotely up to 40% of the time.
The story was first published by Bloomberg.