HSBC Malaysia's hybrid work model

The Bank's hybrid work model is part of a global initiative to improve wellbeing, provide more flexibility, and reduce the global office footprint by around 20%.

As part of its commitment to its Future of Work (FOW) model in 2022, HSBC Malaysia has adopted a hybrid work model. The new work arrangement will empower HSBC employees with the flexibility to decide on the work routines best suited to their roles and their customers on when they would like to work from office or work from home.

Prior to this adoption, HSBC Malaysia has been easing the transition into the hybrid work model for its people. This was done through a FOW change management journey that provided employees with a one-time cash reimbursement to all eligible employees for the purchase of office equipment, and necessary IT and security infrastructure to support large-scale work-from-home arrangements.

Beyond such support schemes, focus groups, for instance, have also been ongoing so that HSBC can continue to address the needs of its people and make hybrid and flexible work more sustainable. Other initiatives include:

  • Mental health
    • Employees have access to a global support service in the form of an employee assistance programme (EAP). This is a free, independent, and professional counselling service for HSBC employees and their dependants to get help on a wide range of issues;
    • Employees have free access to Headspace app, and
    • Friday afternoons have been declared 'meeting-free' so employees can prioritise completing their tasks and go into a relaxing weekend.
  • Wellbeing Leave
    • 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
    • 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
    • In-house clinics, a gym, and exercise studios will be available at Menara IQ for employees;
    • Updated staff medical plan to include COVID-19 related coverage, and
    • Telemedicine to enable employees to consult a doctor from the safety and comfort of their home.

Commenting on this, 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."

The Bank's hybrid work model is part of a global initiative to improve wellbeing, provide more flexibility, and reduce the global office footprint by more than 3.6mn sq ft (or around 20%). In Malaysia alone, HSBC has invested more than RM1bn into its headquarters at Menara IQ, Tun Razak Exchange (TRX) as part of its commitment to enhancing focus on work flexibility, providing a fit for purpose modern working environment, and integrating environmental sustainability.

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