This 155 Yr Old Bank Allows 100% Work From Home With 4-Day Week & Rs 24,000 Allowance

This 155 Yr Old Bank Allows 100% Work From Home With 4-Day Week & Rs 24,000 Allowance
This 155 Yr Old Bank Allows 100% Work From Home With 4-Day Week & Rs 24,000 Allowance

Now Hong Kong based HSBC employees can work up to four days a week from home, according to an internal staff memo.

Flexibility In Working Options

The Banking giant HSBC said to its 30,000 staff in Hong Kong that they can  work from home for four days a week.

Further, HSBC Holdings Plc said that their staff will have greater flexibility to work from home.

As we all  can see that  the Covid-19 pandemic is transforming the role of the office in business life.

Options For HSBC Employees

According to this new arrangement, the HSBC banking staff have three options now – 

  • Spending up to four days a week at home, the flexible home workers would work primarily remotely.
  • Flexible office workers – will primarily work in the office, but still have an option to work from home for two days.
  • Third option is to choose to work permanently from the office.

What Does HSBC Say?

The memo sent to staff on Nov. 4 said, “We’re constantly looking to develop overall flexibility in how we work,”. 

“In recent employee exchanges and surveys, some of you have expressed an interest in a blend of in-office and home working,” it read.

How Will This Help?

More remote working for some of its staff may reduce office costs, according to the Chief Financial Officer HSBC, Ewen Stevenson.

With this move, HSBC is joining the league of other global and regional lenders who have already adapted to a new normal spawned by the pandemic.

Moreover, some banks in Europe also predict that banking staff will be working about half their time from home even after the pandemic passes.

What Will Change?

The memo mentioned that the staff committing to work for two or more days a week from home for at least one year will also receive a one-off allowance of 2,500 Hong Kong dollars ($322) for remote working purchases.

Contrary to this, last week, researchers at Deutsche Bank, called for a 5% “privilege” tax on people choosing to work from home. 

As they are planning to support people on low incomes who cannot do their jobs remotely.

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