HSBC Singapore moves into new digs with hybrid model

Singapore

IT WAS a big move for HSBC Singapore - after more than 140 years at the original Collyer Quay site where its first branch was set up, the bank was ready for a change of scene. That came in the form of its new headquarters at Marina Bay Financial Centre (MBFC).

But it's safe to say a global pandemic was not part of the plan.

So the big move came with refreshed ideas on how staff can work from both home and the office. Today, the bank has embraced a more flexible and hybrid way of working at its new office at MBFC Tower 2, HSBC Singapore told The Business Times.

Its newly upgraded offices at MBFC and split site at Mapletree Business City can now house 65 per cent of staff abiding by the one-metre safe distancing rule.

The bank, which moved in to MBFC Tower 2 last year, has a 3,300-strong workforce in Singapore. It is now an anchor tenant at that tower, taking the top seven floors.

The latest hybrid work arrangement means staff would come in about three days per week, depending on the needs of different teams and individuals. The bank recommends that staff come into the office at least once every two weeks, a HSBC spokesperson said.

To equip the bank for the future of work, HSBC moved from traditional fixed desk seating to an "activity-based" workplace where employees have a variety of individual and shared spaces available to work or collaborate with others.

A HSBC spokesperson said that there are more meeting rooms, collaborative areas, focus spaces, shared dining and pantry spaces, and height-adjustable desks for staff to pick the most ideal option to suit their task at hand.

The IT infrastructure also supports the physical setting, with webcams installed for every laptop and desktop, on top of video-conferencing tools for use in meeting rooms.

It now occupies about 140,000 square feet at MBFC. This is smaller than the 200,000 sq ft in its previous location at Collyer Quay, but the bank had previously said it could accommodate more people because of the more efficient floor plates, and the open-plan workspace the bank is shifting to.

There are ongoing courses on how to manage dispersed and hybrid teams, as well as focus groups on pain points and how to make hybrid and flexible working more sustainable, said the bank.

Brandon Coate, head of human resources, HSBC Singapore, said forward-looking companies create working environments that enable employees to "deliver high customer impact while suiting their personal lives".

"HSBC Singapore has worked extensively over the past two years to create this environment, and there is more we will do to refine our approach," he added. "But at its essence it is about bringing policy, infrastructure, risk management, technology, trust and culture together in a structural and lasting way."

Work-from-home is no longer set as the default working mode by the government, but the bank thinks that now is the right time for employees to "re-engage with their teams" on how they perform their roles and the frequency in which they will be in the office, said Mr Coate.

The bank gave a one-time reimbursement of S$500 to eligible staff to buy office equipment. It also launched telemedicine so staff can consult a doctor remotely.

HSBC first announced in 2018 that it will move from its premises at 21 Collyer Quay - where it was the sole tenant of the 21-storey office building - to MBFC Tower 2 to accommodate its growth plans. Its lease for 21 Collyer Quay ended on April 1, 2020.