Quote from Tony Cripps, CEO: "HSBC remains steadfast in our support of employees, customers and the recovery of the Singapore economy. However, the fluid nature of COVID-19 within Singapore means that we need to retain flexibility in our approach. As such, we have put together broad principles that will frame how we decide to operate as we go through the various phases of safe recovery."
HSBC Singapore’s principles are as follows:
HSBC has well-established policies, technology and management support to enable and empower employees to work from home. During the peak of the circuit breaker phase in April, we had 87% of our employees working from home. Our ability to support customers remained stable. HSBC supports the Singapore government’s advisory1 for employees to remain working from home if they productively can.
During this period, we are focusing on ensuring our employees remain connected through structured virtual wellness and development programmes. These include mental and physical exercise classes, financial health webinars, resilience workshops and wellbeing activities, conducted over Zoom. We also have bi-weekly video call with all employees for senior management of the bank to address questions and concerns, in addition to regular engagement sessions run by senior management in their respective areas.
For our customers, the pandemic has meant that we have had to adapt and change the way we do things in order to stay connected and provide them with the best service possible. Here are some examples:
Some of these digital changes are likely to become permanent features going forward. While banking will remain a people business, the way we interact with our customers will change, and these digital banking solutions will help us to fast-track our goal in becoming the bank of the future.
Following the Singapore government advisory, we are opening the option for our people to return to the office. In instances where employees are seeking to return, we are arranging this in incremental waves of 10-15% each time. The waves will be spread over several weeks, taking into consideration external and internal factors such as Singapore Government requirements, number of community cases, staff readiness, personal protective equipment availability, public transport availability, testing availability, etc. Where there is any doubt, we will err on the side of caution.
For employees who will be in our branches and premises we will maintain the following safety measures:
HSBC is actively participating in the Return to Onsite Operations Taskforce (ROOT) organised by the Association of Banks in Singapore (ABS), which focuses on the measures that will become the ‘new normal’ in offices and branches. While the taskforce discussions are still underway, the emphasis has been largely on managing the wellbeing of employees and customers. HSBC is also taking this opportunity to collaborate with government agencies to reduce paper-based workflows and third party vendors, thereby enhancing our digital capabilities.