Come back to the office or risk bonus cuts, HSBC staff told
- HSBC told its UK staff they must work at least three days a week in the office or risk reductions in their bonuses starting September 2023.
- This policy follows similar measures by Lloyds, Barclays, and JP Morgan aiming to increase in-office attendance after widespread remote work during the pandemic.
- Managers receive monthly data tracking whether employees meet a 60 percent attendance target, which influences overall performance assessments tied to variable pay.
- HSBC employs about 24,000 people in UK retail and commercial banking, with failure to meet office presence potentially affecting bonuses, mirroring Lloyds’ approach announced in January 2023.
- This stricter stance signals a broader finance industry shift to reduce remote work and reinforce office culture, reflecting concerns about mentorship and productivity.
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12 Articles
Money blog: HSBC 'sends ultimatum' to staff working from home
Welcome to the Money blog, Sky News' consumer and personal finance hub. Today: declaring some medical conditions increases travel insurance premiums by more than 1,000%; UK borrowing has soared, prompting tax rise speculation; and HSBC is clamping down on working from home.
HSBC UK links bonuses to office attendance
HSBC UK has introduced a new policy that connects employee bonuses with office attendance, reinforcing its push toward in-person work. Employees must now be physically present in the office for at least 60 per cent of their working time. Failing to meet this threshold may negatively impact performance reviews and annual bonus payouts. The updated directive applies across the bank’s office-based workforce. Employees have been informed that consis…
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