Standard Chartered Singapore has about 83% of its workforce on flexible work arrangements & More News Here

To facilitate this new means of working, the Bank coated almost S$7mn in prices to assist staff arrange their house places of work by way of a one-time nett cost of roughly S$1,000 per eligible worker.

Standard Chartered Bank Singapore has now positioned roughly 83% of its eligible staff on flexible work arrangements (FWAs).

This was accomplished by way of the Bank’s FWA programme referred to as “Future Workplace, Now” (FWN), designed to empower its staff with the autonomy to “choose their most efficient and sustainable way of working”.

According to its assertion, the FWN programme was piloted in Singapore, alongside eight different key markets in its first section in Q1 2021 – which as shared completely with Human Resources Online, consists of Hong Kong, the United States (US), the United Kingdom (UK), the United Arab Emirates (UAE), in addition to Malaysia, India, Mainland China, and Poland the place its international enterprise companies centres are positioned.

Under FWN, staff have the pliability to decide on to work from the workplace, from house, or from any of the International Workplace Group places throughout Singapore, “if their roles permit for them to do so”.

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“The role of the workplace has shifted from a space to fulfil work duties, to an agent for socialisation and collaboration, and it is now more important to foster an outcome-focused culture that produces desired outcomes and results,” it was defined within the assertion.

“The concept of flexi-working, coupled with flexi-benefits and flexi-learning, has been ongoing in the Bank for the last decade and is a key employee value proposition that underpins the Bank’s overall ‘employee-first’ people strategy to attract the best talent and future-proof their job roles.”

Based on its knowledge, the Bank shared that greater than six in 10 (61%) of its staff in Singapore selected to work from the workplace two to 3 days per week as they sought to strike steadiness between working from house, and the workplace. To facilitate this new means of working, it was shared within the assertion that the Bank coated almost S$7mn in prices in April 2021 to assist staff in Singapore arrange their house places of work by way of a one-time nett cost of roughly S$1,000 per eligible worker.

Translating the aforementioned to outcomes, the Bank’s spokesperson completely shared with Human Resources Online that in an annual worker survey in 2021, staff felt the present means of flexible working is efficient – shut to 3 quarters (74%) of respondents agreed that the FWN arrangements allowed them to strike an inexpensive steadiness between their private and work lives. This, in line with the organisation’s knowledge, represented a 2% improve from 2020.

Charlotte Thng, Head of Human Resources, Singapore, Australia & ASEAN Markets, Standard Chartered Bank mentioned: “Our persons are the important thing driver and property of the Bank and we now have all the time championed an employee-first mindset. We recognised a number of adjustments and new initiatives needed to be made, given the modified nature and necessities of working within the post-pandemic world, and are centered on investing in the most effective surroundings and instruments for our staff.

“We continue to listen to our employees’ needs and seek ways to offer the best employee experience in Singapore so that they can flourish at work and deliver the best for our clients and communities.”

With regard to why solely 83% of the workforce are on FWAs, the Bank shared that whereas all eligible staff are welcomed to take on FWAs that greatest help their optimum working wants, such an choice “may not apply” to roughly 20% of the workforce as they’re “required to perform specific roles in the office or are tagged to a particular branch location”.

“For example, client-facing roles, on-site operations, and et cetera. Nonetheless, they are encouraged to have open conversations with their People Leaders to discuss other flexi-work possibilities if needed,” the spokesperson defined.

On a separate notice, the spokesperson additionally shared that the FWN has been “very well-received” amongst the Bank’s staff since its roll out in 2021, and the Bank will proceed to “offer it to all eligible employees”.

“Since the safe reopening of our economy earlier this year, the Bank also encouraged all People Leaders to review and revise each team members’ work arrangements accordingly and where necessary. This was with the intention to better suit the changing needs at work and balance responsibilities at home. As long as People Leaders and roles requirements are agreeable, improvements to the FWN arrangements which are highly flexible can be made at any time for the benefit and wellbeing of each employee,” the spokesperson mentioned.

Read additionally: Singaporean staff need flexible work and WFH arrangements because the norm for right this moment’s office

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Image / Standard Chartered’s asset library

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