UOB has announced that it is giving the majority of its 26,000-strong workforce the choice to work remotely two days a week once COVID-19 restrictions are lifted.
Underlying the change is the Bank’s desire to ensure the right balance between professional fulfillment of the individual and their mental well-being. Two days of remote working a week has been found to be the maximum for employees to maintain a sense of connection with colleagues and the company and to achieve optimal performance.
The Bank’s announcement follows a six-month review of work patterns, workspaces and workforce technology tools. Approximately 65 per cent of Bank roles, all of which are non-customer facing, were assessed to be suited to working remotely, whether from home or a location other than the employee’s assigned workplace. UOB’s new Remote Work options are in line with broader community sentiment where 80 per cent of people across ASEAN said they wanted some form of flexible work arrangement[2] from their employer.
UOB’s Head of Group Human Resources, Mr Dean Tong, said:
“We believe that the future of the workplace is a hybrid one where employees choose how to manage their work commitments based on the space and place they can be most effective. Working from home during COVID-19 has been instructive due to the speed and intensity of the change but we must look beyond the present and define a future of work that is more sustainable. For example, once safe distancing restrictions are eased, people will want to come together in the workplace for close collaboration, creative solutioning and in-person discussions. They will prefer to connect online for the routine tasks that can be performed from any location.
“This hybrid approach will require some adjustments and we are committed to providing our people with the required resources and support during the transitionary period. Through our Remote Work options, we aim to strike the right balance between providing eligible colleagues with flexibility to manage their work-life priorities and preserving the enterprise, collaboration and camaraderie of our UOB culture,” Mr Tong said.
In supporting its Remote Work options, the Bank will also accelerate its infrastructure improvement plan which sets out the new office standards that will be used across the region. This will enable more agile team-based work and deeper collaboration across different functions within the Bank.
UOB’s agile work model, which started two years ago, is exemplified through the UOB Centre for Innovation at the SGX Centre in Singapore. The Bank’s workplaces are being transformed and retrofitted progressively for high-performance.
In Malaysia and Thailand, head office transformation and relocation projects are underway and expected to be completed in 2022. The new facilities are among the many across the region which will provide a myriad open and multi-purpose workspaces conducive to effective collaboration and social activities.
In Singapore, the Bank will also set up new social spaces in prime locations for its employees to meet and to unwind.
