CASE STUDY FOR BUSINESS   REPORT: HSBC

CASE STUDY FOR BUSINESS REPORT: HSBC.

Introduction. HSBC Business sustainability Covid 19 Restriction Introduction of new working settings Remote and blended working.

Hybrid work mode. The hybrid model is the flexible working model that emphasizes remote workers rather than physical workers That Hybrid working is the new cultural model that It promotes a significant portion of the total workforce to perform their duties from remote locations ( Agostoni 2020) Flexibility in the working culture.

HSBC operation management in hybrid mode. Reduction of Office space up to 40% Property downsizing Onsite and Offsite working opportunity Work from home and remote working employees Reduction on dependency on property and buildings Improved sustainability statement 50% reduction travel budget ( Bloomberg, 2021) Reduction in carbon footprint.

Contd.. Fewer environmental loads Employee satisfaction improvements Reduction in managerial prerogatives Work-life balance Reduction in use of space Social relationship spontaneity.

Contd.. There are limitations and challenges for HSBC in hybrid mode Lack of resourcefulness Lack of employee engagement ( Agostoni , 2020) Lack of productivity issues Inequality in resource distribution Increasing relationship barriers.

Hybrid mode impact on sustainability and firm performance.

Contd.. Impact on financial performance Profit margin fall 9% in 2019 This margin rose unto $14.9b in 2021 (HSBC,2021) Improved financial performance.

Sustainable leadership initiatives. Sustainable leadership initiatives have direct impact Bringing cultural changes in the organizational environment The primary initiative should be engaging in organizational practices that support value creation from the employee's end ( Fitria 2021) The Hofstede cultural onion model puts value and practices to the center of the onion. The HSBC leaders should identify such value-creating organization practices and enforce them with the regular working activities, thus fostering a healthy work culture..

Contd.. The other sustainable leadership initiatives should be incorporated with corporate social responsibilities Operational costs savings ( Anser et al. 2018) It should be improving HSBC’s brand reputation and customer loyalty. CSR initiatives have a direct impact on employee performance Stakeholder inclusion Locke’s value theory implies that stakeholder satisfaction should be improved through a reduction in managerial discrepancy incorporate customers and employee perspectives in the operational decision-making process.

Impact on performance and productivity. Improved employee productivity Improved financial performance Improved customer satisfaction Improved communication, collaboration and participation among the stakeholders ( Bayraktar . et al 2017) Improved process and operation management.

Contd.. Economic stability Business competitiveness High Employee engagement Structural improvement.

Conclusion and recommendation. It can be said that the HSBC financial performance should be improved through the combined result of Hybrid working mode and sustainable leadership initiatives Recommendations are Training and development programs and more investment on cultural inclusion.

References. Bloomberg, 2021 HSBC CEO Plans for Permanent Hybrid Work, Much Less Jet-Setting available at https://www.bloomberg.com/news/articles/2021-09-02/hsbc-ceo-plans-for-permanent-hybrid-work-much-less-jet-setting [Accessed: March 5th 2022] Howe, L.C. and Menges , J.I., 2021. Remote work mindsets predict emotions and productivity in the home office: A longitudinal study of knowledge workers during the Covid-19 pandemic. Human-Computer Interaction , pp.1-27. Agostoni , L., 2020. Remote Working: Advice to Reduce Risks and Boost Productivity. Iason Research Paper Series , 28 , pp.1-8. Bloomberg, 2021 HSBC exits or downsizes 77 offices as hybrid work takes hold available at https://www.livemint.com/companies/news/hsbc-exits-or-downsizes-77-offices-as-hybrid-work-takes-hold-11627896349159.html [Accessed: March 5th 2022] Bai, J.J., Brynjolfsson , E., Jin , W., Steffen, S. and Wan, C., 2021. Digital resilience: How work-from-home feasibility affects firm performance (No. w28588). National Bureau of Economic Research. Fitria , G.N., 2021. The Effect of Management Accounting System, Sustainable Leadership and Environmental Strategy on Business Performance with Organizational Culture as Moderator. International Journal of Contemporary Accounting , 3 (1), pp.45-60. Anser , M.K., Zhang, Z. and Kanwal , L., 2018. Moderating effect of innovation on corporate social responsibility and firm performance in the realm of sustainable development. Corporate Social Responsibility and Environmental Management , 25 (5), pp.799-806. Bayraktar , C.A., Hancerliogullari , G., Cetinguc , B. and Calisir , F., 2017. Competitive strategies, innovation, and firm performance: an empirical study in a developing economy environment. Technology Analysis & Strategic Management , 29 (1), pp.38-52..

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