Why is HSBC’s CEO Relinquishing His Work Desk?

  • Published On: May 21, 2021
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  • Updated On: August 30, 2021
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  • Hot Desking

Noel Quin, CEO of HSBC, and other senior managers have been asked to relinquish their work desk at its Canary Wharf Head Office. Before you think that this is a ‘fall from grace’ moment, let us confirm that it is not. HSBC has decided to join the latest hot desking trend. The finance giant has decided to reuse the entire executive floor into client meeting rooms and collaboration spaces. 

Quin told Financial Times that space was almost always half empty since senior folks were traveling for work, which in real-estate terms was a waste. He also mentioned that as of now, he wouldn’t be in the office all five days since “it’s unnecessary” and “the new reality of life.” 

The Bank plans to reduce its real estate footprint by 40% and isn’t going to be renewing a number of its leases due in the coming three to five years. Quin also mentioned that they would be enforcing two employees per desk policy, excluding branches. 

But, wait, what is hot desking? 

Hot desking is a method of workspace management derived from a 16th-century practice on ships known as ‘hot bunking, where sailors would use the bunk that was available to sleep in. In an office, using hot desking, the employees are not assigned a desk but given the ability to choose from whichever desks are available at the time. 

Click here to learn more about Hot desking

Why are companies like HSBC adopting hot desking?

The answer to that is quite simple- Cost Saving, especially in this post-pandemic work era where most companies provide employees with the flexibility to work from home or office. Recent statistics show that most employees have said that they would like to split their time between the office and home. 

Even before the pandemic, office spaces were grossly underutilized. A study showed that in 2018, 37% of workplaces were empty during any given workday, which was approximately

$150 billion in unused space. With hot desking, organizations can maximize their space usage and cut down on unused office costs, saving a large amount of money.

How can WorkInSync help you?

To successfully implement hot desking in your workplace will require a robust technology solution. Trying to manage hot desking manually can be overwhelming and time-consuming. With WorkInSync’s hot desking feature, employees can book their preferred desk on an easy-to-use mobile app. The app also comes loaded with features such as:

  • Real-time occupancy monitoring
  • Employees can also request necessary amenities to be set up at the desk they booked 
  • Track sanitization records for any particular desk 
  • And more.

You can opt for a demo to witness the full capacity of hot desking benefits by clicking this link: https://get.workinsync.co/desk-booking/.

Further Reading

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