Though the specter of Omicron looms large over Singapore, there are signs that the country's economy is recovering from the Covid-induced slump of 2020, and banks are adjusting their work arrangements for the post-Covid normal. 

While Safe Management Measures and Business Continuity Measures continue to be in place, banks in Singapore are gradually increasing onsite employees to adequately support the increased economic activities, representatives told finews.asia.

On 1 January, more employees are allowed to return to the workplace, with up to 50 percent of employees who are able to work from home can be at the workplace at any point in time. The Ministry of Manpower (MOM) also raised the capacity for Work-Related Events (WREs) to 1,000 participants, up from 50 previously. 

Gradual Approach

«We prioritise the health and safety of our employees, and we take a measured response, abiding by guidelines and regulations,» Francisco John Celio, head of group corporate security, OCBC Bank, told finews.asia.

UOB is maintaining measures the bank has in place, such as staggered start times, lunch breaks and end-of-day arrangements for colleagues working onsite. «We remain prudent in our approach to bringing more people back to the office. We are taking a gradual approach towards having 50 percent of our people who have been working from home returning to the office,» Dean Tong, head of group human resources, UOB, said. 

DBS is taking a similar approach «The health and safety of our employees remains paramount even as we look forward to welcoming more colleagues back in the new year. DBS’ work-in-office measures are in line with the government’s vaccination-differentiated safe management measures,» a spokesperson from the bank said.

Increased Flexibility

Last year, DBS introduced a permanent hybrid work model and a formal job sharing scheme to provide employees with more flexibility.

Citi said its staff have benefitted from aspects of working remotely. «As such we intend to create additional flexibility going forward even when it becomes safe for us to be together again,» Sarab Preet Singh, head of human resources for Singapore and ASEAN, told finews.asia.

OCBC said it has been preparing its workforce for hybrid work arrangement. «Flexible work arrangements which have been in place before the pandemic, such as working part-time, and starting/ending at an earlier/later time, will continue to be implemented,» OCBC’s Celio said. 

«While we see more people gradually return to the office, our end goal is a permanent hybrid work model that enables our people to work remotely up to two days a week, giving them greater flexibility in managing their work-life priorities and mental well-being,» UOB's Tong said.

Employee Wellness  

Banks are also paying more attention to their employees' mental wellness.

UOB has rolled out an employee wellness program that comprises various initiatives and resources necessary for them to stay connected and to manage their well-being holistically wherever they may be located, as well as a wellness benefits program that offers credits to offset expenses ranging from sports activities to psychiatric treatment.

DBS has also launched a number of initiatives to protect the mental health of its stafff under its «Together» employee movement to help its 12,000-strong workforce manage their physical, emotional and mental well-being. 

Only Vaccinated Welcome

Currently, government requirements mandate that from January 15, only workers who are fully vaccinated, certified to be medically ineligible, or have had recovered from COVID-19 within the past 180 days can return to the workplace.

MOM also said that employers should redeploy unvaccinated workers to jobs which can be done from home, with suitable remuneration, place them on no-pay leave, or terminate their employment as a «last resort.»

Open Borders

On Monday, Minister for Transport S. Iswaran said in Parliament that Singapore intends to continue gradually reopening its borders, and has plans to restore quarantine-free travel with more countries and regions, and it hopes to allow quarantine-free travel for all vaccinated travellers.

The city-state temporarily stopped new ticket sales for vaccinated travel lane (VTL) flights and buses from December 23 to January 20 amid Omicron concerns.