HSBC to cut bonuses for UK staff failing office attendance mandate

LONDON, UNITED KINGDOM — HSBC has warned its United Kingdom high street bank staff that annual bonuses may be cut if they do not meet new in-office attendance requirements. 

The policy, which affects around 23,000 employees in the bank’s retail and commercial banking divisions, mandates that staff spend at least 60% of their working time, or roughly three days a week, in the office or with clients.

A memo circulated this week stated that “consistently not meeting 60 per cent office attendance will be considered in an individual’s overall performance assessment, which could lead to variable pay being impacted.” 

From September, line managers will receive monthly attendance data to monitor compliance, with adherence forming a key part of annual performance reviews.

Industry-wide shift back to the office

Barclays recently increased its minimum office attendance to three days a week, while Lloyds Banking Group has linked senior executives’ bonuses to office presence. 

JPMorgan Chase has required some staff to return to the office full-time. In contrast, Citigroup remains one of the few large banks still allowing two days of remote work per week.

A mid-level HSBC manager in Canary Wharf commented, “We need to train junior staff. That’s tough to do on Teams. But it’s still a big shift, and people will feel it.” 

Another employee described the policy as “a subtle punishment wrapped in performance metrics.”

Hybrid work remains popular among UK workers

Despite the tightening policies, hybrid work remains common in the UK. According to the Office for National Statistics, 28% of working adults were in hybrid roles as of autumn 2024. 

For HSBC staff, the stakes are high. Variable pay can account for 10–40% of total income for many in the banking sector. The new policy stops short of mandating full-time office attendance but effectively ties financial incentives to physical presence.