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This mindset, the UOB Way, is what guides the Bank's people programmes, policies, and initiatives, Sasiwimol Arayawattanapong, Head of Human Resources, United Overseas Bank (Thailand), tells us.
As the world has rapidly changed, United Overseas Bank (Thailand) understands that continuously listening to its employees is the key to build an impressive employee experience.
Putting this mindset into action, it analysed employee survey results, went through each employee opinion and made sense with the workforce market trends in order to identify the right solutions/actions.
Driven by its three EVP pillars of 'Trust', 'Growth', and 'Care', the team won several awards at the Employee Experience Awards 2024 Thailand, including:
- Gold - Best Rewards and Recognition Programme
- Silver - Best Succession Planning Strategy
- Bronze - Best In-House Recruitment Team
- Bronze - Best Hybrid Work Model
- Bronze - Best Skilling Strategy
Sasiwimol Arayawattanapong, Head of Human Resources of United Overseas Bank (Thailand), talks about the winning 'UOB Way' that led to these achievements.
Q How would you describe the pillars of your employee experience strategy, and what are the principles you have taken into account to develop this?
UOB Thailand expanded our business with the acquisition of Citi Bank-Retail Business in 2022. We fully integrated the operating processes and systems in April 2024. A critical part of the transition plan has been making employees and customers feel that we are One UOB; sharing the same purpose, values and goals and always putting customers first.
Since 2022, we have continued to emphasise One UOB through the UOB Way; inspired by the same purpose (Building the future of ASEAN), practising similar core values ('Honourable', 'Enterprising', 'United', and 'Committed'), and promising to treat each other well according to our people philosophy (Trust, Growth, Care).
The UOB Way is a long-term mindset to strike the right balance between work and personal life, which guides the people programmes, policies, and initiatives we create, such as learning & development, career planning and progression, engagement and culture, flexible work arrangements, wellbeing, compensation, and rewards.
Q In a world propelled by rapid change, what measures do you have in place to maintain a people-centric, human approach to your EX as it evolves?
One of the most effective indicators that reflects our people satisfaction and passion is our employee engagement survey results. Our employee engagement scores have continuously increased, from 53% in 2017 to 88% in 2023.
As the world has rapidly changed, continuously listening to our employees is the key to build an impressive employee experience. Moreover, understanding the changes of the workforce in the market is also critical. We seriously analysed our employee survey results, went through each employee opinion and made sense with the workforce market trends in order to identify the right solutions/actions.
Our senior management led the improvement actions by themselves to ensure effective execution and impact.
Q What initiatives do you undertake such that the delivery of employee experience is a collective responsibility of all stakeholders in the organisation?
Last year, we simplified and aligned our initiatives under the two umbrellas of work process & technology improvement and work/life harmony. These two topics are critical factors in engaging employees and garnering their feedback.
1. Work process & technology improvement: Previously, we started with small groups of six teams working on improving core bank processes. Last year, we expanded the practices to function level processes. The prior working teams acted as trainers to share their knowledge and experience to others.
We also created companywide recognition awards known as the UOB Pinnacle Awards. These awards focus on recognising winning teams who effectively improve cross-functional work processes.
2. Work/life harmony: Our strategy last year emphasised ‘Wellness’ in a more personalised way that allowed employees to fulfil their individual purpose and work-life management.
We have improved employee benefits concerning DEI and encouraged employees to fully utilise their flexibility programmes provided by the Bank.
Q Do you have words of wisdom to share with others in the industry on the best ways to keep your employee experience consistent and beautiful?
All HR policies and actions are based on the three EVP pillars; ‘Trust', 'Growth', and 'Care’. We are aware that in order to build sustainable engagement and impressive employee experience, it is important to not focus on the score itself, but create actions based on employee feedback that would create a better working experience. Therefore, the areas of improvement for any given year should be based on current employee feedback from the annual employee survey.
Q Finally, what is the positive impact of employee experience that you’ve seen on the business as well as the workforce?
Despite the uncertain global growth outlook, our overall Group net profit in 2023 grew 26% to a new high of S$6.1bn, and the net interest income grew strongly by 16% to S$9.7bn.
Our retention rate was better than market averages. In 2023, our retention rate showed 1% improve whereas the market average reviewed around 4% lower comparing to 2022. Moreover, our scores on the engagement outcomes “Say, Stay, Strive,” were in the top quartile, increasing to more than 80% for all three behaviours.
Read more interviews on why organisations have won trophies for their HR practices - head over to our Winning Secrets' section!
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