Our focus last year was on humanising the management and development of our people to ensure that the Group’s transformation will be sustainable, and to create a high performance culture driven by our corporate values.
“Our initiatives hinge on our signature integrated talent management platform that serves as the pulse of the organisation and drives, motivates and enables our people to make a difference. Our future focus will be to ensure consistent quality of implementation and regionalisation of this platform to position our talents to serve the different communities across all the markets where we are present.”
Nora Abd. Manaf
With the Group stepping up the regionalisation of its business strategy, Group Human Capital initiatives continued to focus on building capacity and confidence to keep up the momentum and employees’ resilience in pursuit of the transformation agenda. The shared philosophy of these initiatives is to unite all Maybankers behind our common mission of humanising financial services across Asia. Finding the right employees, developing them, rewarding them and retaining them are some of our highest priorities. Our talent management strategy is a multi-pronged one that includes a compelling employee value proposition with a competitive reward package.
Our aim is to build a workforce that is globally adaptable, as well as geographically and culturally diverse. The focus continues to be on building capability from a core banking perspective as well as a talent management and leadership perspective. We will continue to implement and execute our strategy to build a regional talent pool that will be at the forefront of our regional expansion.
The culture we are building is driven by our TIGER values of Teamwork, Integrity, Growth, Excellence & Efficiency and Relationship Building. By living and breathing these values, we put customer service at the heart of our operations. Appropriately, our customer service commitment is encapsulated in our mantra, Serve From Your HEART (Humility, Efficiency, Appreciation, Respect, Trust).
Meritocracy is applied to all performance management and talent management processes in sustaining a high performance culture. Our Cultural Transformation Plan (CTP) incorporates our corporate values and call to serve with a HEART. These initiatives are well accepted as the DNA of our culture that tightly synchronizes and aligns Maybank’s strategy, marketing, operations and leadership across the regions.
Alignment begins with leadership. Our leaders are charged with evolving the Group’s strategy and ensuring clarity throughout the organisation. It is they who set the right direction and establish the right climate to inculcate shared beliefs, values and ways of working.
To support Group transformation, during the year, our Executive Committee (EXCO) initiated two-way communication about our vision, mission, values, strategies and expectations. We encouraged honest, open and trusting (HOT) conversations and dialogue to explore ideas, share feedback, clarify perceptions and resolve doubts. In carrying out this exercise, many different channels were employed including print, electronic and, most importantly, face to face.
* Employee Engagement levels remain high when compared to the Towers Watson Global High Performance Companies Norm. 92% of Maybank Group employees participated, while for BII, 95% responded to the survey.
Maybank, THE employer for people to achieve their aspirations
– Base Pay correction & Significant Variable Bonus
Begin to Realize the Potential
Productivity and Performance Improvement
– including Long Term Incentive Plan
Recognition as Leading Regional Employer
Our five-year people plan is aligned to our corporate strategy to maximise shareholder value.
Following the launch of House of Maybank, EXCO visited all branches, service centres, regional offices and departments in a nationwide ‘Igniting the TIGER Spirit’ roadshow. The roadshow focused on elaborating the operations and synergy of the new House of Maybank reorganisation, reviewing Maybank’s progress and strategic direction, and obtaining feedback.
The Chairman of the Board and EXCO held various sessions to highlight opportunities for improvement and to foster upward communication, with issues that surfaced being addressed immediately.
All these forums acted as role models for leadership behaviour, and helped eliminate barriers to promote open communication and dialogue between senior management and employees.
Meanwhile, the President’s Innovative Ideas Award (PIIA) scheme was revamped to inculcate a culture of innovation and lateral thinking. As a result of the revamp, the number of ideas jumped 169% from the previous year.
A ‘One Sector, One Innovation, One Month’ campaign was introduced in February 2011 offering a monthly reward to winners from each sector. A quarterly game show was also held to showcase the best ideas. The game show incorporated elements of fun, creativity and teamwork with audience participation which accounted for 20% of the judging scores.
In FY2011, leadership teams Groupwide continued to benefit from programmes to ensure convergence and energise the teams to perform at peak levels. These programmes included best in class leadership development, team and individual coaching sessions, and Maybank Great Manager (MGM) & Maybank Great Leaders (MGL) modules.
During FY2011, all identified managers completed the MGM programmes that was designed to hone leadership skills against Maybank Group leadership competencies SEARCH (Strategic Visioning, Engaging & Developing Leaders, Spirit of Achievement, Cultivating Relationship, Customer Centricity and Innovation & cHange).
We have also implemented a culture of coaching and have dedicated coaches to support, guide and help our employees navigate through the transformation journey. The dedicated coaches have conducted 306 coaching sessions and 23 team engagements to date. Mentors have also been assigned to the various talents across the organisation and act as sounding boards for their mentees to help them acclimatise to the changes in the organisation and deliver on expectations.
Throughout the year, 82% of mission critical position (MCP) successors (as against 65% in FY2010) took part in experiential development activities such as executive coaching, special projects, job enlargements, and international assignments.
We also achieved increasing success in retaining key employees, with the rate of regrettable losses improving from 48% in FY2010 to 23% in FY2011.
We continue to aggressively deploy the multi-level talent review platform to identify highly talented employees who are ready for accelerated development. We have also regionalised our talent platforms to promote cross-sector and cross-border mobility. With the development of a talent pool with more transferable skills, in FY2011, inter-sectoral employee transfers increased to 7.4% from 4.6% the year before. Cross-border moves have also increased by 24% year-on-year.
For leadership development acceleration, an in-house programme, Transitioning Leaders to CEOs (TLC) was introduced to create a pool of talents capable of assuming CEO or CEO-like positions. The programme includes best-in-class learning modules, top team engagement, international exposure, experiential development and opportunities to network with business leaders in development programmes overseas. So far, 58 talents have completed year one of the three year programme, achieving an overall 60% improvement in their team engagement levels.
We constantly up-skill our people to enable a culture that thrives on innovation, high customer engagement and fast problem resolution. Training and development opportunities cater to the diverse needs and aspirations of employees; and detailed personal development plans (PDP) form a key element of performance management.
Our total learning budget for FY2011 was RM84.94 million. Our learning facilities include the Maybank Academy, our flagship learning centre, and are supported by MyCampus, our 24/7 online e-learning tool. The curriculum includes technical and functional skills, managerial and leadership development, and experiential development.
These facilities are complemented by management luncheons, townhalls, leader-led sessions and coaching as well as our quarterly ‘guru series,’ which offers insights into global best practice.
Our total rewards strategy has evolved with our business transformation. Basic pay is benchmarked against the market to ensure competitiveness, and the 2010 variable bonus demonstrated our pay-for-performance approach. In June 2011, we launched an employee share scheme (ESS) based on a portfolio approach that combines an employee share option scheme (ESOS) with a performance-based restricted share unit (RSU) scheme. This ESS gives employees at all levels the chance to benefit from the growth in value of Maybank shares and to participate in the Group’s success. The ESS completes and complements the total compensation component of our rewards strategy which comprises base pay, fixed and variable cash and the long term incentive plan.
On top of this, we have platforms which provide recognition for exemplary performance, we offer career development opportunities, and we are dedicated to our employees’ well-being. To boost motivation, we also recognise and reward top performers, long service employees, best managers, executives and non-executives, core values champions, and top corporate social responsibility volunteers. Every year, we celebrate their achievements at the Maybank Group Awards Night, the annual sports carnival and other events.
Our policy is to provide equal employment opportunities – whether for recruitment, promotion, transfer or development – with meritocracy and fairness as the underlying principles. In FY2011, female to male ratios in senior management positions increased to 27.36%, while the percentage of female representation in middle management increased to 39.82%.
Health and safety measures are in place to ensure that our people have an optimum work environment. During the year, we ran a variety of safety and wellness activities such as safe riding and driving training, Parenting@work workshops, Total wellness and heath promotion programmes, trim and fit programmes, blood donation drives, regular health talks, and healthy lifestyle carnivals, as well as regular OSH awareness programmes and audits at the regions and branches. The Bank also extended the maternity leave from 60 days to 90 days for its employees in Malaysia.
The OSH regional secretaries meet centrally twice a year to report progress of OSH implementations at the respective regions.
We also recognise children of employees who excel in their examinations, and we provide financial assistance for employees in lower income brackets whose children are entering schools and universities. In December 2010, as a caring employer, we donated over RM350,000 in back-to-school financial assistance to 1,799 eligible employees.
Meanwhile, the Maybank Scholarship Awards offer scholarships to outstanding achievers and the opportunity for employment with the Group after graduation. For the first time, the Awards sponsored candidates pursuing studies in private institutions of higher learning in Malaysia apart from local universities. In 2011, a total of RM1 million of scholarship awards was disbursed to sponsor 125 Maybank scholars, of whom 27 were new scholars.
Our Cahaya Kasih programmes enables Maybankers throughout Malaysia to contribute their time and talents to create a positive impact on the various Corporate Responsibility (CR) initiatives organised by the Group. In 2011, the total number of hours volunteered was approximately 1,497.5.
During the year, two key campaigns were organised. In October 2010, Maybank launched a milestone Global CSR Day where the Bank was the first local financial institution to undertake a simultaneous one day Global CSR programme involving more than 10,000 Maybankers across the Group’s global network. In March 2011, Maybank was also the first Malaysian financial institution to hold a joint International Women’s Day Celebration with the Ministry of Women, Family and Community Development.
Details of our employee volunteerism initiatives can be found in Corporate Responsibility section in this