Maybank

Group Human Capital

Maybank’s Group Human Capital (GHC) methodologies and practices are in line with the world’s best. They are designed to meet the people needs of our business, achieve our vision and exceed our corporate objectives.

“The initiatives we have implemented in our transformation programmes including our people policies thus far have gained traction and acknowledgement- evident by another year of financial growth performance- increased productivity, greater employee engagement and recognition as the No 1 preferred Employer of the Year for the second consecutive year as well as being externally evaluated as having four out of six aspects of a Leadership Development Audit as Best Practice and the remaining two as Good Practice. Our staff productivity performance ratio is moving in the desired direction as we optimise our workforce by increasing the value of jobs and effectively equipping our staff with the right capabilities and competencies. The implementation of the online integrated Talent Management (TM) suite accelerated our regionalisation initiative to align our human capital management and development across the Maybank Group to achieve our vision.”

Nora Abd Manaf
Head, Group Human Capital

Highlights

• Net income per employee rose to RM351,512 in 2012 from RM325,111 the year before, while Profit Before Tax (PBT) per employee jumped from RM150,511 to RM167,142 last year.
• We achieved better visibility of our internal talents to meet business and expansion needs. Our successor pool comprises 68% high potentials and a succession realisation rate of 40%. Our successor pool continues to grow and 70% of vacancies were successfully filled from internal.
• In building regional capabilities, we deployed 54 talents, 20 of whom high potentials, on short and long term international assignments. We also successfully launched and attracted over 1,000 top University talents from 6 Asian countries who competed in our inaugural International Business Case Competition. The top 30 finalists selected from country-level rounds participated in the Finals here in Kuala Lumpur, and were selected into our Maybank Global Apprentice Programme.
• Total Rewards Policy strengthened by the formalisation and execution of the GO Ahead Employee Value Proposition reinforces Maybank as a great workplace and a Bank for talents. In 2011, Maybankers rated a 100% improvement from 20% in 2008 to 40% (excluding BII) on the Bank’s pay-for-performance practice which is 5% ahead of the Towers Watson Global Financial Services Companies Norm. Further in 2012, Maybankers rated an improvement of 5% compared to the 2011 Annual Employee Engagement Survey in the area of recognition by supervisor for a job well done and the score is at par with the Towers Watson Global Financial Services Companies Norm.

Overview

Maybank’s Group Human Capital (GHC) methodologies and practices are in line with the world’s best. They are designed to meet the people needs of our business, achieve our vision and exceed our corporate objectives.

Our infrastructure is built on a strong and integrated foundation comprising the right principles, people policies and products that drive the right behaviours to create a high performance culture based on our corporate values. Respect and dignity were the underlying principles upon which the foundation was strengthened in 2009, and these principles remain within our mission of humanising today.

We embrace diversity and encourage inclusiveness, creating a workplace that offers more than just a career. We nurture our people to fulfil their potential and achieve both personal and corporate goals.

Our HR programmes strengthen our workplace climate and enable us to attract and retain talents.

Improving Productivity And Engagement

We continue to chalk up improvements in our productivity as we increase the output from the higher value jobs created, utilise our resources effectively, create differentiated service and product offerings, provide better work tools, and embed a cost saving mindset. Our disciplined approach to raising staff productivity has paid off. Net income per employee rose to RM351,512 in 2012 from RM325,111 the year before, while PBT per employee jumped from RM150,511 to RM167,142 last year.

Year-on-year, employee engagement remains high. Our 2012 Employee Engagement Survey recorded an employee engagement level of 85%, up from 83% (with BII included) in 2011 and at par with the Towers Watson Global High Performance Companies Norm. It recorded high employee participation with 82% of the 29,234 Maybank Group staff surveyed including staff of Maybank Kim Eng, BII, BII Finance & WOM Finance.

Our key retention rate has also improved – from 52% in 2010, to 80% in 2011, to 82% in 2012. The employment offer acceptance rate stands at above 92%.These improving scores are testimony that our staff support the people transformation process and demonstrate the effectiveness of our focused employee development strategies.

Building A Common Culture

Our mission to humanise financial services across Asia drives the way we deliver our services, creates an environment where staff can excel, and reinforces our TIGER values: Teamwork, Integrity, Growth, Excellence & Efficiency, and Relationship-building. These values synchronise our operations, service levels, and leadership and are internalised across the Group as part of the Business As Usual initiative.

Our Core Values Index increased from 75% in 2011 to 79% in 2012 (The Towers Watson Global Financial Services Norm is 72%). This demonstrates the degree to which staff embrace our core values.

Sustained campaigns to drive the internalisation of the core values continued with BII aggressively implementing its cultural transformation in line with its IMPACT (Implementation through Acceleration and Teamwork) programme launched in July as well as the integration programme in Maybank Kim Eng.

A Brand Advocacy Initiative was rolled out providing clarity of the Maybank brand beyond visual identity while guiding staff on how to further translate our humanising mission as a driver and filter in everything we do. The Service Quality’s e-555 programme was kicked off last year as a vehicle for Maybankers to recognise each others’ deeds and contributions. With more than 6,000 participating, the programme incorporates the values of recognition and nurtures the culture of excellence.

Enhancing Our Employer Value Proposition

To complement the launch of our refreshed corporate brand in 2010, Maybank created an Employer Value Proposition (EVP) in 2012 that supports our humanising mission and creates a differentiated employer brand to attract and retain talent. Our GO Ahead EVP is both a mantra and statement of intent: Maybank goes beyond keeping promises to exceed expectations. Its four dynamic propositions, GO Ahead Create, GO Ahead Grow, GO Ahead Lead and GO Ahead Fly, inspire staff to seize opportunities.

Our efforts to build a work environment where our people can thrive and find meaning have been widely recognised. We retained our leadership position as the nation’s No.1 preferred employer in Graduan Aspire - as voted by students and graduates - for two years straight. Similarly, we were recognised as the winner in the Banking and Financial Services category in Malaysia’s 100 Leading Graduate Employers consecutively in 2011 and 2012. Our overall ranking across all categories has improved, moving to third in 2012 from fifth in 2011 and 17th in 2010. Our regional offices are also showcasing Maybank as the employer of choice. Maybank Singapore received the Employer Award of the Year - Gold Award and the Excellence Award in the Work-life Excellence Awards.

Malaysia’s 100 Leading Graduate Employers Overall Rank: 2010-2012

Improving Eficiency, Functions And Tools

We continue to expand our HR functions regionally, enhancing our reporting, policy-making, processes and systems. We aligned HR functions in all our principal overseas markets, thus standardising best practices across the Group.

During the year, GHC reviewed structures, jobs and processes to support business strategies and expansion plans. The sectors involved were Global Banking, International Operations, the new Asset Management Group and a new subsidiary, Maybank Shared Services. The reorganisation will create better focus, accountability and efficiency in pursuing the Group’s vision.

We continued to leverage on IT solutions work tools to standardise human capital management and development practices. We implemented our integrated TM suite, rolling out online Performance Management and TM modules for Malaysia and Singapore. This system provides a single source for real-time staff information and offers a broad range of functional and decision-making capabilities, freeing staff to focus on quality of planning rather than administrative process. The IT module also increases visibility and transparency, allowing staff to better align their own goals with those of their supervisor, team, and Maybank as a whole. For other overseas units online implementation will be launched in 2013.

Boosting Performance Management

In 2012, we endeavoured to further strengthen our Performance Management System based on staff feedback. We enhanced our Performance Management System and Balanced Scorecard (BSC) empowering our staff to take more ownership of their deliverables and greater line of sight of their contributions to the Group while maintaining alignment with the Group’s Key Performance Indicators (KPIs).

Rewarding Achievement

Our compensation structure gives us a competitive edge in the market. It incorporates both fixed and variable elements, as well as short and long term components namely basic salary, benefits, short-term variable bonuses/incentives and a longterm Employee Share Scheme. The package also includes non-financial elements such as development opportunities. To inculcate a pay-for-performance culture, high performance is duly rewarded.

Each year, we confer awards on our high achievers, best managers, executives, non-executives, core values champions, top corporate and social responsibility volunteers, and others. We celebrate such achievements at the Sectors’ engagement dinners, programme events, and annual sports carnivals, all leading up to the annual Maybank Group Awards Night.

In 2012, we made a second Employee Share Scheme offer based on individual performance, and disbursed special ex-gratia payments of RM1,000 to eligible Maybankers in Malaysia in addition to their contractual bonus. We also recognised 2,029 staff members in the 10, 20, 30 and 40 Years Long Service Awards categories.

We aligned the various country-specific Maybank Kim Eng incentive plans into a regional plan. This will ensure competitiveness among Maybank Kim Eng peers and put us on par with global investment banking standards.

We continued to provide financial assistance to eligible staff with children attending school or college. Under our Back to School programmes, over RM470,000 was disbursed to over 1,100 eligible Maybankers with school-going children including those entering boarding school and institutions of higher education. Under the Maybank Group Staff’s Children Academic Excellence Award, we presented RM257,900 to 518 staff children who achieved academic excellence in public examinations.

When engaging in collective bargaining, the Bank and the Union reach a mutually beneficial middle ground. In 2012, three collective agreements were concluded with three unions: the Association of Maybank Class One Officers, the Association of Maybank Executives in Malaysia, and the Maybank Philippines Inc. Employees Union.

Acelerating Development

Our development programmes equip staff with the knowledge, confidence, and skills to excel. We strongly encourage staff to learn new skills for both professional and personal growth. Maybank invests considerable resources in strengthening staff competencies in areas that support the Group’s development plans.

In 2012, the Group invested RM100.0 million in learning and development programmes, well above the statutory requirements. In Malaysia, 82.4% of the workforce participated in face-to-face learning, and 92.4% took online courses. Staff training expenditure for the Bank against total gross salary for 2012 was 3.17%. This exceeds Bank Negara Malaysia’s minimum standard of 2.5% and is also above the American Society of Training and Development global benchmark of 2.65%. In 2012, 280 e-learning courses with 15 new syllabuses were offered with 108,558 enrollments.

Group Organisational Learning (GOL) follows the 70:20:10 philosophy (70% experiential, 20% relationship-based, and 10% formal learning). Experiential learning involves projects, assignments, and international exposure. Relationship-based tools include mentoring, buddy programmes, brown bags, town halls and conversations with leaders. For formal learning, our platforms include e-learning via MyCampus (our online learning portal), the newly renovated Maybank Academy, and external programmes. More and more staff enjoy e-learning as it allows them to follow courses at their own pace.

GOL collaborates with sectors to facilitate accelerated learning and develop specific competencies. To build capacity in the sales and credit forces, in 2012, 5,584 employees attended customised training programmes. GOL and Group Credit & Risk Management joined forces to launch two Groupwide e-learning programmes as part of the ongoing effort to institutionalise Operational Risk Management (ORM). Over 25,000 staff completed the first level ORM e-learning modules. The more advanced ORM module was developed specifically for operational risk personnel, and about 1,000 completed this module.

GOL continues to have close collaboration with sectors to enhance service excellence and promote innovation amongst staff. In 2012, GOL partnered with Service Quality to implement Project ST*R, a service competency based learning intervention that standardises the Bank’s service training programmes. GOL’s collaboration with Group Strategy and Transformation brought staff from Malaysia, Singapore, Indonesia and the Philippines together under Project Trailblazer, a programme to promote innovation that generated game changing ideas for implementation.

Under our Staff Education Assistance Scheme which covers staff from the clerical category upwards, a total of RM479,187 was granted in 2012 to staff who are working towards Bachelor or Master degrees, ACCA, CIMA or other professional certifications on a part-time basis.

Conversation breakfast session with the Chairman.

Conversation breakfast session with the PCEO.

Developing Leadership

Our leaders continue to play a key role in driving transformation. In both formal and informal sessions, they communicate the Group’s direction and set the right organisational climate and culture. Our Chairman and EXCO lead conversation series sessions, town hall engagements, and an Adopt-a-Region Programme. They also conduct the ‘Leaders Teaching Leaders’ programme, in which each EXCO member shares his/her leadership insights, twice each a month, at our Maybank Great Leaders (MGL), High Impact Leadership (HIL) and Performance-Driven Leadership (PDL) programmes. During the year, our Chairman and EXCO engaged over 600 people in the conversation series sessions alone.

Our flagship leadership programmes are as follows:

Nurturing Talent

Our new integrated Talent Management (TM) framework launched in 2009 has become a discipline and is delivering results. It provides a consolidated view of staff skills, achievements and career aspirations, enabling more meaningful performance and career reviews. This helps us to quickly identify the best qualified individuals for the required position.

The TM module which was rolled out regionally in 2011 reviews talents based not only on their assessments but also on their readiness for growth. We create different forums to review our talents via the multi-level talent review platforms, namely the Sector Talent Review, Country Talent Review and Group Talent Review as well as to discover talents across the Group and to ensure that we are better in identifying the right staff for the right roles or job fit. In 2012, inter-sectoral transfers increased from 9% to 16%. We encourage staff to be geographically mobile, and we saw 54 international assignees moving from their home bases, with another 16 in the pipeline for cross-border assignments.

Our philosophy of growing internal talent means that we aim to fill most vacancies with existing staff. All vacancies are first announced internally. In 2012, 70% of senior management and 71% of executive openings were filled by internal applicants.

We cherish our position as the employer of choice for young job-seekers. To attract Generation Y, we stress our commitment to develop young talents, to give them control of their careers, and to provide competitive rewards. We recruit close to 3,000 graduates yearly.

We meet young talents face-to-face at international and domestic career fairs and road shows, enabling us to recruit the brightest minds in the region. In 2012, our recruitment efforts spanned Malaysia, Singapore, Indonesia, the Philippines, Cambodia and Hong Kong via the Maybank GO Ahead Challenge. The challenge attracted over 1,000 applicants, and 30 finalists competed for prizes totalling USD45,000. This unique challenge was developed in-house by existing Global Maybank Apprentices for future GMAPs (Global Maybank Apprentice Programme).

We have also enhanced our scholarship programme to provide full sponsorship of relevant foundation studies at top local and overseas universities. Currently, we have 30 scholars studying at local institutions and 42 at overseas universities.

Encouraging Employe Volunterism

Maybankers continue to demonstrate a sense of pride and reinforce our humanising mission in communities we serve by implementing sustainable Corporate Responsibility (CR) initiatives.

Maybankers have stated that they value being part of an organisation that emphasises CR. They enthusiastically engage in volunteerism under the Cahaya Kasih (CK) banner. This global initiative fosters long-term projects via the CK Challenge, sponsored by the Maybank Foundation. Employees submitted proposals for tangible and sustainable initiatives to help children, the elderly, the disabled and the environment.

Maybank’s third annual Global CR Day on 22 September 2012, saw over 21,000 Maybankers coming together worldwide to undertake over 100 public service projects in 15 countries.

Scores of Maybankers also volunteer their time as our brand ambassadors at special events like Malaysia’s Merdeka (Independence) celebrations, Labour Day, Maulidur Rasul, Maal Hijrah and others.

Fostering Well-Being

Our Occupational Safety and Health teams conduct periodic audits, ensuring that health and safety measures are in place to safeguard our staff’s health and well-being.

We organise activities that promote physical and emotional well-being and healthy lifestyles. In 2012, employees attended Safe Riding and Defensive Driving Programmes, Disaster Simulation Exercises, Blood Donation Drives, First Aid Training, Ergonomics Assessments, Positive Parenting Workshops, Fitness and Weight Loss Programmes, Healthy Lifestyle Carnivals, and regular monthly health talks.

Maybank also encourages employees to participate in sports such as the Inter-Bank competitions - outdoor and indoor games, KL Soccer League and the Malaysian Hockey League. Over 300 runners represented Maybank Group at the 2012 BII-Maybank marathon and at the KL Rat Race.

Our own annual sports activities, namely the Maybank Sports Carnival and Indoor Games, foster unity across the Group. The Maybank Sports Carnival involves over 2,000 Maybankers and 18 teams from Malaysia, Singapore, Thailand, Indonesia and the Philippines, all competing in 14 outdoor games.

Promoting Equal Opportunities

Maybank provides equal employment opportunities, whether for recruitment, promotion, transfer or development, with merit and fairness as the underlying principles. Maybank's workforce (excluding Maybank Kim Eng and BII Finance) spans the ages of 18-62. The average age group is 30-35. Our male to female ratio is nearly equal, with women accounting for 54% of the total as at December 2012.

Maybank Sports Carnival.

Over 21,000 Maybankers participated in the Global CR day.