From internships for ITE students to refining roles for retirees: How bank maximises potential of employees of all ages
Published on
24 May 2024
Published by
The Straits Times
Big believers of helping staff upskill and upgrade, UOB creates opportunities for its people to realise their full potential and develop careers
As Singapore prepares for a shrinking workforce, local bank UOB is looking to maximise the potential hidden in our youth and seniors.
The bank’s U Unleash Programme (UUP), launched in October 2023 for polytechnic and Institute of Technical Education (ITE) students, will soon welcome its first cohort, giving the new interns a leg-up through hands-on experience in various banking functions that can help fast-track their careers.
Says Mr Dean Tong, head of Group Human Resources: “We’ve noticed that with training, many polytechnic and ITE graduates have the potential to grow their careers in the banking sector. It’s unfortunate that they’ve not been given as many opportunities as their peers from universities.”
“By giving them a fair chance, we would not only provide these talents a head-start in their careers, but also help fill our manpower gap. It’s a win-win situation,” he says.
The UUP, which collaborates with Singapore’s five polytechnics and three ITE colleges, is the first partnership of this scale locally. Under this programme, over 60 final-year students from the hospitality, business and information technology schools are expected to be recruited across 2024 and 2025, and deployed across business units within the bank.
The one-year internship will see the first cohort graduate in 2025 or 2026, with top-performing candidates to be offered jobs within UOB or opportunities to further their studies with sponsorships from the bank. More vacancies are expected to open up in subsequent years, with the bank targeting to recruit at least 300 UUP interns in the first three years.
Uplifting a greying talent
While helping to harness the potential of students, UOB has also been expanding its talent pool by redesigning job scopes for retirees and those nearing retirement.
Through its Gig+U programme introduced in 2021, the bank has managed to capture retirees’ untapped talent by allowing those with time on their hands to take on short-term gig work across the bank’s front, mid and back offices, depending on their work experience. Upon joining Gig+U, participants are notified whenever assignments become available.
“We will invest in and support workers regardless of age, as we believe that these seniors still have much to offer,” says Mr Tong.
With years of experience and deep working knowledge of the bank, Gig+U participants help to ensure that UOB has a ready pool of reliable and seasoned workers who can supplement, and even inspire UOB’s workforce. This has proven beneficial for both bank and retirees, especially during the busier periods like Lunar New Year. Over 80 retirees are currently enrolled in Gig+U.
Helping retirees find a work-life balance they enjoy is one thing. Preparing those nearing retirement age to prepare for what is to come in the next phase of their life is another.
Recognising the importance of a thoughtful transition into retirement, the bank launched its Supporting Ur Retirement and Future (SURF) programme last year. Aimed at preparing employees for retirement or re-employment with the bank, the programme is conducted through two-and-a-half-day workshops where staff learn about financial planning and maintaining mental and physical health post-retirement.
The inaugural SURF workshop saw the participation of 25 employees, mainly in their late 50s. Of the 25, 16 remain employed with UOB; five chose to be rehired by the bank when they reached the retirement age of 63 years; while four have retired.
“People attach so much of their identity to their work and title that once they stop working, they feel lost. We want to help our employees look forward to something they retire into, not spend too much time thinking about what they are retiring from,” explains Mr Tong.
Future proofing the workforce
Meanwhile, to help existing staff reskill and upskill in an evolving financial landscape, UOB has been conducting training sessions through its Better U programme.
Mr Tong explains the bank’s approach to helping workers adapt and stay relevant, “Better U was started in 2019 to train our colleagues in soft skills, such as a growth mindset, problem-solving and digital awareness. This helps them gain technical skills easily when they transition into new roles.”
Given the bank’s focus on equipping workers, he is encouraged by the SkillsFuture Level Up Programme and ITE Progression Award announced in Budget 2024 in February.
The former provides additional financial support under the government’s SkillsFuture scheme to help mid-career Singaporeans pursue courses to refresh their skills in a changing economy, while the latter encourages ITE students to upskill earlier in their careers for better job prospects down the road.
“We’ve always been big believers of helping our colleagues upskill and upgrade, and have many programmes to support this. The government incentives scale this beyond the banking industry, which is a move in the right direction,” says Mr Tong.
UOB has also brought Better U a step further. Last year, it partnered the Singapore Institute of Management (SIM) to introduce the UOB Better U Campus, a 10,500-sq ft premise at the SIM Management House that hosts all the bank’s training needs, including functional, bank-wide and leadership training.
The campus provides an immersive space that removes the distraction of work, underlining the importance UOB attaches to enriching the learning experience, and feedback has been encouraging.
Shares Ms Priscilla Preethi Sudarsan, sales governance manager, UOB Cards and Payment Products: “The UOB Better U Campus creates an environment that has allowed me to enjoy different learning styles, such as learning through interactive tools that may not be available in the office. Being able to attend training outside of an office setting also helped me to better focus on the training content.”
Through Better U and its other programmes, UOB’s staff-centric culture is evident. Mr Tong sums up: “We take pride in being there for our employees from the beginning of their careers to beyond their retirement.”
Learn more about how you can be a part of UOB’s team.
Source: The Straits Times © SPH Media Limited. Reproduced with permission.
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