How Cathay United Bank elevates employee wellbeing

Prioritising employee wellbeing is essential in today’s fast-paced work environment, as it can lead to increased productivity and reduced turnover. At Cathay United Bank in Singapore, this commitment is exemplified by a comprehensive approach focusing on the physical, social, family, and community aspects of wellbeing.

Under the leadership of Quek Li Ling, Head, Human Resources, General Affairs and Marketing Communications, the bank has implemented various strategies to enhance employee engagement, promote mental health, and create a more balanced, supportive workplace culture.

A holistic approach to wellbeing

Cathay United Bank defines employees through four key pillars: physical, social, family, and community. Quek noted that these pillars guide the bank’s efforts to create targeted initiatives and benefits, ensuring that all aspects of employees’ lives are considered. Over the past two years, the bank has introduced a variety of programmes that align with these pillars, aiming to improve the overall wellbeing of its workforce.

She told HRM Asia, “Our strategy includes an enhanced flexible benefits scheme, which provides employees with a wider variety of claim options. Additionally, we recognise the contributions of our long-serving employees by offering increased leave starting from three years of service, promoting work-life balance and job satisfaction.”

The bank also places a strong emphasis on fostering social connections within the workplace. Events like Family Day, International Women’s Day celebrations, and festive gatherings like the Mid-Autumn Festival mooncake party create opportunities for employees to bond outside the typical work environment. These activities help employees feel more connected, strengthening collaboration across teams.

“By encouraging employees to connect in a relaxed environment, we strengthen relationships and enhance collaboration across teams, contributing to a more cohesive workplace community,” Quek added.

“By encouraging employees to connect in a relaxed environment, we strengthen relationships and enhance collaboration across teams, contributing to a more cohesive workplace community,” – Quek Li Ling, Head, Human Resources, General Affairs and Marketing Communications, Cathay United Bank

To promote physical wellness, the bank has rejuvenated its Sports and Recreation Club, establishing a dedicated working committee to organise a pipeline of activities encouraging employees to stay active. This initiative reflects the bank’s holistic approach to wellness, which extends beyond the workplace and into employees’ personal development and social lives.

Mental health is another critical aspect of employee wellbeing, and Cathay United Bank has taken significant steps to support its employees in this area. “Mental health has become a critical issue in the workplace, and at Cathay United Bank, we are committed to supporting our employees through various initiatives,” Quek shared.

These initiatives include wellness workshops and informal “brown bag” sessions that equip employees with coping strategies for workplace challenges. Additionally, managers receive formal training to support their teams’ mental health better. Quek noted that the bank has cultivated a culture where employees are encouraged to respect each other’s after-hours time, promoting a healthier work-life balance. Flexible start hours and work-from-home policies further emphasise the bank’s commitment to employees’ mental wellbeing.

“The Covid-19 period was a tough time for many of our employees, having been isolated for a long time,” she recalled. “Understanding the isolation many felt while working from home, we distributed care packs to everyone’s homes to remind them that they are valued and will be supported, despite working remotely.”

The bank’s participation in Eat with Your Family Day in Singapore, which allows employees to leave at 5pm on the last Friday before school holidays, is another example of how the organisation fosters a healthy balance between work and personal life.

Tailoring strategies for the local workforce

Although Cathay United Bank is rooted in Taiwanese heritage, its Singapore branch has adapted its engagement and retention strategies to meet the needs of the local workforce. While many organisations in Taiwan have reverted to a five-day work-from-office policy post-pandemic, Cathay United Bank in Singapore has embraced flexible working hours and policies that cater to employees in Singapore, particularly parents and caregivers.

“Our annual leave entitlements reflect our commitment to employee wellbeing, with a starting leave entitlement of 21 days, which is notably more competitive,” Quek said. In addition, the bank offers birthday leave and a family care leave policy, ensuring that employees’ personal lives are respected and valued.

Quek further emphasised the importance of showing empathy towards employees’ needs outside of work and elaborated, “We are thoughtful about how work commitments may disrupt employees’ lives outside of work hours, and we compensate them with time off.”

During the pandemic, the bank demonstrated its commitment to employee care by allowing expecting mothers to work from home to avoid unnecessary exposure. The bank recently supported an employee with a debilitating infection by enabling them to work remotely during recovery.

READ MORE: Trauma-informed organisations: A new paradigm for mental health

As the bank continues to grow—having increased its headcount by 40% in just two years—Cathay United Bank remains dedicated to enhancing its workplace wellness programmes. “We firmly believe that the little things often make a significant impact. Our initiatives often take a customised approach and are tailored to reflect the specific needs and preferences of our employees, fostering a more engaged and satisfied workforce,” she said.

One of the critical lessons that Cathay United Bank shares with other organisations is the importance of staying attuned to employee feedback. “Through branch-wide feedback sessions and actively listening to what employees say, we can better understand their needs and preferences, leading to more effective wellness strategies. This commitment to open communication enhances employee satisfaction and strengthens the overall workplace culture,” she concluded.