DBS reinforces commitment to innovation and employee growth

Edwin Tong, Minister for Culture, Community and Youth and Second Minister for Law, sharing personal reflections on his career with Han Kwee Juan, DBS Singapore Country Head, in a fireside chat at DBS FutureForward Week 2024. (Credit: Ministry of Culture, Community and Youth)

DBS Bank recently wrapped up its annual FutureForward Week 2024, reinforcing its commitment to innovation and employee empowerment.

The week-long event, which began on 29 July 2024, featured opening remarks from Edwin Tong, Minister for Culture, Community and Youth and Second Minister for Law. Tong emphasised the importance of bridging divides in society, particularly in the workplace, and maintaining competitiveness amidst an ageing workforce. He stressed the need for organisations to remain vibrant and adaptive to the changing demographics.

During a fireside chat with DBS Singapore Country Head, Han Kwee Juan, Tong discussed how both organisations and individuals can contribute to fostering a deeper sense of belonging within the workplace and broader community. He highlighted the significance of loyalty in employee retention, noting that a culture of fulfillment and openness is key to sustaining loyalty. Tong also spoke about the potential for employees to explore new aspirations while staying with the same employer, emphasising that career growth and personal fulfillment can be achieved within the same organisation.

Throughout FutureForward Week, DBS showcased its unique employee value proposition (EVP). The bank’s approach to employee engagement is rooted in creating an environment that supports long-term career growth. The programmes outlined by the bank are designed to ensure employees “feel purposeful, invested in, cared for, connected and valued”.

This includes upskilling over 8,000 employees in future-ready skills, offering more than 10,000 courses, and facilitating internal mobility. DBS further revealed that in 2023, 30% of job openings at DBS were filled internally, highlighting its commitment to developing talent from within.

DBS has also cultivated a feedback culture, encouraging employees to engage in continuous growth through the “Anytime Feedback” system. This initiative not only promotes personal development but also fosters collaboration and innovation across the organisation.

Employee wellbeing is also a central focus for DBS, with the bank offering a comprehensive suite of benefits. These include banking privileges, share ownership, a flexible spending wallet, wellbeing programmes, and various leave options such as sabbatical leave and job sharing. Flexible work arrangements further support employees in managing their work-life balance.

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Additionally, DBS places an emphasis on building connections within the workplace, encouraging participation in social learning communities, interest groups, and leadership engagement sessions. Recognition programmes like “iTQ” (“I Thank You”) and “WeTQ” (“We Thank You”) celebrate employee achievements, further strengthening the sense of community within the bank.

The success of these initiatives is reflected in DBS’ employee engagement scores. In 2023, the bank’s Kincentric MyVoice employee engagement score reached a record 90%, outperforming the market benchmark for best employers, according to DBS. These efforts to create a supportive and dynamic work environment have also been recognised externally, with the bank securing the top spot on LinkedIn’s Top 15 Best Companies in Singapore for the second consecutive year.