DBS announces range of initiatives to embrace the future of work | Bahasa
The flexibility to work remotely for up to 40% of the working time
Accelerate the upskilling training for 7,200 employees
Scaling up deployment of data-driven Agile squads
These initiatives are a result of insights gathered from research, deep dive experiments and employee surveys conducted by a cross-functional regional Future of Work (FOW) Taskforce which the bank convened six months ago. They include:
- Hybrid work patterns
The FOW team found that four out of five DBS employees can work remotely productively. However, while they are still productive while working remotely, staying engaged and connected with colleagues was challenging. Based on this fact, bank will explore the implementation of hybrid work patterns as a combination of working in the office and working remotely. Employees will be given the flexibility to work remotely up to a maximum of 40% of their total working time.
- Flexible work arrangements
Based on Bank DBS Indonesia's experience in running operations through split teams during the pandemic in recent months, Bank DBS Indonesia is exploring the possibility of implementing more alternative work scheme arrangements that will be able to answer the challenges of various disruptions and changes caused by this pandemic condition.
- Work with agile through a squad structure
DBS will accelerate its transition to operating models characterised not by conventional functional departments but by small teams called squads. In the organization the squad will consist of various different functions and skills. This is done as DBS' effort to prioritize excellent service to customers and focus on the customer journey, to find new innovations in serving customers, and to provide added value that goes beyond the scope of ordinary banking. DBS will continue to expand squads that have been formed in several functions, especially in the field of technology to other parts on a larger scale.
- Equipping employees with skillsets of the future
Bank DBS Indonesia must continue to strive for upskill (capacity building) and reskill (training for new abilities) for each of its employees. This is done as the skills required in banking continue to develop, and new types of jobs emerge. Employees are expected to have a growth mindset so that they continue to develop and equip themselves to follow the disruption that occurs. Employees will undergo training in areas that are currently growing such as design thinking, data and analysis, artificial intelligence, machine learning, and agile principles. More than 7,200 employees in all office networks associated with DBS Bank will undergo this upskill and re-skill program.
- Re-designing work and collaboration spaces
Over 80% of employees across key markets indicated that they prefer to have more open collaboration spaces. Open workspaces help facilitate informal discussions and joint innovation, which are difficult to do remotely. Based on the experience in developing “JoySpaces”, or activity-based workspaces, since 2016, DBS will continue to redesign its workspaces to enable better collaboration and innovation between employees.
Piyush Gupta, DBS CEO, said, “As the way we live, bank and work continues to change dramatically, we must address the magnitude of the disruptions before us. We are prepared to radically transform the way we work by introducing a comprehensive range of measures which include implementing a permanent hybrid work model, flexible work arrangements and deploying more agile squads while creating workspaces that will help to supercharge ideation and collaboration. We will also accelerate our employee upskilling agenda at scale and ingrain the use of data-driven operating models across the bank. By implementing these measures, we believe that Team DBS will emerge as a confident future-ready workforce.”
DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named “World’s Best Bank” by Euromoney, “Global Bank of the Year” by The Banker and “Best Bank in the World” by Global Finance. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 12 consecutive years from 2009 to 2020.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SG50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all of our 29,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com.