Talent Attraction and Development
Commitment
To build a future-ready workforce by equipping employees with future skills to accelerate the Bank’s digitalization efforts and supporting employees to develop a future-proof career along with retaining talent.
Materiality
Economic and social transformation, technological advancement, as well as changing customer needs, present opportunities and challenges for the Bank's business operations. Consequently, the Bank must adapt itself by developing better quality products and services, adjusting its business model in response to the current economic and social circumstances and customer preferences. However, this would not be possible in the absence of competent and talented personnel in sufficient quantity, particularly personnel with digital literacy as well as knowledge of modern work processes. The Bank therefore gives importance to developing employees' skills and capabilities as well as attracting and retaining talented employees through organizing training, implementing effective talent management, setting a career path, providing equal and fair opportunities for skill development, and determining appropriate remuneration that matches employees’ skills, abilities and performance. This is to ensure that employees can thrive and enhance their career progression steadily while developing and nurturing talents that the Bank needs to increase competitiveness and drive future growth.
Management Approach
Capability Development for Employees
The Bank provides employees at all levels with the opportunity to acquire the skills they need now and in the future, while also fostering their leadership skills, and preparing them to handle challenges and uncertainties in the business world. In 2023, the Bank concentrated on two areas of skills development: Business as Usual (BAU) skills, and Lifelong Learning skills that are necessary for future work, as per the following details:
Moreover, the Bank has collaborated with internal and external experts to develop curricula as well as guidelines for developing learning process and logical thinking skills required by the Bank’s business. These new approaches have been adopted in some projects related to the training and development of the Bank’s employees.
In 2023, the Bank focused on promoting equality in the workplace. In supporting female executives in their career progression, the Bank encourages female executives to constantly receive training to develop and enhance their skills in various necessary areas, with the belief that women's ideas and perspectives support diversity and creativity, and help the company grow in new directions.
Recruiting Strategies to Attract Employees
To respond to the needs of the new generation and attract younger talent to work with the Bank, we have taken the following actions:
- Improved the recruitment and selection process to make it faster and more convenient, e.g. enabling job applicants to take tests online.
- Modernized the Bank's image, as well as using social media to communicate the Bank’s working environment and organizational culture.
- Collaborated with partners to organize Career Explorer/Career Roadshow activities for target groups of students studying in Thailand or abroad to attract them to work in the banking and financial sector.
- Organized a Referral Program for employees to recommend their friends or acquaintances to join the Bank, especially for those critical positions that are in high demand in the market.
- Provided internships for students who are studying domestically and abroad under the Bangkok Bank Student Internship Program which emphasizes participation and interaction in the form of active learning and project-based learning.
- Provided master's degree scholarships for talented employees and talented outsiders to pursue study in domestic and foreign educational institutions.
Talent Management
The Bank attaches great importance to talent management, beginning with the process of selecting, developing and retaining talented employees at all levels, from new recruits to management level. This aims to prepare employees for supervisory roles and to enable succession planning for important positions. High-potential employees with appropriate
qualifications are selected by considering performance, potential and characteristics consistent with the Bank’s core values and without gender discrimination. The Bank draws roadmaps for skill development and career paths to develop appropriate skills for each group of talented employees. Talented employees are prepared to become future executives who can cope well with various changes. The Bank also provides opportunities for talented employees to exhibit their potential capability and attitude. Furthermore, the Bank provides attractive remuneration to employees compared with the industry. The Bank is committed to retaining and continuously developing talent.
Performance Evaluation
The Bank has established systematic and standardized guidelines and criteria for evaluating performance. Objectives and annual work targets are set at both the individual level via Management by Objectives and the team level via Team-based Performance Appraisal. The evaluation results are not only used to consider remuneration, but also to monitor employees’ ongoing performance and set their continuous development plan, whether working within a team, across teams or across departments. The Bank arranges performance evaluations twice a year for employees and once a year for management. The Bank periodically updates employee performance evaluations. Recently, new forms of evaluation have been introduced for some departments, such as 360-degree feedback and coaching, which present opportunities to constructively discuss work issues as well as to provide employee development guidelines and support.
Key Activities
Major Training Activities
In 2023, the Bank organized training programs and activities for employees so that they could learn and develop the skills needed for work as follows:
Sustainability
The Bank adheres to conducting business in accordance with the principles of Sustainable Banking and Responsible Lending. Therefore, it is important to create awareness and understanding among employees by aiming for them to be able to apply various kinds of knowledge to their actual work. Knowledge provided is divided into two categories as follows:
- Bank-wide Training The Bank organized ESG Forums throughout the year to present new perspectives and provide knowledge focusing on the environmental dimension to executives, employees, business partners and Bank customers. The topics were as follows: 1. “Energy transition and business survival in an era of global chaos”, 2. “Reduce business costs with clean energy - Solar Rooftop”, 3. “Carbon credit and renewable energy trading market - Opportunities for business in the era of global chaos”, 4. “Carbon Footprint, Carbon Credit and Carbon Credit Market and the current and future role of credit work”, 5. “Climate risks, carbon reduction and business opportunities”, 6. “Pathway to Net Zero Building”, 7. “Inside Thailand’s Taxonomy: Journey to Sustainability”, and 8. “Bualuang joins forces with partners, driving business with clean energy".
- BU Champion Training The Bank has organized training on Sustainable Finance for 46 selected credit-related officers (BU Champions) with the aim of creating experts in the field who can provide advice to their colleagues. Participants have been trained and provided with relevant knowledge by attending a sustainability finance training course organized by ASFI Academy, and visiting a lithium-ion battery factory to gain deeper understanding about how to support the transition to a low-carbon society. They also participated in a sharing session to listen to information and exchange views with the Bank's sustainability experts on sustainability-focused financial products and the Bank of Thailand's policy guidelines on operating a financial institution to address environmental issues and climate change.
Knowledge Day 2023
The Bank organizes the Knowledge Day annually. This aims to provide knowledge and enhance essential skills for working in current times, while also supporting employees to self-develop and adapt to changes in the digital age so that they are able to help create new business opportunities for the Bank. In 2023, we focused on creating changes that lead to desired and sustainable outcomes under the concept “Be the Change: Starting with You” in alignment with the Bank’s strategy. The related training curricula are as follows:
Tech Adoption Challenge Season 3
In 2023, the Bank organized the Tech Adoption Challenge project for the third consecutive year as a Project-Based Learning platform under the concept of “Be the Change: Starting with You”. The project aims to promote and stimulate employees to learn new skills in digital technology as well as to take initiatives to solve problems, increase work efficiency and respond to customer needs. The project aims to create customer-centric change leaders and seeks to transform the Bank into an intelligent organization. In 2023, a total of 176 employees divided into 43 teams participated in the project. Initiatives from all 43 teams helped the Bank lower the expense of hiring vendors by Baht 14 million per year, reduce working hours from over 53,000 hours per year to 20,606 hours per year, eliminate 1.45 million sheets of paper per year (equivalent to Baht 650,000 per year), and eliminate the need to cut down 123,061 trees, while reducing greenhouse gas emissions by 15,991 tons of CO2e.
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