Article: How is DBS Bank providing its employees with a start-up environment

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How is DBS Bank providing its employees with a start-up environment

The core of DBSs people strategy is to challenge employees to create solutions, help them innovate, and provide them with a start-up environment that enables self-learning
How is DBS Bank providing its employees with a start-up environment

Facts box: 

Company Name: DBS Bank India  
Established: 1994
Total number of employees: 1,850 people in India 
HQ: Mumbai, Maharashtra 

Experimentation, entrepreneurship, and innovation are the three pillars that DBS bank stands on when it comes to workforce engagement and transformation.  With a focus on creating a workplace where employees can be the best, be the change, and be the difference, the bank’s priority is to cultivate a digital mindset in its employees by empowering its employees with the avant-garde skills and tools to stay ahead of the curve, and create a differentiated experience for its customers. 

DBS is one of the first banks to adopt human-centered, design-thinking to understand customer and employee journeys

At DBS, employees are expected to reflect PRIDE in their work and also live these values — Purpose-driven (Create impact beyond banking), Relationship-led (Collaborate to win for DBS), Innovative (Embrace change), Decisive (Think. Act. Own.), and E! (Everything fun!) The bank has made conscious efforts to rally ahead of other banking institutions, wherein it aims to build a digitally savvy workforce via development opportunities for employees. DBS Asia Hub 2 (DAH2), which was set up in 2016, is enabling the bank to drive innovation, further technological capabilities across the region and support its digital banking strategy in key markets. 

DBS challenges employees to create solutions, helps them innovate, and provides them with a start-up environment that enables self-learning. DBS is one of the first banks to adopt human-centered design-thinking to understand customer and employee journeys. A key initiative that the bank has introduced, is the incorporation of hackathons to drive their staff's talent development programs where the bank exposes its employees to agile methodologies and other digital concepts to get practical insights and create innovative solutions. DBS has built a culture for employees to embrace innovation and it reflects in the way the employees’ think and work. For example, its Mumbai office with its open, collaborative workspaces in the agile setup is designed to facilitate greater interaction and ideation among employees, so that they can reimagine the customer journey and enable customers to enjoy a whole new way of banking.

DBS also provides its employees a holistic benefits program, DBS Cares, which include, in addition to the regular benefits, a host of market-leading ones like iFlex Points, 24-hour safety app, creche, Doctor-on Call, flexibility through multiple options of staggered, part-time work, long leave etc. The bank has also launched an exclusive HR app for employees, “DBS Power Up’, as one-stop-shop providing simplicity and ease of operation.

DBS’ efforts on fostering a culture that is truly digital and customer-centric, is already showing results – whether it was the launch of India’s first mobile-only or the first-of-its-kind connected banking platform for SMEs or becoming the first bank in India to offer paperless on-boarding for mutual funds.  

With people at the center of its digital transformation, DBS is well on its way to reimagine banking so that customers Live More and Bank Less. 

Topics: Best Practices, HR Industry, AON Best Employer, Employer Branding

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