In a groundbreaking move aimed at fostering employee well-being and development, United Overseas Bank (UOB) has unveiled a multifaceted Human Resources strategy designed to support its workforce throughout their careers. Announced at the annual employee festival, Better U today, the initiative garnered the attention of Singapore's Minister for Education, Mr. Chan Chun Sing. UOB's comprehensive programs encompass all stages of an employee's journey, from their first day to retirement.
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One-year work program for students
One standout feature of UOB's strategy is its commitment to nurturing talent right from the start. The bank has initiated an industry-first one-year work program, partnering with Singapore's five polytechnics and three Institute of Technical Education (ITE) colleges. This program aims to provide students with valuable insights into the banking industry, offering internships across various business units and disciplines. It seeks to reach 500 students over the next three years, ultimately offering high-performing participants a full-time position with UOB or sponsorships for further education.
UOB Better U Campus for upskilling
Reskilling and upskilling remain critical concerns for workers in Singapore, a sentiment echoed across all age groups and genders. Recognizing this need, UOB has partnered with the Singapore Institute of Management (SIM) to establish the UOB Better U Campus. This dedicated physical venue, spanning 10,500 square feet, will consolidate all of UOB's training and development programs under one roof. It comprises six training rooms and one system training space, designed to cater to the specific needs of the bank. The UOB Better U Campus is set to host its first training session in the first quarter of the next year, signaling a commitment to lifelong learning.
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Preparing for retirement with SURF
UOB has a history of pioneering inclusive hiring with its Gig+U retiree employment program. Now, they are taking it a step further with the launch of SURF (Supporting Ur Retirement and Future). This program is designed to adequately prepare employees for retirement or re-employment with the bank. Workshops offered through SURF span two and a half days and cover mental, physical, and financial preparedness for retirement. Notably, UOB will extend medical insurance coverage to eligible retiring staff for six months after their retirement date. Retired employees will also continue to enjoy various staff privileges.
Commitment to employee success
In the words of Mr. Dean Tong, Head of Group Human Resources at UOB, "Our employees' success is our success." UOB's HR strategy reaffirms its dedication to employee welfare and development at every career stage. With innovative programs targeting students, mid-career professionals, and retirees, UOB is setting a new industry benchmark in employee training and welfare, ensuring that their workforce remains supported and enabled in an ever-evolving environment.
This holistic approach to employee development and well-being underscores UOB's commitment to its employees as an integral part of the UOB family, setting a new standard for the industry.
