twimbit’s EX benchmarks for banks

Maybank – An Overview

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Employee experience objectives

• Good work-life balance
• Building employees through leaders

Drivers of culture

• Flexible approach to working and employee management
• Management led communication

Top EX initiatives

• “What works for you” approach to work
  

The COVID-19 virus rewrote the rules of working in one swift swipe. As a result of its effects, Maybank facilitated the transition of 82% of its workers to a work-from-home (WFH) setting within days. However, as days progressed, the bank began recognising the diversity of its people in the workforce when it came to their work setting. The bank then outlined a broad hybrid approach for its workforce.

Maybank has 3 approaches to work:
I. Work From Home – WFH
The bank allows employees to work from home for the long term, focusing on virtual interactions and engagements.

II. Flexible Working Arrangement – FWA
o An existing policy that aims to support staff through the different stages of their lives and careers. The flexible practices available are meant to foster a safe working environment while keeping the employees engaged
o These practices include flexible hours, “phasing in and out”, various leave types and employees support schemes

III. Mobile Work Arrangements – MWA
o A future-forward and tracked arrangement where all employees are “mobile” to discuss and agree on a management model that works for them. Through this model, work is not about when and where, but focused on the outcome
o A designated CX manager is partnered with them to ensure that their productivity levels are maintained

Regardless of the choice that their employee makes, Maybank believes the hybrid approach to work is here to stay.

As a HR Specialist, you can:
o Understand and identify the right approach to work for employees in the organisation
o Curate a working plan that suits an employee’s lifestyle and career aspirations to ensure they continue to remain engaged and productive

• Executive Committee-Led Culture Reinforcing Initiatives
  

At Maybank, the leaders understand the impact and difference they can bring simply by spending time with their employees. In order to keep and upbeat working environment, it is crucial that the leaders enable, engage and energise teams.

The leaders at Maybank have different ways of communicating with their employees to keep them informed. Some of these platforms include:
o Leaders Teaching Leaders (LTL): Virtual sessions for the Group EXCO to continue engaging with employees to elevate well-being and morale
o Maybank Group Townhalls: Detailed insight sessions for employees regarding the bank’s performance, plans and strategy
o Conversations with C-Suite (CWC): Impactful and transparent dialogue sessions with Group EXCO

As a HR Specialist, you can:
Allow for leaders to partake in L&D activities that involve the workforce, employees are more likely to follow when their leaders set the example

Other employee engagement initiatives

How you can match up to Maybank

• Recognise what work arrangement is best for your employees and allow for flexibility
• Engagement with leaders allow your employees to feel reassured and inspired, in other words – leadership by example

To read the full report, click here