twimbit’s EX benchmarks for banks
Shinhan Financial Group – An Overview
About
| Headquarters | South Korea |
| CEO | Cho Yong-byoung |
| Number of Employees | 20, 000 |
| Revenue 2020 | USD 14.1 billion |
Vision
To become a No. 1 bank that creates a new future and is loved by all
Employee experience objectives
- Digital skill development
- Building employees through leaders
Drivers of culture
- Empathetic leadership
- Digital empowerment
Top EX initiatives
- Strengthening digital capabilities
Shinhan Financial Group defines an ideal digital talent as one that creates value through improvement and innovation in existing work. Therefore, the bank has incorporated various digital programs to create and nurture more ideal digital talents within the workforce.
These programmes include:
o SCOOL: An online digital training platform that enabled employees to continue their training despite COVID-19
o Digital Square: An offline training space where employees can use to elevate their digital skills
o Masters: Employees can study a Master’s course in digital financial engineering, in collaboration with Korea University
As a HR Specialist, you can:
Incorporate learning programs with the latest digital technologies such as Big Data, Blockchain and Cloud for employees
- Leadership development
Shinhan Financial Group takes the hiring and retention of talent very seriously. The bank has carried out multiple surveys and concludes that employees do not leave the company; they leave their managers.
Hence, it is crucial for the bank to train and ensure that the leaders are hiring and retaining the top talent. The bank designed a 5-module Leadership Development Program to equip all the managers with the necessary skills and knowledge for empathetic leadership.
On top of that, Shinhan Financial Group encourages horizontal communication between team members and their peers. This helps with collaboration and conflict resolution, as employees of the same positions can discuss the common issues they face. Horizontal communication promotes mutual and cross-functional understanding.
As a HR Specialist, you can:
Emphasise that empathetic leadership is the way forward, leaders need to be trained when it comes to talent retention
Other employee engagement initiatives
How you can match up to Shinhan Financial Group
- Digitally equip your employees to ensure that they are future-proof in today’s rapidly changing environment
- Build and develop leadership skills in your workforce to empower them when it comes to decision-making
To read the full report, click here