EDUCATION EMPLOYEE ENGAGEMENT
Singapore - OCBC Bank is willing to pay for its employees' continuing education in the banking industry with no employment bond attached to the financial sponsorship.
Speaking on the bank's Continuing Education Scheme (CES) which was introduced in 1999, its head of learning and development Cassandra Cheng says, "There is no employment bond attached to this scheme." The bank's main objective since the scheme's introduction is encouraging employees to continue upgrading their knowledge skill sets, she adds, as "we strongly believe in helping talented individuals pursue their ambitions". This further education would help them "stay relevant to the bank and the job market through certificate, diploma, degree or masters programmes".
The only condition sponsored employees have to abide by is ensuring they meet a minimum attendance rate in class, explains Cheng. "In the event the sponsored employee is not able to complete or pass the course of study, he or she may be liable to refund the fees that have been paid by the bank."
So far, Cheng says employees are reaping the rewards in their career progression after participating in the CES. Around 42% of employees were promoted after they completed their further education. It helps that managers are supportive as well, says Cheng. They would provide flexible work arrangements so these employees would be able to achieve optimal performance for their work and studies.
In any case, Cheng isn't unduly concerned about any sponsored employees' ability to juggle both work commitments and the part-time studies. "In fact, our employees who take on such part-time studies show even more motivation in putting their best at work and managing their time better so as to balance their work and studies."
While some companies are afraid that employees would leave after investing in their training and development, Cheng isn't too worried about her employees doing the same after they completed their study courses. She says building a committed workforce requires employees to first be motivated and satisfied in their careers. Hence, OCBC would constantly invest in various training and career planning programmes to help employees see a fulfilling career with the bank. Cheng says as many as 80% of staff stayed on even after completing their further education via the CES sponsored by the bank.
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