The Standard Bank Group employs over 48 000 people (excluding Liberty). We strive to create a work environment in which our people feel deeply connected to our purpose, their colleagues and our clients; are empowered to, and recognised for, delivering against our strategic objectives and being client centric in everything that they do; make the most of every opportunity to embrace new ways of working and learning new skills to remain relevant and achieve their full potential; and are encouraged to speak up and feel heard.
Our recruitment, on-boarding and training processes are designed to entrench our values, ethics and conduct standards across the group.
We encourage continuous learning and development to ensure our people are equipped to meet the demands of a rapidly changing and increasingly digital world of work.
We invest in training and development at all levels, enabling us to build a strong succession pipeline of future leaders. We’re also investing in our people to help them become future-ready, developing their skills as the financial industry evolves.
Our online learning platform ensures the availability of innovative skills development tools and learning content to all our employees. In 2019 we piloted an innovative, cloud-based micro-learning platform which gives all employees access to the learning resources they require to improve their current skills and build future skills. Using behavioural and data science, this solution continuously analyses employees’ skill sets to personalise development pathways based on their unique skills, roles and learning goals. Our employees are also embracing opportunities to learn via our world-class digital libraries, which provide them with access to a large volume of training courses and learning videos.
Examples of skills development programmes in 2019
We encourage our employees to stay up to date with developments in their fields and to continuously develop their professional skills. Our employees can apply for bursaries to study further at recognised tertiary institutions. Tailored employee bursary schemes are implemented in specific countries of operation. Bursaries for under- and post-graduate studies were provided to 1 794 employees across the group in 2019.
We also offer learnerships for our employees, to enable them to keep their skills relevant and up to date. Focus areas include evolving regulatory environments; and areas such as data science, robotics, behavioural economics and cloud computing.
As an international group with an expansive footprint across Africa, we’re proud to have employees from over 50 different countries. We value multi-country experience and offer international training opportunities for our people. 120 employees participated in international assignments in 2019. The cross-cultural awareness that results from the programme facilitates our ability to conduct business across Africa. At the same time, international assignments support succession planning for key roles, with a strong focus on strengthening the diversity of our senior leadership teams across Standard Bank and building a diverse medium to long-term succession pipeline.
Standard Bank and ICBC established an employee exchange programme in 2016, which enables selected employees across Africa and China to spend time in headquarters of both our banks. Since inception, 43 assignees have participated in short and long-term assignments. Eight employees participated in 2019. The programme supports collaboration and relationship building between ICBC and Standard Bank, enabling the sharing of knowledge, cross-cultural exposure and the advancement of commercial and client objectives.
Employee retention and turnover
Overall turnover increased to 10.8%, from 8.3%, largely as a result of the retrenchments that took place as a result of branch closures in South Africa and reconfiguration in our information technology and shared services functions.
Voluntary employee turnover declined marginally year-on-year and our voluntary regrettable turnover remained stable at a low 2.3%. Our overall and voluntary turnover remain well below global financial industry benchmarks of 14.4% and 9.3% respectively (Source: Gartner CEB Global benchmarks: 2018).
|Voluntary turnover rate||SBG||%||4.8||4.9||5.5|
|Overall employee turnover1||SBG||%||10.8||8.3||8.8|
|Voluntary regrettable turnover2||SBG||%||2.3||2.3||2.3|
|Voluntary turnover at executive level||SBG||%||3.8||4.8||4.3|
|Voluntary turnover rates (African)||SBSA||%||4.6||5.0||5.5|
|Voluntary turnover rates (black females)||SBSA||%||3.9||4.3||4.5|
|Black female hires as a % of total hires||SBSA||%||3.8||4.8||4.3|
We strive to attract and retain talented individuals in the banking sector. Our graduate programme provides an entry point into the corporate world for university graduates, supporting skills development and on-the-job training, nurturing future skills within the group and building a diverse workforce to drive Africa’s growth. Participants are exposed to different departments and opportunities across the group and work closely with a variety of senior colleagues. 183 graduates joined the group this year on our various programmes, with a strong focus on data science and quantitative skills.
In 2019, we were awarded the SA Graduate Employers Association, Employer of Choice award in Commercial and Retail Banking for the ninth time in ten years.
To build a bridge for young people entering the world of work, address racial, gender and geographical challenges to educational advancement, and develop the kind of skills needed by Standard Bank, we introduced learnership programmes for unemployed young people in 2007. The programmes provide a crucial opportunity to gain work experience. For many participants it’s their first job.
Our ‘perform to grow’ philosophy is founded on the principle that more regular and constructive performance coaching conversations help drive personal improvement, growth and business contribution.
Our approach to performance management includes:
The group runs an annual ‘Are You a Fan’ survey. 74% of employees participated in 2019, up from 62% in 2018. The employee net promoter score (eNPS) was +181, which compares favourably with benchmark data, but is down from +23 in 2018. We consider this to be a good result in the context of the restructuring activities that took place in our largest geography, South Africa.
An area highlighted for improvement is ensuring opportunities to grow and advance careers, where 70% of employees responded positively.