OCBC Bank management has realized that to beat the cut throat competition that is in business they have to differentiate themselves. The management also realized that apart from the cutting-edge technology human capital remains at the epicenter of the business transaction. They realized that a hundred percent of their client are human and that human interaction is key. To better their service delivery; therefore, they ought to develop their human capital. The companys training and development have invested heavily in developing and building the capabilities of their employees. The net effect of their action has resulted in the delivery of superior quality.
The banks proactive approach has created a win-win situation for both the management and the employees. The employees benefit regarding advancing their careers through various on the job training and also topping up their education. At the same time, the employer can align the staff learning objective to the business goals. The process helps the employees to advance their careers and the bank to become profitable.
The OCBC Bank training and development use career-best program to encourage their staff to take advantage of their career orientation. The program allows the employees to analyze their strength to determine their career orientation. The company also enables the employees to analyze how their talent can best fit the organization's needs. The company has created OCBC learning academy for learning and development. The company has dedicated whole floor space for the academy. The company has also tapped into learning technologies such as eLearning and virtual classrooms. The bank is also bridging geographical barriers through video conferencing.
The training and development of OCBC Bank is also closely related to the standard chartered bank training plan. Both corporations acknowledge the need to develop the potential of talented staff. The ability to identify the potential in staff and to tap their talent comes second to none. The two companies also value the advancement of their staff in the different fields that they have chosen.
There is a striking resemblance in the training and development of the two firms. Both have in-house training academies to tap and nature budding talent from within. The two companies also push for employees to align their talents with career orientation for business effectiveness. The two companies also enjoy good rating with Bloomberg and many different rating in business.
The training and development in OCBC Bank have been the primary contributing factor in the firm's success. The sole reason is that the model allows for swift career advancement of the employees. One example includes the process where management identifies high-potential talent and promote them from current roles to comfort zone. The promotion is not biased but, favors all levels and cadre in the organization.
The firm prevents employee complacency once they have reached a comfort zone through frequent rotation. The rotation helps with creativity in the firm through the short job rotation stint. The rotation usually involves the employees spending three to six months in other departments. The employees usually return to their original job station with not only new insight but also new business ideas. The creativity that results from the job rotation results in increased productivity and business success.
One such success story involves the story of employees who spent some time in the emerging business department. The staff came up with new business ideas which were pilot tested and resulted in five times growth in the company. The High potential employees are also accorded the chance to travel and explore new markets (Afiff & Anantadjaya, 2013). Through the close supervision of their senior staff in the foreign trips the employees potential soars by leaps and bound.
The OCBC training and development applies to all organizations with perhaps slight adjustment. The Model will work well and fit in business-oriented industries which deal with service delivery. Employees can learn how well to serve clients and advance their knowledge through benchmarking. It is well documented that insanity amounts to doing the same thing over and over again and expecting different results. The idea could easily be adopted by a different corporation (Agustini & Viverita, 2011). However, management might find it difficult to apply the system in the manufacturing business.
The difficulty of applying the system in a manufacturing business is that employees require specialized training. Employees trained in factory line production may become useless in other lines of business. The system may also not apply in the form of business where the chain of command needs to be followed to maintain law and order and also preserve ranks. The employees might just be limited to a certain kinds of training relevant to their position. In that kind of arrangement, some trade secrets are not meant to be discussed with the subordinate staff.
Afiff, S., & Anantadjaya, S. (2013). CSR & Performance: Any Evidence from London
LQ45. Review of Integrative Business & Economics Research, 14-15.
Agustini, M., & Viverita. (2011). Factors Influencing the Profitability of Listed B Commercial company. London Capital Market Review, Vol.IV, No.1, 38-39.
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