UOB reinvesting govt money into its employee’s education and health
(15 April 2015 – Singapore) United Overseas Bank (UOB) announced on 8 April it will reinvest the S$3.8 million (A$3.67 million) it receives from the Singapore Government’s Wage Credit Scheme (WCS) into a career development and wellness programme for its 3600 junior executives and unionised employees.
UOB is the first bank to use its WCS grant for training, development and health benefits.
UOB’s Wage Credit Employee Development Initiative (WCEDI) aims to enhance the overall productivity and well-being of the Bank’s employees.
Those who qualify for the initiative will be given training credits which they can use for professional and personal development courses specially designed for UOB by the NTUC LearningHub.
Jenny Wong, head of Group Human Resources, UOB said that the Bank prepares its people to meet the fast-changing needs of customers through continuous training and development opportunities.
“As banking is a people’s business, UOB takes a long-term approach to nurturing our employees.
“It is this philosophy that has guided the many industry leading programmes that we provide across all levels of the bank.
“The WCEDI adds to the continuous training and development opportunities already in place.
“It also gives our people even greater flexibility to choose the courses that will help them to remain relevant in their fields of expertise,” Wong said.
Employees can choose from a diverse range of training programmes ranging from productivity and innovation to service excellence, to IT skills and personal grooming courses.
As training becomes more self-directed, the Bank has also developed the industry’s first customised mobile application for employees to manage their own learning journey.
This allows employees to take greater ownership of their own learning and development.
Employees can register for training and development courses on-the-go and attend additional virtual tutorials to reinforce what they have learnt after attending their courses.
As a leading total learning solutions provider, NTUC LearningHub encourages organisations to utilise the WCS to conduct training as a way to invest in their employees in the long term.
To help encourage employees to lead a healthier lifestyle, the Bank has also used part of its WCS grant to top-up the healthcare and wellness options offered to employees, such as employees can use the funds to pay for gym memberships, traditional Chinese medical treatments, dental and optical expenses.
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