OCBC Bank to provide S$500 top-up to 800 employees' SkillsFuture Credit
Singapore, 28 March 2016 – OCBC Bank will give each of its permanent non-executive employee a S$500 cash top-up to be used for SkillsFuture Credit eligible courses. This will be credited to their bank accounts together with the April 2016 salary.
Named OCBC FutureReady Credit, the S$500 top-up is one of three components of the OCBC FutureReady Programme that is launched today. Costing close to S$500,000, the OCBC FutureReady Programme is yet another strategic talent development initiative by OCBC Bank to empower its employees in their learning and development journey so they can develop their full potential. The programme addresses three main areas where employees want more support regarding the SkillsFuture Credit: More funding to defray the high cost of some training courses, flexibility to attend courses conducted during office hours on weekdays, as well as guidance in selecting suitable courses (there are over 10,000 courses eligible for SkillsFuture Credit).
Beyond the S$500 top-up for each non-executive employee, about 5,000 employees of OCBC Bank and its subsidiaries – OCBC Securities Pte Ltd, OCBC Investment Research and OCBC Property Services Pte Ltd – can take time off to attend selected courses during office hours. To help employees navigate the thousands of courses available in the SkillsFuture Credit course directory, a specially curated course catalogue shortlisting 120 courses has also been prepared.
Said OCBC Bank’s Head of Group Human Resources, Jason Ho: "As an organisation, we must be forward-thinking and progressive so we can lead the charge in today’s rapidly evolving world. We are cognisant of the fact that, for employees, technological advancements, digital innovations, changing consumer behaviour and the increasing number of regulations make it ever more challenging for them to stay current and employable. That is why we have always believed in empowering our employees – our colleagues – with skills for both their personal as well as professional development. We take a long-term view to promoting people development and are committed to helping every colleague increase their employability while inspiring their personal growth.
"As Singapore is one of the top financial hubs in the region, it is crucial for the workforce in the financial sector to remain relevant, resilient and adaptable in order to stay ahead. We owe it to our colleagues to make them future-ready in the banking industry and the world at large."
The other two components of the OCBC FutureReady Programme are:
1) OCBC FutureReady Catalogue
A customised catalogue for employees, the OCBC FutureReady Catalogue (OCBC Catalogue) has 120 courses shortlisted from the thousands available in the SkillsFuture Credit course directory. These 120 courses range from programmes to enhance functional skills such as accounting, banking and finance, to personal development courses such as workplace challenge management and design. More courses will be added to the OCBC Catalogue over time. The OCBC Catalogue is a resource available to employees, on top of the over 900 OCBC courses and programmes already available.
Employees will be given time off from work if they attend courses from the OCBC Catalogue that are conducted during working hours. They will be awarded training hours as well.
2) OCBC FutureReady Premiere
To help employees familiarise themselves with SkillsFuture Credit and the OCBC Catalogue, a three-day roadshow will be held in May at the OCBC Campus, a wholly-owned learning and development hub in the central business district.
Employees can attend bite-sized sessions of up to 12 different programmes found in the OCBC Catalogue that will give them a sense of what the course entails. Employees can sign up for these courses or other SkillsFuture approved courses not listed in the OCBC Catalogue at the roadshow. They can also learn how to search and apply for courses in the SkillsFuture Credit course directory and use their SkillsFuture Credit.
Under the government’s SkillsFuture Credit initiative, all Singaporeans aged 25 and above received an initial credit of S$500 to be used for courses listed in the SkillsFuture Credit course directory.
Similarly, the OCBC FutureReady Programme is targeted at employees of OCBC Bank and its subsidiaries who are Singapore citizens aged 25 and above.
Quotes from employees
Said Hussain Bin Yunos, Clerk, OCBC Bank: "The S$500 top-up is definitely useful because it allows us to choose from a wider range of courses without having to worry about forking out money ourselves. We get to decide how, when and what we want to learn, our way."
Sim Cheng Huat, Bank Officer, OCBC Bank, said: "The OCBC Catalogue really helps me to narrow down the relevant SkillsFuture courses that are of interest to me, especially for my professional development. More importantly, I can attend these courses that are conducted during working hours without having to take leave."