Analysis of Oversea-Chinese Banking Corporation (OCBC) Operational and Functional Tactics

Analysis of Oversea-Chinese Banking Corporation (OCBC) Operational and Functional Tactics
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Analysis of Oversea-Chinese Banking Corporation (OCBC) Operational and Functional Tactics
Introduction
OCBC Bank is one of Singapore's largest and oldest banks and was established in 1932. Over the years, OCBC Bank has become a prime financial institution, providing different banking and financial offers to individuals, businesses, and corporations across Asia. The bank has over 30,000 employees across 18 countries. It has emerged as a successful financial institution backed by solid management and commitments to strategic human resource management (SHRM) practices (Mulyadi & Virgana, 2020). OCBC Bank's management team is committed to continuous improvement and development, prioritising their employees' growth and development (Kong, 2017). The bank's HR practices are designed to attract, retain, and develop top talent, and they strongly emphasise personalised HR practices that cater to their employees' individual needs and preferences.
Discussion and Analysis
Talent Management and Development Approaches of OCBC
OCBC Bank is one of the largest banks in Singapore, with a workforce of over 30,000 employees across 18 countries. The bank has been recognised for its strong HR practices and has won several awards for its employee engagement initiatives. OCBC Bank has implemented several personalised HR practices. OCBC Bank strongly emphasises regular communication and feedback between managers and employees. The bank also encourages employees to provide feedback on their managers through a 360-degree feedback system, allowing continuous improvement and development. The financial institution offers a range of flexible work arrangements, including telecommuting, flexible work hours, and job sharing (Morgan, M., & Stark, 2020Ch 1). This enables the employees to balance their work and personal responsibilities and can help to increase engagement and retention. The bank offers employees various training and development opportunities, including customised programs that align with individual career goals and interests.
Comparison of OCBC Approaches with other Organizations
DNB companies incorporate a group of companies that facilitate different financial areas like sales and procurement. Like OCBC Bank, this organisation emphasises personalised development plans and employee career growth opportunities (Kong, 2017). The company provides various training and development programs, such as leadership development, technical training, and mentoring, tailored to the employee's career goals and interests (Morgan, M., & Stark, 2020Ch 2). However, the company's approach to succession planning is not as robust as OCBC Bank's. The company has a succession planning process, but it is not as comprehensive or integrated with its talent development programs and performance management system.
Another similar example can be extracted through a small family-owned business, i-e. Indofood Agri Resources. The company belongs to the agriculture sector. Compared to OCBC Bank, this organisation's talent management and development a...