In banking, the competition for manpower and the skill sets required have changed along with the digital transformation in the financial services sector, Dean Tong, managing director and head of group HR at UOB Singapore, says in an interview.
From mostly administrative tasks like running payroll, the HR function today is linked to the company’s strategic agenda. «People strategy includes planning the company’s structure, recruiting, onboarding, performance, management and engagement. You have to look at it from a holistic perspective,» Dean Tong told «The Business Times» (behind paywall) in an interview.
In banking, the competition for manpower and the skill sets required have changed along with the digital transformation in the financial services sector. Meanwhile, financials and losing jobs are among the key concerns that overshadow the employment environment today.
Make People Stay
Since joining UOB in 2018, Tong implements the group strategy, the requirements for success, and how the people strategy can enable success that includes building the capabilities and having the right organizational structure. «To build a sustainable workforce, also means you cannot squeeze people dry in a short period of time. Instead, you try to make people stay and build a long-term career,» he said.
