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Tuesday, 19 April 2016 15:24

Why Maybank's net income per employee grew, despite the global crisis Featured

Written by Frank Mercado
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Maybank Achieves its 2015 Transformation Goals and the Secret is the 3S in its People Program 

When you look at Maybank’s 2015 Annual Report front page, it’s very telling that something amazing is happening within that resonates with what’s reflected externally, i.e., sound focus, solid teamwork and utmost sense of purpose in the workplace.

 

 

On its annual reports, you will always see what’s important to the organization, what they have achieve and what they aspire to do moving forward. Only in 2010 did Maybank set out its goal to become a regional financial leader by 2015 and in 2015, they have achieved the goal!

 

2010 - Initiated our vision to become a regional financial services leader

2011 - Acquisition of Kim Eng Holdings Ltd

2012 - Expansion in China with the set-up of Beijing branch and local incorporation of Maybank Cambodia

2013-2014 - Network expansion in Indonesia and the Philippines

2015 - Set-up of Kunming branch in China and the launch of Myanmar operations

2015 - Maybank is the Top 5 Bank in ASEAN with presence in 10 ASEAN countries

 

1. Sound focus: Putting heroes on the front page to humanize its values

I am proud to have played a significant role in Maybank’s transformation journey that began in 2009, especially in being able to lead successful projects which have been adopted regionally. As I believe that our people are our strongest asset, I have a personal mission to develop the next generation of Maybankers across the region. - Dato’ Mohd Hanif bin Suadi, Head, Community Distribution Community Financial Services Malaysia 40-year Long Service Award Recipient

Dato’ Mohd Hanif bin Suadi is one of the heroes highlighted in the 2015 Annual Report. Every Maybanker—a nickname they call a Maybank employee—is guided by the T.I.G.E.R values of Teamwork, Integrity, Growth, Excellence & Efficiency and Relationship Building and adhere to a strict Code of Ethics, promoted and supported at all levels in the organization. 

Other heroes who are also promoted are Lidiya Natalia, Executive of the Year 2014, Shaikh Munir Ahmad, Manager of the Year 2014 and Jeremy Lim Wei Wen, Young Maybanker of the Year 2014. These heroes embody the values that Maybank stands for providing every Maybanker a clear person to aspire to.

 

2. Solid teamwork: Promoting agility, diversity and inclusion that enhance innovation

“As an organization, we believe that agility, diversity and inclusion create an environment that enhances creative thinking, innovation and productivity.” - Tan Sri Dato’ Megat Baharuddin Megat Mohd Nor, Chairman, Maybank

Maybank faced 2015 with a lot of challenges on many fronts. China experienced slower GDP growth while the Eurozone was beset with low single-digit economic growth, as their leaders grappled with restructuring needs. Also, the readjustment required in many economies due to low oil and commodity prices has yet to be played out. For Malaysia, several factors including these and the expectation of a US interest rate hike led to the very significant weakening of the Ringgit. Other emerging market currencies also weakened — dampening global growth sentiments further. 

Yet, through it all, Maybank Group is the fourth largest Southeast Asian banking group with an asset base of RM708.34 billion. In terms of profit attributable to equity holders of the Bank (net profit), it has expanded just over 1.5 times from RM4.45 billion in FY2011 to RM6.84 billion in FY2015. It has also strengthened its position in the three core markets of Malaysia, Singapore and Indonesia not only in terms of our leadership in key business segments, but also on service excellence, franchise strength and business capabilities. 

> The answer is this: The values allowed Maybankers to step up to the “call of action.”

Maybank Group CEO, Datum Abdul Farid Alias recalls his experience: 

“As I reflect on the last five years, I truly believe that we have come a long way. I can only attribute our turnaround to the ability of Maybankers to step up to the “call to action”, and execute the strategic priorities as an organization, rather than as individuals. 

The convergence of skills, knowledge and experiences is what makes us effective, especially in more trying economic circumstances such as that we experienced in 2015, and which we can expect for 2016. 

In 2015, Maybank was again recognized as a preferred employer in both the banking and financial sectors. Recognitions such as these give us the impetus to strive even harder with our people transformation journey.”

 

3. Sense of purpose: Prioritizing people first brings sustainable business

“Maybank has a proud heritage of over 50 years, bringing its unique brand of financial services to the people it serves. The Bank traces its origins to Malaysia where it was incorporated in May 1960 with the objective of helping finance the economic growth of newly independent Malaya and bringing modern financial services to its people.” 

 

> Going against the grain: How challenging environment helped Maybank become a high-performance organization

In 2015, the challenging business environment tested the sustainability of the progress Maybank achieved and milestones gained over the years in building a high-performance organization. It also tested the resilience of our workforce in terms of agility, nimbleness and responsiveness to turbulent environments, including disruptors in the industry, to deliver on the Group’s 2015 vision, mission and strategic objectives. We take pride in the fact that amidst the challenges, our people have again delivered another year of trailblazing results and commendable financial performance. 

The key achievements in 2015 were productivity uplift from our sustained initiatives on key levers of productivity; regional and national recognition as a strong and compelling employer brand and top of mind as employer of choice; and validation of best practices in people policies, workplace initiatives and practices ranging from talent development, fostering learning, gender diversity advocacy and work life initiatives. 

 

> Maybank's people initiatives aimed at building engagement, capability and productivity

During the year, Group Human Capital (GHC)’s people initiatives were aimed at sustaining engagement levels, accelerating capability building, optimizing costs to maximize productivity levels, as well as institutionalizing an operational excellence mindset and high-performance culture across the Group. 

Attention was given to ensure that GHC continuously delivered on Maybank’s GO Ahead Employer Value Proposition (EVP). Its EVP empowers its people to go beyond their boundaries and contribute to the organization, as well as their professional and personal growth, and is strongly aligned with our humanizing mission. 

Key highlights in 2015 include:

  • Maybank’s productivity levels continued to trend in a positive direction year-on-year as they remained focused and disciplined in achieving its transformation goals. Its net income per employee was RM462,116 in 2015, compared to RM306,853 in 2010 and RM393,924 in 2014. 
  • PBT per employee rose to RM199,129 in 2015, a jump from RM133,725 in 2010 and RM193,695 in 2014. 
  • Overall income per staff costs was a strong 3.68 times staff cost per staff in 2015. 
  • Continued to be in the top two positions in the country’s most popular employers overall list at Malaysia’s Top 100 Leading Graduate Employer (M100) Awards 2015. Winner of the ‘Most Popular Employer for Banking and Financial Services’ for the fifth consecutive year. Ranked 1st in 2014 and 2nd in 2015 as the ‘Graduate Employer of the Year’, rising from 17th place in 2009. Recognised as ‘Best Innovation on Campus’ and ‘Best Social Media Usage’ for our innovative recruitment platform, Maybank GO Ahead Challenge 2015.

Meet Maybank at the HR Technology Congress Asia 2016, Bali!

HR Technology Congress Asia 2016 (20-21 Oct 2016, Bali) helps companies to lead, engage and reinvent human capital towards sustainable growth and profitability by reducing uncertainties from global mega-trends and ensuring you build competitive advantages as quickly as the world turns. 

Magnify value through industry benchmarking, relationships and partnerships in overcoming hesitations to upgrade systems and update people processes. Email hrtech (at) arcmediaglobal (dot) com to register or visit www.arcmediaglobal.com/hrtech 

Source: Maybank 2015 Annual Report

Keywords:

Maybank

people transformation

 

HR Technology Congress Asia 2016

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