DBS Bank’s Post

H-I-T Just brilliant HR and IT go hand in hand to keep up with the ever-evolving landscape ... Some examples of this at DBS includes introducing Hackatons...where employees learn by doing and take risks. Contributing to each customer journey...

Insights from McKinsey: Addressing the Talent Shortage 🌐 A special thanks to Asmus Komm, Florian Pollner and Angelika Reich for this great article! McKinsey sheds light on the critical talent shortage and the impact of investing in people development. The article outlines eight imperatives for people leaders, emphasizing the significance of fostering a culture of learning and development. 🚀 Key Imperatives: 1. Rethink Recruiting: Prioritize nontraditional backgrounds, committing to expanding skills. 2. Tailored Learning: Embrace a 'Segment of One' approach, meeting individual needs and expectations. 3. Democratize Learning: Shift to self-driven, personalized experiences, blending virtual and in-person formats. 4. Adapt to Business Needs: Collaborate closely to assess skills, measure outcomes, and address gaps effectively. 5. Flexible Skill Redeployment: Foster a culture of lifelong learning, creating pathways for upward and lateral moves. 6. Tech-Driven Flexibility: Leverage AI-powered personalized learning paths and 'future skill' taxonomies. 7. Streamlined Learning Experience: Implement an AI-enabled platform for a superior user experience. 8. World-Class Capabilities: Focus on adapting to changing needs and staying tech-savvy. Read the full article here: https://lnkd.in/dqhkvXDK #PeopleDevelopment #corporatetraining #assessment

The #finance sector is undergoing a digital revolution, but a key hurdle remains: bringing people on board with the transformation. 🙋🏻♂️ This article by Swati Kamath discusses the importance of digital transformation for organisations and the three main elements of digital readiness: 1️⃣ digital capabilities 2️⃣ digital mindset 3️⃣ digital culture Key takeaways for me were: 🧠 Digital workplaces require a shift in mindset from employees to embrace new technologies and ways of working. 👩🏽💻 Organisations need to foster a digital culture that values innovation and continuous learning. 💷 It's important to invest in developing your workforce's digital capabilities to stay ahead of the curve. #FutureReadyLeaders #DigitalTransformation #DigitalCapability https://lnkd.in/gjmeQs_G

As the sun goes down in 2023 and comes up in a brand new year, here are the top 3 trends in Org Effectiveness that I think will be key for people and culture teams in 2024: 1. Workforce Empowerment will continue its rise. We will see firms use all technologies at hand and find ways within national/ industry regulations to give the power of choice back to the employee. This includes a) letting leaders set micro cultures within their teams, b) enabling teams and individuals to learn and grow at a pace that fits their ambition, and c) making a personalised set of benefits available for diverse employee groups to leverage. 2. The customer, business and people conversations will merge into one. Leaders will spend more time on human-focussed initiatives both within their firms and with their ecosystem, regardless of how product, service, or tech-oriented their industry is. Effective communication across the value chain will be more important than before, all forms being equally important be it mass, personal, virtual or face to face (the last one is not going away anytime soon). All content will need to continue getting more bite-sized, from work allocation to performance reviews and training. 3. 'Thriving in Change' will continue being the single most important skill for any role holder. This includes the ability to rapidly transform oneself, one's teams and entire organizations through a series of geopolitical, macroeconomic and technological twists and turns that move at an exponential rate. Firms that identify people with this skill and let them thrive in a culture that facilitates change will shine brighter. #newyear2024 #organizationaleffectiveness #workforceempowerment #humanfirst #change #people #culture PS: I tried rewriting this with AI but it missed most of the point while doing much better on brevity

The chart titled ‘10 significant shifts facing organisations today’, sourced from McKinsey & Company, offers a self-explanatory overview of the current trends and challenges shaping the business world. These insights summarise the evolving landscape that organisations must navigate.   Instead, let's delve into the implications of the highlighted trends, which are complex and substantially influence the strategic and operational planning within organisations.   1. Efficiency and Organizational Structure: The emphasis on complex structures leading to inefficiency suggests that organisations might need to re-evaluate and possibly simplify their hierarchies and workflows to enhance productivity and decision-making speed.   2. Resilience as a Competitive Advantage: The higher returns of resilient companies underline the necessity for organisations to develop robust yet agile systems that can withstand market volatility and adapt to change quickly.   3. Mental Health as a Priority: Mental health challenges are a significant factor in employee turnover, so organisations must invest more in mental health resources and create supportive work environments to retain talent.   4. Diversity, Equity, and Inclusion (DEI): The lack of infrastructure to achieve DEI goals indicates that companies may need to allocate more resources and develop more effective strategies to create inclusive workplaces.   5. Leadership Development: With only a quarter of employees viewing their leaders as inspiring, there's a clear need for leadership development programs that focus on modern leadership qualities like CRAFT (creativity, resilience, agility, focus and trust), impact, and inspiration.   6. Talent Management: The high productivity of top performers suggests that organisations need to identify, nurture, and retain high-calibre talent, as they are disproportionately valuable to the organisation.   7. Hybrid Work Models: The strong preference for hybrid work models among employees implies that organisations should consider flexible working arrangements as a permanent fixture to attract and retain employees.   8. Adoption of AI Technologies: The use of AI capabilities signifies that organisations must continue to embrace digital transformation, requiring investments in technology and training for employees to leverage AI effectively.   9. Workforce Retention: With a significant portion of workers considering leaving their jobs, organisations face the challenge of reimagining employee engagement and retention strategies.   10. Skills and Capabilities Gap: The capability gap reveals an urgent need for upskilling and reskilling initiatives, which will ensure that the workforce can meet current and future demands.   These implications suggest that organisations must be resilient, agile, employee-centric, technologically advanced, and led by visionary, high-quality leaders to succeed in the contemporary business environment.   #CRAFTleadership #trends #strategy #planning

𝗧𝗵𝗲 𝗿𝗲𝘀𝘂𝗹𝘁𝘀 𝗮𝗿𝗲 𝗶𝗻, 𝗰𝗼𝗺𝗽𝗮𝗻𝗶𝗲𝘀 𝘁𝗵𝗮𝘁 𝗯𝘂𝗶𝗹𝗱 𝗵𝘂𝗺𝗮𝗻 𝗰𝗮𝗽𝗶𝘁𝗮𝗹 𝗮𝗿𝗲 𝗺𝗼𝗿𝗲 𝗰𝗼𝗻𝘀𝗶𝘀𝘁𝗲𝗻𝘁 𝗮𝗻𝗱 𝗿𝗲𝘀𝗶𝗹𝗶𝗲𝗻𝘁 𝗽𝗲𝗿𝗳𝗼𝗿𝗺𝗲𝗿𝘀 𝗮𝗻𝗱 𝗮𝗿𝗲 𝗯𝗲𝘁𝘁𝗲𝗿 𝗮𝘁 𝗮𝘁𝘁𝗿𝗮𝗰𝘁𝗶𝗻𝗴 𝗮𝗻𝗱 𝗿𝗲𝘁𝗮𝗶𝗻𝗶𝗻𝗴 𝘁𝗮𝗹𝗲𝗻𝘁. 🚀 McKinsey & Company analyzed 1,800 large companies across sectors in 15 countries, sorting them based on two factors: how much they focus on developing human capital and whether they financially outperform their sector peers. 💡 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗦𝘂𝗺𝗺𝗮𝗿𝘆 𝗯𝗲𝗹𝗼𝘄: 1️⃣ When companies emphasize skill development, it pays off for workers. 2️⃣ Building human capital also pays off for firms in the form of more consistent earnings and greater resilience during crisis. 3️⃣ Some firms (“People Performance Winners”) prioritize developing their employees and manage to deliver top-tier profitability at the same time. 4️⃣ People Performance Winners have a particular organizational signature that challenges and empowers employees while fostering bottom-up innovation. Rebuilding business culture is a challenging and continuous commitment which requires effort, self-awareness and a willingness to break with old patterns. But the companies that have a human-centric approach alongside an empowered organisational culture have a lot to gain. #peopleandculture #performance #futureofbusiness #profitboost

#mckinseyinsights #ceoguide 8 priorities of CEOs in 2024 and #Genai leads the list. Technology, geoeconomics & growth are some core priorities considered. Interesting from Human Resources perspective was the 5th priority. Here it goes… 5. Glory to the middle managers Companies are increasingly recognizing the crucial role of middle managers in their organizations. They play a key role in driving performance, ensuring organizational coherence, and fostering employee engagement. Understanding and leveraging the potential of middle managers is vital for sustained success in today’s business landscape. #respect https://lnkd.in/gpa4xUdD

The pace of change today is faster than ever. Emerging technologies, shifting consumer preferences, increased automation - the workplace evolution necessitates that organizations continually upskill employees to remain competitive. More than merely providing #training, upskilling is an investment in nurturing talent and enabling continual growth. It demonstrates a commitment to employees by equipping them with expanded capabilities to thrive despite uncertainties ahead. Beyond capabilities, #upskilling also fosters loyalty and retention. Employees feel valued knowing their personal and professional growth matters. An uplifting, progressive work #culture attracts top talent and inspires discretionary effort. Every organization’s biggest asset is its people; upskilling allows extracting their fullest potential. The value of upskilling is immense. A skilled, motivated workforce adept in the latest technologies and skill sets is the bedrock for an organization’s sustained success. Upskilled employees can better leverage new opportunities and spearhead innovation. They bring fresh perspective and outside-the-box thinking - key ingredients for turning disruption into competitive advantage. "It’s more than a mere augmentation of skill sets; it empowers teams, fortifies organizational resilience, and propels operations toward sustainable excellence." https://buff.ly/47DaOtM While training budgets often face cuts during lean times, forward-thinking leaders know such cycles necessitate preparation more than ever. Investing in employee upskilling, even amidst uncertainty, is a resounding vote in favor of the future. It’s about amplifying capabilities, bandwidth and collaborative capacity across the organization - the best safeguard for preparedness regardless of what lies ahead. It begins with defining the skills and behaviors needed for future performance success and then crafting the #strategy to prepare people to meet this future. Interested? Let's talk.