CHALLENGE: Low staff engagement as a result of the financial crisis in 2008
TARGETS: 6,600 frontline staff members
DURATION: 30 months in 2 phases
NUMBER OF CONSULTANTS: 5
CHALLENGE: Low staff engagement as a result of the financial crisis in 2008
TARGETS: 6,600 frontline staff members
DURATION: 30 months in 2 phases
NUMBER OF CONSULTANTS: 5
The banking industry has undergone great changes after the financial crisis in late 2008 and as a result, the industry has never been the same again. The global economic downturn and the uncertainty it brought about had a significant impact on staff engagement. HSBC firmly believes that staff engagement is the winning formula in such a difficult time. When staff members are satisfied, they perform better and which in turn makes their customer happy and more transactions are guaranteed.
A highly-visible initiative which aims to encourage its 6,600 staff in AMH PFS to adopt a new mindset in order to embrace changes. Known as “Magical Transformation”, the PFS-wide campaign encourages staff to “think out of the box” and be courageous to make changes happen.
Staff engagement level bounced back to a record high. 4 among the 6 measurements have exceeded the world-class standards.
Targets: 6,600 staff members in AMH PFS, mostly frontline banking professionals including tellers and branch managers.
View rate of the website
View rate of the education videos
Completion of post-video exercise
Got over 75% correct
Staff attended the Magic Friday events
View rate of the education videos
Number of ideas generated
According to the award winners in our initiative, Hermine Shum, Customer Service Manager, and Fanny Lee, Branch Manager of Tuen Shing Street Branch, customer signatures need not be carried in the savings passbooks as the Bank nowadays verify signatures electronically. The enhancement can help to speed up the process of passbook replacement at branches while at the same time achieve a cost savings of HKD 4 Million per annum. It was noted that the new initiative can benefit customers, staff and the Bank. The winning team is able to share the cost savings involved, up to a maximum of HKD100,000.
