OCBC Bank rolls out SG50 goodies for 8,000 employees

OCBC personnel (from far left) Mr Ben Chua, Ms Aisha Lin and Ms Jessica Huang with the exclusive SG50 Nets Flashpay card that all local staff will get, among other SG50 rewards. The bank will also set aside about $500,000 for its overseas staff to ho
OCBC personnel (from far left) Mr Ben Chua, Ms Aisha Lin and Ms Jessica Huang with the exclusive SG50 Nets Flashpay card that all local staff will get, among other SG50 rewards. The bank will also set aside about $500,000 for its overseas staff to hold commemorative events.PHOTO: OCBC

Tickets to local attractions, Nets Flashpay card, bank's stock are among some of the gifts

OCBC Bank will give its 8,000 local staff gifts ranging from shares to cash cards to celebrate Singapore's 50th birthday.

About 3,000 junior executives and employees will get about $1,000 worth of OCBC stock - about 100 shares each going by yesterday's closing price of $10.32. The gesture is to encourage staff to participate in the lender's growth, the bank said.

All 8,000 local OCBC staff will also get a special OCBC SG50 Nets Flashpay card with $100 in preloaded credit and four complimentary $20 tickets to Gardens by the Bay. Staff can also enter a ballot for 6,000 Universal Studios Singapore tickets for a subsidised price of $5 each, well under the usual price of $74 for a ticket.

Each employee can ballot for up to four tickets.

Employees can also trade points earned using OCBC credit cards for twice the usual benefits until the end of the year.

  • How other companies are commemorating SG50

  • Singtel is giving 9,000 local employees a $300 rebate on subscription fees. About 5,000 of operational and support level staff also received a one-off bonus of $200 in their June pay cheques.

  • Singapore Airlines is giving a one-off payment of $500 to all local employees below the rank of senior vice-president, a move that will benefit about 18,500 employees.

  • CapitaLand will give a day off to all 13,000 employees worldwide on Nov 23 . November is the company's anniversary month.

  • SMRT announced in May that each of its 8,500 employees will receive $500 worth of shopping vouchers. Management said it will donate its share - about $50,000 - to charity.

The bank will also set aside around $500,000 for 10,000 or so of its overseas staff to hold commemorative events.

It has also launched an SG50 mobile application that quizzes users on the bank's and Singapore's history. Chief executive Samuel Tsien said yesterday: "Our employees have played a big role in OCBC's success and the country's success - and we must also not forget their families, who have provided them with unwavering support."

He added that when deciding on the benefits, the bank had taken into consideration that employees had said they would like something beyond just cash .

Mr Ben Chua, assistant manager, group operations and technology of OCBC Bank, said in a statement: "The gift of 100 OCBC shares is a great way to reward employees.

"It makes us feel that we have a stake in the company.

"This will encourage us to work even harder to contribute to the success of the company."

A version of this article appeared in the print edition of The Straits Times on July 28, 2015, with the headline 'OCBC Bank rolls out SG50 goodies for 8,000 employees'. Print Edition | Subscribe