StanChart to retrain 3,000 staff here by 2020

Employees at StanChart Singapore can sign up for any of over 100 bank-sponsored courses, on top of taking up a SkillsFuture course.
Employees at StanChart Singapore can sign up for any of over 100 bank-sponsored courses, on top of taking up a SkillsFuture course.PHOTO: ST FILE

Standard Chartered Bank here has launched a plan to reskill and retrain more than 3,000 employees in three years to prepare them for future roles amid a changing financial industry.

The plan builds on an existing programme, SkillsFuture@sc, which StanChart launched last year to identify and source training that would equip its people for the future.

Under this programme, employees at StanChart Singapore can sign up for any of over 100 bank-sponsored courses, on top of taking up a SkillsFuture course using the government credit of $500 awarded to Singaporeans aged 25 and above.

More than 800 employees have enrolled for the courses under SkillsFuture@sc this year.

For the next three years, StanChart aims to do more by introducing a structured reskilling plan, targeting to retrain more than 3,000 employees by 2020, it said yesterday.

The plan is to identify around 1,000 employees each year who fall under two main categories - those whose roles may be at risk in the future, and those who would benefit from an expansion of skill sets and growth. They will be encouraged to enrol for the courses and, upon completion, be able to apply for a different role within the bank.

Ms Charlotte Thng, StanChart Singapore's head of human resources, said: "The best thing we can do for our employees is to help them be prepared for their future roles."

As machines and technology change job scopes within the financial industry, the bank is focusing on training that enhances people's technological skills in data analytics, blockchain, data mining and artificial intelligence, she added.

"We need to better understand technology and know how to use it to help us be better and faster in our work."

The second area of focus is to help employees be even more "human" in their jobs and provide the extra human touch that machines can't replace, she said.

The training will be in areas such as customer interaction, human-centred design and project management. "The key is to enhance our strengths and be better at what makes us different from machines."

A version of this article appeared in the print edition of The Straits Times on December 28, 2017, with the headline 'StanChart to retrain 3,000 staff here by 2020'. Print Edition | Subscribe