UOB Thailand has developed a leadership development model and transformed its bank branches to drive successful outcomes
In today’s dynamic and competitive landscape, organisations recognise that employees are their most invaluable asset. With a vision to excel in their respective industries and a commitment to fostering a thriving workforce, companies are now developing leadership development programmes for staff.
Strategic leadership
United Overseas Bank (UOB) Thailand has demonstrated an unwavering commitment to supporting its workforce.
Grounded in the vision to become the world’s most trusted bank, UOB Thailand has created the Leadership Right By You (LRBY) programme. This initiative is tailored to different organisational levels and includes programmes for individual contributors, newly promoted managers and those overseeing teams.
The LRBY programmes are designed to boost the bank’s leaders by aligning them with the expected behaviours of a ‘UOB Leader’, motivating them to take the right actions and equipping them with the necessary knowledge, skills and techniques for success in leadership roles. This structured leadership journey caters to individuals at all levels, including individual contributors, people managers and managers of managers. It ensures a comprehensive approach to leadership development across the organisation.
UOB Thailand underscores the importance of leaders demonstrating care for their team members and exhibiting courage in addressing challenging situations, ultimately defining the distinctive qualities of its leaders.
Branch transformation
Recognising the challenges posed by swift customer preference changes and technological advancements, UOB Thailand has created the Strategic Transformation and Analytics Roadmap (STAR) framework.
Under this framework, the bank has implemented three key strategies for branch network rejuvenation: branch network transformation, new branch format and recalibration of branch operating hours.
These data-informed strategies have resulted in positive outcomes including increased revenue generation per square metre and improved net promoter scores.
Successful outcomes
In 2022, UOB Thailand enhanced its branch space utilisations for the advisory and engagement areas by 19%, resulting in a 69% increase in revenue generation per square metre compared to 2021.
The net promoter score (NPS), a measure of customer loyalty, exhibited remarkable growth in the first half of 2023. The top-tier NPS soared by 17.5%, while the bottom-tier saw a 7.5% uplift from the first half of 2022.
Lastly, from a business-centric viewpoint, UOB Thailand observed growth rates of 15% in deposits and 3% in lending balance in the first half of 2023 compared to the same period the previous year. These positive outcomes not only validate the efficacy of the STAR framework but also solidify the bank’s conviction in its journey towards becoming a fully data-driven organisation.
UOB Thailand has been recognised as the winner of the Excellence in Leadership Development, Excellence in Employee Recognition and the Best Use of Big Data in Customer Strategy awards at the Annual Retail Banker International Asia Trailblazer Awards 2024.