UOB Thailand lands two wins at ESGBusiness Awards 2024 for workplace wellness, empowerment programmes
The banking company offers various benefits to employees that they can utilise depending on their different needs.
Major banking company UOB Thailand emerged triumphant at the recent ESGBusiness Awards 2024 for its remarkable achievements in championing diversity, equality, and inclusion in the workplace, as well as prioritising employee health and wellness with a holistic approach.
In the aspect of gender equality and women empowerment, women account for nearly 73% of the bank's permanent workforce and represent 67% of new hires in 2023. Women also make up 62% of senior management function heads who report directly to the CEO. In 2024, the company’s Deputy CEO is also a woman.
This is powered by the company’s recruitment policy, which practices non-discriminatory hiring and makes employment decisions based on business needs, job requirements, and qualifications.
UOB Thailand is also committed to building a professional environment that allows everyone an equal opportunity to flourish and develop within the organisation. Assessments of employee development are based on performance objectives established by colleagues and their line managers. Employees are also encouraged to raise concerns without fear of retaliation through the group’s whistleblowing mechanism.
Amidst the many changes in the past year brought by business integration, UOB Thailand has put forth additional efforts in emphasising its principles of diversity, equality, and inclusion. It has improved numerous benefits, such as announcing paternity leave for male employees and full-pay maternity leave for 112 days.
“We strive to create an equal and inclusive environment where active discourse is encouraged, and equal opportunities are provided to all our employees regardless of age, gender, or beliefs,” the company said.
Meanwhile, the company offers flexibility to employees through benefits that they can utilise based on their different needs.
The company’s holistic approach to workplace wellness, as exemplified through the “Wellness - Shape Your Life” programme, takes care of its people in six dimensions: mental, physical, financial, career, intellectual, and social.
Amongst the initiatives launched under this programme are 12 hours of free counselling session with psychologists; 11 staff-run social clubs; knowledge sharing sessions; skills training in areas such as artificial intelligence, data analytics, project management, and career planning; ongoing activities to foster personal and professional growth; and fundraisers and volunteer opportunities in art, children’s welfare, education, and environmental care.
UOB Thailand has also made staff loan adjustments with higher loan amounts and special interest rates for housing, home renovation, car and personal loans.
With these stacked efforts in place, the company’s engagement score of 88% in 2023 has been an impressive increase from the previous year, in which scores amongst genders showed no significant difference. The bank’s retention rate during the same period has also seen a 1% improvement, whereas market average is 4% lower.
Despite the uncertain global growth track, UOB Thailand’s 2023 operating profit also increased by 39% and operating income grew strongly by 63%.
The company has also observed a reduction in the average number of sick days used by employees, which decreased by 6% compared to 2022.
“We believe that when people are empowered and fulfilled, they will be more engaged, strive for higher productivity, drive our performance, and are motivated to advance their careers within the Bank,” it said.
UOB Thailand received the Workplace Wellness Programme Award - Thailand title in the awards programme for the success of its “Wellness - Shape Your Life” programme, whilst it took home the Gender Equality and Women Empowerment Award - Thailand win for its effective policies and projects on diversity, equality, and inclusion.
The ESGBusiness Awards 2024 celebrates companies that are leading the way in building a sustainable future. It also highlights businesses that demonstrate outstanding commitment and achievement in environmental, social, and governance practices.
The ESGBusiness Awards is presented by ESGBusiness. To view the full list of winners, click here. If you want to join the 2025 awards programme and be acclaimed for your company's outstanding commitment and achievement in environmental, social, and governance (ESG) practices, please contact Julie Anne Nuñez at [email protected].
