Siam Commercial Bank


Awards and Recognition:
 

Company details

Address

Siam Commercial Bank
9 Ratchadapisek Rd.,
Jatujak Bangkok 10900 Thailand

Siam Commercial Bank 9 Ratchadapisek Rd., Jatujak Bangkok 10900 Thailand


Industry

Banking


Vision

To be ‘the Most Admired Financial
Technology Group in ASEAN’

To be ‘the Most Admired Financial Technology Group in ASEAN’


Head Count

22,000


Website

www.scb.co.th


Explore opportunities with us!



www.careers.scb.co.th

www.careers.scb.co.th

Siam Commercial Bank (SCB) was founded on January 30, 1906, by the Royal Charter to serve as the first indigenous bank in Thailand for over 115 years. As one of the leading universal banking groups in Thailand, SCB provides a wide array of financial products and services to meet the needs of diverse customers. True to its role as a universal bank, the Bank has a significant presence throughout the country and stands ready to serve every customer segment with its vast portfolio of financial products and services offerings. In addition, the Bank’s subsidiaries serve a dual role of financial specialists to meet specific customer needs as well as channels for new growth opportunities.

Major SCB Financial Group Companies

A major restructuring is underway for the SCB Financial Group. The group will transition to a new structure where SCBX will be the head of the group and the Bank will become a subsidiary along with other existing subsidiaries. Some of these subsidiaries will spin-off from the Bank with the new entities owned directly by SCBX. These subsidiaries will venture into businesses with relatively distinct growth, return and risk profiles from the Bank, such as various forms of personal loans (e.g. title loan, luxury car hire purchase, credit card), unsecured personal loans, as well as moving into new territories of technology solution and digital platform businesses.

SCBX’s vision is to be ‘the Most Admired Financial Technology Group in ASEAN’ with a target of 200 million customers throughout Thailand and ASEAN.

Work from Anywhere: the new way of work and results beyond expectation

The Bank has extended the ‘Work From Anywhere’ (WFA) arrangement into 2021 to increase workforce flexibility, build a culture of trust, and enhance our employee well-being. The arrangement is based upon the ‘3Es’ management framework, seeking to help SCB employees to become resilient, agile, and well-organized in the face of changes.
  • Enablement
    Provides devices and VPN readiness to executives and staff at every level across the organization; adjusts work process; and develop digital platforms specifically for human resource management, such as HR on Mobile and SCB Telecare, to ensure that SCB employees can work with convenience and seamless connection while maintaining a healthy state of body and mind.
  • Engagement
    Continually conducts the employee survey on WFA arrangement to help enhance work-life balance
  • Empowerment
    Consistently improves the knowledge management to ensure that the Bank’s knowledge base is readily accessible to all employees and available when needed, in hope to strengthen culture and fundamental for building a learning organization.
After SCB implemented its Work from Home policy in response to the pandemic, the bank followed up with a well-rounded study of impacts. Pros found included higher productivity, better time management (no wasting time commuting), on-time result delivery, clear work plans, and organized workflow. Staff are happy with working from home, as they feel they have more time and work more effectively, with reduced commuting costs and more family time.

Work from Anywhere was also an occasion for SCB to review regulations. Banking requires strict regulatory compliance, but working from home during the pandemic led some to question how to oversee and monitor regulatory compliance. The necessity of concerned regulations has been reviewed for further amendments to bring them more in line with the new way of working.

Performance Assessment

The bank has explicit rules and guidelines for performance management under the WFA policy to ensure goal alignment, transparency, and fairness. With an individual’s goal-setting process, employees agree on goals, KPIs, assessment weight (self vs. supervisor’s) which give employee a clear idea of their work starting from the beginning of the year.

Another pro of working from anywhere discovered at SCB is that staff are more eager to throw out ideas via online meetings. Previously many staff members preferred to remain quiet in face-to-face meetings, rather than sharing ideas with their supervisors who chaired meetings. Online meetings through computer screens make those people feel equal and less nervous, and therefore more confident in sharing ideas. Their listening skills also improved, as participants cannot talk at the same time, so they listen and respond more attentively.

Employee Benefits & Activities

Believing that “people” are the foundation driving an organization to sustainable growth, Siam Commercial Bank (SCB) places great importance on taking care of its employees in every aspect, whether it be their physical or mental health. Employees who are happy and have a good work-life balance will work more efficiently and be able to create quality work, bringing positive changes to the organization.

In terms of well-being programs, the Bank has designed programs to take care of our staff members’ physical and mental health. Providing a favorable social environment will not only improve their holistic well-being, but also help increase their productivity. Some of SCB's Employee Wellness Program are:
  • SCB Telecare
    An online doctor consultation platform that allows employees to make appointments for consultations with doctors by themselves. Employees will also receive their prescription drugs delivered to their residence if needed. The platform makes it easy for staff to see a doctor wherever they are, with no need to waste time commuting to a hospital.
  • SCB Call for Care
    Monitoring and providing care services for both physical and psychological wellness of employees who were infected by COVID-19, and isolated themselves at home. With this initiative, professional nurse stationed at the Bank’s care room will monitor employees’ conditions and provide medical recommendations until they are back to full recovery.
  • SCB Good Health
    A wellness webinar featuring medical experts who provide knowledge and guidelines on how to avoid various diseases.
  • Good Doctor
    Health consultant application for employee to chat and interact with doctors conveniently, and quickly without having to commute to hospitals.
  • Coolkith
    A project that assists employees in taking care of their mental health when they experience stress at work or in their personal lives. Employees can seek consultation from psychiatrists and psychologists provided by the Bank free of charge.
  • SCB Wellness Podcast
    An easy listening podcast program that provides wellness and working tips that can be applied to everyday life.
  • SCB We Share
    An online knowledge sharing community, featuring SCB employees and external speakers expounding on a variety of topics that allow employees to learn and share experiences with coworkers.
  • SCB Fitness
    A fitness center located within the head office building with complete exercise equipment, a sauna, and a yoga room, and facilities for employees who want to exercise before or after work. There is also an outdoor soccer field.

We are very delighted to receive the honored Award 2022 HR Asia Best Company to work for. This gives us the confidence that we are running to the right direction of the new way of work. In the meanwhile, we keep tracking and monitoring ourselves at the level of international standard comparing among well- known leading organizations too. A part of our proud, this allows us to know employee’s feedback and point of view. So that we can work on our improvement further.

Patraporn Sirodom, Senior Executive Vice President & Chief People Officer

Organisational Structure

The Bank’s workforce vision is to best uplift employees’ and organizations’ capabilities to achieve its objectives within the resource constraint in conjunction with building good and strong leaders to become the bank of the future through 5 key approaches.
  • Workforce Optimization
    The Bank places importance on workforce management, assigning each employee an appropriate task while uplifting their career mobility. This is done in parallel with the implementation of work processes automation which will lead to cost efficiency, and the transformation of the Bank into an agile and digital organization.
  • Efficient Organization Structure
    The Bank seeks to redesign its organizational structure to foster integrated work skills by adopting the “Productivity Index” concept, as well as People Analytics to strategically design workforce monitored by real-time dashboards. These practices enable executives to information, assess, and accurately make data-driven decisions related to human resource management.
  • Robust Pipeline of Leaders
    Talent management and succession planning are identified as the Bank’s strategies in creating career path for employees to grow with the organization. The Bank has subsequently assessed key positions and built leadership readiness for executives and future leaders. This is to ensure that the Bank has ready workforce for critical positions succession and able to respond to future challenge.
  • Institutionalized Culture
    The 4 core values are fostered and embedded into the way of work, including, Customer Centricity, Risk Culture, Innovation, and Speed. The Work from Anywhere arrangement has also been playing a significant role in fostering these core values and building a ‘listening’ culture, collaborating for success at both personal and organizational levels to deliver new values to customers and society.
  • Attractive Pay
    To manage and encourage employees to support the organization’s goals and for the Bank to become a “High-Performance Organization”, the Bank has in place a policy and system for pay equity based on fair and competitive considerations upon each type of work, as well as assigned role and responsibility. Job evaluation and annual self-evaluation are performed, including 360-degree feedback before assessment by supervisor and calibration at function level.

Attracting and retaining top talents

Realizing that "people" are the heart driving business success, the Bank needs to set up guidelines for promoting staff competency and potential, ongoing career advancement, remuneration, culture, and the work environment. To attract and retain its talent in a highly competitive and rapidly changing business environment, the Bank has launched programs helping promote career paths for employees to promote them to higher positions, such as the SCB Employee Scholarship Program for master’s degrees abroad and cross-functional growth by seeking internal career opportunities which will motivate potential staff to continue working with the Bank in the long term.

In addition to retaining quality personnel, the Bank continues to enhance its capacity to meet current and future challenges and opportunities in order to become a “Bank of the Future” according to the laid-out strategy. Recruiting talented people to help develop the organization's business capabilities in the digital era is essential. In order to proactively recruit and attract personnel for laying the groundwork for digital banking business, in 2021 the Bank established an SCB Young Tech Scholarship Program for bachelor's degree graduates in science and technology with the aim of creating a new generation of employees who will become an important force in creating growth following the Bank's digital banking strategy.

SCB Academy to unlock skills and performance

While placing importance on creativity and life-long learning, the Bank seeks to uplift and equip its employees with the readiness to upskill, reskill, and develop technological skills with flexibility and resilience. These skills are fostered through SCB’s new way of learning and working, which prepares employees for career advancement whilst adding value to the business and its stakeholders.

Aligned with the Bank’s strategic directions, the nation’s development strategy, and megatrends, the SCB Academy is tasked with fostering learning and uplifting employee capabilities to allow them to realize their full potential. The efforts are being concentrated on developing employee capabilities to help build competitive advantages and prepare employee readiness for future ways of work by providing support as follows:
  • Learning in different forms and formats
  • Coaching and providing advisory
  • Reskilling
  • Upskilling
With a commitment to equip personnel with relevant knowledge and technology skills in parallel with flexibility, adaptability, creativity, and life-long learning, the SCB Academy has designed courses for developing future work skills that employees can access and attend through online channels. One of the important courses is the Customer Centricity Foundation Course, designed to help our staff decipher and meet customer needs. The course consists of three main modules:
  • Design Thinking
    Understand and be able to creatively apply design thinking to solve problems and address customer needs
  • Agile and Lean
    Understand the agile and lead way of working, delivering value to customers with speed, while terminating ineffective, value-degrading processes
  • Data Analytics
    Recognize the importance of data analytics and measurement in order to understand customers and make precise decisions
In addition to developing learning courses for employees, SCB Academy also offers a program to help provide career and work advice called “ Career Coach .” The program has been implemented based on the belief that having a coach to provide advice will help our employees unleash their true potential, encouraging them to realize their value and work with greater efficiency. Currently, there are 23 executives acting as Career Coaches, with more than 160 employees participating in the project and helping the bank reduce operating costs by half a million baht through hiring external coaches.