RHB Banking Group, a major financial institution in Malaysia, has been a significant player in the industry since its establishment in 1913. With a workforce of over 17,500 employees, the company is highly regarded for its successful efforts in maintaining an employee retention rate that is well above the industry average. The Group’s strategies are tailored to foster a strong and supportive work culture, which is key to its success in the competitive financial services sector.
Employee Value Proposition (EVP)
The EVP of RHB Banking Group is designed to create a balanced work-life culture by focusing on five key pillars: Care, Leadership, Inspiration, Progression, and Rewards. These pillars ensure that employees’ needs are met while aligning with organizational goals. By focusing on employee well-being and providing a robust framework for professional growth, RHB cultivates a high level of engagement, which is integral to the company’s continued success in retaining and motivating its workforce.
Strategic Human Resource Management
To ensure long-term employee satisfaction, RHB Banking Group has made substantial investments in its workforce, allocating approximately RM40 million towards employee growth and development. The strategic focus includes various human resource initiatives, such as Learning & Development programs, talent management, and performance reviews, which are all designed to enhance individual and organizational performance. This comprehensive approach to HR management has helped the Group develop a competitive edge in the financial services market.
Employee Engagement & Communication
RHB’s commitment to employee engagement goes beyond compensation, with a strong emphasis on open communication. Regular town hall meetings, an employee portal (My1 powered by Sharepoint), and leadership interactions ensure that all employees are kept informed about the company’s performance and strategic direction. The Group’s management team also prioritizes direct engagement with staff through annual updates and frequent visits to regional offices. This transparency fosters trust, loyalty, and a strong sense of community within the organization.
Promoting Team Bonding & Well-Being
RHB places a premium on team bonding and employee well-being. The Group organizes a range of activities designed to strengthen relationships among staff and promote a healthy work-life balance. These include team-building exercises, health and fitness initiatives, and social events such as hiking trips, cycling sessions with senior management, and festive celebrations. These initiatives not only encourage physical and mental well-being but also help create a culture of collaboration and camaraderie across the organization.
Employee Feedback & Satisfaction
At RHB, employee feedback is encouraged and highly valued. The Group fosters an open communication culture where staff can voice their opinions directly to the leadership team, including the Group Managing Director. This is facilitated through various channels, including a blog maintained by the CEO. Employees also appreciate the company’s focus on employee well-being and the supportive, inclusive atmosphere that encourages cross-department collaboration and mutual respect. These initiatives contribute to a positive work environment that is consistently rated highly by employees.
