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Thursday, 6 February 2014 00:01 - - {{hitsCtrl.values.hits}}
By Shabiya Ali Ahlam:
Q: What is the purpose of your visit to Sri Lanka?
A: I took over the role of Head of HR for the region last April and this is my first visit to Sri Lanka since my appointment. There are a number of reasons as to why I am here. The business is performing extremely well and we just had a great year. My visit is to understand and spend some time with the leadership team and also to meet some of the talent we have in Sri Lanka.
My visit is also to understand how things have been here and to convey what we have been doing from the regional perspective that will help the talent pool in Sri Lanka to understand feedback in terms of how things are here.
I will be looking at the issues here, areas that need more focus and require change.
Q: What are your views on the talent pool in the South Asian region when compared with other parts of the world?
A: I think it is actually one of the biggest opportunities and differentiators that we have. If I look collectively at the capability of South Asia, I think from the perspective of education, creativity, and energy there is great potential here compared to what I have encountered in other regions. So I think to me our people are genuinely the opportunity that gives us the ability to develop. We just need to harness people in a different way.
Q: So where does Sri Lanka stand when compared with other parts of South Asia?
A: The thing that works well in Sri Lanka is that people really have openness and the ability to move within and across functions. I see there is a real appetite and openness to more general management capabilities and not just to be very functionally specific. I think what that does is that it creates a platform of broader leadership capability than if you are very functionally aligned when following a very technical path.
Q: What are the current challenges for HR practices in the region?
A: Compensation is a big one and the issue around that is about continuously tracking and funding in high inflation markets. If you take Sri Lanka in particular, as an economy it is opening up and there is a high level of economic growth and high interest in terms of new entrants to the market for existing players.
It is about having to be more innovative in order to retain people. That is partly compensation but it is also around the aspects such as engagement practices, the working environment created, and the benefits structure put in place.
Another challenge is that people have a lot more choice. So as HR managers we have to be more thoughtful and be adaptive to what people look for. It isn’t just about a career path. It is about helping the employees to feel that they are important and a part of something while enjoying work.
Q: Focusing on Standard Chartered, what is its global presence in terms of HR?
A: Globally we have around 80,000 employees, within the region it is 9,000 and for Sri Lanka it is about 600.
Q: Are there any plans for expansion in Sri Lanka?
A: This year we will see growth beyond our budget range and next year it will be an aggressive budget growth as well. The trajectory for the Sri Lankan business is a very positive one.
In terms of opportunities in the retail and wholesale side it is quite significant. We see Sri Lanka in the region as a definite growth market. It is certainly an investment market. Definitely from a revenue perspective we will see some growth. Depending on how that revenue grows we will see a potential for growth of head count.
Q: What are your observations on the talent pool in the country and where do you think is the room for improvement?
A: I see a lot of optimism in the talent in Sri Lanka. There is a willingness to grab opportunities and the desire for growth. There is a genuine desire to do things that are interesting. I see a value where fundamentally people have a passion to do more in developing the organisation.
Missing however is the want to challenge more. This is not just for Sri Lanka but across the world. We often talk about the need to change but we always wait for someone to do it for us. For that the answer is within us. It is partly a bit of both, we need help but we also need to push.
Q: How has the talent pool of Standard Chartered contributed to the overall banking sector of Sri Lanka?
A: There has been some great work that we have done here from a diversity and inclusion point of view. In fact Sri Lanka won the diversity and inclusion award for the group. I think there is really good work on engagement here and there is good work done on the brand presence. The bank is also trying to look at different ways for remuneration which we are reviewing at the moment.
There is a desire to help shape how HR operates within Sri Lanka, taking into account the needs of the employee base. There is a shift that is happening from what the company requires and the employee does, to what the employee requires to what the company does. That is starting to be a little bit more balanced. Historically the company had the balance of power and I see it shifting. So thinking around what works for employees is what the team here is doing extremely well.
Q: What are the lessons other banks could learn from Standard Chartered?
A: The working environment in the bank is unique. That is quite difficult to define since it is a consequence of lots of different activities and approaches. Having recognition of that importance is something that has worked very well for us.
Q: Sri Lanka is developing and opening up and you mentioned that there could be further expansion in the county. However, there is a challenge of finding the right talent to service the sectors. How would Standard Chartered overcome this?
A: We need to be thoughtful on how the talent pool moves. For example we had someone joined as an international graduate who is going to be moving to Dubai, UAE. That is an example of how we have taken someone from a graduate perspective and developed them through. We need to do more of that.
Whilst there is a limited talent pool here, we still want to export people from Sri Lanka to give them opportunities and international exposure. We feel that people who have insights from this market will be beneficial elsewhere.
The bank needs to focus on tackling graduates and developing them so that a talent pipeline is created. And one other thing we could do is to make jobs more interesting so that people who have left the country will be attracted back.
Q: What does it take to be an employee of Standard Chartered?
A: One big theme that I noticed even before joined the bank is its connectivity to the community. The whole CSR proposition has become part of the DNA of the bank. One of the things I observe is the sense of wanting to make a difference beyond the job within the community. Within that is a level of compassion and passion for making a difference and looking beyond the parameters of just a job. You need to have a level of technical competence, but in order to thrive and enjoy working here, our employees need to be able to see the value in being able to help the community.
Q: What is your vision for the South Asia region?
A: I see the HR team as a critical enabler for the region being able to achieve its aspirations. The team is able to facilitate coach, push, and engage with the leadership to be able to hit the aspirations we have rather than just dealing with the HR job and responding to the particular needs. The vision is to be a more proactive facilitator within the business.
