Bank makes the index for the third year in a row
UOB today announced that it has been included in the 2021 Bloomberg Gender-Equality Index (GEI), the third consecutive year the Bank has received the accolade for its commitment to maintaining an inclusive workplace. UOB is one of only six Singapore firms in this year’s Bloomberg GEI, a testament to the Bank’s values-based and meritocratic culture that reflects fairness, care and respect of its people in the workplace.
As at end 2020, women comprised 61.3 per cent of UOB’s workforce, up from 60.9 per cent in 2019. Women represented 35 per cent of senior management and 52 per cent of middle management. Of the ten heads of department reporting directly to the Bank’s Chief Executive Officer, four are women. Women also accounted for 60 per cent of the promotions earned in 2020.
The Bloomberg GEI recognises public companies worldwide that demonstrate commitment to advancing an inclusive workplace through their policies, workforce representation and transparency in gender-related practices. Mr Peter T. Grauer, Chairman of Bloomberg, said, “The companies included in this year’s Gender-Equality Index are committed to providing an inclusive work environment, supporting work-life balance and flexible work arrangements to retain a talented workforce and create a competitive advantage in this changing business environment."
Mr Dean Tong, Head of Group Human Resources, UOB, said, "At UOB, we are committed to ensuring equal opportunity for all on the basis of merit and to attract and to develop enterprising talent with the passion and commitment to do what is right, always. We focus on building a workplace that values every individual and motivates them to reach their highest potential. By welcoming people from diverse backgrounds, perspectives and skillsets our customers, other colleagues and the company benefit. Embracing diversity enables us to question the status quo, to challenge ourselves to do better and to push the boundaries to create simpler, safer and smarter banking services and solutions for our customers. An inclusive workplace starts with a people-first mentality – it is about finding ways to keep every employee feeling happy, healthy and assured to deliver their best at work daily.”
UOB has in place several initiatives to look after the health and well-being of its people. Given the disruption COVID-19 has created to work-life balance, UOB was the first Bank in Singapore to announce permanent remote work options in a post-pandemic world. The majority of the Bank’s 26,000-strong workforce will be given the choice to work remotely two days a week once COVID-19 restrictions are lifted, so as to provide the right balance between professional fulfillment and mental well-being. To promote good mental well-being, it has also put in place flexible work arrangements, digital tools, virtual engagement sessions and mental health programmes to help employees strike work-life balance, as well as to feel positive and effective.
Under its Healthy Employees, Active Lifestyles (HEAL) programme, UOB gives out HEAL$ which are actual dollar credits to employees and their dependents to spend on a wide range of health and wellness benefits. To minimise any financial worries that UOB employees are facing during the ongoing COVID-19 pandemic, UOB expanded its HEAL programme to enable employees to use their HEAL$ to offset any expenses in 2020. All UOB employees are also automatically enrolled in the Bank’s group term life insurance and personal accident plans as a safeguard against unforeseen events.
Ms Teo Yong Ernn, Vice President, Personal Financial Services Singapore, UOB said, “With travel plans halted and having lifestyle changes as a new parent, the Bank’s flexibility on how I can choose to utilise my HEAL$ has made a great difference in overall well-being. I have been able to use my HEAL$ to purchase daily essentials for my baby and have also conducted a comprehensive health screening for myself to ensure I’m well and fit to care for my child. With the Bank’s encouragement, I have also been taking on courses in design and innovation to develop my career at UOB further. What may seem like simple gestures from an employer make a huge difference especially when everyone is battling challenges caused by the pandemic.”
For nursing mothers working at UOB, the Bank has created dual-use nursing rooms at various UOB office locations in Singapore and its overseas subsidiaries to provide them a safe and private space for their nursing needs.
Other benefits the Bank offers include staggered work hours and work-from-home arrangements for employees as well as various leave arrangements including childcare, family leave, maternity, paternity, shared parental leave, infant care no-pay, examination and volunteer leave. In addition, UOB has in place strict anti-sexual harassment policies to protect the well-being and rights of women in the workforce.
The 2021 Bloomberg GEI comprises 380 companies across 11 sectors and from 44 countries and regions. Companies range from a variety of industries, including automotive, banking, consumer services, engineering and construction, and retail.
