DBS Bank: Training and Development Initiatives for Gen Y

This report provides an analysis of training and development initiatives specifically tailored for Generation Y employees at Development Bank of Singapore (DBS Bank). It begins with an overview of the characteristics of Generation Y, highlighting their expectations and preferences in the workplace. The report then delves into the importance of performance management and learning within the context of attracting and retaining this demographic. It identifies key issues DBS Bank faces in retaining Generation Y employees, such as the need for flexible work arrangements and digitalized performance management systems. The report offers concrete recommendations for improving training and development initiatives, including innovative learning spaces, scholarship programs, mentoring and coaching programs, immediate feedback mechanisms, and the integration of game design learning methods. The report emphasizes the importance of digitalization and creating a work environment that fosters continuous learning and development to increase employee engagement and reduce turnover within DBS Bank. The report is based on contemporary academic literature and provides practical examples to support its recommendations.

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Training and Development Initiatives
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Executive Summary
The main objective of this report is to analyze the training and development initiatives for
Development Bank of Singapore (Here and after referred as DBS Bank). This project
highlights information on different aspects of training which influences retention of
Generation Y employees. The issues in the DBS bank are described and the revamped plan
for training of Generation Y employees is discussed in the report. The various elements of the
report are summarised as follows:
 To describe the overview of Generation Y characteristics
 Importance of performance management and learning is discussed
 To Training and development initiatives are recommended
The Training and development initiatives are designed considering the features of Generation
Y employees. The report also suggests that the digitalization in performance management is
the key to cope up the turnover issues. Some of the training and development initiatives taken
by DBS like Artificial intelligence-powered E-learning techniques, Game designed learning
methods are discussed in the following sections.

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Contents
Introduction................................................................................................................................3
Performance Management.........................................................................................................4
Issues with attracting and retaining Generation Y employees...................................................5
Recommendations......................................................................................................................6
Reference List............................................................................................................................7

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Introduction
The rise of global competition intensifies the need of attraction and retention of
talented employees as they can provide competitive edge to the organization. Retention of
key employees has become the need of the hour to reduce recruitment cost. The employers
want to critically utilize the employee’s knowledge and skills. The employee training and
development makes it imperious to achieve strategic goals (Kim, Shin and Min 2016).
Training and development plays a crucial role in retaining the employees. The training and
developments skills are being altered with the changing time ( Harzing 2017). The employees
today are mostly around 20 to 30 years. In order to attract and retain the generation Y,
different approaches can be implemented. Digitalization of performance management relating
to generation Y is discussed in the report.
It is important to note that Development Bank of Singapore is a multinational
banking and financial services corporation which is considered to analyze the issue of high
turnover (DBS Bank 2019). The major points will be discussed relating to training and
development initiatives to retain generation Y employees of DBS bank. The training and skill
development initiatives can leads to improve the performance of the team that will lead to
increase in efficiency and effectiveness of the Development Bank of Singapore. This Report
will also discuss the importance of performance management in the Development Bank of
Singapore.

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Performance Management
The Performance of Generation Y depends on the quality of growth and learning
provided by any company. In simple words, Performance can be defined as the achievement
of task or work measures against some standard goals and requirement. It is important to
achieve the goal in defined time constraint. Performance is the basic obligation of an
employee to contribute towards organizational goals and objectives (Gottschalk 2015).
With Changing time the traditional system of measuring performance of employees is
collapsing. As the old system of promotions and compensations are not able to add extra
value to the organization. The changing work styles and data-driven analytical methods led
to introduction of performance management. Performance management is the process of
creating a work system and structure which helps an employee to grow and achieve its goal
with best abilities. It is important that each and every integration with an employee leads to a
new learning occasion. The aim of performance management is to eliminate employee
appraisal and reviews rather than creating a work environment which is full of learning and
growing opportunities (Edwards 2016).
The major components of performance management system include:
 The recruitment process should be well defined and executed.
 Job description helps in selecting the candidate from the pool of individuals. It is
important that job description should be specific.
 Multiple additional meetings should be encouraged to know the strength and
weakness of an employee (Price 2011)
 The orientation of the employee should be taken utmost care to get desired results. A
Mentor should be assigned to new employee to make him comfortable and understand
the culture of the organization.
 On-going education and training is needed
 Quarterly performance planning discussions should be executed
 Effective compensation and reward programs should be designed to motivate the
employees
 Career development programs and opportunities like lateral move transfers should be
incorporated.

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 Exit interviews should be conducted inaccurate manner to understand the points of
improvement.
Performance management provides approaches to plan the specific goals which are
updated quarterly which lead to step for preparing the implementing development plan
(Speelman 2014). Across different sector and industries Technological innovation and digital
transformation created demand for performance management approaches (Wilkinson and
Johnstone 2016). The future is more flexible more development-oriented and data-driven.
The continuous improvement and automated coaching skills are the future of performance
management.
In DBS bank the company has introduced various programs to improve the
performance of the employees. Some of the major programs for learning and development are
Skill Enhancement Education and development program also known as SEED, Business
Analytics Graduate Immersion Programme also referred as BAGIP and various other
structured programs which are designed in taking new techniques into consideration like 24-
month training program, various technological skills, and mentorship (DBS bank 2017a). The
company has recently revamped the selection process which includes online tests and various
portals to chat with the potential employees which leads to right recruitment of the talented
employees.

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Issues with attracting and retaining Generation Y employees
Generation Y can be defined as the individuals who are honest confident and
demanding they have high expectations ( Dwyer and Hopwood 2013). Generation Y has
become a growing concern amongst all executive development providers as the changing
preferences and approaches are required to meet the needs of millennial employees.
Millennial employees are known by many names like Internet generation, Generation next,
Nintendo Generation and the iPod generation. The generation Y refers to the individuals who
are born after 1981. The common features of generation Y is that they are technologically
savvy, interactive, interested in customized learning. The basic education system and learning
style is changed with time to meet the needs of Generation Y (Weinbaumr, Oberholtze and
Girven 2016). This leads to change in workplace learning and development as well. The
Concept like carrot and stick do not work on Generation Y motivation.
DBS bank is facing major issue of high turnover among relationship managers. The
ATM branches have long lines and the credit card application process was considered as
worst customer experience. The company major issues were managed by digitalization and
improving the technical aspect of the company. The aim of DBS bank is to create paperless
and even branchless banking market (DBS bank 2018). The DBS failed in providing the work
environment which promotes work-life balance as well as flexible working methods to
generation Y employees.
To redefine the performance management, deep understanding of Generation Y is
necessary. The generation Y is digital native generation who have high exposure to social
media. Millennial have spent most of the formative years in playing video games and surfing
internet which make them early adopters. Generation Y can be explained as individuals who
seek freedom. The flexible working is the basic need for the generation Y. It is also evident
that Work is not for earning but it is also for spending for social cause. Companies who have
reputation of social responsibility are attractive options for generation Y (Price 2011). DBS
failed in creating a work environment which provides time to generation Y to socialize. The
millennial are bound by strong relationships at work stations. The proper mentoring and
guidance is required to improve the performance as well as to retain generation Y employees.
DBS has not proper employee engagement program as they provide platform to the
employees to speak their grievances.

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The DBS is known for its formal banking system which follows traditional 9-5
mentality. The company needs to engrain flexibility by providing opportunities such as work
from home, and concept of short leave once in a week. The jobs that provide continuous
learning and development guidance are attracted by generation Y ( Scullion and Collings
2011).
In DBS bank the company has tried to implement various digitalization techniques
but the major issue is implementation of the programs The Company has a huge scope in
improving the training methods in order to reach the internet generation. The company is
critically acclaimed for enhancing its good customer service. The company has also
introduced different positions to retain their employees DBS has also awarded as World’s
Best Digital Bank in 2016 and 2018by Euromoney (DBS bank 2017b). Another issue which
faced by DBS bank is branches of DBS. The DBS bank branches are being revamped
according to young generation. The bank has recently introduced “I-Designed-A-Bank”
contest in order to attract Generation Y talent (Pilcher 2010).
Recommendations
Development Bank of Singapore (DBS) is aiming to achieve high retention rate by
transforming training and development initiatives as well as redesigning performance
management. The young generation is prioritizing growth and development opportunities
over top salaries. The following training and development initiatives are:
 Innovative learning spaces
DBS bank should invest in innovative learning spaces which can provide
various online training courses. The DBS bank has introduced DBS academy and
DBS Asia X for achieving the various skill development programs. The company
need to streamline these processes in order to provide various options to select
courses from various options to improve their skills.
 Scholarships
Scholarships are the best way to retain employees as providing scholarships
and grants can lead to the commitment of an employee towards bank. The grants and
scholarships are considered as the tool to retain the right talent in the organization

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itself. This makes staff prepare for the future emerging technologies such as data and
analytics, Automation and designing ( Harzing 2017). Various companies like Apple
and Google grant scholarships to the graduates.
 Mentoring and coaching
The millennial require constant monitoring and guidance. The regular praise
can do wonders for generation Y employees. The greater commitment by manager
motivates the employees to do additional tasks. The mentoring and on-going coaching
lead to constant communication of employees with their higher authorities which
leads to two- way communication in the workplace. The learning initiatives by senior
members by sharing their experience through emails and video conferencing are some
of the best methods to create engagement in DBS bank. The companies like Google
have introduced G2G training method which is a type of training where the employee
work is linked with employer (lotze 2019). G2G stand as Googler to Googler it has
given a new picture to on the job training.
 Immediate feedback
The Immediate feedback is one of the best methods of on the job training. In
this, the young generation feel engaged and they feel involved as their work is being
tracked in real-time basis (Nankervis 2017). This practice has provided desired results
in many organizations. This initiative helps in evaluating the implemented training
and development technique as evaluation is the crucial part in success of any initiative
(Thackwray 2014).
 Game design learning methods
The Generation Y has soft corner for games. The company should introduce
training methods which can be executed through gaming platforms. Gamification in
training and development could completely change the employees look into training
and development initiatives. The fun in games can increase the healthy competition as
well as quick learning in the organization. The company should involve various
ranking methods, team challenges, leader boards, rewards and awards to maximize the
participation engagement and retention of the employees (Lussier 2014). Nintendo is
one of the organizations who have introduced training programs through gaming
which are being used by McDonald’s (Wilson 2010).

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 Collaborative Education Initiatives
To optimize engagement training sessions are planned through group exercises
like brainstorming sessions, simulations and group activities (Neal and Hainlen 2012).
This leads to create strong peer relationships in the organization. Generation Y have
social influence, and if the company provides healthy work relations the Generation Y
employees can be retained. This type of training increases the individual’s
communication, problem-solving and negotiation skills. Companies like Facebook
and Amazon has introduced various interactive programs to enhance employee
engagement (Facebook 2019).
 Artificial intelligence-powered E-learning methods
The Artificial intelligence has launched a new environment in learning and
development (Munro 2014). The cloud-based learning management system is the
methods to provide personalize course recommendations to the employees (Nagy
2018). DBS has to understand the generation Y demand of growth and success in the
changing environment. The DBS is planning to invest towards various programs like
DBS horizon to provide better opportunities to generation Y for future growth (DBS
bank 2017c).

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Reference List
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