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Our approach and progress

2009 Goals Status Achievements
Drive performance in turbulent times through greater levels of engagement. Ongoing
  • Our overall engagement increased with significant increases in Korea, Taiwan and Thailand. Hong Kong maintained an engagement score at a level comparable to that of organisations with world class engagement scores.
Build the effectiveness of our leaders. Ongoing
  • Managers are now able to review and reopen employees performance objectives online throughout the year; enabling ongoing review of progress, and ensuring clarity of expectations for our employees.
  • For senior leaders, we implemented a robust framework for linking values and reward, so our leaders are more clearly rewarded for what they achieve and how they achieve it.
  • Our strong leadership was further demonstrated with 68 per cent of our senior level appointments being filled with internal candidates.
  • Our talent pools gain consistently higher end of year performance ratings than their peers and have consistently lower attrition.
  • 25 per cent (70) of our International Graduates moved into cross border roles.
  • External recognition for HR leadership including Gallup Great Place To Work 2009 (Hong Kong, Kenya, Korea and Thailand); Hewitt Best Employer 2009 (Korea); HR Leadership Award Asia-Pan Pacific HRM Conference (India).
Further embed our values and culture. Ongoing
  • We refreshed our values objectives process to better reward our employees who live our values every day.
  • It is clear that our employees understand our unique culture and values with 80 per cent of them agreeing to the statement “I know what SCB stands for, and what makes our brand different from our competitors”, in our latest engagement survey.
All existing employees to renew their education on HIV and AIDS by taking the revised eLearning course. Completed
  • With 96 per cent of all staff, including 98 per cent of new joiners, having passed their HIV e-learning, we focussed this year on achieving our CGI HIV and AIDS education pledge to educate 1 million people by 2010. This pledge is being carried out by 1,150 Standard Chartered Champions, across 50 countries, who between them have engaged over 50 external partners.

2010 priorities

  • Drive performance through continued focus on engagement and retention.
  • Develop deeper leadership pipelines by ensuring delivery of personal development plans, mentoring and networking for our high performing talent.
  • Build depth in local talent pools especially in key, high growth markets.
  • Use the new brand positioning for the Bank and the Customer Charter to further embed our differentiated culture and values.

A workforce is more than a group of individuals; it is what brings an organisation to life. Operating in 71 markets and representing 125 nationalities, our employees immediately demonstrate our diverse nature.

Seven years ago we articulated five values: International, Courageous, Responsive, Creative and Trustworthy. These are the values that we live by. They are what stand us apart from our competitors and create a culture that truly makes Standard Chartered a great place to work.

From Peter Sands, our Group Chief Executive, to the most junior people in our branches, we ask our staff to live our values. Our senior managers lead by example. They bring our values to life every day in the way that they treat their employees, interact with customers and become involved in their local communities.

We strive to ensure every employee is very clear on what we expect of them. In a new development this year, objectives are now online, making them easily accessible to each employee and their manager. This will help raise the bar on performance and place it at the heart of our business. We expect every employee to perform strongly from a business point of view, and to do so in a way that is consistent with our values. Decisions on performance related remuneration are determined based on what people achieve as well as how it is achieved.

At its best our culture fosters loyalty and creates an environment in which our employees thrive, which is fundamental to sustained high performance.

Our reward structures inevitably play a role in creating sustainable performance. We remain committed to paying for performance and, as always, aim to align our remuneration policy with regulatory requirements and best practice while ensuring that reward is appropriate and competitive. These policies support and drive our business strategy and help reinforce our values.

We are determined to create a working environment that respects our employees as individuals but which also creates opportunities for them to develop on both a personal and professional level. We provide them with unique experiences, gaining international exposure across a variety of continents and cultures.

We are constantly adapting to our changing environment and learning from our experiences. Even before the World Health Organisation escalated this year's outbreak of the swine flu virus to a pandemic status, we had activated our Group Pandemic Committee, which drew on lessons learned in Asia during the Avian flu outbreak, and managed our global response.

We have an illustrious history and an enviable future operating in markets, such as Asia, Africa and the Middle East, where the pace of change and development is unprecedented.

Building a sustainable business is critical. Our success will depend on the efforts of our employees. It is vital that our culture engenders loyalty and creates an environment in which our employees thrive.

Report tools

Annual Report and Accounts 2009