About the Research€¦ · Background About the Research Gender HKIB member? Base: Excluding...

AbouttheResearch

BuildingCapacityforFutureGrowthAreportbyTheHongKongIns>tuteofBankerstounderstandthecurrenttalentdevelopmentlandscapeinthebankingindustryinHongKong

1

AbouttheResearch

DearMembers,TheHongKongIns6tuteofBankers(HKIB)conductedtheTalentDevelopmentSurvey2016withanobjec6veofunderstandingthetrainingneedsofbankingprac66onersinHongKong.Wearepleasedtoseetrainingdemandrisinginthelocalbankingindustryandtheneedhasemergedforacommonqualifica6onbenchmark.MarketrequirementsarebecomingmorecomplexandtheHKIBhaveacrucialroleindevelopingtheproductsforasustainableindustry.Asarenownedinterna6onalfinancialcentreinAsia,HongKongiswell-posi6onedtoseizegrowthopportuni6esbyservicingcustomersandcorporatesintheregionwhoconsequentlyhaveincreasingdemandsonprofessionalbankingandfinancialservices.Wemustcon6nuetoraisetheindustry’sprofessionalstandards,andweshoulddosobyenhancingthecapacityofourpeople.WeplantolaunchthenewCer6fiedBanker(CB)qualifica6oninJanuary2017whichwillfurthersupportthecapacitybuildingandtalentdevelopmentforthelocalbankingandfinancialservicesindustry.Thethree-stageCBprogrammeissuitableforcurrentbankingandfinancialprac66onersaswellasyounggraduateswhowishtobuildastrongerprofessionalfounda6onanddeepentheirbankingindustryknowledge.Moreprogrammedetailswillbeavailablethroughourregularcommunica6onschannels.Pleasestaytuned.Thesustainablegrowthofthebankingindustryreliesonpeopleandtalentdevelopmentisoneofthekeypriori6esforindustry.IstronglybelievethattheHKIBhasastrategicroletoplayinsuppor6ngsuchanimportantindustryini6a6ve.Wewillusethesesurveyfindingstoshapeourstrategiesandpriori6esinthefuture,toensurethatwecon6nuetoperformourroleinenhancingthecompetencyofthebankingprac66oners.MycolleaguesandIlookforwardtoyourongoingsupport.CarrieLeungChiefExecu>veOfficerofTheHongKongIns>tuteofBankers

AbouttheRespondentsFindingsataGlanceMessagefromCEO

2

AbouttheResearch

Thefindingsofthissurveycanbedividedintotwokeyareas:

•  A[rac6venessofBankingasaprofession•  Traininganddevelopmentlandscape

AbouttheRespondentsFindingsataGlanceAbouttheResearch

3

Datacollec>on

between13Apr–2Jun20167weeks

Onlinesurvey

Completedques>onnaires

507Employeesandrepresenta>vesfrom•  Banks•  Non-bankfinancialins6tu6ons(FIs)•  Regulators•  Independenttrainingserviceproviders•  Professionalbodies/ins6tutes•  Academia(includinguniversitystudents)•  HKIBcorporatemembers

Individualmembers,corporatemembersand

non-members

Format Time&Dura>on

Targets Response

AbouttheResearchAbouttheRespondentsFindingsataGlanceAbouttheResearch

4

Gender

BackgroundBank employees

Employees of professional bodies / ins!tutes

Training professionals (non in-house)

Employees of financial ins!tu!ons (non banks)

Academics or university students

Professionals on reguators’ side

Male60%

Female40%

Base: Excluding refusal 462

Base: Excluding HKIC corporate member459

Age

18-34

35-49

50-64

Base: Excluding refusal 449Ref: S1, S2a, S2b ,E1 ,E2 ,E7

HKIBMembers?

No53%

Yes47%

Base: All respondents 507

Individual 38%

Corporate 9%

About the Respondents P.5

Mean:43

Gender

BackgroundBank employees

Employees of professional bodies / ins!tutes

Training professionals (non in-house)

Employees of financial ins!tu!ons (non banks)

Academics or university students

Professionals on reguators’ side

Male60%

Female40%

Base: Excluding refusal 462

Base: Excluding HKIC corporate member459

Age

18-34

35-49

50-64

Base: Excluding refusal 449Ref: S1, S2a, S2b ,E1 ,E2 ,E7

HKIBMembers?

No53%

Yes47%

Base: All respondents 507

Individual 38%

Corporate 9%

About the Respondents P.5

Mean:43

Gender

BackgroundBank employees

Employees of professional bodies / ins!tutes

Training professionals (non in-house)

Employees of financial ins!tu!ons (non banks)

Academics or university students

Professionals on reguators’ side

Male60%

Female40%

Base: Excluding refusal 462

Base: Excluding HKIC corporate member459

Age

18-34

35-49

50-64

Base: Excluding refusal 449Ref: S1, S2a, S2b ,E1 ,E2 ,E7

HKIBMembers?

No53%

Yes47%

Base: All respondents 507

Individual 38%

Corporate 9%

About the Respondents P.5

Mean:43

Background

AbouttheResearch

Gender

HKIBmember?

Base:Excludingrefusal462

Ref:S1,S2a,S2b,E1,E2,E7

Base:ExcludingHKICcorporatemember459

64%

8%

7%

7%

5%4%

AbouttheRespondentsFindingsataGlanceAbouttheResearch

Base:Allrespondents507

5

Frontliners

No69%

Yes31%Years of

experiencein Banking /

FinancialIndustry

Less than 1032%

10-2032%

20+36%

Business DivisionsRisk and Compliance

Human Resources / Training

Wealth management

Retail Banking

Commerical / corporate banking

Finance and treasury

IT

Management

Audit/ Internal Audit

Opera!on

Base: Banking and FI employee 328

Base: Banking, FI employee and banking regulator 347

Base: Banking and FI employee (where applicable) 288

Seniority

Senior management21%

Supervisor /middle management

53%

Banking officer26%

Base: Banking, FI employee and banking regulator 347

About the Respondents P.6

Average Yearsof Experience: 13.7

AbouttheRespondents

Businessdivisions

Base:Banking,FIemployee(whereapplicable)288

19%

12%12%

12%

12%9%

7%

3%

5%3%

Frontliners

Seniority

Base:Banking,FIemployee328

Base:Banking,FIemployeeandbankingregulator347

Base:Banking,FIemployeeandbankingregulator347 Ref:E3,E4,E5,E6

FindingsataGlanceAbouttheResearch

6

Findingsataglance

Resultshighlights

7

FindingsataGlance

>60%ofrespondentsagreethat

2/3ofrespondents

thinktalentreten>onisthemostchallengingmanpowerissue.

60%ofrespondentsconsiderthatthebankingindustryis

appealingtoyoungtalent.Yet,thoseaged18-34arelesslikelytothinkso(51%).

Risk&Compliance(34%)andWealthManagement(17%)areperceivedasthe

2 /32 /3

8

2 /32 /3

Part1:CareerDevelopmentOutlook

businessdivisionsinthecontextofcareerdevelopment.

mostaarac>ve

2 /32 /32 /32 /3

similartolegaloraccoun6ngservices.

Bankingisaprofession

FindingsataGlanceFindingsataGlance

FindingsataGlance

Commonqualifica>onbenchmarkforthebankingandfinancialservicesindustryiswelcomedbyanoverwhelmingpercentageofrespondents(77%).

88%ofrespondentsrecognisetheneedfortraininganditsposi>veimpactstrengtheningmarkettrust.

Jobrelevance,careeradvancementandregulatoryrequirementsarethe

Trainingdemandisexpectedto

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Inthepastyear,respondentsreceivedtraininginRisk&Compliance(67%),Rolespecificsubjects(50%).Onlyaround20%havereceivedtrainingonFintech&Cybersecurity,IndustryValue&Ethics,RMB&Chinaini>a>ves.

Findings at a glance P.8

67%

50%

82%

77%

Findings at a glance P.8

67%

50%

82%

77%

Part2:Training&DevelopmentLandscape

Top3 factorsconsideredbyemployeesduringthetrainingselec6onprocess.

grow (82%)andexternaltrainingprovidersareexpectedtoplayabiggerrole(72%).

most

Findings at a glance P.8

67%

82%

77%

20%

Findings at a glance P.8

67%82%

77%

20%

Findings at a glance P.8

67%82%

77%

20%

FindingsataGlanceFindingsataGlance

KeyResponsesoftheLessExperiencedPrac66oners

Allrespondents 10yrsofexperienceorless

Agreementthatbankingisaprofession?

Inten>ontoremaininbankingindustryfornext5years?

Agreementthatprofessionaltraininghelpstrengthenmarkettrust?

66%

77%

88%

61%

73%

82%

2 /32 /32 /32 /3

10

CareerOutlookfortheBankingIndustry

LookingintotheNumbersPart1

11

19

4

35

42

Morethan75%say‘Remain’

%

%ofStronglyagree/Agree

WillyouremainintheBankingindustryforthenext5years?

Base:Bankingemployee294Ref:B3a,B3b,B3c

Stronglyagree

Agree

Neutral

Disagree/Stronglydisagree

Findings at a glance P.9

HKIB Member

!

72%

BankEmployee2020

Findings at a glance P.9

HKIB Member

!

72%

BankEmployee2020

77

12

19

4

35

42

ReasonsforStaying

Compensa>on

Careeradvancement

Jobsa>sfac>on

Yearsofexperience10orless 10-20 20+

31 47 55

Base:Thosewhoarelikelytoretain225

63%

60%

45%

63 65 60

62 54 62

Base:Bankingemployee294Ref:B3a,B3b,B3c

Stronglyagree

Agree

WillyouremainintheBankingindustryforthenext5years?

Neutral

Disagree/Stronglydisagree

%

13

2/3seebankingasaprofession

20

14

41

25

%

Base:Allrespondents507Ref:A2

66%ofStronglyagree/Agree

Stronglyagree

Agree

Neutral

Disagree/Stronglydisagree

Trainingprofessional(nonin-house)

74%

Noncustomer-facingemployees

69%

10yrsofexperienceor

less

Customer-facingemployees

39%

Moreagreedwithin

Lessagreedwithin

39%

14

Bankingisappealingtoyoungtalent

60%ofrespondentsconsiderthattheBankingindustryisappealingtoyoungtalent.Yet,thoseaged18-34arelesslikelytothinkso(51%).

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Training&DevelopmentLandscape

LookingintotheNumbersPart2

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COMMONQUALIFICATIONBENCHMARK

77%oftherespondentsagreedtothestatement“Acommonbenchmark/qualificaUontomeasurethecompetenceofanindividualhelpstoraisebankingpracUUoners'professionalstatus”

Over50%ofHR/trainingstaffandHKIBcorporatemembersthinkthatitisdifficulttocomparedifferentqualifica6onsintherecruitmentprocess

4Base:Allrespondents507

Ref:A6,A12

Posi>veaboutcommonqualifica6onbenchmark

27

51194

27

51

194

Seniormanagement

20+yearsofexperience

10yearsofexperienceorless

29

2422

5

194

51

26Stronglyagree

Agree

Neutral Disagree/

Stronglydisagree

Seniormanagement

83%

20+yrsofexperience

83%

Bankingofficer 29%

10yrsofexperienceor

less31%

Moreagreedwithin

Lessagreedwithin

17

COMMONQUALIFICATIONBENCHMARKProfessionaltraininghelps

102

48

40

%

Base:Allrespondents507

Base:110111 126

Ref:A4

Professionaltraininghelpsstrengthenmarkettrust?

88%ofStronglyagree/

Agree

Stronglyagree

Agree

Neutral Disagree/

Stronglydisagree

Yrsofexperience 82% 89% 90%

10orless 10–20 20+

18

Keyfactorsconsideredbyemployeesintrainingselec>onprocess

Ref:A10,A16

Selec>onfactors(Employees)

Relevancetoyourjob

Impactoncareeradvancement

Regulatoryrequirements

Impo

rtan

ceLevel

Reputa6onoftrainingprovider

Qualifica6onoftrainers

81%

54%

46%

28%

25%

24%

Base:BankingandFIemployee328

Fee

Findings at a glance P.8

67%

82%

77%

20%

19

Relevancetotheemployees’job

Qualifica>onoftrainers

Regulatoryrequirements

Reputa6onoftrainingprovider

Impactoncareeradvancementofemployees

Base:HKIBcorporatemember48

Fee

85%

58%

46%

42%

35%

15%

Keyfactorsevaluatedbytrainingprogrammeselectors

Selec>onfactors(HRmangers/Employers)

Impo

rtan

ceLevel

Ref:A10,A16

20

Risk&Compliancetopstheexternaltraininglist

Top5externaltrainingsubjectsinthepast12months

Risk&compliance

Rolespecificsubjects

FintechandCybersecurity

Industryvalue,cultureandethics

RMBandChinaini6a6ves

Base:BankingandFIemployeewhoreceivedexternaltraining273

67%

50%

22%

21%

20%

Ref:A7,A9

21

TrainingDemandontherise

153

45

37

%ofStronglyagree/Agree 82

Base:BankingandFIemployeesorHKIBcorporatemembers376Ref:A14,A15

%

Demandfortrainingexpectedtogrow

Stronglyagree

Agree

Neutral

Disagree/Stronglydisagree

22

Shapingstrategiesandpriori>es

Movingahead

23

Insights

•  Capacitybuildingandtalentdevelopmenthasbecomeoneofthekeypriori>esfortheindustryandtheHKIBhasastrategicroletoplayinsuppor6ngsuchanimportantindustryini6a6ve.

•  Thereisaneedtoraisestandardsofthebankingprofessionbyequipping

prac66onerswiththeskillsetsthattheyneedfortomorrow.

•  Commonqualifica>onbenchmarkisneeded.Thereisaneedtoalignasetofcompetencystandardsthatbankingprofessionalsshouldstrivetomeetinordertothriveintoday’sdynamicbankingenvironment.

•  Talentlandscapeintheindustryisalsochanging-Weneedtofindaneffec6vewaytoengagetheyoungergenera>onandaaractyoungjoiners.

•  HKIBseestheopportunitytoreposi>onitself.

24

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AboutthesurveyCommissionedbytheHongKongIns6tuteofBankers(HKIB),theHKIB’sTalentDevelopmentSurveywasanonlineques6onnaireconductedbetweenAprilandJune2016byCimigoandParadigmConsul6ng.Morethan500responseswerecollectedwith64percentfrombankemployees,8percentfromemployeesofprofessionalbodies/ins6tutes,7percentfromtrainingprofessionals,7percentfromemployeesofnon-bankfinancialins6tu6ons,5percentfromacademics/universitystudents,and4percentfromprofessionalsonregulators’side.FindingsofthistalentdevelopmentsurveywillbeusedbyHKIBasareferencepointwhenshapingthefutureoftraininganddevelopmentforthebankingsector.