Malaysian Bank CIMB launches future of work centre
Malaysian Bank CIMB Group Holdings Bhd has launched its Future of Work Centre (FOWC) to prepare its employees for a highly digitalized environment as it targets to have at least 15% of them equipped with digital skills by 2023.
As per the banking group, FOWC will equip CIMB’s workforce with essential skills and opportunities to apply them directly, in preparation for a future that will see them work alongside technology such as AI, robotics and data analytics.
FOWC is the platform to enable its workforce who have been upskilled/reskilled into their new roles in order for them to fully reap the benefits of their training. This follows an earlier announcement on Forward23, which is CIMB’s five-year transformation plan that also includes the group’s RM2 Bn investment in technology and data infrastructure.
Group CEO of CIMB Group, Tengku Datuk Seri Zafrul Aziz stated, “CIMB’s Forward23 goal to future-proof the Group requires a strong digital workforce and high operational agility. Our people – our most valuable asset – are key to achieving that goal. Future of Work Centre is part of CIMB’s RM75 Mn investment to equip them with the skills to support CIMB’s effort in reaping opportunities in a data-driven, tech-enabled world. By 2023, our aim is to have at least 15% of our workforce equipped with digital skills.”
The initiative was kick-started in May 2018 with training by the 3D (Data, Digital, Disruption) Academy. The modules offered under the academy are tailored to cater to various competencies, from zero knowledge of the digital world to certification level, and offered in region’s local languages. Till date, more than 15,000 employees across the region have benefited from these trainings.
The push comes as CIMB believes that leadership in the digital world requires skills such as empathy, collaboration, and agility to successfully navigate new business models, and unconventional modes of employment. Thus to supplement the technical training offered by the 3D Academy, the group has also fine-tuned its existing culture and high potential employee leadership programmes at all levels to align with future demands. It now includes digital work experience within and outside the group, as well as networking opportunities with business leaders outside the banking industry.
Employees who have undergone classroom training will be able to apply their new skills and be mobilized into new roles through various programmes and initiatives under Forward 23. In addition to existing mobility policies, employees will also have the opportunity to participate in “internal internships”. These will be project-based or temporary placements that may lead to different career options.