In an endeavor to prepay their workforce for a digital future, United Overseas Bank has launched a new learning and development program. To begin progressively across the group, the 12-week foundation course known as "Better U" will focus on five core competences that the bank found essential for employees to remain relevant.

It expects that by the end of 2020, at least 70 percent of all its employees globally will have completed the course.

Some of the areas the learning program will focus on include developing a growth mindset, developing complex problem solving skills, acquiring skills in the fields of digital innovation, human-centred design and data. These skills will be imparted through games or interactive team-based formats.  

UOB is designing the modules in interactive-based formats to give a more engaging learning experience. Further, it has tried to keep almost all the modules in a digital format so that employees can learn conveniently. 

In addition to the foundation course, UOB has also created a learning path for their employees to help them pursue specialized learning tracks or educational opportunities that are aligned with their capabilities and interests. 

Besides developing behavioral competencies, the bank has created two progression pathways in the areas of data management and project management, and will expand the range of specialised learning tracks over the next three years.

Dean Tong, Head of Group Human Resources, UOB shared, "The Better U program is part of our long-term approach as we nurture our talent and empower them to take control of their future."

The global banking industry is going through a lot of changes with increasing digital adoption. The competition has also been fierce for banks with more fintech startups emerging across the globe. Additionally, the entire banking sector is also struggling to manage costs, resulting in job cuts. About 60,000 jobs have been estimated to be shed in banks. As the banking sector goes through this new phase, it is important for companies and workforce in the sector to prepare the human capital for such tough times. Behaviorial competencies like growth mindset and problem solving skills hence become all the more crucial. But even they won't suffice without the right business acumen and knowledge of the new domain skills necessary for the present challenges and future disruptions. 

A program like BetterU that covers soft skills as well as digital and data skills could indeed help UOB better prepare their workforce for the future of work.