OCBC launches $500,000 initiative to upskill employees

Over 800 employees will get a $500 SkillsFuture top-up.

OCBC Bank has unveiled an initiative to help its employees upskill called FutureReady Programme. Overall, the programme will cost the company about $500,000.

According to the bank’s media release, the first component of its programme will see over 800 nonexecutive employees receiving a $500 cash top-up to be used for SkillsFuture Credit eligible courses. The top-up, named FutureReady Credit, will be credited to their bank accounts together with the April 2016 salary. 

The programme aims to address the three main areas where employees want more support regarding the SkillsFuture Credit: more funding to defray the high cost of some training courses, flexibility to attend courses held on office hours during weekdays, as well as guidance in selecting suitable courses.

Beyond the $500 top-up, about 5,000 employees of OCBC Bank and its subsidiaries will be allowed time off to attend selected courses during office hours. In addition, to help employees navigate SkillsFuture Credits’ massive course offering, a specially curated catalogue shortlisting 120 courses has also been prepared.

“As Singapore is one of the top financial hubs in the region, it is crucial for the workforce in the financial sector to remain relevant, resilient and adaptable in order to stay ahead,” said Jason Ho, OCBC Bank’s group human resources head.

“We owe it to our colleagues to make them future-ready in the banking industry and the world at large,” he added.