LinkedIn_DBS Case Study_Nov2015

DBS Bank
HR Digital Transformation Success Story
November 2015
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Corporate Profile
©2015 LinkedIn Corporation. All Rights Reserved. 2
Established in 1968, DBS is a leading financial services group in Asia, with over 250
branches across 17 markets. Headquartered and listed in Singapore, DBS has a
growing presence in the three key Asian axes of growth: Greater China, Southeast Asia
and South Asia.
DBS provides a full range of services in consumer, SME and corporate banking activities
across Asia. As a bank born and bred in Asia, DBS understands the intricacies of doing
business in the region’s most dynamic markets. These market insights and regional
connectivity have helped to drive the bank’s growth as it sets out to be the Asian bank of
choice.
DBS is committed to building lasting relationships with customers, and positively
impacting communities through supporting social enterprises, as it banks the Asian way.
It has also established a SGD 50 million foundation to strengthen its corporate social
responsibility efforts in Singapore and across Asia.
With its extensive network of operations in Asia, DBS employs over 21,000 staff,
representing over 40 nationalities.
DBS has been recognised for its leadership in the region, having been named “Asia’s
Best Bank” by The Banker, a member of the Financial Times group, and “Best Bank in
Asia-Pacific” by Global Finance. The bank has also been named “Safest Bank in Asia”
by Global Finance for six consecutive years from 2009 to 2014.

Digitisation is impacting every industry today
Source: Jo Caudron, Dear Media. Digital Disruption in Finance. http://www.slideshare.net/DearMedia/digital-disruption-in-finance

Four factors are driving change in the financial services sector
BANKS
CUSTOMERS
Preferences are changing
towards mobile and digital.
Wants “any channel,
anytime, anywhere”
banking services
REGULATIONS
Increased compliance
demands better integration
of internal systems to
manage risk data which
often reside in different IT
systems
BIG DATA
Big data allows banks to
unlock the massive amount
of data they own on
spending patterns. Allows
banks for provide more
targeted offerings
NON-BANK COMPETITORS
New competitors leverage
technology to offer
products and services
traditionally provided by
banks (e.g., Paypal, AliPay,
Apple Pay)

Banks slow to embrace digital could be out of business – DBS CEO
5
“The biggest payment
company in the region today
is not a bank; it’s Alipay… If
we don’t embrace digital –
and quickly – there is a real
danger that our lunch will be
eaten.”
“Today, consumers are
spending more of their time
online, on social media, smart
phones and tablets… If banks
are to remain relevant, we
need to better intersect with our
customers’ lives, and alter the
way we deliver banking.”
“Banks like us are already
looking at ways to
combine customer data
with information drawn
from these other sources
to predict customer
behaviour and offer more
targeted offers.”

To stay ahead in an increasingly digital-enabled world, DBS began to
incorporate a digital strategy at the core of its business
6©2015 LinkedIn Corporation. All Rights Reserved.

Instead of seeing digital merely as a communications channel, DBS
re-thought how it could digitise every aspect of its business
7©2015 LinkedIn Corporation. All Rights Reserved.

Change began right from the top, with DBS CEO becoming a social leader
80 % of employees say they would
rather work for a social CEO, and 2
out of 3 customers say that their
perception of the CEO impacts their
perception of the company
Source: The Social CEO: Executives Tell All, Weber Shandwick, 2013

In 2014, DBS announced its S$200 million push for digital transformation
Elevated the role of innovation with new
Chief Innovation Officer appointment
(Mr Neal Cross)
Partnering IBM to offer data-backed
wealth management services
Joint Labs with ASTAR I2R to ideate, test
& commercialise new banking solutions
Adopting mobile strategy to deliver
financial services more effectively

DBS is also seed-funding entrepreneurs to be at the forefront of new
FinTech solutions
Partnership with Nest, a leading Hong Kong start up incubator
Entrepreneurs get to work in ‘The Vault’, a new 5,000 square-foot co-working space in
the heart of Hong Kong (Wan Chai)
Receive mentorship to improve and validate their fintech ideas within 3-4 months
Culminates in Demo Days, where the ideas can receive funding for further
development
About 140 applicants from around the world, 10 startups selected

How did DBS HR embrace digitisation?
HR
Digital Transformation

1. Cultivate a culture of Innovation
Source: Digital Banking in Asia – winning approaches in a new generation of financial services (McKinsey, 2014)

Digital transformation meant instilling a digital mindset among DBS
employees
4 Hackathons 250+ DBS Employees
160+ entrepreneurs
50+ prototypes co-created
…if we wish to remain relevant, our
employees must embrace a culture of
innovation and be intrapreneurs.
- Dave Gledhill, DBS Head of Group
Technology & Operations
As the bank embarks on its digital journey, it
is essential to groom the next generation of
digitally-minded leaders through exposure,
education and experiential learning.
- Lee Yan Hong, DBS Head of Group HR

2. Deepen connections to DBS brand via digital platforms

Formerly perceived to be…
Aspires to be…
• Traditional
• Slow to change
• Local bank with limited
opportunities
• Poorer career prospects
compared to foreign banks
• An innovative, digital culture
• Fun work environment
• Top Asian bank with overseas
opportunities
• Competitive employer of
choice for the best talent
Changing the perception of DBS Bank is an ongoing endeavour

It started with a clear notion of the DBS Story…
Source: DBS unveils new brand campaign that celebrates its past, its future and its ability to create impact beyond banking.
https://www.dbs.com/newsroom/DBS_unveils_new_brand_campaign

…and a paradigm shift in DBS’ approach to branding
Applies not only to consumers,
but also how talent perceive
the DBS brand
One-way Two-way, targeted, engaging
Source: DBS unveils new brand campaign that celebrates its past, its future and its ability to create impact beyond banking.
https://www.dbs.com/newsroom/DBS_unveils_new_brand_campaign

Telling the DBS Story on LinkedIn to connect more deeply with desired talent
Has its roots in Singapore
An Asian Bank
with Asian insights
Has offices across Asia
A fun & localised work culture

How their work is realising
the dreams of entrepreneurs
Telling stories of how
individual employees are
helping others daily
How their work is creating
social impact

Preferential rates for financial services
About why it is great to be a DBS employeeAbout why it is great to be a DBS employee
Experiential learning & mentorship
Overseas exposure
Professional learning
Groom future leaders

3. Automate recruitment processes for greater efficiency

DBS embraced social recruitment on LinkedIn
Talent Acquisition team leading as DBS brand ambassadors
All-Star LinkedIn profiles
Professional photos with DBS Logo
DBS Bank
Theresa Phua

Awareness of DBS as
an employer
Engaged with
DBS as an
employer of
choice
Leveraging LinkedIn to automate and scale recruitment efforts
Hired!
Job Candidate
Decision Making Process Ads and job posts automatically target relevant
passive candidates on LinkedIn to enhance their
awareness of DBS as an employer and drives traffic
to DBS’ LinkedIn page
Jobs You May be
Interested In
AVP, UX Design
DBS Bank
Action

Awareness of DBS as
an employer
Engaged with
DBS as an
employer of
choice
Hired!
Job Candidate
Decision Making Process
Action
DBS uses regular company updates and rich media
posted on LinkedIn to engage prospective candidates
Greater longevity of content on the network
Viral content gets shared with more candidates
Helps to influence candidates even before recruiters
contact them
Youtube Video
Company Updates posted

Awareness of DBS as
an employer
Engaged with
DBS as an
employer of
choice
Hired!
Job Candidate
Decision Making Process
Action
DBS Recruiters automatically retrieve new candidates
that match Saved Searches
Expand list of potential candidates with tools like
‘Similar Profiles’ and ‘Profiles others viewed’
Send messages to large number of candidates in a
personalized, yet efficient, manner using InMail
templates.

4. Make strategic decisions using insights from big data

E.g., DBS obtained clearer insights into the banking talent landscape in one
of their key markets, Taiwan, using big data from LinkedIn.
Leveraging big data enabled DBS to make more
informed, data-driven HR decisions.

Outcomes on LinkedIn
30

Outcomes
1. Number 1 brand in Singapore with the
highest level of engagement with its
audience
2. Established the largest talent
community of 150,000+ followers on
LinkedIn Number 1 amongst
Singapore companies
3. Number 1 Talent Brand of Choice in the
banking and finance sector
(benchmarked against peers like Citi,
HSBC, Standard Chartered, OCBC,
UOB, etc.)
4. A highly effective DBS Talent
Acquisition organisation with enhanced
sourcing capability & process efficiency

34
With digital transformation and an effective social
recruitment strategy, DBS achieved significant recruitment
cost savings in 2014, and has successfully re-positioned
itself as a top employer amongst Asian banks.
DBS Bank: Successfully transformed itself into an attractive
Employer of Choice

LinkedIn_DBS Case Study_Nov2015

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