Talent Development Program
Cathay Financial Holdings Co., Ltd
Cathay strongly believes that the company’s growth is positively correlated with employee distributions. Thus, Cathay actively encourages employees to achieve work-life balance from regular physical examination to activities supporting health and wellbeing.
INTRODUCTION
Facing the pace of digital transformation impacting all business functions, Cathay has realized that talent is the most important core competitiveness. Cathay has advantages on group resources from its subsidiaries and the 50-year-old brand to recruit and engage top talent. Cathay implemented Talent Development Program to develop interdisciplinary and sustainability-thinking talent in fulfilling the goal of becoming one of the leading financial institutions in the Asia-Pacific region. With strong belief in corporate sustainability, Cathay not only helps its employees adapt to changes in a rapidly changing business environment, but also increases implementation of sustainability into the business core functions.
FRAMEWORK AND STRATEGY
Aiming to become one of the leading financial institutions in the Asia-Pacific region, Cathay developed a talent program combining with the company’s three major growth engines of insurance, banking, and asset management to elevate employee competency, transform talent acquisition, and cultivate sustainable talents. It required not only competency elevation but also organizational structure adjustment to change work environment, to promote interdisciplinary solutions, and to build customer-centric company culture. Cathay engaged ahead of time the top young talents in innovative ways including internship program, industry-university cooperative research project, and competitions. Moreover, as of 2017, Cathay has established operational offices in 9 out of 10 ASEAN nations. The group’s resources are leveraged to expand across Asia. It includes internationalization of talent pool and support international operations. Cathay enhances the development of talents in innovative ways such as ASEAN Market Talent Training Program, Vietnam Students Insurance Experience Camp, and Cathay United Bank’s CMA Asian Banker Program.On top of that, Cathay strongly believes that the company’s growth is positively correlated with employee distributions. Thus, Cathay actively encourages employees to achieve work-life balance from regular physical examination to activities supporting health and wellbeing such as Walking321, Cathay Run, and Weight-Loss Contest, which was held in 2015. Cathay also promoted the Maternity Healthcare Protection Program for female employees. Baby gifts, mother-care courses, and parent-child interaction courses are organized in accordance with requirements.
ACHIEVEMENT AND IMPACT
Cathay has achieved a leading position in the market. To fulfil corporate sustainability, Cathay has regarded talent as the core competency. Cathay established comprehensive training programs according to career and personal developmental requirements of employees. Cathay is the world’s first CFP® Corporate Training Institution. Cathay Life brought together external experts and scholars with the company’s internal lectures team to formulate a comprehensive CFP® Talent Cultivation Program. As of today, about 600 employees have passed the examination (including CFP® and AFP). Cathay Life is currently the financial institute with the most international Certified Financial Planners (CFP®) in Taiwan.Besides, Cathay United Bank (CUB) has been dedicated to cultivating talent. In 2017, CUB is the only ATD (The Association for Talent Development) Best Award winner, which is the talent development industry’s most rigorous recognition. CUB received the recognition for Agile L.A.S.T program focusing on creating a customer-centric value and elevating employee skills. It contains four aspects, including Leadership, Appraisal, Structure, and Training. In addition, 40% of all the employees are now made up of Millennials, as known as Generation Y. CUB implemented the social learning in talent management to provide employees accesses to learning whenever and wherever they need to.
FUTURE DIRECTION
Cathay believes sustainability is to create long-term value for stakeholders. One of Cathay’s stakeholders is employee. Cathay views employees as the most valuable asset. We recognize the company growth is correlated with the dedication and performance of employees. Facing the drastic changes in the economy and the political and social environment, Cathay needs to adopt new ways of engaging talent. Besides, with overseas operational offices, Cathay has valued diversity in the organization and cultivate the capacity to provide services in multiple markets to achieve the aim of becoming one of the leading financial institutions in the Asia Pacific region. Cathay has been recognized by the government, media, and world’s famous ESG rating institutions as a sustainable corporate since Cathay Corporate Sustainability Committee’s establishment in 2011. Cathay will continue to make commitment to Corporate Sustainability and operate in an environmentally, socially, and economically sustainable manner.
Cathay Financial Holdings is the pioneer among its fellows in practicing corporate sustainability with its core competence. Cathay has dedicated to internalizing the concept of corporate sustainability within its company culture. Cathay is leading its peer in finding the balance between profit gaining and caring for our society and environment and prospering with the world.
