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Work Force Composition

GRI 401-1

FY 17-18 FY18-19 Trend
Total Headcount* 368 402

GRI 405-1

  Gender Profile
  Male: 50 %
  Female: 50%
  *Rounded off to the nearest whole number

GRI 102-8

Types of Contract* FY 17-18 FY18-19 Trend
Contractual Long Term 30 21
Contractual Short Term 18 17
Part Time 1 1
Permanent 319 373

*Bank Employees only

Diversity in the workforce bringing innovation across the business and new ideas that challenge the status quo. It is also a means to increases happiness at work by working with individuals that celebrate being unique and share a different perspective.

Our employees are one of the most valuable stakeholders for the Bank. They play a key role in service innovation and value creation. AfrAsia continues to take positive steps towards becoming the “Employer of Choice”.

We believe that communication flow between management and employees is key to maintain and enhance Employee eXperience (EX). The spirit of such exchanges has been supported by specific actions during the year. Initiatives include enhanced use of internal communication function to share specific information with employees, a revamped induction programme covering both indoor and outdoor activities, people first meetings, regular catch ups with Heads of Departments (HoDs) by HR, engagement survey, pulse check surveys, the setting up of the A-Team to take forward actions from survey results. Training in soft skills has been an absolute success carrying recommendations provided by our employees. In order to strengthen employee engagement, awareness sessions on organisation values have been carried out across the Bank. Recognition is also key, we have been celebrating our people through instant rewards, press articles and on social media sites.

In addition, various initiatives have been implemented such as:

  • Regular People First meetings are carried by the Head of HR whereby staff can express themselves and actions are put in place based on feedback received.
  • Frequent Townhall events have been organised to share the Bank's performance & strategy.

Our Objectives

Our focus for the coming years is to clearly identify our Talent Pool and to put in place development & succession plans in a more structured and transparent manner therefore providing the basis for a sustainable future whilst optimising ABL’s people potential within the organization.


The goal of AfrAsia is to achieve excellence in customer service, which goes hand in hand with the type of talent being recruited by the Bank. A robust recruitment process, in line with the resourcing policy and the local legislation is in place allowing the Bank to find the right profile for each job.

FY 18-19 recruitment’s strategy has been largely focused on the reinforcement on the support functions which in turn enhance the workflows. Additional human resources have been brought in for several reasons:

  1. To address regulatory requirements (e.g. in compliance department)
  2. To provide support to customer facing employees
  3. To cater for future strategical needs and business development

In light with its strategy to attract top talents, we offer various financial and non-financial benefits:

  1. Competitive remuneration packages
  2. Healthy work life balance through flexible working schedule, work from home, flexible contract types
  3. Housing loan 
  4. Revamp of our car and personal loans for employees          GRI 401-2

Additionally, the brand of the organization is one of the main factors which attracts both new candidates and ex-employees. The Bank is looked upon as one of the most innovative and growing banks in the country, where there is a positive environment for learning, personal and professional growth. We have been awarded EMEA Finance’s African Banking Awards in 2018 as being the Most Innovative Bank Pan-Africa.


AfrAsia Bank is committed to investing in its people. Through constant skills development, a strong and high performing workforce is built, which ensures the Bank’s success in the long term. We offer various types of training to its workforce which caters for development of soft and technical skills. These include: induction, workshops, conferences, online courses and many more.

Induction and onboarding newcomers

This year, emphasis was put on revamping the induction sessions in order to inspire new AfrAsians. The induction sessions introduce the newcomers to experiential learning experiences in relation to the Bank’s history, culture and values. This is conducted regularly with the participation and support of the management teams. In addition, new colleagues also have a designated buddy in their department to ease their integration.



  FY 17-18 FY18-19 Trend
Total Headcount* 368 402
Total Headcount* 368 402
Total Headcount* 368 402
Total Headcount* 368 402
Total Headcount* 368 402
Total Headcount* 368 402

GRI 404-1

Includes Bank employees only 

Compared to last year, there was an increase of 9,000 hours in training hours. We teamed with Dale Carnegie for soft skills training. We made use of our internal talent through sessions with Subject Matter Experts as well as revamping our Induction programme and providing over 400 employees with Values Alignment workshops. A learning platform was also implemented during the year which contributed to the increase in training hours. The learning platform is available online on our HCM system and is accessible to all employees.
Gender equality is of upmost importance in the development strategy of AfrAsia Bank whereby an increase of 14 hours has been noted in the average hours of training per female employees. ABL’s female staff are inspired and empowered to attend high level leadership training (KIP Women Leadership Programme) in order to become innovative and disruptive leaders.

Career development and performance appraisals

Through Oracle, the Bank’s bi-yearly performance management system has been revamped. All employees have to go through an appraisal twice a year during which performance and training needs are discussed with their line managers.

GRI 404-3


Employees leave the Bank for a variety of reasons such as further studies, better salary or benefits or perhaps embarking on new projects. However, in recent years, it has been noted that many choose to come back, stating that they enjoy the healthy working environment, as well as the positive team spirit and their deep belief in the Bank’s DARE values as the motivation for their decision to return. Last year, 4 ex-employees were recruited by the Bank.

Many employees have stated that they enjoy the teamwork and leadership style whereby people work together to achieve results. They also appreciate the presence of leaders rather than managers, guiding employees to be independent so they can enhance their performance, and in turn be rewarded accordingly. The Bank has supported a number of employees in their career & professional development while promoting opportunities to learn in line with their individual career aspirations.

  FY 17-18 FY18-19 Trend
Turnover Rate (Full Time Employee*) 9.48% 8.97%

GRI 401-1

Employees, who were re-hired, have observed the positive changes made to improve the levels of engagement, such as the enhancement in the benefits being offered, the initiatives from senior management to get closer to people, the setting up of the A-Team that focuses on engagement drivers. All of these actions enhance the workplace environment by encouraging communication across the business. In addition, employees positively perceive the implementation of automation which has decreased manual work and hence increased satisfaction as well as efficiency and performance.

Internal Promotions

GRI 404-2

Training and development plays a key role in the performance and career growth of AfrAsians. High performers are given the opportunities to take more responsibilities. 33 high performers were promoted across the business. We provided appropriate support (training needs and development) in order to ensure a smooth transition to this role.

Extra Support
The Bank’s strategy is also to support its staff even in cases of underperformance. Our employees are given concrete training (on the job or through off-site programs) and are constantly coached and monitored until the performance is on track.
Benefits and Work-Life Balance

GRI 401-2

In addition to the various financial and non-financial benefits mentioned in the beginning of the chapter, we also provide the following in order to support work-life balance:

  1. Contribution to wellness activities like yoga, Zumba and gymnasium have been on the agenda throughout the year.
  2. A decrease in overtime has been observed and we believe some will continue to be the case as per the latest trend analysis.
  3. Specific departments have also been promoting time off in lieu policy to allow employees working late hours so as they can enjoy meaningful breaks away from work.
  4. Requests for special and sabbatical leaves have been endorsed to help employees explore their desire to undertake further education or to manage personal and family commitments.
  5. The introduction of gifts to celebrate birthdays has been well appreciated by employees.

In recent years, the approach from management to encourage people to speak up has seen an increase in the number of grievances raised. We view this as a positive step towards becoming a better organisation and employer; listening and addressing concerns as they arise; creating an environment where people are free to speak up. In the same way we have taken a stronger stand in relation to discipline with an increase in the number of cases from 10 in 2017/18 to 17 in 2018/19; embedding our values, walking the talk and addressing performance and other disciplinary issues towards making a more positive overall environment.


FY 18-19
11 Grievances
18 Written warnings
17 Disciplinary Actions
3 resignations

GRI 406-1

Health and Safety

GRI 403-4

Through its Health & Safety Committee, the Bank creates a safe and healthy environment for its employees. This committee meets regularly to discuss and find solutions to health & safety issues that are reported through complaints or inspections.
4 meetings of the committee were held throughout the year

  FY 17-18 FY18-19 Trend
No of accidents reported at the workplace 3 1

GRI 403-9

The Safety & Health Officer is also responsible to ensure that all employees have an ergonomic work station, which will reduce the incidence of repetitive strain injuries, common in an office environment.

Culture Deployment

The DARE culture is another way through which the Bank aims at engaging with its employees and ultimately retaining them. Various initiatives have been implemented in this respect:

1. Internal Initiatives: Culture Deployment

Culture meetings have been held for each department facilitated by the DARE Devils (Culture Ambassadors). The culture ambassadors meet on a fortnightly basis to discuss initiatives to be undertaken and the challenges which are being faced.

2. Launch of an internal competition to deploy the Anthem

AfrAsia’s Anthem is a HAKA that all departments have been invited to perform on. A video was also produced on same.

3. Reinforce the message internally with staff:

#iDARE quote screensaver campaign by the Management team that aims to set an example for the staff.

All the Heads of Departments including the CEO were tasked with providing the DARE team with a departmental picture along with a quote which they believe in and which they wanted to convey to their colleagues.

4. #weDARE quote screen saver campaign by all staff of the Bank

On a monthly basis, each department’s team picture and 2 quotes are showcased on every laptop in AfrAsia as the screensaver. This allowed the department to promote the DO’s (code of ethics) of the Bank.

5. Office Etiquettes

A campaign has been setup to roll out the Office Etiquettes via mailer and the internal platform to raise awareness amongst staff about the code of ethics and behaviours to be adopted in the workplace in general.

6. DARE Culture in staff’s KPI

To ensure that employees are living the DARE values, same has been included in the key performance indication, which started in financial year 2018/2019.

7. Equality & Diversity Initiatives

The ultimate objective is to celebrate the different national festivals i.e. Spring, Eid, Divali, Christmas and recognizing our individual differences.

8. Dragons Den

One of the innovative approaches taken by the DARE team is the implementation of Dragons Den. The Dragons Den aka Game of Thrones is the key initiative for the culture deployment which has been setup by the Culture Ambassadors. It is portrayed as a disruptive concept in line with ABL culture deployment program which aims to:

How does it work?

  • All staff are provided the opportunity to present their project(s) to their respective Heads of Department (HODs).
  • The HOD will select (during a Mini Den) the best idea(s) to present in front of a panel (represented by EXCO members) that is required to decide on whether the idea is to be funded.
  • Ideally, all departments try to present at least 1 proposal in front of the panel.

Criteria of selection of the projects

  • Feasibility of proposal
  • Viability for the Bank
  • Budget requirements
  • Time frame for development and implementation
  • Risk assessment