Staff

We are one of Hong Kong's largest listed companies, with a full-time equivalent staff of 9,856 as at 31 December 2013.

Promoting High Performance

We have a well-established system for appraising and improving employee performance at all levels.

On an annual basis, each employee will take shared responsibility along with his or her manager to set challenging but achievable work objectives and a career development plan. An open dialogue is maintained between manager and employee throughout the year on the employee's performance and progress. Employees also participate in at least two individual performance reviews a year, during which managers will provide a formal appraisal and performance assessment in accordance with the Bank's rating scale.

Training and Skills Development

In addition to ensuring our employees meet any regulatory requirements associated with their roles, our staff training and development programmes reflect an emphasis on upholding our strong reputation for service excellence. Our people enjoy individualised training designed to facilitate them in the execution of their duties and enhance their career development prospects. Depending on their position, training may cover financial knowledge, banking products and operations, compliance, risk management, leadership & management skills, and sales & relationship management. Refresher courses are provided as appropriate. We also offer various opportunities for staff to gain professional qualifications and undertake external training that will assist them in their work.

To support new recruits and help establish a common mission for the entire Hang Seng team, we run a comprehensive New Joiners induction programme for all new employees that provides an understanding of Hang Seng's history, vision, culture, values and corporate governance.

Our Introduction to the Environmental System Management course provides staff with the skills and knowledge to implement our environmental and social policies and procedures as applicable to their various business lines. More general sustainability content is also incorporated in our New Joiners programme.

Our average number of training days per full-time member of staff in 2013 was six - the same as in 2012.

Nurturing Talent and Succession Planning

With the aims of retaining talent and ensuring a quality internal pipeline, we identify and develop individuals displaying high potential to fill future leadership roles and other critical positions. We have established a Leadership and Management Development framework with a strategic training focus that enhances leadership qualities, people management capabilities and business and personal effectiveness skills (see box: Building Better Leaders).

We promote a high-performance management culture. Managers are provided with training on how to bring out the best in their staff and provide effective career development support that serves the interests and ambitions of both the employee and the Bank.

Management Trainee Programmes

Our Management Trainee programmes give graduates in Hong Kong and on the Mainland intensive training and exposure to different business segments with the objective of grooming participants to take up future management roles.

Pay and Compensation

We offer competitive pay and employee benefits to attract talented staff and use a performance-based remuneration system to motivate and reward them in line with their contributions to growing our business.

Additional incentivisation is generated through the use of a variable pay scheme that is based on the performance of the Bank and individual employees. As part of our staff retention programme, we regularly review packages and career advancement opportunities, particularly for key positions, to ensure continuing market competitiveness.

Fair Rewards for Equal Work

We strictly adhere to the principle of equal remuneration for work of equal value. Remuneration is determined with reference to market benchmarks and individual skills, performance and responsibilities.

Compensation and benefits for temporary or part-time employees are determined in accordance with legislative requirements and with reference to market practice and are clearly established in the contractual terms and conditions of engagement.

Turnover Rate

Our voluntary turnover rate in Hong Kong for 2013 was 14%.

Employee Engagement and Communication

Effective communication is crucial in building a motivated, engaged workforce. Since 2007, we have conducted staff survey to measure the engagement level of our staff and gain their views on how they see our culture and how we are delivering against our strategies. The survey results provide the Bank's Management with a greater understanding of the motivators and barriers to employee engagement and performance. Our most recent survey indicates that our employee engagement level is well above the external best-in-class benchmark, our strategies are well communicated and implemented, and our values are well embedded in our corporate culture.

In 2013, we implemented Communication and Engagement Framework to assess and enhance our employees' understanding and acceptance of our vision, strategies and values through a mix of communication cascades, leadership programmes and action learning projects.

Information relating to employment matters, our business direction and strategies, and factors affecting the Bank's performance are conveyed to staff via different channels, including business briefings and circulars, as well as through our intranet and morning broadcast service.

Employees can also engage in two-way communication with senior management or provide feedback through such initiatives as Exchange with the Top Team, Chief Executive's mailbox and post-results business briefings.

Equal Opportunities, Diversity and Inclusion

Our employment practices do not discriminate on the grounds of sex, marital status or pregnancy, family status, race, religion, national or ethnic origin, or disability. In championing a diverse and inclusive workplace, we expect all members of our team to demonstrate appreciation, care and respect for each other, regardless of position, background, gender or age.

To help combat discrimination, harassment or victimisation in the workplace, we have an official Equal Opportunities Policy in place and have issued additional more detailed policy statements on issues requiring special consideration. Our human resources policies comply with relevant government legislation, ordinances and regulations. The principles established in our Equal Opportunities Policy are incorporated into our Staff Code of Conduct with which all staff must comply.

All staff receive training on issues such as diversity and inclusion, equal opportunities and data privacy, including as part of our New Joiners programme. In 2013, we provided over 27,500 hours of training on policies, procedures, and building greater awareness of human rights issues that are relevant to our working environment and operations.

Occupational Health and Safety

Our concern for high standards of occupational health and safety (OH&S) in the workplace includes having engaged employees at all levels through committees, forums and working groups in the development of an OH&S policy and management framework.

In 2009, we became the first bank in the world to implement a certified BS OHSAS 18001:2007-compliant Occupational Health Safety Management System (OHSMS). Designed to reduce the exposure of staff, contractors and customers to health and safety risks associated with our business activities, the OHSMS is overseen by a Safety Management Committee (SMC) comprising senior management representatives, with responsibility for monitoring and advising on occupational health and safety programmes. The concerns and views of staff are represented by around 300 Job Hazards Analysis (JHA) Team members and Internal Safety Assessors and the Working Team of the SMC, which is a lower tier committee of the SMC comprising middle management representatives (see box: OH&S: Everyone's Business).

We provide a range of training to enhance the OH&S knowledge of our staff. We arrange for employees from different sites and business lines to acquire qualified first aider status so as to offer prompt assistance to colleagues and customers in the event of a medical emergency or accident. A number of our qualified first aiders have been trained to operate the automated external defibrillators that are installed in various Bank premises.

We have developed a Contingency Plan for Communicable Diseases, which sets out the key issues to be addressed and the actions to be taken by various units in response to the occurrence of a serious communicable disease. Our intranet provides staff with information on the importance of personal hygiene and good health practices, and on the contingency measures that will be adopted to enable the Bank to continue to serve the community during an outbreak of a serious contagious disease.

* includes sick leave & compensation sick leave days in 2013

Business Principles and Values

We have a set of well-founded business principles and corporate values that guide staff in upholding the highest personal standards of integrity and complying with the spirit and letter of all laws and regulations when conducting business. 'Courageous integrity' is the guiding principle whereby every employee has the courage to do the right thing without compromising ethical standards and integrity, and behaves in a 'Dependable, Open and Connected' way (see box: Acting with Courageous Integrity).

Work-Life Balance

Employees who enjoy a good work-life balance are better equipped to give their best performance. We support our people in effectively managing their work and life commitments through initiatives including flexi-time arrangements, adoption leave and volunteer leave.

Apart from offering maternity leave to female employees, in 2008 we implemented a paternity leave scheme that gives fathers the chance to offer greater support to their wives in the days following the arrival of a new baby. A total of 12 weeks' paid maternity leave will be granted to female employees. A total of five days' paid paternity leave will be granted to male employees. We offer adoption leave of the same respective lengths to female and male employees on their legal adoption of a child.

In 2013, 133 female employees and 83 male employees exercised their maternity, paternity or adoption leave rights. The return-to-work rate and retention rate following parental leave close to 100% and 90% respectively.

To encourage healthy lifestyles, a passionate spirit and broad-ranging interests among our employees, our Staff Recreation Centre offers a variety of sports facilities and leisure programmes. We also organise a variety of recreational, sporting and social events, which in 2013 brought over 23,600 staff members, family and friends together in a spirit of cooperation and fun - including through six sporting competitions held under the Hang Seng Cup.

As part of our 80th anniversary celebrations in 2013, we organised a sports-themed employee family fun day that was attended by more than 1,400 people.

A Statistical Snapshot of Our People

Headcount by Employment Type (full-time employees equivalent (FTEs))

Headcount by Gender*

Average Age*

Average Years of Service*

New Hires by Age Group and Gender*

New Hires who left the Bank by Age and Gender Group*

Employees who left the Bank by Age and Gender Group*