Promoting Employee Development
Talent Strategy and Development
The Bank has formulated the 14th Five-Year Plan for Talent Development of China CITIC Bank. Adhering to the talent concept of “uniting those men in progression, inspiring men of action and promoting men with achievement” and a value-growth human resources concept, it has established a standardized and unified position system and smooth career advancement channels, and encourages employees to grow and excel with the clear guidance and scientific mechanism where “the capable are promoted, the excellent are rewarded, the mediocre are demoted, and the inferior are replaced”.
Career Advancement and Assessment
Career Advancement
The Bank’s position sequences include management, professional technology and operational support. All employees have clear promotion paths, and can switch between different sequences and sub-sequences. Attaching equal importance to incentive and restraint, the Bank creates a “green channel” for the promotion of outstanding talents who have made significant contributions to its development, and adopts replacement procedures for incompetent personnel.
The Bank has set up a platform for leaders and employees to work and start businesses and diverse career exploration opportunities, formulated talent team building plans and supporting policies, established a normalized mechanism for vertical, horizontal, and internal and external job rotation, exchange, secondment and training, and encouraged talents to grow in frontline and challenging positions, and important projects, to build a talent team that covers major fields, has strong support, develops in an orderly manner, and has no lack of qualified successors.
Salary and Benefits
Focusing on its development strategy and business objectives, the Bank adheres to a remuneration concept featuring position value, performance contribution and competence demonstration. Following the principle of unifying effective incentives with strict restraints, the Bank constantly optimizes the remuneration mechanism with value creation at the core, continuously improves the structure for internal income distribution, channels more remuneration resources to frontline and junior-level employees, and gives full play to the positive incentive role of remuneration, so as to drive the strategic development of the Bank and implement various regulatory requirements.
Employee remuneration of the Bank consists of basic salary and performance-based remuneration. The Bank puts in place a policy of deferred payment of performance-based remuneration for middle and senior-level officials as well as employees in key positions and a system for the clawback of performance-based remuneration. It continues to improve the wage and welfare for its employees. In addition to providing all employees with five insurance schemes and one housing provident fund, the Bank establishes enterprise annuity and supplementary medical insurance for contract employees who have passed the probation, and provides maternity leave and maternity allowance for female employees.
Performance Assessment System
The Bank has established a standardized employee performance assessment system. An annual performance assessment is conducted for all employees, and semi-annual or quarterly assessments can be organized at respective units according to the actual situation. The Bank constantly reinforces process management of performance assessment, optimizes the process for performance tutoring and feedback, directs line managers to timely help employees analyze achievements and gaps, guides employees to make progress and improve work, and continuously enhances full process performance management, to facilitate the improvement of organizational performance and employee performance.
Training System and Support
Having constructed a panoramic view of its training plan, the Bank creates a training system by level and category, and continues to intensify employee training. Meanwhile, the Bank optimizes the allocation of training resources to support capability building in its strategic key areas. In 2022, the Bank held 3,737 training sessions, recording 850,300 person-times participation (including online training), basically achieving full staff coverage.
Training for Management Personnel
The Bank offers “onboarding and on-the-job” training to management personnel at all levels to improve their comprehensive and professional abilities mainly in terms of policy trends and the Bank’s strategic focuses.
Training for Leaders
In 2022, the Bank held the Party character training session for middle-level principles at the Central Party School (National School of Administration) (1 session, 88 person-times), and the Party character rotation training session for middle-level deputies at the Zunyi Cadre College (1 session, 46 person-times). By doing so, the Bank continued to train the leadership on cultivating Party character, theoretical knowledge and practical skills.
The Bank held training sessions for new middle-level principals and assistants (2 sessions, 49 person-times) to help them understand job requirements and basic duty performance, and improve their ability to perform their duties, and on-the-job training sessions for department-level leaders of the Head Office (1 session, 41 person-times) to improve their performance coaching and other team management capabilities.
Training for Professional Technology and Operational Support Personnel
The Bank organizes post qualification training and tests to enhance their competence for the posts, and continues to offer training about the update of product knowledge, improvement of business skills and enhancement of personal performance, to boost the professional competency of the staff.
Training for Campus Recruited Employees
The Bank provides training in phases from centralized training and rotating internship to on-the-job tutoring, to help new employees quickly integrate into CITIC culture and achieve the conversion of roles.
Training for Employees
The Bank continues to update the post qualification training system for employees to meet the career growth needs of employees at different levels. In 2022, the Bank developed 1,031 new online courses and had a total of 3,992 online courses. Furthermore, test centers were set in 77 cities nationwide, and 12,198 employees took part in the post qualification tests.
For professionals, the Bank launched a total of 3,386 training sessions on services, products, systems and the like, recording 824,000 person-times in 2022.
For new employees, the Bank organizes orientation training sessions for campus recruited employees and socially recruited employees to help new employees integrate into CITIC culture and adapt to the working environment as soon as possible, and arranges rotation training sessions to help new employees understand the banking business and adapt to their jobs.
Talent Development
According to its 14th five-year plan for talent development and strategic development needs, the Bank introduces the “Double Hundred, Double Thousand” and “Sailing a Hundred Ships” talent projects. The “Double Hundred, Double Thousand” talent project consists of four teams: high-level management talents, high-quality international talents, high-level professional talents, and high-potential young backbone talents. The “Sailing a Hundred Ships” bank-wide demonstration talent project consists of eight teams: potential middle-level principals under the “Voyage Plan”, potential middle-level deputies under the “Continuation Plan”, potential department-level officials under the “Cruising Plan”, management trainees under the “Sailing Plan”, digital talents under the “Star Sail Plan”, capital-light talents under the “Sail Plan”, international talents under the “Sail Voyage Plan”, and scientific and technological talents under the “High Sail Plan”. Three teams, high-potential young backbone talents, management trainees under the “Sailing Plan” and potential middle-level deputies under the “Continuation Plan”, are an important manifestation of the Bank’s efforts to build a strong team of outstanding young talents. By increasing the discovery, cultivation and employment of top-notch young talents, the Bank further improves the reserve mechanism for outstanding young talents, creates a space for diversified and independent development of the new-generation talents, and provides more platforms for outstanding young talents to unleash their creative vitality.
Digital Capacity Training
The Bank attaches great significance to the training on digital capabilities for employees. In 2022, the Bank built its digital capability model and offered an online training course on “Accelerated Digitalization Campaign” digital thinking for all employees. Besides, it launched training camps for Python digital skills based on digital scenarios and task requirements.
External Professional Qualification Training
The Bank encourages employees to study and take external examinations on the professional qualification for their positions in their spare time to improve their capacity of performing duties and integrated abilities, and reimburses employees who have obtained qualification certificates (such as CFP, CFA, CPA) for the examination related expenses.
College Cooperation Platform
By integrating and coordinating the education and training resources of high-quality colleges and universities, the Bank established a bank-wide college cooperation platform for 2020-2022 with 14 high-learning institutions nationwide, including Tsinghua University, Peking University, and Zhejiang University. Over the past three years, the Bank has held intensive training programs in the institutions on this platform, invited their teachers to give lectures, and worked with these institutions on joint research projects. The college cooperation platform has become an important channel for the Bank to train leaders and talents.
*The English version were translated based on the Simplified Chinese version. In case of any discrepancies among the versions, the Simplified Chinese version shall prevail.