China Bank’s strength and resilience through the years are largely because of our partners in success – China Bankers. Being our most valuable asset, we take good care of our employees by treating them fairly and equally, helping them reach their full potential, and building a good working environment to drive productivity and earn their loyalty.
In 2023, China Bank was recognized as the Employer of the Year in the Philippines by the prestigious People Management Association of the Philippines (PMAP), besting 32 nominees. We are proud to be the only bank to win this coveted award in the last 30 years, a testament to our remarkable people management practices. This award is a testament to our commitment to the wellbeing of our employees, to the best practices in human resources management, and to equality, diversity, and inclusion.
We believe in creating a safe and inclusive work environment where diversity in its many forms is respected. Thus, in both recruitment and career advancement, we offer equal opportunities to all potential and current employees based on their qualifications and suitability. We also ensure that each individual’s contributions are recognized and valued, fostering a workplace where everyone can thrive.
We attract top-tier talent through our diverse sourcing platforms. In 2024, we intensified our hiring efforts to efficiently build a strong talent pipeline and elevate the Bank’s reputation as an employer of choice across the country. We upgraded our LinkedIn engagement to the Hiring Enterprise Program (HEP), granting our Human Resources Group unlimited access to Recruiter Seats. We expanded our partnerships with top universities; participated in 50 career fairs at campuses and mall events and conducted eight career talks nationwide; and intensified our Open Recruitment Program, holding five recruitment events in the National Capital Region and 24 onsite recruitment events at various branches nationwide.
For the second time, the Bank made it in Prosple’s Top 100 Employers for Fresh Graduates. The 2024 ranking showed that we are the Top 3 employer in the banking and financial services sector and the 14th overall, from number 79 in 2023.
The Bank’s high regard for human resources is reflected in a sound compensation policy anchored on the principles of fairness, transparency, and performance-based reward. We take care of our employees, offering fair, equitable, and competitive salaries and benefits to enable them to live well and to foster a sense of security and well-being.
In 2024, we continued to benchmark our compensation and benefits packages against those offered by similar organizations to ensure that our employees enjoy a fair and competitive compensation – including basic salary, allowances, overtime pay – as well as fringe benefits such as health maintenance organization (HMO) coverage, group life insurance coverage, paid leaves, employee loans, and retirement benefits tailored to the needs of our diverse workforce.
We recognize the vital role of employee unions in championing employee rights. We continue to foster a positive and collaborative relationship with our employee unions, ensuring mutual respect and cooperation. Chinabank and our thrift bank arm CBS each have a union and a Collective Bargaining Agreement (CBA). CBS recently signed its CBA for 2024 to 2029, while Chinabank’s five-year CBA signed in 2022 continues to be in effect.
In 2024, a total of 5,873 rank-and-file employees, was covered by CBA.
We advocate continuous training and upskilling to develop our employees to their full potential. We use a range of development approaches, including on-the-job mentoring and coaching, cross-posting, classroom training/workshop at the Chinabank Academy, and self-paced, self-directed learning through our online portal Leaning EDGE (Empowered Talents Driving Growth and Excellence), powered by LinkedIn Learning.
To provide a comprehensive ESG (environmental, social, governance) training program for Chinabank Group employees, we established the CBC Academy: School of Sustainability. One of the components of this initiative is partnering with SM Sustainability School for access to broader content and seamless knowledge sharing.
We also sponsor employees’ external training. The total investment for training and education reached P84.3 million in 2024. We recorded a total of 688,930 training hours.
We encourage our employees to constantly strive for excellence and empower them with the requisite tools, training, and support for their professional growth. Roles, responsibilities and expectations are clearly defined, so each employee works purposely, productively, and is well guided in meeting performance standards.
Our Performance Management System ensures that promotions are based on meritorious performance. Meanwhile, we enhanced our Succession Management Program, adding provisions for the development of successors through experiential means. Development interventions include shared responsibilities with incumbents, also known as shadowing, or the appointment of identified successors as Deputies to support the incumbent. This approach seamlessly integrates successors into both the organization and their eventual roles. It also allows us to conserve institutional knowledge and evolve current practices to drive higher levels of performance and service.
In 2024, a total of 2057 employees were promoted.
We support our employees from the moment they are hired and throughout every stage of their career journey. We empower them to take charge of their careers while providing necessary support to help them unlock their full potential. All our human resources policies, strategies, and programs are aimed at making our people feel valued, that they are doing work that matters, and that we understand and respond to what matters to them.
In 2024, we held internal career fairs emphasizing our commitment to a “jungle gym” career culture, where growth occurs vertically, laterally, and diagonally within Chinabank; and continued to implement employee programs to make working at Chinabank a financially rewarding, intellectually challenging, and emotionally satisfying experience.
We care about our employees and their wellbeing, and provide a healthy and safe work environment at all our offices and branches in line with industry best practices and occupational safety and health standards.
Also in place are health and safety policies, emergency procedures and evacuation plans in case of fire or other significant incidents, and wellness programs aimed at preventing accidents, managing stress, and minimizing cases of work-related ill health. Employees have access to confidential and professional counseling with an in-house psychologist.
Some of the programs implemented in 2024 were: