HSBC Life Singapore secures Employee Engagement of the Year award for Financial Services at SBR Management Excellence Awards

The award underscores the company’s dedication to nurturing an inclusive and engaging workplace that empowers its employees to flourish and ultimately deliver exceptional service to its customers.

HSBC Life (Singapore) Pte. Ltd., the insurance arm of HSBC Group – one of the world’s largest banking and financial services organisations, has been recognised with the Employee Engagement of the Year - Financial Services at the 2023 SBR Management Excellence Awards.

Now in its ninth year, this awards programme lauds the remarkable achievements of leaders, innovators, teams, and initiatives that drive growth and make a positive impact on both business operations and its workforce.

In February 2023, HSBC Life Singapore completed a significant merger of two insurance businesses, following one of the first acquisitions for HSBC Group in the last 10 years. This pivotal move brought together 800 employees from the merging organisation into HSBC Life Singapore, emphasising the importance of creating a cohesive and inclusive company culture that harmonises the best elements of both entities.

The integration of a "new" culture at HSBC Life was guided by the company's four core values whilst incorporating other essential elements aimed at building trust, a stronger sense of belonging and higher collaboration: 

• We value difference – Seeking out different perspectives
• We succeed together – Collaborating across boundaries
• We take responsibility – Holding ourselves accountable and taking the long view
• We get it done – Moving at pace and making things happen

At the heart of HSBC Life's journey towards fostering a unified employee culture, the support from senior management on building the right culture, regular engagement, and sharing the right tone from the top strongly contributes to the success. 

In addition, driven by a strong belief that culture building needs to involve everyone in the organisation, a “Culture Tribe” was created. Comprising over 20 volunteers, called “People Champions,” from a diverse range of departments across the organisation. The Culture Tribe’s aim is to drive engagement to build better trust, share ideas, support staff wellbeing, promote future skills, and create an inclusive environment. 

Over 30 activities were conducted across different themes, including fostering collaboration amongst teams, hosting Employee Benefits roadshows, and showcasing HSBC Learning and Development programmes, especially to new joiners and a staff appreciation week along with the launch of a new People Recognition Program. 

This team has exhibited exceptional cross-team collaboration efforts and serves as positive advocates and influencers committed to driving positive change and boosting employee engagement.

HSBC Life made communication a priority through this culture-building journey. Six all-staff town halls were held to keep employees informed and engaged on strategy, business updates, culture priorities, and staff appreciation. Digital tools were leveraged to strengthen communication, such as by launching the HSBC Life Workplace page, a social page for all staff to share key updates and connect with each other.

HSBC Life also achieved several remarkable milestones that underscore the company's commitment to fostering a dynamic and united workforce. Notably, almost 100 employees came together to support the national-level OneMillionTrees movement, instilling a sense of pride and camaraderie amongst staff. This collective effort not only contributed to environmental sustainability but also strengthened the company’s commitment to social responsibility. 

Furthermore, HSBC Life's dedication to corporate social responsibility was formally recognised when they were honoured as "Friends of Red Cross" by the Red Cross. This prestigious award, presented by the President of Singapore to HSBC Life on 3 October 2023, highlights the company's commitment to making a positive impact in the community. 

On top of that, HSBC Life is also dedicated to providing a wide range of insurance solutions to the diverse needs of its clients, including protection, legacy planning, and wealth accumulation. Their unwavering commitment to supporting customers and their staff on their journeys to success is at the core of their mission and aligned with their values of social responsibility. 

The SBR Management Excellence Awards is presented by Singapore Business Review Magazine. To view the full list of winners, click here. If you want to join the 2024 awards programme and be acclaimed for your company's employee engagements and management initiatives, please contact Julie Anne Nuñez at [email protected].