Maybank attracts millennials through global competition
SELANGOR, Malaysia (UPDATED) – Pass the grueling challenges, bag a career in banking and finance through Maybank's GO Ahead. Challenge 2015.
Kicking off with a grand launch Thursday, April 30, at the Subang Skypark in Selangor, Malaysia, the 4th talent recruitment competition initiated by the Malaysian bank opens applications to graduating students and those with two years of work experience.
They must pass a series of grueling, multi-disciplinary business talent challenges. The competition will test their business acumen, problem-solving skills, mathematical ability, and ability to cope in high-pressure environments.
"The millennial generation will comprise 75% of the global workforce by 2025," said Pn Nora Abd Manaf, Maybank group's chief human capital officer during the launch.
Quoting a 2014 Deloitte study, she said millennials or those under 30 want to work for organizations that foster innovative thinking, will develop their skills, and contribute to society.
About 34% of Maybank's workforce is comprised of millennials, a 17% increase in 5 years. "Millennials are influencers. We're humanizing as an organization. It's how we do business. Anybody who's going to join us should know 'it's nice to have,' but it's how we're expected to operate," she added.
While millennials are generally branded not loyal to their employers due to high turnover rate, the bank though boasts a 90% retention rate of such young workforce. "We can't look at millennials as one type. We just have to understand individuals," Nora added.
Nora also mentioned that for the past 4 to 5 years, Maybank has not limited its job opportunities to banking or finance graduates.
To date, Maybank operates in 20 countries, with a customer base of 22 million, and 47,000 employees globally.
To attract more millennials, from the Philippines included, Maybank redesigned the challenge so applicants can enter the competition either as a team of 5 or as an individual.
At stake is a grand prize of $40,000 for the winning team, $20,000 for second prize, and $10,000 for the third place.
The best individual challenger will win an all-expenses-paid trip to New York as part of their internship with a $1,000 allowance. The second- and third-place winners will bag internship spots at the London and Hong Kong Maybank offices, with additional cash prizes of $750 and $500, respectively.
The winners and participants who show potential during the competition may also earn a fast-track entry into the Maybank Global Apprentice Programme.
Specifically, the winnning team and top 3 individual winners will also be invited to join Maybank's Transitioning Leaders to CEOs' Programme.
The Global Maybank Apprentice Programme is an exclusive 2-year program where apprentices will be given a holistic learning experience with customized on-the-job rotations, including international assignments to allow them to become familiar with Maybank's global network operations.
It is also aimed at accelerating participants into management roles upon their graduation.
Maybank already started touring colleges and universities this April and will accept applications until May 17.
Applications are being accepted from the following countries: Malaysia, Indonesia, Singapore, Vietnam, Laos, Brunei, China, Myanmar, United Kingdom, Philippines, and US. Applicants from Cambodia, Thailand, and Hong Kong can also now join starting this year.
In line with the Association of Southeast Asian Nations (ASEAN) Economic Community, Nora said efforts like Maybank's GO Ahead. Challenge 2015 will directly contribute to human capital development, not only for Malaysia but for the region.
"In ASEAN which is home to 600 million people, a staggering 60% are millennials. This means that ASEAN leaders have the huge responsibility to ensure our milennials have the skills and resources to achieve their potential," Nora said.
Visit their website to know more about the Maybank GO Ahead. Challenge 2015. – Rappler.com