Singapore's OCBC Group Says it Will Hire 3,000 New Staff Across Sectors This Year

Singapore bank DBS had said in May that it would hire more than 2,000 people in the country this year.

The OCBC Group said on Monday that it aims to hire over 3,000 people in Singapore this year. The announcement comes at a time when the coronavirus pandemic has caused a spike in the unemployment rate across the world. OBC had earlier said that it won't lay off any of its employees globally amid the coronavirus pandemic.

OCBC also said the hiring will be focused more on technology-related roles given the increasing dependence of people on digital channels and services during this pandemic. Around 70 percent of these jobs will be full time and will primarily be in the core sectors.

Timely Move by OCBC

OCBC bank Q4 profits
Around 70 per cent of the jobs will be full-time that will primarily be in areas like corporate banking, data analytics, operations, technology, wealth management and risk management.

The OCBC Group said its jobs push will help young graduates and other job seekers across Singapore. These will include 2,100 full-time jobs. Most of the full-time jobs openings will be with OCBC Bank and its subsidiaries Bank of Singapore and OCBC Securities. Also, some of the openings will be with its insurance arm Great Eastern Holdings.

The 2,100 full-time jobs will primarily be in core areas like corporate banking, data analytics, operations, technology, wealth management and risk management. "We are committed to helping Singaporeans ride out this extremely difficult period. By creating and protecting jobs, we contribute towards boosting disposable incomes and consumer confidence. Both are much needed to reignite the economy," Group Chief Executive Officer Samuel Tsien said.

The remaining 900 jobs will be in the form of traineeship and internship programs. Over 500 positions will be offered to trainees, especially polytechnic graduates, from different universities under the SGUnited Traineeships Programme. The remaining 400 positions will be for university and polytechnic internships.

Focus on Technology and Digitization

Jobs are now surging in US.
OCBC had earlier said that it won't be firing any of its 30,000 employees across the world due to the Covid-19 pandemic. Pixabay

The 2,100 new jobs that will be created over the next few months will also be a milestone for the group as it will represent 19 percent of its total workforce of 11,000 employees in Singapore. OCBC will also be offering opportunities to job seekers looking for a career switch in newer technology areas like cloud computing and cybersecurity.

Through these new positions, OCBC will be aiming to offer its customers a wide array of digital solutions as the Covid-19 pandemic has once again brought to the fore the increasing importance of digitization as more people have started depending on technology. The focus thus will not only be on reskilling and upskilling the group's current employees' digital capabilities but also on creating new positions with expertise in these areas.

Much like other companies, OCBC also has been feeling the heat of the coronavirus pandemic. The group registered a decline of 43 percent in net profit in its first-quarter results in May. However, despite all odds, it had decided not to lay off any of its 30,000 employees. Instead, the decision to add 3,000 new employees will help cheer up the job scene in Singapore.

Related topics : Coronavirus