Financial
services giant Deutsche Bank has found a way to measure the commitment of its
staff in order to retain them in a highly competitive labour market.
Dr
Silvia Steffens-Duch, head of its corporate HR marketing and research, told
delegates at the HR Summit that the company now asks staff how committed they
are, rather than just how satisfied they are with the bank.
She
said, “Commitment among employees is one of the distinctive features between
successful and less successful companies.
“The
changing labour markets, including the increasing significance of human capital,
higher employee expectations and difficulty in managing and retaining
employees, raise the significance of commitment among staff.”
The
HR research department asked just over 3,500 banking staff in different
divisions in six countries for their views. Nine questions were asked,
including their response to the statement, “I expect to be working for Deutsche
Bank in two years’ time”.
A
Spanish subsidiary of Deutsche Bank scored the highest in the company’s HR-led
project. As a result the rest of the company is learning from the Spanish group
as to why its employees were the most committed in the whole company.
The
research results set out steps that the company can take to encourage staff to
stay.
It
found that employee turnover can be cut by emphasising the global business,
highlighting the interesting customer base and managing the volume of work so
staff do not burn out.
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“Employee
turnover cannot be reduced through higher wages, more responsibility or better
management,” Steffens-Duch said.
Catriona
Marchant reports from HR Summit 2001 – Human Resources Solutions for Europe,
held in Montreux, Switzerland, 18-20 February 2001, organised by marcusevans
events
