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.
“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