HR team build, hiring 400 staff and China local incorporation within 12 months
Mr.F. J. H.
No. of employees:
approx 200 > 500 with 20% turnover in 2007
About the Customer
A global universal bank, headquartered in Germany. On the back of WTO agreements, China allowed foreign banks to obtain more banking licences as locally incorporated banks. In China, Deutsche Bank’s presence early 2006 was limited to around 60 staff, employed by a government employment agency and seconded to Deutsche Bank AG branches. In 2006 the bank had started hiring in order to launch a retail bank branch network.
Testimonial from Сustomer
The China leadership team was extremely satisfied with the results, there were many issues to address around the time of new business launch but none of these were HR related.
The bank’s plan was to hire up to 1,000 staff in 2 years time, open a number of (sub)branches in multiple (new) locations and at the same time locally incorporate. There was no local HR team as HR advisors commuted between Hong Kong and mainland China to support, leading to growing dissatisfaction and frustration with local management. An HR audit end of 2006 showed many areas for improvement.
Within a span of 12 months, an HR team was put together with clear roles and objectives; policies and procedures were drafted, agreed and communicated; staff benefits were negotiated and implemented; staff resigned from the external provider and signed with the newco, with automatic transfer of employment post local incorporation; communication sessions with employees reduced resistance to change; HR regained trust with senior management; the audit issues were addressed and resolved. Staff hiring successful with more than doubling of platform