Kuwait Finance House (KFH) Group Chief Human Resources and Transformation Officer, Zeyad Abdullah AlOmar, said that in 2023, the Human Resources Department achieved unprecedented results at the banking level locally and globally.

 

He added that KFH successfully accomplished its strategic goals and initiatives, recording comprehensive, balanced, and supportive achievements that supported KFH's business and drove overall performance. These results led to winning two gold awards and a bronze award from the Brandon Hall Group, making KFH the sole bank in the Middle East to achieve this feat and the leading bank in HR practices at local and regional levels.

 

Global Awards

AlOmar explained that KFH's endeavors resulted in securing three esteemed global awards in human resources for the year 2023, bestowed by the reputable Brandon Hall Group, a company specialized in measuring the performance of banks, companies, and institutions based on studies, research, and surveys. KFH was awarded the gold medal in the "Best Advance in Employee Recognition Program" category, a gold medal in the "Best Unique or Innovative Talent Management Program," and a bronze medal in the "Best Advance in Employee Engagement" category.

 

Employee Welfare

AlOmar stressed KFH's commitment to the development and welfare of its employees. “The salaries, benefits, and compensations received by KFH employees are the highest compared to local banks, according to a survey conducted by one of the international consultants. In the 2023-2024 plan, KFH is taking measures to improve the health insurance benefits for its employees and their families. This is part of KFH`s efforts to provide comprehensive medical coverage. The aim is to create a healthy environment that helps creativity and innovation, supports skills and performance, and maintains KFH as a preferred banking destination for both its employees and job seekers,” he added.

 

100% Rate of Kuwaiti Recruitment

AlOmar said that KFH has enhanced its policy of training and development and digitization strategy, attracting skilled nationals and empowering women. This is reflected in KFH’s impressive employment figures, with Kuwaitis constituting approximately 100% of the total hiring (400 employees) in 2023. Additionally, the women account to around 23% of the total workforce at KFH.

 

"As part of its efforts to advance diversity and inclusion in the workplace, KFH has effectively created various employment opportunities for individuals with special needs and successfully integrated them into the workforce,” AlOmar said. He proudly revealed that KFH hires the highest number of Kuwaiti employees compared to other Kuwaiti banks and private sector institutions.

 

More than 83,000 training hours

AlOmar explained that KFH continues to invest heavily in the development of its human capital, indicating that KFH's efforts in developing talents stem from its belief in the importance of human resources as core assets for the success of the institution. Additionally, KFH has succeeded in providing more than 83,000 training hours to 3,116 employees.

 

Graduation of 50 KFH Group Leaders

KFH launched the “Excellence in leadership” program, consisting of the “Building Leadership Excellence” and “Corporate Leadership” programs. The goal is to enhance the efficiency and performance of KFH’s managers and executives, emphasizing the bank’s dedication to excellence and innovation, AlOmar explained.

 

 KFH also honored the "Excellence in Leadership" program graduates of 2023 in partnership with Headspring, which was organized in Kuwait and Madrid in cooperation with IE Business School and the Financial Times Media Foundation, with the participation of 50 leaders of KFH Group and its subsidiaries.

 

The Certified Real Estate Appraiser program, launched by KFH, is the first of its kind in Kuwait. It is developed using the latest professional techniques in the real estate industry. The program has received accreditation as a professional certification from both local and international authorities. It is also suitable for inclusion as an integrated specialization within university curricula, serving as a significant pillar.

 

Harvard Business Program

Following their successful completion of the Harvard Business School program “Strategic Leadership in a Changing World” under the “Kafa’a” initiative by the Central Bank of Kuwait, KFH celebrated the graduation of its executive leaders.

 

AlOmar commended KFH for implementing the “Project of Excellence” program, which focused on training the employees of Private Banking, Al Ruwad, and Individual Finance. The program aimed to enhance their knowledge and skills in relevant areas. Additionally, KFH successfully conducted a training program for 184 branch managers, equipping them to handle security responsibilities.

 

AlOmar also said that KFH launched specialized programs for new recruits, aiming to sharpen their skills, enhance their expertise, expand their banking knowledge, and ensure their adherence to KFH’s methods and standards as well as its global leadership.

 

For the third consecutive year, KFH collaborated with the Kuwait Society for the Handicapped to launch a dedicated training program for individuals with special needs. In this program, participants were provided training in different departments within KFH.

 

Digital Transformation

AlOmar said that KFH is actively digitizing crucial work functions and aligning its goals and future strategy to enhance the digital experience for its human resources. Adopting technology has enabled KFH to provide employees with a digital experience that simplifies and expands service management.

 

AlOmar added that KFH is the first bank in Kuwait to successfully integrate Oracle Fusion HCM Cloud, which plays a vital role in transforming human resources digitally. This accomplishment follows the successful implementation of Oracle Cloud at KFH-Bahrain. KFH is now progressing into the second phase of the system. Furthermore, KFH has obtained approval from the Central Bank of Malaysia to transfer its operations in Malaysia to the Oracle system.

 

KFH also achieved successful implementation of the Leaders Report utilizing Power BI, a vital component in the process of data-driven decision-making and analysis. Additionally, KFH accomplished full automation of payroll system procedures through the HCM system. This advancement enables team leaders to easily access a comprehensive list of their employees and review their eligibility for future nominations. Furthermore, KFH successfully launched security services via the Oracle program and effectively integrated the alarm system with the Ministry of Interior's operations room.

 

KFH Digital Academy

AlOmar said that KFH continues to develop the digital capabilities of its human capital and provide specialized programs through KFH Digital Academy in line with KFH's efforts towards digital transformation.

 

Career fairs

AlOmar said that KFH participated in many career fairs in various colleges and universities with the aim of attracting national youth talents.

KFH also signed several Memorandums of Understanding with private and public universities and academic institutions to assist and foster the growth of national talents as well as attract them. The aim is to enhance the areas of training and education by facilitating the exchange of information and experiences, as well as promoting scientific research.

 

Talent Management

AlOmar emphasized that KFH continues its strategy of focus on attracting and developing talents and equipping leaders with exceptional capabilities to keep pace with the growth and prosperity of KFH Group through integrated training and development programs in cooperation with international universities and educational institutions such as Harvard Business School, INSEAD, IMD, and IE School for business administration.

 

He highlighted that Talent Development team at KFH is keen on continuing efforts to enhance the development trajectory and updating its strategy with the latest insights and expand knowledge of the bank`s staff. KFH is proud to invest in its talents by allocating the largest budget to developing and training employees.

 

Forssa Program

AlOmar pointed out that KFH has continued gearing its efforts towards training outstanding and high-achieving Kuwaiti graduates from local and international universities in technological and financial disciplines through “Forssa” program, paving the way for new graduates to pursue a rewarding career path and acquire skills that keep pace with the global changes in the banking arena.

He added that the program has been a success since its first launch in 2009 and has gained recognition inside and outside Kuwait. Today, Forssa program is considered an exemplar in the training field and a valuable opportunity for participants to obtain knowledge and experiences in one of the world's leading Islamic financial institutions, the largest bank in Kuwait and the second largest Islamic bank in the world.

Several Forssa alumni now hold leadership positions within KFH, reflecting the program’s success and the caliber of its participants.

 

Women Empowerment

AlOmar pointed out that KFH, is the first Islamic bank in Kuwait to sign the Women's Empowerment Principles (WEPs) Agreement with the United Nations Development Program, noting that KFH has provided a solid foundation and healthy environment in which female employees built up their leadership personalities.  Additionally, KFH has an inclusive corporate culture, and several women hold executive management posts as they have proved their ability to shoulder significant and important roles.

 

Employee Engagement

Al Omar stated that enhancing employee engagement at KFH is one of its strategy pillars, as KFH is one of the first local and regional banks to implement the annual employee engagement survey in 2013, through which employees’ satisfaction is measured under a transparent, professional, and confidential process, pointing out that the survey contributes to improving the work environment by setting and executing plans according to key survey indicators. He also noted that the survey resulted in an increase in the employee engagement annual index, compared to the years before and to other high-performing regional institutions.

 

Qadha Program

He added that KFH attaches great importance to employees, saying that KFH launched the (Qadha) program, the first at the level of the banking sector in Kuwait. The program is based on accurate performance evaluation criteria, in addition to attention to all professional aspects, and covers all departments in a balanced manner based on international studies and practices to evaluate employees and appreciate their efforts and excellence. It includes monthly, quarterly, yearly, and even instant assessments.

 

He revealed that Qadha was awarded by Brandon Hall Group with the gold medal in the world’s “Best Advance in Employee Recognition Program” category.

 

Investing in Sustainability

AlOmar continued: “KFH organized a workshop on sustainable finance for its senior management as part of the partnership with the United Nations Development Programme (UNDP) to advance the integration of sustainability into its practices and decision-making. The workshop brought together theory and practice by world-leading experts in cooperation with the UNDP.”