Kuwait Finance House (KFH) has won three global awards in the Human Resources field for the year 2023 from Brandon Hall Group, a company specialized in the evaluation and performance assessment of banks, companies, and institutions around the world.
KFH was awarded the gold medal in “Best Advance in Employee Recognition Program”, category, a gold medal in “Best Unique or Innovative Talent Management Program” and a bronze medal in the “Best Advance in Employee Engagement” category.
On this occasion, KFH Group Chief Human Resources and Transformation Officer, Zeyad Abdullah Al Omar said that scooping the most prestigious awards in the HR and L&D field is indeed another global recognition that affirms KFH as a benchmark in the field in line with its standing as the largest bank in Kuwait and the leading Islamic bank in the world.
In his statement, Al Omar added that KFH has been making headlines for many successful stories in different fields, i.e. financial performance, creditworthiness, global position, geographic reach, digital transformation, innovative banking solutions, corporate banking, sustainability, social responsibility initiatives, and most recently hitting the record with the highest quarterly profits in the history of Kuwait’s banking sector.
Al Omar indicated that this success would not have been possible without the viable investment in human resources, business integration, and the implementation of best practices in development and talent management programs.
“KFH follows science-based employee recognition programs which are designed according to international standards, and most importantly we at KFH believe in the importance of human talents as a pillar and essential assets for the success of the institution.” added Al Omar.
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.
According to a recent study conducted by a global consultant for measuring standards for benefits and compensation, He went on to say that the compensation and benefits paid to employees are the highest compared to local banks.
As part of the Bank’s focus on developing current and future leaders, Al Omar mentioned that KFH has implemented a series of programs for skilled and talented employees in cooperation with reputable educational institutions such as Harvard Buiness School, IE University, INSEAD and IMD. He added that KFH continues to launch its (Forsa) program, a training program that aims to hire high achieving fresh graduates majoring in technology studies from local and international universities.
Al Omar stated that enhancing employee engagement at KFH is one of the Group’s 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.
Hard work pays off
Al Omar indicated that the awards are the result of the dedication and hard work of all employees in the HR department. It is also the result of the continuous attention of the Executive Management and the Board and their focus on providing the best benefits and improving the work environment for employees, indicating that the awards are thus a motivation towards a further enhancement in achieving highest level of performance and recruiting more young national talents who can lead and maintain KFH’s status as a world leading Islamic financial institution.
It is worth noting that KFH has won the awards by competing with the largest world-class institutions and companies, which is a reaffirmation of KFH's leadership both at the local and global levels. Further, KFH is the first bank in Kuwait and one of the first in the GCC to receive these awards.
Brandon Hall Group is a US-based research and analyst firm and the only professional development company that offers data, research, insights, and certifications to learning and talent development executives, influencing the development of more than 10,000,000 employees and executives from around the world.
The Group awards are based on several criteria, the most important of which is that the program meets the needs of the organization in terms of being a measurable design and presentation and achieves a positive impact on the institution in general.