Standard Chartered partners with Gloat to create a virtual marketplace for its workforce

Standard Chartered Bank and Gloat have announced a multi-year strategic partnership to enhance the Bank’s ability to use the best of their colleagues’ skills and experience for the good of its clients.

As the Bank anticipates future ways of working, this partnership marks a significant milestone in its ambition to create an internal virtual marketplace for colleagues that offers different types of career and development opportunities across the organisation and where its leaders can identify, develop, and deploy talent quickly. This in turn creates possibilities for upskilling and reskilling; a new way of developing people, and ultimately unlocking potential, capacity and increasing productivity.

Standard Chartered’s implementation of Gloat’s solution is another step in its journey to drive innovation and build an inclusive culture. The partnership provides its workforce with an innovative AI-driven platform that matches employees with a range of career opportunities, many of which are linked to skills needed for the future of banking.

Following an experiment of 12,000 users in SCB India, including Global Business Services in Bangalore, 4000 hours of productivity has been unlocked, and the pilot locations have seen the biggest year-on-year increase in satisfaction with career and development opportunities in the Bank’s annual employee survey.

2021 will see a phased roll-out across the Bank, with the plan to make it available to all employees by 2022.

Tanuj Kapilashrami, Group Head, Human Resources, commented: “This partnership is a further step in building an organisation that is future fit. We have listened to what our colleagues are telling us around career progression, development opportunities and employee experience and have brought in a solution that offers upskilling and reskilling opportunities, while for the Bank, making it easier to deploy the right people to the right opportunities.”

“In a time when engaging, developing, and retaining existing talent is more important than ever to the long-term success of a business, we’re honoured to be working with Standard Chartered Bank to bring their forward-thinking vision for an agile virtual marketplace to life,” said Ben Ruveni, CEO of Gloat. “This is a first-of-its-kind initiative in the financial services industry, and we are excited to scale the impact we’re already seeing to the rest of the Bank’s colleagues and, in turn, the clients they serve.”

Gloat’s platform is the first of its kind, and the leading technology powering internal talent marketplaces at a global scale within Fortune 500 companies. Its solution has already been implemented and fully adopted by organisations with 100,000+ users, spread across more than 120 countries.

The Gloat partnership follows Standard Chartered’s November 2020 announcement on flexible working; implementing a hybrid approach, combining virtual and office-based working with greater flexibility in working patterns and locations. Both are steps towards making the Bank as flexible, dynamic and attractive to current and future employees as possible.

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SOURCE: Standard Chartered