Fulfilling Staff's Dreams of Home Ownership
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| Ms. Amy Chan |
Many people in Hong Kong dream of buying property to establish their own home. However, soaring local property prices have made this very difficult to achieve. Since last year, Dah Sing Bank – the recipient of the 'Employer of Choice Award' – has been offering highly attractive mortgages for its employees, increasing the loan-to-value ratio from 90% to 100%. This allows qualified staff members to purchase a home without a down payment. These highly competitive employee benefits have won widespread acclaim from Dah Sing's staff.
Established in Hong Kong in 1947, Dah Sing Bank employs more than 3,000 employees across Hong Kong, Macau and Mainland China. "Our employee values proposition is: 'NOT JUST A BANK. A HOME.' says Amy Chan, General Manager and Group Head of Human Resources at Dah Sing Bank. "We've interviewed many employees, and most of them considered the workplace similar to a home – a place where they can be the true and authentic self like at home"
Beyond a Job
'Beyond a Job' is the first pillar of Dah Sing's employee values proposition. According to Chan, employees don't just work for a salary – they also work for the opportunity to maximise their potential and talent through a host of comprehensive training and development schemes. "For example, our 'Smart Award Programme' invites staff members from different management levels to submit proposals on how to enhance different areas of our business. A judging panel selects the best proposals, which are then put into practice."
Beyond Yourself
The second pillar ('Beyond Yourself') is designed to improve the welfare of staff's families. The 100% mortgage is one of the bank's most competitive initiatives, which has benefited many staff members . "Many banks are able to offer their employees preferential mortgage terms, but we have taken the lead by increasing the loan-to-value ratio from 90% to 100%," explains Chan. "Our colleagues don't need to provide a down payment in order to purchase their own home, and the maximum loan period for employees is up to the age of 60. We only have two criteria: monthly repayments cannot exceed half of the employee's salary, and the applicant must have been employed by Dah Sing Bank for at least one year."
Chan also noted that in addition to existing leave benefits such as paternity leave, birthday leave, volunteer leave and examination leave, Dah Sing has increased the number of days of annual leave and maternity leave and extended medical insurance coverage to include the families of staff members. "Moreover, our 'Summer Flexi' programme was launched last July and August, which allows our employees to exchange overtime work hours for a maximum of two days leave so they can enjoy more leisure time with their friends and families during the summer."
Beyond Now
The third pillar is 'Beyond Now'. One of Dah Sing's missions is 'To grow with our employees through mutual commitment'. Dah Sing Bank was the first bank in Hong Kong to launch a number of innovative services such as the Octopus Automatic Add Value Service and mobile in-app applications for credit cards, personal loans and bank accounts. Dah Sing plans to continue its efforts to progress and prosper together with its employees, customers and the Hong Kong economy.
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