Maybank: Cultivating a Banking Culture that Thrives on Work-Life Harmony

Business Case 

As a leading regional financial institution operating in a dynamic and highly competitive environment, Maybank recognises that sustained business success depends on the well-being, engagement and resilience of its people. Anchored in its mission of "Humanising Financial Services" and People First philosophy, Maybank's Work-Life Excellence Framework supports employees through different life stages while fostering an environment where they can thrive professionally and personally. By enabling employees to perform at their best both at work and at home, Maybank strengthens employee engagement, talent retention, productivity and long-term organisational performance.

Humanising financial services starts with humanising the employee experience. By recognising employees as individuals with evolving personal, family and career aspirations, Maybank seeks to create an environment where employees feel supported, valued and empowered to succeed at every life stage. 

Featured Work-Life Programmes 

Maybank has in place a wide range of work-life programmes such as:

• Flexible work arrangements: Telecommuting through satellite offices, staggered or flexible hours, part-time work and interim work arrangements support employees across different life stages and personal circumstances. 
• Life-stage leave and parenthood support: Benefits include 14 days of marriage leave, extended maternity leave, four weeks of paternity leave (regardless of child’s nationality) and family care leave.
• Employee feedback and continuous improvement: Regular engagement platforms and leadership involvement help Maybank refine and enhance its work-life programmes. 

Implementation 

To build a culture that thrives on work-life harmony, Maybank focuses on strategies such as:

Adopting a Life Cycle Approach 

Maybank recognises the different needs each individual has at various stages of life. Apart from programmes available to all employees such as personal work-life effectiveness as well as health and wellness programmes, it has implemented targeted programmes for employees at specific life stages that are beyond the statutory requirements. For example:

• Employees pursing further education can take on part-time work, staggered time/flexible hours and financial assistance useful to balance academia commitments with work responsibilities.
• Newlyweds can enjoy extended time away from work with marriage leave – one of the best in the industry at 14 days.
• New parents benefit from enhanced parenthood support. New mothers can benefit from extended maternity leave, where they can extend their leave beyond the regular 16 weeks by two months at half-salary, and another six months at no pay. New fathers are eligible for four weeks of paternity leave, while parenthood leave benefits are extended regardless of a child's nationality.
• Two days of family care leave are provided to enable employees to spend time with their families or attend to family exigencies. 
• Employees with dependents at home can utilise FWAs such as staggered time/flexible hours, part-time work and telecommuting so that they can contribute to the organisation while fulfilling personal responsibilities
• Retired staff have the option of working on an interim basis, so that they can enjoy retirement while taking on jobs to fill their time or supplement their finances when the opportunity arises.

Embracing Diversity and Establishing Unity

Maybank seeks to ensure that all its people have their voices heard in shaping its work-life programmes through various employee engagement platforms. Leadership involvement across different levels of management is also an established practice to promote continuous improvement. Some of the organisation’s engagement platforms include:

• Townhall meetings
  Management takes this opportunity to share important information with the employees. It is also an opportunity to hold a dialogue with employees and receive their feedback.

• Skip level meetings
  Such dialogue sessions enable upper-level management to skip the middle management level to communicate directly with non-managerial employees, therefore enhancing transparency.

• Brown bag sessions
  These sessions are held for supervisors and managers to understand the Bank’s work-life programmes better, so that they are well-equipped to advise staff on the various options. Employees are invited to attend Dialogues with Group Executive Committee (EXCO), Country CEO and Senior Leaders.

• Employee and employer surveys and focus group discussions

These engagement platforms enable Maybank to gather on-the-ground insights and better understand the evolving needs of its workforce. Feedback collected through these channels has informed various enhancements to the Bank's work-life programmes offered, including extended parenthood benefits, family care leave, lactation and prayer rooms, transportation arrangements to nearby malls, enhanced annual leave provisions for new joiners and guidelines that discourage meetings outside working hours. By actively listening to employees, Maybank continues to refine its programmes and ensure they remain relevant and meaningful.

Normalising FWA Utilisation 

To further encourage staff to utilise FWAs, Maybank took the initiative to:

• Adopt a Balanced Scorecard Performance management system, where KPIs and targets take into consideration the FWAs that the staff may be on;
• Assess staff performance and rewarding them based on their achievements and completion of deliverables rather than the hours worked;
• Establish work-life-related indicators, including talent retention, the Employee Engagement Index and the Internal Customer Satisfaction Index, are cascaded to line managers; and
• Introduce the Senior Management Mentorship Programme, where each Singapore Management Committee member mentors several branches or units and acts as a role model for work-life harmony.

Outcomes

Beyond employee satisfaction, these initiatives have delivered tangible business benefits including stronger employee engagement, improved talent retention and workforce stability. By supporting employees through different life stages, Maybank strengthens organisational resilience, preserves institutional knowledge and reduces the costs associated with employee attrition and replacement.

Maybank’s retention rates and employee engagement index have been consistently above the national and industry average – these accomplishments are the product of its foresight in work-life since 2004.  In FY2024, Maybank achieved an Employee Engagement Index score of 88%, compared with the Singapore national norm of 82% and global financial services benchmark of 84%, demonstrating the sustained impact of its work-life strategy.

Such outcomes also translate into positive business benefits for Maybank, including greater workforce stability and reduced resources required for talent replacement and the training of new employees. The Bank’s sustained commitment to progressive people and work-life practices has strengthened its reputation as an Employer of Choice and earned recognition through numerous national and industry accolades.

A year later, it achieved another milestone as the first bank in Singapore to be conferred the People Excellence Award, recognising its excellence in human capital and organisational practices.

Maybank Singapore won the Tripartite Alliance Award for Work-life Excellence in 2025. They also received the Age Inclusive Practices Award and the prestigious Pinnacle Award in the same year.

This article was first published in 2019 and updated in 2026.