To get ahead in the new world of work, Standard Chartered sought to break down silos, foster inclusivity, and empower employees to reach their full potential. By launching their talent marketplace, the leading financial services institution achieved a savings of more than $8.5 million and completed over 2,700 internal projects.
in productivity savings
completed on the platform
per employee internally redeployed into a sunrising role
This partnership is a further step in building an organization that is future-fit. We have listened to what our colleagues are telling us about 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.
Founded in 1969 in London, Standard Chartered offers international banking services, working across some of the world’s most dynamic markets including Asia, Africa, and the Middle East. Standard Chartered’s mission is to help people and companies succeed, creating wealth and growth across various markets worldwide with the promise of “Here for good”.
With ever-growing business demands and shifting priorities, Standard Chartered set out to ensure they’re always ready. The organization’s goal is to have the right talent to support its business demands, and just as importantly—that it has the ability to rapidly identify talent and deploy it to the most critical places within the company in a speedy, scalable manner.
Keeping your workforce up to date with today’s—and tomorrow’s—most essential skills has become a key priority for businesses wishing to thrive. The organization decided to create a continuous upskilling and reskilling environment internally, and revolutionize its approach by prioritizing hands-on experiences, rather than focusing solely on content consumption.
Standard Chartered believes that by introducing more diversity of thoughts and perspectives into its work and culture, it can deliver far better services to its customers—while creating a fair environment for its employees.
With a democratized talent marketplace, the bank aimed to uncover hidden talent, mitigate bias, and foster inclusion by giving each employee visibility into internal career opportunities.
To maximize its workforce’s potential, Standard Chartered wished to deploy a solution that would unlock employees’ full capacities.
The organization set out to gain full visibility into the capabilities of its employees, beyond the rigid scope of job structures, and unleash under-utilized skills and productivity in a way that would impact the company’s bottom line.
Gloat’s talent marketplace is an enormous opportunity for D&I. We’re creating an inclusive environment where we can get diversity of thoughts from a variety of different people and introduce them into our projects, while uncovering hidden talent that we would never have known existed before.
To meet its ambitious goals, Standard Chartered decided to deploy Gloat’s internal talent marketplace in a multi-year agreement.
With Gloat, Standard Chartered was able to create an internal virtual marketplace for colleagues that offers different types of career and development opportunities across the organization.
This in turn creates possibilities for upskilling and reskilling; a new way of developing people that doesn’t rely on content consumption, but rather on real-world experiences. In Watson Stewart’s own words, “The talent marketplace is about much more than just consuming learning content; it’s about applying it on the job in a way that makes a difference”.
Ultimately, with the help of Gloat’s talent marketplace, Standard Chartered was able to unlock potential and increase productivity. Available to all, the talent marketplace mitigates bias and introduces a variety of people and thoughts into the bank’s various projects and tasks, thereby improving their outcomes.
The solution provides the bank’s workforce with an innovative AI-driven platform that matches users with a wide range of career opportunities, many of which are linked to skills needed for the future of work.
in productivity savings
Following an initial launch to 12,000 users in Standard Chartered India, including Global Business Services in Bangalore, 4,000 hours of productivity were unlocked. Pilot locations also saw the biggest year-on-year increase in satisfaction with career and development opportunities in the Bank’s annual employee survey.
“We are committed to making the career development and growth of our colleagues a core part of our employment proposition. That’s why I’m really pleased to sign-up with Gloat”, said Tanuj Kapilashrami, Chief Strategy and Talent Officer. “It’s a new way of developing people, ultimately unlocking potential and increasing productivity.”
The pilot program’s promising results drove the organization to go for a full roll-out of the Gloat platform across the entire company. Reflecting on Standard Chartered’s skills-powered transformation, Kapilashrami notes, “We found it was $49,000 USD cheaper to internally deploy somebody in the sunrise jobs as compared to hiring someone externally. Circa 50,000 USD per person is not an immaterial number when you’re talking about a business model that’s pivoting and the requirement for these sunrise jobs is going to be in thousands. So it helped us put a commercial case around it.”
We’re moving into more agile ways of working, and we see the talent marketplace as an opportunity to accelerate that.
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