Emerging technologies and increased demands from customers to receive a seamless user experience as well as the need for Standard Bank to respond appropriately to these technological developments, have resulted in the IT division reviewing its operating model to ensure that it is ready for the next wave of technological advancements.
Prudent business practice requires the various businesses within Standard Bank to constantly review their performance and operating models. This is vital to ensure delivery of positive customer experiences, organisational competitiveness and future sustainability.
The IT review has concluded that Standard Bank requires a more adaptive approach for its IT operating model and requisite skills. The new structure will see the creation of new capabilities and roles within Standard Bank’s IT division, in areas such as cloud engineering, data science and analytics, cyber security, and APIs to enable an integrated ecosystem. This will create over 180 new-generation IT positions within the bank. Regrettably, this will also result in the loss of a number of existing traditional IT positions.
This process will result in 526 IT employees receiving Section 189 notices which will commence the consultative process with the employees involved. It is important to note that the Section 189 notices is not representative of the final number of employees who might leave the employment of Standard Bank after the consultative process has run its course. Of the impacted permanent staff, the majority are in the executive and managerial bands.
Standard Bank has engaged with its representative union regarding the proposed new operating model.
Any employees who might be affected will be provided with support in their search for alternative employment. Professional counselling services are available and Standard Bank will also be providing financial planning and advice. Appropriate outplacement and search firms will be also engaged to assist employees if needed.