Singapore-based lender DBS announced Tuesday that it is democratizing coaching for its workforce with the launch of iCoach, a generative AI-powered (Gen AI) platform developed in collaboration with Marshall Goldsmith, one of the world’s top executive coaches.
The bank said in a statement that while most corporations reserve coaching for their top executives or high potential talent, it believes that employees at all levels would benefit from coaching by receiving expert advice on career development as well as topical issues such as work-life balance, personal and small team leadership, or mental wellness.
However, it noted the main challenge has always been scaling coaching in an efficient and cost-effective manner – coaching is usually done on a one-to-one basis and can be costly.
Thus, with the advent of Gen AI, DBS saw an opportunity to leverage the technology to overcome these challenges, enabling the bank to avail coaching to employees across its network.
“As the world of work continues to evolve, building career resilience has become more important than ever. At DBS, we are committed to helping our people thrive by equipping them with future-ready capabilities through our comprehensive Triple E framework – Education, Exposure and Experience,
“ICoach is a powerful new addition that complements these efforts, leveraging Gen AI to offer personalized, on-demand career guidance to help every employee confidently navigate and grow in the future of work,” said Lee Yan Hong, Head of Group Human Resources, DBS.
According to the statement, iCoach’s knowledge base was developed in partnership with Marshall Goldsmith, a leading coaching expert with over four decades of experience working with top Chief Executive Officers (CEOs) and executives, including those from Fortune 500 companies.
ICoach is always-on and available 24/7 to provide employees with just-in-time personalized career guidance.
It is tailored to each employee, drawing on the context of the bank’s roles, functions and internal mobility pathways to deliver relevant and actionable career advice.
It is noted that the data from International Coaching Federation and Better Up Career Coaching showed 70 percent of people in organizations who underwent coaching benefitted from improved work performance, relationships and more effective communication skills.
80 percent of people who received coaching reported increased self-confidence.
ICoach further reinforces the bank’s commitment to upskilling its employees and building career resilience, and complements other DBS initiatives.
These initiatives include iGrow, an AI / machine learning-powered platform that offers personalized career advice by matching employees to tailored learning and job opportunities based on their career and training history; DBS Mentoring Program, which connects employees with leaders and peers, enabling them to gain practical guidance, career insights and support at critical points in their professional growth; DBS Learning Hub, which provides employees with more than 10,000 curated courses, to learn and pick up new skills; Be My Guest Program, where employees have the opportunity to participate in job shadowing, workshops and projects across departments.
