Krungthai Bank recognizes the importance of human resources, which are vital for driving sustainable business growth in the New Normal era. To adapt to rapidly changing times, the Bank continuously develops employee capabilities, improves, and manages human resources.

The Bank recruit new competent employees to establish an environment abundant with skilled individuals and foster a positive workplace atmosphere. It enhances employees’ capabilities and ensures the retention of highly skilled staff through fair and appropriate compensation, while also focusing on developing current employees to achieve higher levels of competency.

The Bank actively seeks competent and highly skilled personnel, both locally and internationally, by implementing initiatives to attract promising candidates domestically and expanding its recruitment efforts globally via the International Roadshows and Career Fairs held in the United States, the Republic of Finland, and the United Kingdom. Through a proactive collaboration with the government agencies and other organizations, it enables the Bank to attract highly skilled personnel from diverse educational institutions, particularly in specialized fields crucial for the transition to a digital banking environment. Furthermore, the Bank has established a Management Trainee program aimed at recruiting fresh talent to join its workforce, and an Employer Branding initiative dedicated to shaping a contemporary Bank image that appeals to the younger demographic through diverse social media platforms

The Bank supports and encourages high-potential employee groups through six dimensions: leadership, communication, atmosphere, total reward, opportunities, and pride, to motivate work that matches their abilities. The Bank also monitors career progress and creates opportunities for learning and adding value to work.

The Bank analyzes and reviews compensation and benefits to ensure they are appropriate and equitable, and competitive with other organizations, on an annual basis. The Bank operates under the Performance Driven Organization (PDO) policy, focusing on driving the organization through performance. Employees receive compensation that corresponds to their own performance to motivate continual commitment. The Bank allocates special performance-based bonuses as a reward. In addition, the Bank ensures that employees receive salaries and benefits suitable for their positions, responsibilities, and at rates comparable to other commercial banks or other financial institutions. The Bank also routinely analyzes and reviews employee benefits annually, comparing with peer organizations, evaluating gender pay ratios, and preparing analytical reports and recommendations for various committees and management. This study serves to offer a range of welfare benefits that align with the diverse needs of employees, while also considering the occasional special salary adjustments throughout the year for high-potential Bank employees.

The Bank has implemented strategic workforce planning by leveraging various People Analytics tools as key factors in helping to create an appropriate and strategically aligned human resource management plan. This is achieved by analyzing the Bank’s short-term and long-term strategies in relation to the current status of the workforce and the skills of the personnel.

At Krungthai Bank, our Performance Management system is methodically designed and consistently implemented to drive employee performance towards achieving goals set by the Bank, individual departments, and employees themselves. Krungthai Bank has continuously developed and refined its performance evaluation system, adhering to the Performance Driven Organization policy. The process is as follows:

Step 1: Strategic Planning, KPIs, and Goals Setting The management team collaborates with employees to establish KPIs, goals, and clear evaluation criteria for each indicator using the principles of Management by Objective (MBO). These KPIs are cascaded down from the bank's overarching strategy to ensure alignment across all levels. Employees must create an action plan for each KPI to ensure that their performance meets the set goals. Each employee is assigned individual KPIs.

Performance Appraisal Frequency: At least once a year

Step 2: Monitoring and Tracking Managers at all levels continuously monitor the progress of the Action Plans assigned to employees to ensure they meet the established goals. If circumstances change unexpectedly, the Action Plan may need to be adjusted promptly. Managers also provide continuous coaching and feedback through agile conversations to support and guide their subordinates’ development.

Performance Appraisal Frequency: Ongoing

Step 3: Performance Evaluation The bank conducts performance evaluations at least once a year. Performance is evaluated based on actual results compared to the goals, measuring both team-based performance and individual performance. The evaluation is conducted by a committee to ensure fairness. Employee performance is ranked from 1 to 5.

Performance Appraisal Frequency: At least yearly

Step 4: Formal Coaching & Feedback Once the performance evaluation is complete, supervisors provide individual feedback to employees. This feedback includes strengths, areas for improvement, and additional suggestions. The goal is to help employees enhance their performance, team engagement, and maintain high motivation.

Performance Appraisal Frequency: Following the completion of each performance evaluation.

Linking Performance to Compensation: Employee performance assessments are directly tied to compensation considerations, including both monetary and non-monetary rewards. This approach motivates employees to perform well and aligns with the principle of Pay for Performance, driving the organization towards a performance-centric culture.

Krungthai Bank introduced an additional performance appraisal method for senior executives, supplementing the traditional KPI-based evaluation. This new approach, known as Objectives and Key Results (OKRs), focuses on assessing executives' contributions to the Bank's core mission and improving operational efficiency. The OKRs framework ensures that senior executives’ objectives are aligned with the Bank's strategic goals and that they actively work towards achieving these objectives.

The Bank recognizes the importance of human resource development, focusing on the development of the organization’s core competencies, digital competencies, leadership competencies, and functional competencies. This enables the Bank to better assess, manage, and design individual development plans (IDPs), improving the effectiveness of processes in line with the current business context and the Bank’s operational policies. This results in appropriate allocation of human resources and workforce rates within the organization.

Every year, the Bank conducts a comprehensive 360-degree appraisal of employees’ competencies and performance, involving superiors, subordinates, and colleagues. The results are analyzed to identify employees’ strengths and weaknesses and to inform the development of employee capability development programs. Training is organized to increase skills and knowledge in line with the necessary competencies and the needs of the employees.

The Bank recognizes the importance of fostering commitment, engagement, and caring for employees in order for them to be happy at work. The Bank conducts an annual survey of employee engagement twice a year. The survey topics encompass job satisfaction, performance goals, workplace happiness, and stress from work. The survey results are used to define strategies and improve the Bank’s operations to align with employee needs and expectations. The satisfaction survey results are communicated through the Bank’s Intranet and disseminated in the sustainability report, ensuring that everyone is aware. In 2023, the Bank conducted an employee engagement survey, which 98% of employees participated in. The survey found that 93% of employees are strongly engaged with the organization.

The Bank pays a bonus to an employee who have worked for at least 10 years and are leaving the bank.The amount of the bonus varies based on the length of time which an employee has worked for the Bank.

Krungthai Bank places great importance on health, safety, and a workplace environment free from hazards and risks to ensure its employees’ well-being. The Bank adheres to and complies with the requirements of the Standard for Administration and Management of Occupational Safety, Health, and Environment Act B.E. 2554 (A.D. 2011) and operates in accordance with the Occupational Health and Safety Management System standard: ISO 45001. In 2024, the bank has been certified for the Occupational Health and Safety Management System standard ISO 45001:2018 for its Head Office Building, Building 1 (Nana Nuea Building), and Building 2 (Sukhumvit Building). Additionally, the bank has updated its safety, occupational health, and working environment policies to ensure its suitability, clarity, and in compliance with legal requirements as well as international standards ISO 45001. The Bank has established a vision, mission, and policy for Occupational Health, Safety, and Workplace Environment, aiming to provide a framework for safety management, operations, and performance monitoring to foster a safety culture within the organization.

The Bank conducts regular occupational health and safety risk assessments. The Occupational Health, Safety, and Workplace Environment Committee (OSH&E Committee) considers activities that the Bank carries out in each area and integrates the risk management approaches in operations throughout the headquarters and branches across the country to develop risk mitigation guidelines and set relevant targets, including achieving zero accidents, minimizing safety risk incidents related to practices not in compliance with the law, and identifying methods for corrective actions and closely monitoring the results.

The Bank encourages employees to actively participate in identifying occupational health and safety risks through various channels that are convenient to accessible, including the “Can Fix” system and the “Safety Together” email. Relevant business units then conduct risk assessments and identify approaches to mitigate such risks. In addition, the Bank values creating awareness among employees through various means, including training, communication via email, providing knowledge, encouraging participation via the social community in the ONE Krungthai application, and a biannual occupational health, safety, and workplace environment survey. The survey results are used to improve operations, including fire detection and prevention systems, security systems, and the workplace environment.

The Bank has established an incident reporting process to ensure compliance with occupational health, safety, and workplace environment laws and collect data and statistics on the occurring and near miss incidents to analyze and determine preventive plans and corrective actions.

In addition to complying with the requirements of the Safety, Occupational Health and Environment at Work Act B.E. 2554 (A.D. 2011), such as organizing annual health checks, providing compensation for disability/death resulting from work, and ensuring a safe workplace, the Bank places great importance on the health and well-being of its employees through a variety of activities and projects.

The Bank is dedicated to fostering a safety culture within the organization through the Krungthai Safety Together Project. This initiative has been established to address tasks related to legal compliance, knowledge management, and workplace safety. With the goal of creating a safe working environment, the project encompasses 4 main missions as follows:

1. Enhance safety awareness and knowledge among employees through internal training programs.
2. Employees collaboratively identify safety risks and workplace environment issues by using the “Can Fix” system and Safety Together email. Employees and stakeholders are communicated about incidents that may pose dangers to them so that they can prevent and control accidents that can potentially occur in the workplace.
3. Ensure a safe, suitable, and ergonomic work environment.
4. Support the physical and mental health of employees and provide training courses on ergonomics.