Deutsche Bank

Human Resources
Report 2017

HR’s priorities for a better Deutsche Bank

Our HR vision is important in building a better bank: working in partnership to create an environment where people can thrive and are enabled to deliver sustainable organizational performance. In line with this vision, Deutsche Bank has made good progress towards achieving a number of key HR priorities. One of these is to enable the bank’s digital transformation, which not only affects products, processes and services, but has a profound impact on how we work. The way in which both clients and employees experience our bank today is a direct result of this change. Our people agenda, which contributes significantly to the delivery of the bank’s overall strategy, is particularly relevant in the context of digitalization.

To achieve our strategic goals and enable change across the organization, we need the expertise, commitment and enablement of our employees. In 2017, we placed particular focus on reviewing and designing bank-wide people processes from our employees’ perspective. This is based on the tenet that employee engagement increases when the employee experience is positive. The responsibility of the HR function in its role as enabler of the organization’s digital transformation thus extends far beyond the digitalization of its own internal processes.

Changes arising from digitalization affect every aspect of the bank’s workforce – from the way employees are hired, trained and managed to the way they communicate, interact and experience their workplace. Having experienced increased convenience and efficiency through the use of technology in their personal lives, they expect similar options from their employer. Deutsche Bank began tackling this challenge several years ago and has started to systematically digitalize its HR services. These efforts will continue and intensify.

Improving the employee experience

The bank’s HR Connect system, a modern HR portal that offers numerous related tools and services, provides all bank employees globally with fast, easy, round-the-clock access. Users can personalize pages, which are clearly structured, and access content with just a few clicks. The updated portal led to a noticeable and quantifiable increase in efficiency. Following on from this, Deutsche Bank is preparing to implement the HR enterprise resource planning system, Workday. This cloud-based IT platform will support the majority of the bank’s HR services in a single, user-friendly system while integrating data sources from the entire bank. It will provide real-time information and analyses on people-related data such as new hires and employee development.

To address new and emerging trends – including digitalization and demographic change – in today’s working environment and society at large, HR started its “Zukunft der Arbeit@DB” (Future of Work@DB) initiative in Germany at the end of 2015. Its main focus has been to develop more flexible approaches to career and leadership issues and to address the needs of people in all phases of employment, including those transitioning into retirement, in line with new models of work and organizational structures.

Our new digital curriculum aims to further expand and systematize online learning and training opportunities for employees. The Connect2Learn platform already offers tailored online learning materials that employees use extensively. It allows them to choose what is relevant to their development and interests when they need it and provides access to the same high-quality training options irrespective of location.

In the area of employer brand, we are making extensive use of the opportunities afforded by digitalization, using social media and apps to ensure success when it comes to recruiting new employees and raising the brand profile among university students and graduates.

The year 2017 saw the further implementation of dedicated workforce management solutions to strengthen employee engagement and reduce costs. In order to increase employee satisfaction, retain knowledge and expertise and allow employees to pursue individual career goals, the HR function continued to focus on internal mobility and enabling redeployment across the organization. To increase mobility, the bank launched an initiative for divisions to actively market open positions and the skills they require. We developed a job search engine, Connect2Job, in which employees can upload their CV in order to find matches to in-house job openings with the help of a specially designed algorithm. 

Postbank’s “Mein HR-Portal" (My HR Portal) offers employees a variety of digital tools, such as an overview of their leave and forms to request leave, notifications of illness for themselves and others, forms to enter their working hours and the option to view their payslips. In addition, “Postbank Akademie” has developed an extensive digital training program that includes educational videos on mandatory topics, such as fire protection and occupational health and safety, and more complex issues, such as information security or money laundering.

Supporting strategic measures

Beyond digitalization, the HR function continues to support restructuring measures by coaching and training managers to prepare them for the fundamental changes our organization is going through. While in some areas, jobs have been cut, other areas have seen growth – and as part of our internal mobility strategy we have helped many employees find new suitable roles within the company. Thus, the bank is able to retain crucial experience and capabilities. As part of the overall reorganization, teams from our central infrastructure functions, including HR, were aligned to the three business divisions in 2017. The alignment to businesses has enabled faster and more independent decision-making with more direct influence by the business over front-to-back processes.

As the bank seeks to foster management and leadership capability and support employees’ professional and personal development, we strengthened our talent agenda in 2017 by expanding leadership, management and acceleration programs for broader coverage across the organization and by further embedding diversity and inclusion in all people processes.

Achieving a sustainable balance between employee and shareholder interests remains a key objective of Deutsche Bank’s strategy, and its new compensation framework (implemented 2016) has established a closer and more direct link between performance and pay in line with the bank’s values. For the financial protection, work-life balance and health of our employees, we offer a broad range of benefits.

Impact of regulatory and geopolitical developments

Regulatory and geopolitical topics have also impacted our work. As an example, the HR function helped prepare the bank for the implementation of the German Transparency Remuneration Act. Passed into law in 2017 and effective since January 2018, the Act seeks to support equal pay for male and female employees. To this end, we introduced a process in our home market that was agreed with employee representatives. The German Remuneration Ordinance for Institutions has been applied across the bank globally. Also, based on the respective European Union Directive, the HR function helped to provide insight into the bank’s diversity policy as it relates to the management and the supervisory board. In addition, we are preparing for the implementation of the EU General Data Protection Regulation.

The bank’s Management Board set up a dedicated Brexit Program in June 2016 to design and implement group-wide preparations ahead of the UK’s planned exit from the European Union. This is intended to provide our operating model with the flexibility to meet the needs of clients and regulators, regardless of the outcome of Brexit negotiations. From the outset, the HR function has played a key role in the project, including taking a lead in one of the seven workstreams. The team has been working closely with the business divisions to analyze the potential impact on roles in the UK and Continental Europe, subject to the final rules agreed by politicians and regulators on permissible cross-border activities between the UK and the EU.

Deutsche Bank’s commitment has been to ensure that potentially impacted employees are advised, consulted and appropriately supported as these decisions are made. For those employees who decide to move to a new EU location, HR has helped to ensure the right contracts, terms and relocation support are available to make the transition from the UK to the respective EU location as smooth as possible, for both employees and any impacted family members. This also requires appropriate employee representative bodies being consulted.