For the LLB Group, training and professional education is an important instrument for increasing its competitiveness. In 2019, we invested CHF 1.7 million (2018: CHF 1.8 million) in the targeted development of managers, talent and competences. By doing so, we were able to fill 59 per cent (2018: 50 %) of management positions that became vacant internally in the reporting year. To give existing employees an overview of their individual development paths, we rolled out the “Career Planning” project, which through the newly created job profiles shows the different levels of professionalism. It enables us to explain to our employees what the prospects are in their current job and beyond that also in related or higher jobs. Constructive feedback and the identification of areas for development are encouraged as well.
The level of qualifications of new entrant employees and managers has increased significantly in recent years: 65 per cent of newly recruited employees have graduated from a university or a university of applied sciences or have completed higher professional training.
Measuring the success of staff development
The LLB Group has established two uniform appraisal processes – the “Performance Management Process” (PMP) and the “People Development Process” (PDP) – to support the systematic further development of its staff as skilled employees, managers and individuals.
- The PMP is used to link Group targets with individual staff objectives. The process has been institutionalised across the company and it works for employees and managers alike, irrespective of their position. The PMP is the systematic management and assessment of the performance and the conduct of an employee.
- The PDP is the development tool used by the LLB Group. More specifically, it is a process that allows an employee to discuss their own development with their manager. The first part of the PDP takes place at management level and comprises an annual assessment of the LLB Group’s entire people portfolio. Based on this and future requirements, strategic personnel planning for the business areas and teams can then be carried out. The second part of the PDP describes the individual employee’s path from formulating development intentions to devising a concrete action plan.
- Employees who are highly motivated to develop their skills and have potential are assigned to so-called “Potential Pools”. There are five categories, representing different levels of management or specialist careers. The aim is to systematically develop identified talent who exhibit good performance and impeccable conduct. Using careful evaluation processes, 89 individuals, or 7.2 per cent of employees, were assigned to appropriate “Potential Pools” in 2019.
Client adviser certification
With mandatory SAQ client adviser certification, we are ensuring the outstanding advisory competence of the LLB Group for the long term according to uniform quality criteria. In 2019, we invested CHF 318'000 (2018: CHF 410'000) in training programmes in accordance with the standards of the Swiss Association for Quality (SAQ). By the end of 2020, all employees who have contact with clients will have completed such training programmes. 163 employees, or 58 per cent, were certified by the end of 2019.
The certification also complies with the regulatory requirements arising from the European Markets in Financial Instruments Directive (MiFID II) and the Swiss Financial Services Act (FinSA).
When it comes to the training of the junior employees, Liechtensteinische Landesbank lives up to its responsibility as one of the largest providers of training in Liechtenstein. In 2019, 34 apprentices (2018: 33) at the LLB Group benefited from high-quality dual professional training, which combines theory and practice. The classic basic training remains the main pillar of the development programme for our junior employees. We believe that the provision of a broad education is a key task, especially as through the Federal Vocational Baccalaureate (FVB) it allows young adults to keep their options open to go to a university of applied sciences or a traditional university.
Bachelor, work and study, and master programmes
Since 2014, the LLB Group has had a greater focus on university graduates. There are three different programmes available for candidates: practical-based direct entry for graduates (2019: 4 participants); a work and study programme for postgraduates in the final phase of their studies (2019: 5 participants); and a trainee programme for postgraduates (2019: 4 participants). Talented young people get to know our company in-depth from the inside as part of an eighteen-month on-the-job trainee programme covering three areas of work.
The participants of these three programmes are in contact with top management, are involved in day-to-day business from their very first day of work and profit from the comprehensive spectrum of a universal bank. Those whose demonstrate performance and commitment are recommended for a permanent position.
In order to enhance its profile as an attractive employer, the LLB Group strengthened its presence at the Universities of Liechtenstein and St. Gallen, FHS St. Gallen University of Applied Sciences and Zurich University of Applied Sciences (ZHAW) in Winterthur. We were also represented at the graduate job fair held in Zurich.