We are going through a lot of changes as the pandemic continues. Working from home has become a new normal, meetings and lectures have gone virtual. We are living in an era where we can enjoy cultural activities virtually. "Contactless" has become a requirement to protect ourselves from the spread of COVID-19 virus. Companies are also changing the way their employees work, and their corporate culture to respond to the rapidly changing world.
Hyundai Card/Hyundai Capital headquarters has become an exemplary corporate model because of they were quick to adapt to these changes. Hyundai Card/Hyundai Capital moved quickly to take care of their employees’ well-being in the pandemic by allowing them to work from home from the very beginning of the COVID-19 outbreak. Also, the company introduced paid time-off (PTO) program for vaccination in March even before the announcement was made by the government. Hyundai Card/Hyundai Capital is creating a working environment that adapts quickly to current pandemic situation by replacing in-person meetings with video or audio conferences and bringing changes not only to its corporate culture programs designed for its employees, but also to all the areas covering working culture and employee welfare, such as recruiting, onsite clinic, and external event.
Going extra mile for employee protection and health
Before the Korean government announced "vaccination leave" on April 1, 2021, Hyundai Card/Hyundai Capital introduced PTO program for vaccination on March 18, 2021, that all of its employees are eligible for vaccination leave preemptively. Hyundai Card/Hyundai Capital is the first Korean company to introduce such program. Employees are allowed to take the following day of vaccination off since they might experience the side effects in 10-12 hours after getting the shot. Hyundai Card/Hyundai Capital also allows the time they spend to travel, wait and get the shot on the day of the vaccination to be counted as hours worked, so getting vaccinated would not add to the burden on them.
At the headquarters, there is an onsite clinic called “the Clinic” where employees can make an online appointment to see a doctor without travelling to a doctor’s office outside the office. At “the Clinic,” a doctor, nurses and a physical therapist provide clinical examination, medical prescription and physical therapy. With the revision of Infectious Disease Control and Prevention Act, “the Clinic” offers virtual care services to employees who were hesitant to visit a doctor, were not able to visit because they were working from home, were not able to access the Clinic’s medical services because they were working at a regional branch. In particular, when employees get a prescription and need to take the medication every day for a long time or get transferred to a different location, “the Clinic” can offer consistent care.
“When you talk to a patient over the phone, you can focus on counseling fast," said Doctor Wonjoo Cho at “the Clinic.” "In particular, when you use video conferencing, one of the benefits is that you can talk to a patient while sharing your screen to take a look at the medical check-up results or health educational content together with the patient.”
Hyundai Card/Hyundai Capital also offers virtual counselling services not only to employees, but also their family members who suffer from depression as they continue to work from home and get more mental and physical stress. Hyundai Card/Hyundai Capital employees and their family members can choose either a 50-minute virtual counselling (Zoom) or a 30-minute phone call and the service is offered free of charge up to four sessions per person.
Hyundai Card/Hyundai Capital offers virtual fitness programs even during the pandemic to help its employees keep themselves healthy. Online Fit Camp is a virtual home training program which gets broadcast during lunch hours and in the evening via video conferencing platform. Employees can choose any program to join with their family members at home when they work from home, for example, yoga, pilates, step box, circling, band and stretching programs. Online Fit Camp is popular among employees.
Hyundai Card/Hyundai Capital runs Online Fit Camp, a home training program to help its employee take care of their health.
Virtual hiring processes are take hold
Now virtual hiring has become common due to the pandemic, Hyundai Card/Hyundai Capital introduced virtual hiring for internal placement, too.
Hyundai Card/Hyundai Capital recently recruited interns virtually and utilized the "AI-enabled online test" consisting of virtual interview, online aptitude test and capability analysis game to interview candidates. The online test identifies a candidate’s response time, type and direction of a decision, problem solving skills, learning speed, by having 10 various capability analysis games, which the recruiting team uses AI results as reference make hiring decisions. Hyundai Card/Hyundai Capital internship is not only recruiting interns virtually, but also is conducting interviews using AI system to hire contract employees virtually.
Also, Hyundai Card/Hyundai Capital created an online waiting room for virtual interviews to help candidates focus better during the interviews, which was well-received by candidates. It prevented occurrence of technical issues that could take place during an interview and made sure candidates had enough time to adapt to the online interview environment before the start of the interview.
Hyundai Card/Hyundai Capital recruiting team conducting a virtual interview with internship candidates
Hyundai Card/Hyundai Capital has utilized virtual hiring for internal placement since the beginning of COVID-19 pandemic. Its new hires have chosen a team to work for based on their own intention or preference via internal "Job Fair". In other words, Job Fair is an arrangement which allows teams to introduce themselves to new hires and new hires to apply for a team they want to work for. This year Job Fair was done virtually where new hires participated in team introduction sessions to learn and ask questions before applying for a team they want to work for.
In addition, Hyundai Card/Hyundai Capital held "Career Market" where employees can initiate their own transfer to another team, if they meet certain qualifications. Career Market is a career development system based on market principles that allows employees to "put themselves up for sale" in the internal job market and choose a team they want to work for and also teams can attract talent they want, without human resources team deciding placement of employees unilaterally. The Market was held virtually for the first time this year. Employees could join online team introduction sessions and Q&A and apply for a transfer via a video conferencing platform. Hyundai Card/Hyundai Capital will continue virtual Career Market even after the end of the pandemic.
The way of working needs to change, too
Hyundai Card/Hyundai Capital is making effort to set up the infrastructure and improve work efficiency to respond to changes in the working environment where working from home and video conferencing have become a part of our daily life due to the pandemic.
Hyundai Card/Hyundai Capital created 54 additional video conferencing rooms from only six when the pandemic started, providing the most optimized digital working environment for employees. Now all Hyundai Card/Hyundai Capital employees are working a couple of days a week from home and in-person meetings are replaced with video or audio conferences.
Hyundai Capital held a virtual IR meeting with 130 institutional investors and analysts home and abroad on May 3.
Thanks to the company’s digital infrastructure, Hyundai Capital was able to successfully host a virtual IR (Investor Relations) meeting on May 3. It invited about 130 institutional investors and analysts from home and abroad to a virtual meeting room and shared its 2020 performance and 2021 key strategies.
“It was the biggest virtual IR meeting held ever among Korean financial companies. The virtual meeting overcame limitations of in-person IR and increased our credibility among investors by providing a more transparent and proactive communication,” said a spokesperson at Hyundai Card/Hyundai Capital.
With the end of the COVID-19 pandemic, companies will go back to how they used to work before. Nevertheless, Hyundai Card/Hyundai Capital believes that only the companies which can continue to innovate and adapt to the rapidly changing time will excel in the future.