This IsDB Group Science Technology and Innovation (STI) internal competition, launched by the STI Department is designed to promote mainstreaming the benefits of STI within the Group operations.
It aims to recognize talents and skills at work environment while also helping the colleagues scale up innovative ideas in the Group. The competition is open to all colleagues at the IsDB Group in all duty stations irrespective of positions or types of contract and is meant to facilitate expression of innovative ideas that could improve the working environment of the bank by making it more healthy, conducive and collaborative in order to spearhead achieving the mission and the vision of the IsDB Group Chairman.
The IsDB Group 2021 STI internal competition would focus on: ‘Leveraging innovation for business continuity and streamlining business processes.’
The IsDB Group internal STI competition is intended to recognize, encourage, inspire & reward top innovative ideas by all IsDB Group colleagues improving effective interaction and communication with colleagues and stakeholders contributing to:
ENHANCED PRODUCTIVITY & EFFICIENCY - through (i) improved communication facilities that enhance interaction with member countries and counterparts to offer them higher quality products and services and (ii) employing or adopting innovative high-quality technologies and/or modern processes that will allow employees to deliver timely client-centered, quality services with emphasis on shortening development project cycles.
HYGIENICALLY SAFER WORKING ENVIRONMENT - through adopting innovative technologies, applications and equipment that can create a safer work environment. This might include means of preventing the spread of contagious diseases at workplace.
The competition shall be open to all the members including staff, consultants, and contractors that are associated with IsDB Group. It would be an opportunity to recognise the best talents and ideas that would improve the functioning of the Bank post COVID-19. The idea could relate to any areas of improvement in the organization that are in accordance with the theme.CLOSED
The winning proposals will be those innovative ideas which best address the following five criteria:
Innovativeness: How unique the idea/initiative is in terms of its concept, process and implementation feasibility?
Impact/Results: Will the idea/initiative produce clear and measurable results that are likely to create an impact on IsDB Group’s regular operations?
Replicability: Does the idea/initiative have elements that ensure its replicability in other areas of IsDB Group activities?
Sustainability: How much support would be needed to ensure the continuity of the idea/initiative?
Practicality: Is the idea feasible in terms of the planning, resources, and budget?
Submission of innovative ideas/initiatives:
The IsDB Group colleagues will have one month from the day of launching the competition to submit information about their ideas through the Engage platform, capturing the following:
- Title of the initiative.
- Description of the idea.
- Innovative aspects of the idea.
- Replicability and sustanibility of the project/initiative.
- Detailed plan to implement the idea.
- Estimated budget required for implementation.
The colleagues will need to fill in the online Application Form available on the internal IsDB portal "Engage”. Link to access the application form will be sent to all staff via email.
The evaluation process will last for a month. Proposals will be evaluated by a panel of judges assigned by the management. The panel of judges will shortlist the 10 most innovative ideas and identify 3 most innovative ideas as the winners.
Communication on the competition:
Several communication channels will be used to inform the colleagues about the competition and encourage them to participate wholeheartedly. Posters, flyers, emails and social media advertisement will be produced for this purpose.
Proposed Reward Scheme
While various types of reward schemes are anticipated for the competition, a monetary reward of US$ 5,000 is considered for the top three winners.
The winners would also be granted the opportunity to present their ideas in front of the management.
Monetary reward of $5,000 for top three winners.
The winners would also have an opportunity to present his/her ideas in front of the management.
The awards will be conferred upon the winners in a special ceremony inaugurated by IsDB President and Chairman of IsDB Group, H.E. Dr. Muhammad Al Jasser, in the presence of senior Group management and staff. External guests may also be invited to attend the ceremony. The top 3 most innovative ideas would be presented on the Engage platform and would receive certificates of accomplishment.