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Doing More for Our Employees

Sanlam is a Top Employer

Sanlam was awarded the Top Employers certification for South Africa for the fifth consecutive year – testimony to our ongoing commitment to enhance our employee value proposition (EVP), people and workplace practices to meet shifting employee demands. The certification validates our efforts to keep pace with what people value in terms of culture, connectivity, flexibility, balance, growth opportunities and rewards. The Top Employers human resources best practices survey certified more than 1 500 top companies around the world against global standards.

The Sanlam Employee Value Proposition

Our EVP is agile, fit for purpose, and built on core values and an ethical culture.

Our business philosophy as it relates to our people:

  • Sanlam believes people are its single most important resource. We will therefore not operate in a market unless we have the right people for that market.
  • Sanlam values diversity in its people and will drive strategies which foster this.
  • The Group supports a set of defining core competencies embedded into all roles.
  • The management of people is a leadership function, with management taking full responsibility for their people within an appropriate human resources framework.

Our employee experience is shaped by:

  • A compelling and differentiated EVP
  • A high-performance and values-driven culture
  • A dedicated focus on diversity and inclusion
  • An environment where technology, analytics and digital advancement are prioritised
  • Opportunities for growth, development and mobility across the Group

This year we focused on finding ways to better package and present the total reward statement with an emphasis on highlighting the range of employee benefits. Two new programmes linked to the reward and connectivity pillars of the EVP were launched:

  • The Group recognition programme to enable peer-to-peer recognition
  • An educational assistance programme that offers a pre-tax mechanism to pay school and tertiary fees

Case Study:

Recognising and Rewarding Exceptional Performance and Teamwork

The newly launched Group recognition programme, Applause, recognises and rewards Sanlam’s behavioural core competencies. This means that in addition to focusing on what we do, we are also focusing on how we collaborate, share and grow.

Applause enables a consistent, uniform approach to how we recognise each other across all business units, despite being different and having unique needs. Employees earn e-points when they are recognised by colleagues for specific behavioural competencies. Points can be redeemed as vouchers to be used at any of the reward partners. Business cluster awards will be launched during 2020 and will be used to recognise business specific achievements.

Applause will also have functionality for employees to provide innovative ideas across the Group on how to do things better and more efficiently. This functionality will have a social media element and once an idea has been vetted it will be available for employees to “like and comment”.

All full-time employees have an equal chance of being nominated and winning an award. The programme will form part of the future performance and goals process that will be rolled out in 2020. Employees can participate by accessing Applause via myWorkSpace or the intranet.

Some of the feedback on Applause:

“Many thanks for the initiative and for this wonderful programme.”

“May it go from strength to strength and build a mindset of thanks, appreciation and teamwork throughout the business.”

Case Study:

Educational Assistance for Employees

We introduced an employee educational assistance programme for those earning less than R600 000 per annum in total remuneration. They can now benefit from a South African Revenue Service provision to pay school/university fees for family members as a pre-tax payment through the payroll. Educational fees are deducted as part of the monthly payroll run and paid to the relevant institution through Sanlam’s partner SmartFunder. Employees earning above the threshold can also benefit from preferential fees at certain private schools.

Employee feedback on educational assistance:

“I want to thank the team that brought this programme to us as employees – I save enough per month to allow me to acquire a retirement annuity – something I could not afford before.”

“I appreciate the excellent service provided by this programme in terms of my son’s bursary application. I saved enough on his monthly school fees and would like to recommend it to anyone who needs a savings vehicle for their families and/or relatives’ education in future.”

Enhancing our EVP and Employee Experience Through Technology

The Sanlam Group initiative, myWorkSpace, brings the EVP closer to employees through a platform that enables the management of all people-related matters from one place. In its current form, myWorkSpace is a business transformation programme that simplifies, standardises and automates the Group’s talent management processes. It enables improved decision-making on talent through relevant data and analytics while building improved engagement, Group identity and by supporting talent mobility.

As the programme is rolled out further in 2020, it will include modules relating to performance, learning, succession and compensation.

Retaining Talent for the Future

Key Performance Indicators

New external appointments
 

5 502 (2018: 6 384)

Internal promotions
 

646 (2018: 661)

Total staff turnover
 

26,96% (2018: 27,59%)

Talent management is a key strategic business matter and is designed to ensure we recruit, appoint, retain and develop the most talented employees available in the job market. Retaining top talent primarily depends on opportunities for growth and career advancement. A mindset around managing talent across and for the Group as opposed to within and for the clusters, is a critical leadership competency.

Our targeted attraction efforts include the use of multiple platforms: our career site, online and print publications, videos positioning our culture, university career expos and engagements such as breakfast with targeted talent segments. In addition, LinkedIn is used to position our employee brand through senior leaders who deliver a clear call to action to join Sanlam, as well as sharing messages about what differentiates Sanlam from its competitors. We have also introduced a new talent portal where interested employees can create a profile for themselves on a Sanlam talent site. This can then be accessed and mined by recruiters.

Sources of Recruitment Applications 2019