Giants winner says it’s all about keeping promises
F INANCIAL services company, Old Mutual emerged as this year’s best South African employer in the ‘Giants’ category and among the top seven employers in Africa because of its people strategy.
The CRF says that Old Mutual has delivered on a promise to be ‘a great place to work with people who do great things’. Anisha Archary, Human Resources Director says “We understand that it is our people who make our vision and our business strategy come alive. It is why we have a strong focus on developing their skills and overall wellbeing, rewarding them and creating a culture that is caring, transforming, values led and customer centric.”
She says the CRF recognition will spur the company on in its efforts to consistently be the employer of choice in the other emerging markets in which it does business – Namibia, Zimbabwe, Kenya, Nigeria, Swaziland, Malawi, Colombia, Mexico, India and China.
“Apart from competitive reward offerings that include global career opportunities, we offer benefits and facilities that make it possible for every individual to perform to the best of his or her ability.,” she explains.
Developing and retaining the best talent is so crucial to the company’s growth strategy that it looks five years down the road to see what talent will be required. In addition, the top executive team holds talent discussions about employees from middle management and above. Potential high fliers ar e identified and placed on international development programmes and other leadership initiatives.
Archary adds, “There is an abundance of opportunities for staff to improve their skills and broaden their knowledge. Training and development are delivered through the Old Mutual Business School, and opportunities to work abroad abound.”
The emerging markets’ growth strategy has led to a sharpened focus on talent identification, development and retention.
“With growth comes the demand for talented people to execute those growth strategies, and for seamless transitions at management level as we expand,” says she. “We are driven to grow brilliant business leaders who will contribute to true transformation.’
There is a wide range of development programmes and education opportunities.
‘For those who are talented, ambitious and committed, the sky’s the limit,’ says Archary. “Through our business school employees can learn about anything from conflict management to how to speak Mandarin.”
Employees with leadership potential are invited to attend international development programmes.
A flexible approach to remuneration and rewards is designed to drive a high-performance, customer- centric culture. Employees receive a total guaranteed package that they can structure according to their needs. This includes variable leave of between 17 and 27 days a year.
All staff members are eligible for an annual short-term incentive bonus, based on company and personal performance. There is now one variable pay pool across the entire emerging markets business.
A strong variable pay component is based on the principle of sharing of success. As the business becomes successful, employees share in that success. And long-term incentives are paid in the form of shares which are available to managers and also through the BEE share scheme.
The company offers flexible working hours, medical aid, life assurance, retirement funding,