create a brighter future together - zurich insurance group
TRANSCRIPT
Create a brighter Future togetherThis is Zurich – HR Factbook 2020
Growing together 3
Overview 5
Diversity & Inclusion, Employee Wellbeing and Employee Experience 7
– Diversity & Inclusion 7
– Employee Wellbeing 14
– Employee Experience 17
Integrated talent management 21
– Learning & Development 22
– Executive Development 24
– Talent Acquisition 26
– Talent Management 27
Total Rewards 29
Work Sustainability 31
Glossary 33
Disclaimer 34
We use the following abbreviations in this factbook.
Europe, Middle East & Africa, Asia Pacific. Corporate Center, North America, Latin America
LATAMNACCAPACEMEA
Contents
Growing together
Overview
Diversity & Inclusion, Employee Wellbeing and Employee Experience
Integrated talent management
Total Rewards
Work Sustainability
Glossary
Disclaimer
2
Growing together!
We are committed to growing together with our people. Creating a sustainable work environment that values diversity, is inclusive and where employees can thrive, is at the heart of our people strategy. Especially during the unprecedented times of the COVID-19 pandemic, we have made it our top priority to protect and support our people, customers, partners and communities when it matters most.
As our world and industry continue to change in fundamental ways, we are looking further into how different roles are evolving and what skills are needed to best address diverse customer and employee needs of the future. Our goal is to support our people in building their career paths today and in the future.
Our commitment to a thriving, sustainable and inclusive work environment hasn’t wavered as the world of work has transformed at a pace no one predicted before a global pandemic arrived. A foundation of support and encouragement already in place has served our people well as they remain dedicated to meeting our customers’ needs despite whatever challenges arise.
The world of work was reordered in many ways as the pandemic took hold in 2020. Employers operated under extreme and unforeseen conditions that called for quick decisions on how to support employees as they adapted to a remote work environment and ensure that they could continue to serve customers. Our focus on stability and a sustainable workplace remained sharp, and we kept employee wellbeing high on our people strategy.
Contents
Growing together
Overview
Diversity & Inclusion, Employee Wellbeing and Employee Experience
Integrated talent management
Total Rewards
Work Sustainability
Glossary
Disclaimer
3
Supporting employees through the pandemicWellbeing of our employees is an area we have focused on strongly in recent years, stepping up our efforts during the pandemic to address health challenges to our people, their families and the wider communities where we live and work. As the pandemic created unprecedented challenges to protecting our people, we were prepared the meet them with a solid commitment to ensuring that our employees remained safe and healthy.
Our approach to supporting our people during the pandemic has been comprehensive and holistic, focusing on their entire wellbeing. Examples of the steps we took as the crisis unfolded were those that addressed:
Physical wellbeing: We introduced a benefit that provided support for employees or family members hospitalized due to COVID-19. Extensive testing was also made available.
Social wellbeing: People were kept engaged through new uses of technology and social media, creating a sense of connectivity during lockdowns under the banner of our Zurich Never Stops approach.
Financial wellbeing: Layoffs and furloughs were avoided as we managed the supply and demand of work so that employees could be moved to areas where their skills were most needed. Rapid reskilling allowed some to take on work that was previously outsourced.
Mental wellbeing: A People Manager Toolkit was developed to help managers stay engaged with their teams working remotely, combatting the feeling of isolation.
New employee assistance and counseling programs were put in place in regions and countries to address physical, mental and financial challenges created by the pandemic.
While these are just a few of the steps we’ve taken, they illustrate how we kept our people at the front and center of everything we have done to continue our work during the pandemic. It’s a genuine people-first strategy that I believe our employees recognize and appreciate.
New ways of workingWe have defined new ways of working in a world that demanded employees stay home. With a robust focus on wellbeing and support already in place, we put a big emphasis on making sure our employees stayed connected and able to thrive while apart from colleagues. Our longstanding Flexwork@Zurich programs have helped individuals shape their working hours to fit their lifestyles while continuing to meet customer needs.
Best practices are shared through a global community to help create a healthy work environment and reduce the stigma of stress-related challenges.
A sustainable workplaceEven before COVID-19, we were addressing challenges to employee wellbeing on a global scale. The digital transformation of the workplace served to heighten interconnectivity and employees found they were working faster and in need of new skills. There were societal developments to deal with – job instability and shifting political landscapes among them. Mental health issues began to surface more frequently.
In the face of these challenges, we have relied on our work sustainability principles that focus on prioritizing development of our people rather than hiring externally; supporting our people with needed skills; keeping jobs in-house and offering career choices that match talent, ambition and market needs. To bring these principles to life, we are concentrating on:
• Workforce planning: Identifying people, skills and capabilities required to deliver on business needs
• Reskilling and upskilling: Developing skills required for success, many of which are needed much sooner
than expected. Providing our employees with proper skills training is part of our commitment to develop our people, rather than hiring externally to fill needs that arise in the changing workplace
• Talent mobility: Deploying people in jobs in line with business needs and career ambitions
• Learner Experience: Supporting a learning & development culture
• Thought leadership: Pioneering expertise through association and dialogue with external organizations
Digitalization brings benefitsWith a strong focus on learning & development, we have made big strides in digital platforms that support our employees and managers. We launched MyDevelopment, offering more than 16,500 LinkedIn Learning courses in seven languages. The platform was recognized as a bronze winner in Brandon Hall Group’s “Excellence in Human Capital Management” awards.
And, Zurich’s concern for wellbeing extends to its customers with the launch of LiveWell as part of its Global Business Platforms unit, which focuses on digital platforms and solutions. LiveWell allows users to upload activity from wearable devices and gives advice on fitness, nutrition and healthy living. It’s how we empower customers to improve their physical and mental wellbeing, all through a mobile device.
We remain committed to making a difference – for our employees and customers – as we continue to navigate through a world where change is coming faster than ever. With the support of a caring employer, our people are well-equipped to chart their success while remaining confident that their wellbeing is among our highest priorities.
David Henderson, Group Chief Human Resources Officer (CHRO)
Contents
Growing together
Overview
Diversity & Inclusion, Employee Wellbeing and Employee Experience
Integrated talent management
Total Rewards
Work Sustainability
Glossary
Disclaimer
4
127 Nationalities
Zurich Insurance Group (Zurich) is a leading multi-line insurer operating globally and locally, meeting our customers’ needs in more than 215 countries and territories. Since our founding in Zurich, Switzerland in 1872, we have applied our expertise and experience to providing customers with the best protection for the things they value. Our customers include individuals, small businesses, mid-sized and large companies as well as multinational corporations.
* All demographics used in this booklet are based on 53’036 employees (Total Headcount Excluding Farmers Exchanges, Bolivia and CoverMore). Amounts are rounded to the nearest million unless otherwise stated, with the consequence that the rounded amounts may not always add up to the rounded total. All ratios and variances are calculated using the underlying amounts rather than the rounded amounts. 46.8% of our employees are covered by an independent trade union or collective bargaining agreement.
** Annual report 2020
Global data
Overview
Employees
55,000* Products and services are available in
215 countries**
Average age
42.8 years Women 42.3
Men 43.4Representation
Female
51.1%
Male
48.9%
Contents
Growing together
Overview
Diversity & Inclusion, Employee Wellbeing and Employee Experience
Integrated talent management
Total Rewards
Work Sustainability
Glossary
Disclaimer
5
Number of employees in each region
Number of employees in each region
Number of employees in each region
Overview
Region % Female % Male
Total 51.1 48.9
EMEA 47.3 52.7
APAC 58.3 41.7
CC 39.7 60.3
NA 51.9 48.1
LATAM 56.4 43.6
Region % Female % Male
Total 51.1 48.9
EMEA 47.1 52.9
APAC 57.3 42.7
CC 41.6 58.4
NA 52.2 47.8
LATAM 56.3 47.8
Region % Female % Male
Total 50.7 49.3
EMEA 47.1 52.9
APAC 56.6 43.4
CC 40.7 59.3
NA 52.0 48.0
LATAM 55.4 44.6
2020
2019
2018
Most common nationalities at Corporate Center
1 Switzerland
2 Germany
3 UK
4 Italy
5 Spain
6 France
7 Poland
8 US
9 Greece
10 Netherlands
72 Number of nationalities at Corporate Center
51 nationalities in our executive population (across career level C & D globally)
EMEA20,891
APAC5,294CC
1,211
NA16,050
LATAM7,388
Total 50,834Total employees
EMEA20,412
APAC6,098
CC1,270
NA17,221
LATAM7,171
Total 52,163Total employees
EMEA20,640
CC1,493
NA17,234
LATAM6,755
Total 53,036Total employees
APAC6,914
Contents
Growing together
Overview
Diversity & Inclusion, Employee Wellbeing and Employee Experience
Integrated talent management
Total Rewards
Work Sustainability
Glossary
Disclaimer
6
Our People are the heart and soul of Zurich and together we are committed to delivering on our purpose – Let’s Create a Brighter Future Together. A brighter future where our voices are diverse, our behaviors are inclusive, our actions drive equity, and our people feel a sense of belonging.
At Zurich, our shared commitment reinforces a culture in which collaboration, curiosity, agility, and lifelong learning ensures that the future belongs to everyone and is achieved together.
We aspire to a future where we are known as not just an insurer, but a purposeful, values driven organization. An organization that delivers a unique employee and customer experience, improves social conditions and creates a brighter future together with our stakeholders.
We can aspire to this future by maximizing and celebrating the diversity and inclusiveness of our people.
Diversity & Inclusion, Employee Wellbeing and Employee Experience
Contents
Growing together
Overview
Diversity & Inclusion, Employee Wellbeing and Employee Experience
Integrated talent management
Total Rewards
Work Sustainability
Glossary
Disclaimer
7
A diverse and inclusive workforce strengthens our business. Diversity and inclusion at all levels of Zurich are crucial for an innovative and customer-centric company. It will lead us to a brighter future.
Laurence Maurice, CEO Latin America
Diversity in Action: USA (ZNA and Farmers Management)
Ethnicity % of managers
% of total employees
American Indian / Alaskan Native 0.3 0.3
Asian 10.2 10.1
Black or African American 5.6 7.7
Hispanic or Latino 4.8 6.6
Native Hawaiian or Pacific Islander 0.1 0.3
Two or More Ethnicities (Not Hispanic or Latino)
1.3 2.3
White 77.5 71.9
2020 recognitions across Zurich*
Zurich North Americais included on the Forbes 2020 list of America’s Best Employers for Diversity
Zurich Germanyjoined the “Charta der Vielfalt” to show commitment to a respectful and non-discriminatory working environment
Zurich Brazilis one of the most diverse companies in the country according to the Exame Diversity Guide
*this is not an exhaustive list
6 female and 5 male Board of Directors.
Global Highlight
54.6% 45.4%
Diversity & Inclusion, Employee Wellbeing and Employee Experience
Contents
Growing together
Overview
Diversity & Inclusion, Employee Wellbeing and Employee Experience
Integrated talent management
Total Rewards
Work Sustainability
Glossary
Disclaimer
8
We take pride in the diversity of our people. It’s part of making Zurich an employer of choice, while helping us drive innovation and maintain a competitive edge.
The main goal for Zurich is to continue devoting time, capital, and management attention, and to ensure that Zurich run the diversity & inclusion efforts not as a separate initiative but as an initiative integrated into everything that Zurich does and every decision that its leaders make. Moreover, some changes that the pandemic made necessary – in particular, remote work – create an opportunity to reimagine how work gets done, resetting norms and building diversity & inclusion into the new reality of work.
At Zurich, we aspire to be one of the most responsible and impactful businesses in the world, and one important action towards achieving this ambition is to strive for Equal Pay for Equivalent Work. We strongly believe that gender should not have anything to do with the money you earn. Read more about our pay equality efforts.
While we have key areas and initiatives at a global level, regions and countries have the flexibility to target and address specific issues that are unique to them.
For Zurich, diversity also means embracing the different perspectives that our people bring and capitalizing on the value of these different views and opinions.
To learn more about the latest recognition that Zurich has received visit Diversity & Inclusion | Zurich Insurance
Global Family Care GuidelinesZurich wants to further underscore its role as an attractive and future-oriented employer and to promote equal rights. Zurich expanded on that commitment by embedding new measures into the diversity & inclusion strategy, that promote equality, such as offering caregivers leave and going beyond statutory requirements for parental leave.
In 2019 Zurich introduced our principles around parental leave policies globally, specifically that paid leave should in principle be available to anyone who becomes a new parent, regardless of gender, and that there would generally be 16 weeks of paid leave for a primary parent and 6 weeks of paid leave for a co-parent. Zurich aims to implement these principles in mid-2021.
At Zurich, we recognize that every family is unique and balancing responsibilities is important to all of us. The new approach reflects Zurich’s global aspiration to create a fair, diverse and inclusive workplace with progressive and flexible support for all employees.
Zurich Australia introduced the new policy in December 2020, extending leave to all circumstances including birth, in vitro fertilization, surrogacy, adoption, miscarriage and still birth. In addition to paid parental leave, superannuation contributions on unpaid leave are provided for primary parents. This is a significant change as it will help reduce the retirement savings ‘super gap’ typically experienced by women and support more equitable outcomes of retirement savings over time.
OverviewSpotlight
If we want to achieve greater equity in the world of work and society, then it is important that we acknowledge that every family is different and that all parents regardless of gender, gender identity, sexual orientation or similar demographics have the option to take paid leave as they welcome new family members or manage circumstances related to family care.”
Vanessa Town, Talent & People Development Manager
Diversity & Inclusion, Employee Wellbeing and Employee Experience
Contents
Growing together
Overview
Diversity & Inclusion, Employee Wellbeing and Employee Experience
Integrated talent management
Total Rewards
Work Sustainability
Glossary
Disclaimer
9
In the insurance sector, not only are we focused on driving profitable growth, but with digital disruption and new entrants in the market, innovation is a must-have to remain competitive and even relevant.
Having a diverse workforce enables insurance companies to better meet the needs of their diverse customer base.
Zurich does not treat diversity & inclusion as a one-off initiative but tries to embed it into everything we do. Business as usual at Zurich means ensuring that we integrate diversity & inclusion in our processes so that we can make a sustainable impact.
The pandemic has skewed our working life towards remote mode to the extreme, but along with the challenges it has created, there are opportunities.
In 2021, we will continue amplifying our employees’ voices by shaping the agenda together with our global Employee Resource Groups.
We remain committed to a gender balance across career levels. We closely monitor our practices for hiring and promoting our people to ensure that these processes are fair and reflect our ambition to maintain a diverse workforce with the skills to best serve our customers.
As a global company, striving for a diverse and inclusive workforce is a business imperative.
Outlook
Diversity & Inclusion, Employee Wellbeing and Employee Experience
Contents
Growing together
Overview
Diversity & Inclusion, Employee Wellbeing and Employee Experience
Integrated talent management
Total Rewards
Work Sustainability
Glossary
Disclaimer
10
Global workforce*
as of December 31, 2020
*please also see definitions in the glossary (page 33)
Percentage of the company’s junior management positions.
Percentage of the company’s workforce.
Percentage of the company’s senior
management.
Percentage of the company’s managers.
Percentage of the company’s
revenue-producing roles.
Percentage of the company’s STEM
workforce.
49.7% Men
50.3%Women
53.6% Men
46.4%Women
67.2% Men
32.9%Women
63.1% Men
36.9%Women
67.4% Men
32.6%Women
61.1% Men
38.9%Women
Diversity & Inclusion, Employee Wellbeing and Employee Experience
Contents
Growing together
Overview
Diversity & Inclusion, Employee Wellbeing and Employee Experience
Integrated talent management
Total Rewards
Work Sustainability
Glossary
Disclaimer
11
2018
Gender representation at senior management level:
Region People manager % female
Individual contributor % female
Total 38.9 52.6
EMEA 35.71 49.4
APAC 39.01 55.2
CC 26.81 43.9
NA 43.30 53.5
LATAM 42.71 59.4
2019
2020
Region People manager % female
Individual contributor % female
Total 39.4 53.4
EMEA 34.6 49.4
APAC 43.9 60.8
CC 24.6 47
NA 43.3 53.6
LATAM 42.7 59.2
Region People manager % female
Individual contributor % female
Total 38.4 53.0
EMEA 33.5 49.2
APAC 43 60.4
CC 24.3 45.9
NA 41.4 53.6
LATAM 41 58.3
% people manager and individual contributor by region
EMEA17,470
APAC5,463
CC1,120
NA14,625
LATAM5,521
Total 44,199Individual contributor
APAC: CC: EMEA: LATAM:NA:
EMEA3,167
APAC1,451CC
373
NA2,609
LATAM1,234
Total 8,834People manager
EMEA17,248
APAC4,824
CC961
NA14,627
LATAM5,922
Total 43,582Individual contributor
EMEA17,721
APAC4,159
CC919
NA13,597
LATAM6,123
Total 42,519Individual contributor
EMEA3,164
APAC1,274
CC309
NA2,594
LATAM1,240
Total 8,581People manager
EMEA3,169
APAC1,135
CC292
NA2,450
LATAM1,265
Total 8,311People manager
Diversity & Inclusion, Employee Wellbeing and Employee Experience
Contents
Growing together
Overview
Diversity & Inclusion, Employee Wellbeing and Employee Experience
Integrated talent management
Total Rewards
Work Sustainability
Glossary
Disclaimer
12
Up to 2916.74%
30 to 4956.71%
50 or more26.55%
% of TotalHeadcount
Age in years
Average Age by Gender and Region
Female MaleAverage 42.34 Average 43.35
0
10
20
30
40
50
41.4 39.52 41.85 45.78 39.92 43.62 40.88 44.02 45.22 39.63
Female MaleTotal 41.99 Total 43.02
0
10
20
30
40
50
41.06 39.22 41.99 45.21 39.43 43.46 40.73 43.58 44.62 39.1
Female MaleTotal 41.97 Total 43.05
0
10
20
30
40
50
41.24 39.16 41.9 45.37 38.85 43.49 40.49 43.51 44.89 38.94
2020 2019 2018
LATAMNACCAPACEMEA
Age distribution globally
Average age:
42.75
Age distribution
Diversity & Inclusion, Employee Wellbeing and Employee Experience
Contents
Growing together
Overview
Diversity & Inclusion, Employee Wellbeing and Employee Experience
Integrated talent management
Total Rewards
Work Sustainability
Glossary
Disclaimer
13
The health and wellbeing of all our employees is paramount at Zurich and we want to take care of our people to the best possible extent.
Zurich is committed to providing an energizing and motivating work environment where employees can thrive, their talents can be developed and they can feel valued. We believe our employees should be able to find a suitable work/life balance.
Whether it is physical, social, mental or financial wellbeing, our aim is to support our people to feel happy and fulfilled.
At Zurich, wellbeing is about employees that are healthy, happy and motivated in their work. Long before COVID-19, we realized that there are a number of workplace and work environment challenges which are impacting employees’ wellbeing, in part from the digital transformation of the workplace (highly increased interconnectivity, new skills required, faster work pace), on top of other societal developments, including increasing job instability and a challenging political landscape.
In response, Zurich developed a Global Wellbeing Toolkit that provides individuals with the tools and awareness to take action to improve their wellbeing. It’s a holistic framework that is applied across Zurich with global direction and local implementation to meet the different needs of our people.
Actions range from advice on the benefits of physical exercise and healthy eating to connecting people as a way to promote a feeling of inclusion. In addition, we are promoting flexible working and offering mindfulness sessions and financial workshops on topics such as budgeting and saving.
Wellbeing of our employees has been a focus for Zurich in recent years and we have stepped up our efforts during the pandemic in order to address the health challenges it has posed to our employees, their families and the wider communities we support.
We have also adapted our workplaces and working practices, such as social distancing measures, reduced occupancy levels, enhanced cleaning schedules, and provision of hand sanitization and face masks, to continue to protect the health and safety of our employees.
Overview
Employee Wellbeing
“The wellbeing of our colleagues is at the heart of our strategy to be a sustainable business. We support them to be at their best physically and mentally, and by offering rewarding work and opportunities to learn. We also create an environment where our colleagues feel part of a community and care for each other.”
Mario Greco, Group Chief Executive Officer
Across Zurich 7% of the employees work part time
2020 Achievements across Zurich*Zurich Canadarecognized as a Top Insurance Workplace by Insurance Business Canada based on a number of metrics including employee wellbeing
Zurich Spain & Italy is certified Top Employer
3.6 average sick leave days per employee
*only few achievement listed
Contents
Growing together
Overview
Diversity & Inclusion, Employee Wellbeing and Employee Experience
Integrated talent management
Total Rewards
Work Sustainability
Glossary
Disclaimer
14
Many of the programs are also relevant in addressing the challenges of the pandemic. In particular, those aimed at supporting mental health. Most of our local businesses have shared that given the current issues at hand, they have accelerated their plans for the year and are re-prioritizing budgets as much as possible to focus on mental health initiatives.
The pandemic is changing the conversations we have around work, social interactions, community safety, personal responsibility, and obligations to others. It’s also changing the conversations around wellbeing and health in the workplace.
Wellbeing and health at work is now coming to the forefront as employees seek help for wellbeing and health-related issues.
In addition, there is a strong emphasis on providing learning content to all employees, focusing on working from home, managing stress and anxiety, how to collaborate and how to stay in contact remotely. There is also a strong focus on people managers and ensuring they have all the resources they need.
To find out more about the global employee wellbeing framework and initiatives across Zurich, please visit: Employee Wellbeing | Zurich Insurance
Across Zurich our increasing focus on wellbeing was comprehensive in 2020. This strengthened our view that at Zurich, the health and wellbeing of all our employees is paramount and we want to take care of our people, wherever they are in the world. One example is the Zurich Hospitalization benefit. Zurich has offered all employees financial support to help reduce stress if an employee or family member is hospitalized due to circumstances related to COVID-19.
In 2020 we took particular steps to focus on what people need when they feel unwell, lonely, overwhelmed or simply need friendly advice. Teaming up with LiveWell to take our wellbeing approach one step further for employees, we offer a mix of personal tools, educational content and wellbeing initiatives that help them feel healthy, self-confident and empowered. It is great to partner with LiveWell to bring early access to innovative and evidence-led health and wellbeing services through pilots being rolled out in some countries across Zurich.
Through the LiveWell app, Zurich has the chance to improve and maintain employee wellbeing in the best possible way and pinpoint areas of our physical, mental, social and financial health that we want to work on.
Spotlight Outlook
By getting priority access to LiveWell’s holistic and innovative solution we have the opportunity to collect feedback on what users like about the app as well as gather insights about what we could improve to really make an impact on health and wellbeing.”
Aoife O’Shea, Regional Head of Talent Development and Wellbeing Lead EMEA
Employee Wellbeing
Contents
Growing together
Overview
Diversity & Inclusion, Employee Wellbeing and Employee Experience
Integrated talent management
Total Rewards
Work Sustainability
Glossary
Disclaimer
15
Percentage of Full/Part-time employees by gender and region
Female MaleTotal 45% Total 47%
0
20
40
60
80
100
35% 51% 29% 51% 55% 50% 42% 54% 47% 43%
Female MaleTotal 45% Total 48%
0
20
40
60
80
100
35% 52% 28% 51% 54% 51% 43% 56% 47% 44%
Female MaleTotal 6% Total 2%
0
3
6
9
12
15
12% 6% 13% 1% 1% 2% 1% 4% 1% 1%
Female MaleTotal 6% Total 1%
0
3
6
9
12
15
12% 5% 13% 1% 2% 1% 4% 1%1%
2019
2018
Female MaleTotal 45% Total 47%
0
20
40
60
80
100
36% 52% 29% 51% 55% 50% 41% 56% 47% 43%
Female MaleTotal 6% Total 2%
0
3
6
9
12
15
12% 7% 11% 1% 1% 3% 1% 4% 1% 1%
2020
Full-time employees
Full-time employees
Part-time employees
Part-time employees
Part-time employeesFull-time employees
LATAMNACCAPACEMEA
LATAMNACCAPACEMEA
LATAMNACCAPACEMEA
Employee Wellbeing
Contents
Growing together
Overview
Diversity & Inclusion, Employee Wellbeing and Employee Experience
Integrated talent management
Total Rewards
Work Sustainability
Glossary
Disclaimer
16
Zurich’s purpose “creating a brighter future together” is brought to life through our employee promise “Let’s Grow Together.”
We deliver on our employee promise through 5 moments that matter to every employee throughout their career at Zurich. The moments were finalized in 2020 through work with a diverse, cross-functional employee team and include:
1. My first year
2. My growth
3. My contribution
4. My wellbeing
5. My work environment
Since the first Employee Net Promoter Survey in 2018, we have seen a continuous increase in both participation and score. In 2020, we achieved an employee net promoter score of +52 (2019: +30) and an 84% participation rate (2019: 77%). In addition, we ran the Organizational Health Index survey, which is a long-term measure of how an organization aligns, executes, and renews itself to sustainably achieve its aspirations. The score improved by 18 points and placed us within the top quartile and on the cusp of the top decile in the insurance industry benchmark.
My First YearMy Growth
My Wellbeing
My Work EnvironmentMy
Contribution
Our employee promise ’Lets grow together’ was front and center in our engagement with employees in these challenging times. Staying true to our promise, we prioritized the safety and needs of our employees and their families within the new realities of our work and life brought about by COVID-19.
Going forward, we are focused on supporting employees and their families, with a special emphasis on My Wellbeing, My Growth and My Work Environment. We are preparing for a hybrid working environment which seeks to focus on collaboration, team spirit and a positive culture, while supporting the
wellbeing of our people by helping them balance personal and work-related priorities effectively.
In 2021, we are looking to further develop our employee listening strategy to allow us to conduct targeted interventions within pockets of the organization. This will enable us to understand themes better and how we best can address them. Following our OHI survey in 2020, action planning and implementation will be among the key deliverables alongside our twice yearly ENPS survey.
Outlook
Overview
Employee Experience
Contents
Growing together
Overview
Diversity & Inclusion, Employee Wellbeing and Employee Experience
Integrated talent management
Total Rewards
Work Sustainability
Glossary
Disclaimer
17
Listening, learning and taking action to improve employee engagement in the UK
In the UK, we’ve seen significant improvement in our eNPS and OHI scores over recent years. This is a result of our focus on listening carefully to what our employees tell us and taking clear actions as a result. We’re proud of how far we’ve come, and the renewed positivity we see and feel in the UK business.
In 2017, the OHI survey results saw us in the bottom quartile and the feedback was honest, straightforward and in places, tough to read. We weren’t where we needed to be, and that was uncomfortable. We’d been through significant structural transformation and our people were feeling the effects.
To move the dial, we knew we needed to understand the results better, and we set up an ‘OHI council’ network. This group of employees, consisting of people from all levels of the organization, locations and backgrounds ensured we got true representation and a diverse outlook on what it was really like to work for Zurich in the UK. The council has been instrumental in getting to the core of what our employees are thinking and, most importantly, they have autonomy to make improvements where they see opportunity.
The 2017 OHI survey results, along with input from our council, immediately encouraged us to consider:
· simplifying how we articulated our UK strategic priorities
· refreshing our employee benefits package
· launching a UK-wide recognition scheme
Alongside, it was clear that we also need to update and transform all our people policies. We spent time looking at content and language used in our policies and explored if they were really people focused. We reworked all of our policies and introduced our ‘Family Friendly’ policy, which saw us equalize maternity and paternity leave and look at how we treat people who were starting a family, no matter what their situation. Our policy, the easy to use nature of it, and how it’s genuinely supported our people has had some fantastic feedback and colleagues have shared some heartwarming stories as a result.
In the most recent eNPS wave, every area of the UK business saw an improvement in their score, which is testament to the work we’ve all been doing to make Zurich a great place to work. The verbatim comments also tell us we’ve made significant progress since 2017. We’re not complacent though, and true employee listening is a key part of our strategy.
More recently, our people continue to tell us that they feel supported and listened to, especially in a year like no other. We’ve helped by making our FlexWork approach clear, we’ve continued to support our people leaders to manage their teams remotely and have put employee wellbeing front and center.
The most recent OHI UK score improvement – where we’re in the top decile against the OHI global insurance industry benchmark – is a positive result and spurs us on to do more. It would be easy to be complacent and aim to maintain our scores. Culturally, we have become an employer who believes there’s always more to do and listening to our employees is a fundamental part of this journey and how we move forward. Listening, learning and taking action is how we make Zurich in the UK an even better place to work.
Spotlight
Employee Experience
Steve Collinson Head of the People Team, UK / UK HR #yousaid #welistened
Contents
Growing together
Overview
Diversity & Inclusion, Employee Wellbeing and Employee Experience
Integrated talent management
Total Rewards
Work Sustainability
Glossary
Disclaimer
18
We measure employee engagement through the following ENPS question: How likely would you be to recommend Zurich as a place to work?
ENPS Score Group Level +52 (2020)
ENPS Score Group Level +26 (average 2019)
ENPS Score Group Level +7 (average 2018)
Tenure by region and gender in years
2020
2019
EMEA 76%
APAC 78% CC 85%
NA 68%
LATAM 79%
2018
EMEA 67% APAC 74% CC 76%
NA 66% LATAM 79%
2018
End 2018 part rate: 69%
Avg participation rate 2018: 70%
2019
End 2019 part rate: 77%
Avg participation rate 2019: 76%
2020
End 2020 part rate: 84%
Avg participation rate 2020: 84%
2020
EMEA 83%
APAC 85% CC 89%
NA 80%LATAM 87%
LATAMNACCAPACEMEA
2019 2018
Employee Experience
Female MaleTotal 9.58 Total 9.4
0
2
4
6
8
10
12
10.88 7.41 8.16 10.93 5.7 11.05 6.61 9.51 9.14 6.34
Female MaleTotal 9.47 Total 9.15
0
2
4
6
8
10
12
10.83 6.41 7.70 11.48 4.69 11.10 5.48 8.97 9.28 5.26
Female MaleTotal 9.34 Total 9.11
0
2
4
6
8
10
12
11.10 7.22 8.22 11.66 4.33 11.29 5.99 8.88 9.37 4.67
Region average participation rate
Response Rate and Employee Engagement Index
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Employee turnover* rate by region and gender (in %)
*The population in scope for the turnover calculation considers the workforce mapped to employee group regular and inpatriates.
Countries excluded are Bolivia and Farmers Exchanges. In addition to this, we exclude the employee sub groups from Chile Sales Agents.
2018
Female MaleTotal 14.10 Total 14.10
0
5
10
15
20
25
12.00 17.00 14.80 14.40 17.40 12.00 17.80 10.10 14.60 18.50
Total 14.08
EMEA 12.10
APAC 17.37
CC 12.05
NA 14.56
LATAM 17.93
Employee Experience
2019
Female MaleTotal 13.87 Total 13.3
0
5
10
15
20
25
11.68 12.74 9.18 14.07 21.97 11.01 13.97 8.49 12.89 23.93
Total 13.62
EMEA 11.39
APAC 13.32
CC 8.77
NA 13.52
LATAM 22.91
LATAMNACCAPACEMEA
2020
Female MaleTotal 9.6 Total 9.6
0
5
10
15
20
25
6.16 9.08 5.73 6.53 11.94 5.69 11.3 4.68 7.37 13.4
Total 9.6
EMEA 5.92
APAC 10.06
CC 5.09
NA 6.95
LATAM 12.63
2020 2019Total Turnover in % by Generation
0
3
6
9
12
15
TraditionalistGenYGenXBabyboomer
9.29 12.86 10.93 9.35 9.37 14.52 12.28 13.64
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Overview
Diversity & Inclusion, Employee Wellbeing and Employee Experience
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Glossary
Disclaimer
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In this time of unprecedented change, our work sustainability commitments require, more than ever, fast and decisive intervention to grow and prepare our people for constant change. A fluid organization is a place where people can move around to perform different roles, see things from different angles and are well-placed to change and foster long-term relationships with their associates.
With this in mind, in March 2020 we launched our Talent in Motion (TiM) initiative by which 9% of our staff moved either temporarily (through rotations) or permanently to other roles in less than a year. TiM is not only helping us broaden our people s knowledge but also become a more agile and fluid organization where capabilities can move quickly from one part of the organization to another, based on changes in work demands.
Santiago Insula Martos Head of Human Resources & Corporate Responsibility Spain
In 2020 over 500’000 hours of learning were completed on our learning experience platform “MyDevelopment”
Nearly 10’000 employees activated their LinkedIn Learning license between March and December 2020
Integrated talent management
99.9% of employees had at least one training session in 2020
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Learning & Development
We kicked off 2021 with a focus month on being curious and growing together as we recognize curiosity as the foundation to any progress, transformation, learning and innovation.
We’re enhancing our Learning Experience Platform with further personalization and improved usability. We will also build the few remaining technical academies and will
have all functions represented with their own dedicated one-stop-shop for development on our learning platform.
A high focus remains on helping our people managers to be excellent at their jobs: we’re virtualizing all training offerings targeting our people managers, assigning a manager goal and are working on a manager performance index.
In February, we celebrated Digital Learning Day at Zurich with the launch of our new Learning Experience Platform MyDevelopment that provides access to internal resources as well as over 16,500 LinkedIn Learning courses across seven languages. Zurich puts a high emphasis on lifelong learning for all employees and MyDevelopment provides access to relevant content for everyone.
The environment in 2020 required swift actions and upskilling and reskilling initiatives around the globe. To respond to the events around the pandemic and the move to a completely virtual working environment, we launched a series of #ZurichNeverStops webinars. 35 global sessions were delivered on 12 topics targeting both people managers’ and employees’ most pressing needs. Topics included tips around remote working, empathy in the virtual world, physical and mental wellbeing, and much more.
In close collaboration with our Group Functions, we successfully launched five more Technical Academies on our Learning Experience Platform. A critical one is our Zurich Customer Academy to further strengthen our customer capabilities across the Group.
A global manager success profile was launched in 2020. It represents the clear expectation towards the critical role our people managers play. The first high-development initiatives have started, targeting managers in our regions, and will continue throughout 2021.
Overview
Outlook
We all need to be curious, courageous and willing to constantly embrace new learnings (because) the future is not just a place we go; it is a place we create.”
Vincenzo Salipante, Automation Program Lead
General key performance indicators:
Training investment per FTE in 2020:
>US$700
Average hours per FTE of training and development in 2020:
>26.5
*1% is reported as unknown
Our employees spent 452,006 hours on pure online learning on MyDevelopment in 2020:
Female Zurich employees consumed 57%, male employees 42%*
Individual contributors consumed 75%, managers 25%
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Learning & Development
Building Manager Excellence in Asia-Pacific
The long-term success of our business depends very much on the success of all our people. As such, it is important to help every individual realize their full potential and people managers play a critical role in this journey.
People managers have a substantial impact on employee performance, engagement and retention. Moreover, in today’s highly competitive talent market, employees have much higher expectations of what managers should do to support them, than they did in the past and are willing to leave the organization if their expectations are not met. This made it essential for us to focus on the role of the manager and invest in building manager excellence across APAC.
Therefore, in 2020, we designed and launched the following resources through a comprehensive communication campaign, to support and develop all people managers across APAC.
1 Manager Success Profile that clearly articulates the expectations we have from people managers. Excellent managers are proficient in building trust, managing performance, supporting development and increasing engagement.
2 Managerial Judgement Test based on the Manager Success Profile, to help people managers obtain a better understanding of their strengths and development areas and plan their development accordingly.
3 Behavioral Interview Guide based on the Manager Success Profile to assess and select people managers.
4 Manager Guide designed as a one stop shop for all information that new or existing people managers may need to manage their teams better through different phases of the employee life cycle.
5 Manager Dashboards to provide people managers with data and insights on employee engagement, employee turnover, gender diversity, talent movement, succession management etc. within their teams.
6 Manager Development to provide people managers with tiered and modular development so they have the flexibility to choose relevant workshops/e-learning based on their specific development needs.
7 Manager Recognition program guidelines to ensure consistency and alignment in the way we identify, appreciate and recognize high performing people managers across APAC
These resources have been very well received by our people managers and have also been adopted by other parts of the Zurich Group.
Sonali Kumar, APAC Head of Talent & Head of HR, Singapore
Spotlight
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Executive Development
We are committed to providing tailored development programs for Zurich’s future and current executive leaders. We align the programs closely with our new Zurich brand, purpose, values and Customer Value Proposition. Our aim is to provide our top leaders with the new skills, insights and knowledge that will help them thrive in our new working environment.
The Catalyst program took place from Sept. 2019 to Nov. 2020. In collaboration with a top-tier business school, which provided the academic, research and leadership perspectives, the program:
• drove the development of our world-class, internal talent
• created a great impact by giving the participants a platform to do things outside of the normal environment and together with a diverse group of colleagues from across the globe
• took an enterprise-wide leadership perspective
• sharpened the following leadership capabilities to be able to deal with the profound transformation in the insurance industry, the need for which was greatly accelerated through COVID-19: being customer-led, fueling innovation, leading in a digital age, navigating ecosystems and sustainable leadership
• offered external best-practice through visits to companies that are best in class in some of the above-listed leadership capabilities. These included leading global companies in the areas of sustainability, ecosystems, innovation, digitalization and leadership
A long-term aim is to attract talent and make Zurich the employer of choice.
The Catalyst program was successfully redesigned to become fully virtual at the outset of the pandemic in 2020. Although somewhat skeptical at first, Catalysts gave positive feedback to the virtual design, which led to a sizeable saving in costs.
Overview Spotlight
Attendees: 24 (56% female,
44% male)
100% of participants
would recommend the
program
90% Retention rate of participants
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The Brighter Future Together Program for our 120 Group Leadership Team members kicked off in October of 2020. It aims to equip our senior leaders to excel with confidence in this new environment, by discussing the implications of the new normal, creating awareness, and sharing key insights on digital leadership, customer leadership, people leadership and enterprise leadership. It also helps build skills needed to create a safe and positive environment for innovation, communicate and lead with empathy, lead with purpose and see everything we do through a customer lens. Each module consists of a self-reflection survey, a 2.5-3-hour immersion session with virtual visits to leading external and internal companies, cutting-edge content based on
Outlook
fresh academic research provided by the University of St Gallen and ETH Zurich, and post-session peer coaching in small groups to build a leadership community. The first module on Digital Leadership took place in November.
All contents and recordings of the Brighter Future Together series are made available to all employees at Zurich to cascade the knowledge and democratize learning. There are also various blended cascading interventions conducted in different regions with various leadership and employee groups and internal group peer coaching facilitators will continuously get educated on the methodology.
Executive Development
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Talent Acquisition
2020 saw significant progress on our global transformation project ‘Rethink Recruitment’.
Central to this was the design work for the new global technology solution powered by Success Factors which was launched in February 2021. The new system will support the global talent acquisition vision, to ‘provide a best in class user-experience to recruit the best internal and external talent, ensuring we have the right diverse skills and capabilities to meet the immediate and future strategic needs and to accelerate the digitalization of our company’. Through the use of personas, we have designed a solution that enhances the candidate experience during the moments that matter. This includes a simplified way of searching for vacancies and a quick and easy application journey.
In 2021, we will see the launch of the new system, as well as a continuation of the further enhancements to improve the user experience. We will be listening closer than ever before to their feedback, utilizing a NPS feedback approach.
Through the launch of the Employer brand/Employer Value Proposition, we will be sharing key messages externally and internally to raise awareness and promote Zurich as a great place to work, where we can grow together as stated in our new EVP.
COVID-19 has a had a big impact on the way in which we recruit and assess candidates, with almost all hiring transitioning to an online experience for candidates and hiring managers. The Next Generation hiring process has been no exception and countries have risen to the challenge of reviewing and updating their processes. Within the UK, they continued with their yearly Graduate/Intern recruitment campaign, taking the opportunity to review their process within this new virtual environment. Through a new media campaign, they attracted over 5,000 candidates to apply for the program. These candidates made their way through an innovative digital process, including a situational judgement test, a gamification assessment and an online interview. Getting closer to the key data points has allowed the UK team to truly
understand which images resonate with prospective candidates. Please see one example above of the image used for the campaign, with the one enlarged as most popular.
Onboarding of new starters has become a truly virtual experience, with newly created virtual onboarding guides available for managers and new starters, enhancing their experience when joining the business.
Overview
Spotlight
We realized very early in the pandemic that a turbulent and lasting period was ahead. As a result, we have changed not only our approach to the attraction and selection of top talent but also to onboarding new employees. Within a month we designed an onboarding journey that is 100% virtual. We quickly understood the importance of our New Joiner Buddys and informal networking
sessions as ways to promote the wellbeing of our newest colleagues. Our New Joiners seem to enjoy the virtual experience – our Onboarding NPS is averaging 70”
Bernadette Haslam Global Talent Acquisition Manager
Outlook
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Talent Management
In 2020, Zurich accelerated the roll-out of digital offerings, announced key leadership appointments and new Executive Committee members and created a new unit to attract additional customers and meet their rapidly changing needs. Adapting to the accelerated changes requires the right talent in place to deliver the business strategy, and this was a key theme throughout 2020. And we balance this through our commitment to work sustainability by developing our internal talent through investments in training, providing dedicated work experience and support in career planning.
As a result, we have steadily improved the bench strength of the organization, continue to increase the representation of female talent in our talent pipeline and are increasing the utilization of our succession plans. This is clear recognition of our commitment to developing our people and providing them with opportunities to reach their full potential and prepare for the future of work.
Cross Country Mentoring
While COVID-19 was forcing employees to work remotely, we still wanted to build talent across the organization and not lose a year (#ZurichNeverStops). The pandemic enabled us to take a new perspective on how to continue to support our employees with building their skills and relationships. In this new environment, we took
ZNA Talent Marketplace
The Talent Marketplace gives Zurich North America the ability to meet immediate business needs by leveraging the capabilities of our employees.
Managers add temporary assignment opportunities into the Marketplace and interested employees submit their profiles. Matches are made based on skills, experience and availability. Through the Talent Marketplace, employees have the opportunity to grow in new areas and develop new skills that will prepare them
for the jobs of today and tomorrow. After only a four-week development period using an agile approach, the Marketplace was launched mid-2020 in response to the impacts of COVID-19. Close to 60 talent matches have been supported as we ensured critical work was addressed and our customers’ needs were met. In early 2021 we expanded our Marketplace to include a wider range of talent requests to include shorter, gig-type assignments and address a broader array of resource needs.
2020 has served as an opportunity to challenge thinking and inspire innovations to support our employees and business. In 2021, accelerating our adaptation to the changing nature of work is our next focus area. We aim to be more agile and flexible, while introducing new levels of transparency and support for our employees to support their career development. Simultaneously we will continue to invest in the core foundation (development centers, coaching and sponsorship programs) we have built but also look to expand its reach by virtualizing the content to unleash more talent in the organization.
Overview Spotlight
Outlook
advantage of the ability to connect digitally, thereby expanding the network from one office to the entire region: Latin America. Expertise can reside anywhere in the organization and employees were keen to expand their networks beyond the teams, so a win-win opportunity was born.
Hence, we launched a program that matches mentees and mentors who were paired based on alignment of strengths and development needs, career aspirations, common interests, and other factors.
We kicked off the program with a virtual summit where a Country CEO and an external leader opened the mentoring concept, inspired, educated and challenged the program mentors. One mentee said, “ I feel my mentor is providing me with a safe space where I can share my mistakes, my career concerns and become a better professional.” One mentor said, being able to support my mentee’s development is one of the most rewarding experiences I have had so far at Zurich.
Marta Amoedo – Head of Integrated Talent Management, LatAm
Veronica Fernanda Auz Rivera – HRBP and Learning & Development, Ecuador
Paulina Rodriguez – Head of Talent, Learning & Wellbeing, Mexico
Al Crook – Head of HR Business Partners, ZNA
Harvey Greenberg – Head of Strategic HR Initiatives, ZNA
Celine Bucher – HR Program Lead
Brittain Bandura – Head of Talent Management, ZNA
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KPI/metric Details
Number of hires per year 10,475 in 2020, 11,331 in 2019; 11,585 in 2018
Gender split of new hires per year
Female 51.9%, Male 48.1%, in 2020
Female 53%, Male 46.7%, Unknown 0.1% in 2019
Female 51%, Male 48%, Unknown 1% in 2018
Generational split of new hires per year
Baby Boomers 2.9%, Gen X 26.1%, Millennials 58.6%, Gen Z 13.4% in 2020
Baby Boomers 5.1%, Gen X 26.7%, Millennials 59.9%, Gen Z 8% in 2019
Baby Boomers 5.4%, Gen X 29.9%, Millennials 60.3%, Gen Z 4.4% in 2018
% of positions filled with internal candidates
53% in 2020; 45.3% in 2019; 43.5% in 2018
LinkedIn Influenced Hires in 2020:
54%
Number of followers of our Global LinkedIn page
more than 562,000 followers
Talent Management
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Total Rewards
Total remuneration 2020
CHF 5.7bn
70% of all employees participated in the Group’s short-term incentive plan (STIP) in 2020
2% of all employees participated in the Group’s long-term incentive plan (LTIP) in 2020
We are committed to ensuring that reward decisions are made on the basis of merit and one of the ways we do this is our regular analysis of equal pay for equivalent work between men and women.”
Sonam Gangshontsang Head Group Rewards Governance
Zurich’s remuneration framework supports our strategic objectives and considers the interests of all our stakeholders.
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As part of our annual remuneration cycle, we analyze the pay of men and women in the same or similar roles to see if there are any discrepancies or abnormalities that require corrective action. In many cases this analysis is externally audited supporting our commitment to gender equality and ensuring equal pay for equivalent work.
Total Rewards also played an important part in 2020 by undertaking actions across the Group to help employees with the challenges posed by the global pandemic. Zurich remained focused on its strategy and as such, no changes were made to the performance metrics and targets of the incentive plans for 2020. Recognizing the continued commitment of employees to help customers, shareholders and fellow colleagues however, a special one-off payment, equivalent to one-week base salary was confirmed for approximately 30 percent of employees in the lowest career levels across the Group. Zurich also quickly rolled out a global hospitalization benefit in 2020 for employees worldwide, as well as their household family members, offering financial support if hospitalized due to COVID-19.
Harmonization of total rewards between two entities in Indonesia
In early 2020, Zurich in Indonesia set out to harmonize the remuneration and benefits between two previously separate entities following the acquisition of a majority stake in Adira Insurance. The performance management and rewards team reviewed each company’s remuneration policies, with the main objective focused on ensuring internal equity for employees, while aligning remuneration and benefits to Zurich’s remuneration framework. The implementation took place in the last quarter of 2020 and was positively received by all employees.
Adira employees will soon have access to Zurich’s global performance and development tools. This is just one example of supporting employees to create a brighter future together.
Zurich’s remuneration approach will continue to be reviewed in line with the Group’s established remuneration principles and considering market developments, ensuring an effective and balanced system.
To learn more, see the remuneration report in our Annual Report 2020.
Overview Spotlight Outlook
Total Rewards
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Work Sustainability
In 2020, the world’s response to the pandemic resulted in a rapid organizational transformation in the world of work – with working from home as the new normal, we learned virtual working requires a fundamentally new digital operating model. We went from digitizing the relationship between firm and customer, to digitizing the relationship between employer and employee. As a result, we have been catapulted forward, fast-tracking multiple Future of Work drivers including automation and digitalization, innovation, ways of working as well as customer behaviors and expectations. At Zurich, our Work Sustainability commitment helps our people prepare for the future of work.
In 2020, we further developed our approach to Future of Work by:
• continuing to embed our workforce planning approach to help business units and functions identify workforce risks and ensure people planning is linked to business planning
• developing internal talent marketplaces as a response to COVID-19 to rapidly reskill employees to align internal talent to where it was needed most
• building a broader approach to increase internal talent mobility, prioritizing internal over external hiring
• redesigning learning content to be fully digital, allowing our people to continue to upskill and reskill virtually
Future of Work, remains a key priority for Zurich in 2021 and we will increase our focus on:
• Talent mobility: Building on the momentum of our internal talent marketplaces launched in response to COVID-19
• Skills framework: Updating our approach to skills to ensure Zurich roles are relevant and dynamic by building an integrated career and rewards framework
• Youth employment: Stepping up our focus on building vocational skills and a diverse internal talent pipeline through a wide range of entry level programs for youth
• Metrics: Increasing our focus on measurement with specific metrics linked to learning, talent mobility and skills
• Establishing a skills framework which reflects our expectations based on our aspired culture, values and mission as well as required capabilities for success
Overview Outlook
Job moves in 2021:
5,552Positions filled
Internal 53%External 47%
• Creating the foundation and conceptual work to deliver on an integrated career and rewards framework within the next two years, based on lessons learned and earlier efforts from countries and Group Functions
• Engaging our business leaders and teams to collectively embark on this fundamental move in our HR practices, upskill our employee and shift into a learning organization
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Fit for Future Leadership in Switzerland despite lockdown
New technologies and changing customer needs are transforming how organizations conduct business and the skills employees need to support this transition. Following Zurich’s global Work Sustainability Commitment, Zurich Switzerland developed and launched a “Future of Work” manifesto, outlining 5 key principles to help us shape and drive the workplace of the future: Customer Excellence, Internal Skills & Competencies, Lifelong Learning, Modern Working Environment and Society & Climate.
To start the change journey and transformation, we designed an onsite 12-month leadership program for our Top 130 Leaders* with the goal of creating a “Powerhouse of Leadership Excellence” to lead the customer- and technology-driven transformation in our industry.
Shortly after we started the program, we faced the onset of COVID-19. While adapting to the new reality of social distancing and remote working, we focused our efforts on virtualizing the planned 5 key leader events leveraging internal best practice business cases to identify and share exemplary leadership behavior.
In collaboration with external keynote speakers from leading global companies and top tier business
Spotlight
schools we were not only able to run an inspiring and exciting program but to achieve real leadership impact.
To ensure frequent communication to all our employees and managers a Future of Work landing page was created to share regular news and leadership letters.
Despite the progress, there is much more to be done to be “Fit for Future Leadership” – and for this reason we kicked off the new program cycle “Competing in the Digital Age”.
Thomas Hickert, Head Integrated Talent Management, Zurich Switzerland
Digitization offers a huge opportunity to create unique services and products that are relevant to our customers, wherever and whenever they want. To seize this opportunity, a human perspective and a deep understanding of what the customer expects is just as important as driving the technology and innovation transformation.”
Sandra Hauser, Head Transformation & Technology, Zurich Switzerland
Work Sustainability
*Top 130 Leaders includes Chief Executive Committee members Management Team members and Team leader with a larger span of control within Business Unit Switzerland.
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Glossary
Global terms and definitions
Career levels: Career level (A-E) represent the complexity and seniority of the jobs, with level A representing entry level and E as the most senior managerial positions.
ENPS: ENPS measures employee loyalty through two standard questions and is part of the semi-annual employee survey. ENPS is based on the methodology of measuring and improving customer satisfaction and loyalty (transaction NPS and relationship NPS), which Zurich uses as a successful method to retain customers.
FTE: Full-time employees are counted as 1.0 FTE, whereas a part-time employee is counted according to the fraction of normal contracted hours (i.e. country/entity-specific each month that s/he works (e.g. someone working 3 days per week as 0.6 FTE).
Generation: Traditionalist (1900-1945), Baby Boomer (1946-1964), Gen X (1965-1980), Millennials (1981-1996), Gen Z (1997-2018).
Headcount shows the total number of employees, regardless of whether the employee works full time or part time; Employees of Farmers Exchanges are not included in Group Headcount/FTE.
Hires: Number of employees recruited from outside Zurich Group and internal transfers from other Zurich business units.
New hires: Number of employees recruited from outside Zurich Group.
People / Company’s managers: Employees by gender who have at least one direct report.
Junior management positions: Employees in career level A or B who have at least one direct report.
Company’s senior management: Employees who either report to the group CEO or one of his direct reports whom have themselves at least one direct report.
Revenue Generating Roles: Employees working in ‘Claims’, ‘Underwriting’, ‘Sales and Distribution’ or ‘Life Technical Functions’.
STEM: Employees working in ‘Risk Engineering’, ‘Engineering and Technology’, ‘Actuarial, Pricing and Analytics’, ‘Application Development’, ‘Platform Management’ and ‘Infrastructure’.
Senior management: Employees in career level C, D and E.
Sick leave days: Total number of working days missed due to sickness. We register sick leave days for 83% of our employees.
Span of Control: shows how many employees are directly reporting to a line manager. No matrix reports are considered.
Tenure: is based on the global adjusted service date.
Total turnover formula: (number of voluntary leavers + number of involuntary leavers) / average headcount of the selected year).
Turnover scope: The population in scope for the turnover calculation considers the workforce mapped to employee group regular and inpatriates. The countries excluded are Bolivia and Farmers Exchanges. Further to this, we exclude the employee sub groups from Chile Sales Agents.
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Disclaimer
This publication has been prepared by Zurich Insurance Group Ltd and the opinions expressed therein are those of Zurich Insurance Group Ltd as of the date of writing and are subject to change without notice.
This publication has been produced solely for informational purposes. All information contained in this publication has been compiled and obtained from sources believed to be reliable and credible but no representation or warranty, express or implied, is made by Zurich Insurance Group Ltd or any of its subsidiaries (the ‘Group’) as to their accuracy or completeness.
This publication is not intended to provide legal, underwriting, financial, investment or any other type of professional advice. The Group disclaims any and all liability whatsoever resulting from the use of or reliance upon this publication. Certain statements in this publication are forward-looking statements, including, but not limited to, statements that are predictions of or indicate future events, trends, plans, developments or objectives. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties and can be affected by numerous unforeseeable factors.
The subject matter of this publication is not tied to any specific insurance product nor will it ensure coverage under any insurance policy.
This publication may not be distributed or reproduced either in whole, or in part, without prior written permission of Zurich Insurance Group Ltd, Mythenquai 2, 8002 Zurich, Switzerland.
Neither Zurich Insurance Group Ltd nor any of its subsidiaries accept liability for any loss arising from the use or distribution of this publication. This publication does not constitute an offer or an invitation for the sale or purchase of securities in any jurisdiction.
At Zurich, we foster a culture of diversity and inclusion. Our purpose and values are designed to protect, inspire confidence and help our employees reach their full potential. We value and defend what is right and promote opportunities for equity among our professionals, regardless of gender, disability, LGBTQ +, race, ethnicity, generations, belief, etc. Our talent acquisition and hiring processes respect this commitment daily.
Imprint Zurich Insurance Company Ltd Group HR
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Zurich Insurance Company LtdAustrasse 46 8045 Zürich Switzerland
173007188 (05/21) TCL
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