Commitment, motivation and capability of our people, and their embracing of our values
Our ability to meet organisational objectives, deliver value to customers and clients, comply with regulatory obligations, and create shareholder value depends on our employees. We want to work with people who share our passion for Africa and who understand and embrace our view that diversity is not just about demographic characteristics, but about pan-Africanism, and who see the opportunities inherent in this approach.
Core to SBG’s success is ensuring that each of our 54 361 employees across the globe understands, buys into and are motivated by our purpose of driving Africa’s growth. In an industry with similar revenue opportunities, offerings, risks and regulatory challenges across different organisations, finding, keeping and developing the right employees is fundamental to our competitive advantage. Employees are the foundation of customer experience and our brand. They underpin our ability to deliver exceptional client experiences and superior value. The common threads that bind our diverse operations are our heritage, embedded values and clearly defined culture.
We aim to create a workplace where performance is expected and rewarded. Given that our competitors are targeting the same opportunities as we are, competition for local skills is fierce, which requires that we offer our employees a clearly defined value proposition. We do so by embedding an organisational culture that encourages and rewards excellence and inspires individuals who are adaptable to growth and change. We also promote fair, consistent talent management practices that enable personal and career development. At senior level, our development programmes are tailored specifically to the needs of individuals.
Our refreshed group strategy clearly articulates the need to attract, develop and retain committed employees with a commercial mind set. Current and future trends, the rapid pace of digitalisation, and meeting the expectations of a multi-generational workforce influence how we shape our approach to employee and leadership development. Insights obtained from surveys held in 2014 across 17 countries have been used to inform our strategy and employee priorities for the short to medium term.
To ensure we have a pool of skilled employees, we have enhanced our talent management approach to be more consistent, integrated and led by business. In addition it is based on succession management (focused on critical roles and future capabilities) and targeted investment in the development and mobility of key talent. Employees have performance contracts, linked to commercial objectives, against which they are reviewed annually. Our level of voluntary turnover – an indicator of employee satisfaction – in 2015 remained healthy at 8.3% and below the international financial services benchmark of 13.9% (Corporate Executive Board benchmark: 2014).
We view diversity as broader than just race or gender – it is a strategic business advantage. The bringing together of people from diverse cultures with diverse skill sets, who think in different ways, facilitates the development of more creative and more comprehensive solutions to business challenges. Every business unit in South Africa has a Diversity and Transformation Forum which supports management in efforts to build a more inclusive and diverse workplace. In South Africa, we have introduced a ‘Lean-In’ initiative, facilitated by executive volunteers, which provides networking and coaching opportunities for female employees at middle management level.
Optimal employee health and wellness can positively impact productivity and performance. Proactively implementing a range of employee health and wellness programmes helps to assist our employees in delivering sustainable results. Against this backdrop, we have a robust health and wellness programme in place, which we manage in partnership with a range of external service providers. We have also implemented financial wellness programmes to help employees deal with money management and personal finances. As part of this programme, we have rolled out financial workshops across PBB. We are also implementing a proactive absence management programme. Going forward, we will use cost of sick leave as a percentage of CTC as the key metric to indicate progress. In 2015, this was 1.27%, which is below the South African financial sector norm of 1.7%.
We view diversity as broader than just race or gender – it is a strategic business advantage.
|1||The term ‘black’ means African, Coloured and Indian people who are South African citizens by birth or who became SA citizens by naturalisation prior to 27 April 1994.|
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