Best Insurance Employer 2021: Covéa (4* employer, large)

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Karyn Strickland, head of HR and reward, Covéa

Why do you think your employees have nominated you in this survey?

Our employees recognise the genuine efforts we’re making towards creating a great place to work. We place a huge amount of emphasis on employee engagement which covers a range of different things from our inclusive approach, to the learning and development opportunities we provide. It also helps that we have a clear companywide purpose which is about doing what really matters for our customers. 

What do you believe employees value the most?

Their colleagues; our ongoing engagement survey feedback tells us that people feel like they are part of a family here. They recognise the importance of having a strong culture of collaboration driven by our values.

Our people value the flexibility we provide – We worked quickly equip our employees to work from home and keep our teams safe during the pandemic.  We have accelerated plans to support people with new ways of working and increased flexibility.

Where does your HR strategy come from?

Our HR strategy is driven by our overall business strategy and how important our customers are to us. We know that our people are our strongest assets and advocates. We focus on an inclusive culture driven by trust, authenticity and a coaching leadership style. We are focused on building a strong employer brand, reflected in the value we attach to rewarding and recognising our teams and in our policies so that we stand out as a place to work.

How does this tie into your company values?

Our company values support our strategic vision.  We’re looking to create a standout culture so our HR strategy absolutely ties back to our company purpose and values which are about:

• Standing shoulder to shoulder – supporting each other and the communities we work in
• Making it happen – delivering results
• Changing the game – doing things differently and making insurance better
• Understanding you – demonstrating empathy to customers and each other

Our values set the tone for our company's culture, and they identify what our organisation, as a whole, cares about.

How does staff feedback affect HR decisions?

We listen to our employees through different channels – we launched ‘employee 24/7’ during the pandemic, allowing us to connect with people remotely and to take regular pulse checks. Feedback has identified themes which in turn drive actions. We have an employee representative team that meet quarterly to share feedback with representatives from HR, learning & development, engagement and communications and these forums drive change and progression for our organisation. 

Happiness Index – we carry out an annual employee happiness survey to measure how well our employees are thriving in our organisation.

The feedback contributes to the context and content of some of our policies: e.g., parental and transitioning policies but also the feedback isn’t restricted to HR decisions but wider business decisions as well

How do you retain staff?

We create a culture of inclusivity and belonging so people can bring their whole selves to work. We identify career paths and offer a multitude of learning and development opportunities for individuals. We support people by offering flexibility. We let them know that their views are valued and we give them multiple opportunities to have a voice. We try and make it easy for people to stay connected and have fun

Do you do anything differently from other insurance firms?

We have also driven a culture of inclusivity through our community groups which are sponsored by executive members – we have 5 D&I groups – Covéa pride, Inspiring Colour at Covéa, Accessibility, Gender balance and Wellbeing which, together with our Charity and Environmental groups, have sparked a series of proactive activities that are changing the game in terms of driving an authentic approach to inclusivity and engagement

We take employee well being seriously whether mental, physical or financial and have recently invested in Vitality@work for all our employees in addition to the standard private medical. This is a new and exciting programme which means that all our employees have access to tools and incentives to help them live healthier life styles

In our offices, we operate a ‘dress for your day’ policy which we have had for several years which empowered people to dress for the way they felt on that day  or for the type of day they had ahead.  With most people operating in home offices currently, lounge clothing seems to be the order of the day.

Where do you think HR is going in the future?

There’s no doubt the pandemic has thrown everything up in the air and nobody quite knows where things will eventually land, especially while the uncertainty of future lockdowns still exists.  What’s clear is that things won’t ever be 100% back where they were but HR will continue to play a pivotal role in horizon scanning and ensuring we have the ability to flex and pivot our employee offering based on the changing environment. 

What new benefits are on the horizon? Will you be introducing these?

We have recently introduced Vitality Health and Vitality at Work which encourages all of our employees to live a healthier lifestyle and rewards them for doing so. 

In your experience is recruiting and retaining in insurance different from other sectors? If so, how?

In terms of recruitment, we’ve got a bit more of a ‘hard sell’ to attract people.  I’m not sure if people actually realise just how much we have to offer, so it’s up to us to get the message out. We do that through lots of community outreach with schools, colleges and universities.

With employee retention, I wouldn’t say we’re that different to any other sector – in some ways I think we’re better – people who get into insurance tend to like it and stay in it.  Although, with the industry becoming much more digitally focused, we’re competing more and more against technology giants – the likes Google and Amazon - and so there’s a definite need to be competitive in the jobs market.

What advice would you give to other firms to replicate your success?

Involve your employees in your decision-making, be honest and straightforward, give people room to make mistakes, have fun.

What will the ‘new normal’ look like for your employees in terms of office/home working after Covid?

We are still in conversation with our people and this is something which is still being finalised.  We expect to implement a hybrid working model where flexibility for our people is key, whilst still ensuring a standout level of service for our customers and successful business performance.