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Employee retention
We believe in enabling our employees to strike a healthy balance between their professional and private life. With this in mind, we offer part-time and teleworking models that can be individually structured and flexible working-time arrangements without core hours. Through this flexibility we want to make it easier for our employees to organise everyday life in phases such as starting a family or preparing for the end of their professional career, e. g. through partial retirement arrangements. These benefits are reflected in a low staff turnover rate and the long periods of time that our employees stay with the Group.
We also operate our own company daycare centre at the Hannover location that provides all-day care for infants up to the age of three.
We attach great importance to the satisfaction of our employees in order to remain a consistently attractive employer. Regular feedback from our staff is taken very seriously and we therefore offer various channels through which this can be communicated. In 2018 we initiated a new implementation round of what we refer to as management feedback: the employees working under a defined group of managers are able to give their direct supervisors feedback on just how their style of leadership is experienced. This raw feedback is then aggregated into a results report that forms the basis for discussion between the manager and his or her staff, thereby making it possible to identify measures for improving management effectiveness and teamwork.
Our employees are paid according to their specific tasks, their skills and qualifications and their performance. At the same time, employees in Germany benefit from the security and advantages of the collective agreement for the private insurance industry. 93% of our employees at the Hannover location are covered by the collective bargaining agreement. The remaining 7% can be attributed to some non-collective agreements with managers.
Furthermore, we offer our employees a number of additional voluntary benefits. All members of our staff are granted the same benefits in proportion to their working hours.
| Goal to be achieved by 2020: Employee retention | |
| Measures | Results |
| Maintaining strong employee affinity (low staff turnover rate of 3 – 5% at the Hannover location) | The staff turnover rate as at 31 December 2018 was 4.1% |
| Holding of Group-wide employee surveys on a recurring basis (participation rate of at least 60%) | An employee survey was not carried out in the year under review. Instead, a new round of management feedback was launched in order to enable employees working under a defined group of managers to give their direct supervisors feedback on how their leadership style is experienced. |