Workplace transformation and diversity

Sanlam recognises that creating an equitable working environment where the diversity of all employees is valued and the dignity of individuals is respected, is the foundation required for sustainable growth and competitive advantage. It is a business imperative that the race and gender distribution across all levels of the organisation be brought in line with the national norms and targets. The key principles of our Human Capital Transformation (HCT) strategy include:

Following a review of our employment equity targets in 2010, new targets were negotiated and implemented. These are included below.

At the start of 2012 Sanlam will repeat a Group-wide barrier analysis to identify any areas that are seen to be barriers to transformation and that require attention. These areas will be the focus of the new EE plans.

Sanlam has adopted a focused approach to meeting BBBEE requirements. This implies prioritising transformation initiatives thoughout the company. This includes Employment Equity forums at various levels of the organisation in all business units. Sanlam has achieved a level three BBBEE rating and will continue with initiatives to improve this rating.

Our Employment Equity plans also include specific provision for identifying opportunities to employ disabled persons. During 2010 and 2011, Sanlam Personal Finance (our largest business cluster) initiated disability learnerships with 17 participants, with a view to creating more career opportunities for the disabled. Of the 17 learners, six were permanently employed in SPF, one has a one-year contract with the possibility of being employed, six are on multiple internships and only four were not placed in Sanlam. We believe the programme demonstrates commitment to both skills development and creating workplace opportunities for people with disabilities. The table below indicates the progress Sanlam has made towards achieving our Employment Equity targets. We are ahead of our target with respect to top management. We are on track in areas such as junior, semi skilled, and unskilled levels. Greater progress is required at senior and middle levels and we are confident that we will achieve our 2012 targets.

Progress against targets: Black staff composition

There has been a positive increase in our EE score over time. The focus on increasing black headcount will remain key for 2012.

Our performance against the employment equity element of the dti Scorecard, over time

The table below shows the total number of Sanlam employees (including those with disabilities) across the different race, gender and occupational level groups.

Sanlam's black employee complement has now reached 61% of total staff (compared to 60% in 2010, 56% in 2009 and 53% in 2008). This is in line with our targets and we believe have had a good retention rate due to our competitive employee value propositions and remuneration packages. The table below shows the total recruitment figures for Sanlam across the different race and gender groups and various levels for the period 1 January to 31 December 2011.

Spend on initiatives to help meet our Employment Equity targets

A barrier analysis is conducted every three years in preparation for the development of the three-year Employment Equity plans. Sanlam's current plan is valid until 31 December 2012. A comprehensive analysis is scheduled for 2012. Diversity related initiatives are done on a needs basis within the organisation. A total of R 292,512 was spent on initiatives ranging from workshops to comedy shows to related diversity awareness and training.