The primary goal of cooperative/mutual insurers is to manage risk in order to build a better world – from safeguarding the environment, to providing stability in communities, from helping businesses develop, to protecting individuals and the families they love. It is also their duty to look after the people who help build the business and support its values on a day-to-day basis: their employees. Without committed, loyal, effective employees, businesses cannot develop and thrive.
In this edition of Strategic InSights, ICMIF examines the rationale for investing in employee programs which go above and beyond regulatory or legal requirements, considers the current socio-economic challenges facing businesses which strive to become “employers of choice”, and presents a snapshot of how cooperative/mutual insurers are differentiating themselves from their private, shareholder-owned competitors based upon their principles.
It includes the results of a brief survey conducted among selected ICMIF members, including analysis of areas in which the sector is performing well and those in which further effort may be required.
The paper concludes with some views on the future challenges for cooperative/mutual employers and the approaches that managers should continue to focus on in order to make an optimal contribution to employee well-being.