HR at Mandatum Life
A new operating model for corporate sales and service was initiated in 2013. The goal is to enhance the customer experience, improve management of sales per unit time and set clear, targeted objectives for sales operations. Face-to-face meetings will be conducted for larger customer accounts and for accounts with significant customer potential. Smaller customer accounts will mainly be managed electronically and over the phone. Particular emphasis has been placed on strengthening sales skills. By the end of 2013, nearly 90 per cent of sales personnel who previously only specialized in life insurance had completed the Investment Advisor Exam (APV).
An efficiency improvement program was launched in 2013. Employee participation was high and the company successfully met its targets. In addition to fixed cost savings, Mandatum Life also achieved savings in process development by centralizing operations and introducing more efficient operating methods.
Development of Personnel Benefits
A personnel fund, established in 2012 for the employees of the subsidiary company Innova, was extended in 2013 to all Mandatum Life personnel. The employees can use their annual performance-based reward to save an amount equivalent to a maximum of half a monthly salary in the fund. Since contributions to the personnel fund are exempt from social costs, an extra 20 per cent reward is added to the transferred amount. All employees of Mandatum Life’s parent company are additionally covered by the company’s group pension insurance scheme.
Well-being at Work and Employee Satisfaction
Employee satisfaction has remained at a high level. A survey conducted in November showed that overall satisfaction was 76 per cent compared to 77 per cent in 2012. All in all, 81 per cent (83) of those surveyed said that Mandatum Life is a good place to work.
Over the past few years, processes have been developed to promote well-being at work. This has led to a steady decline in the levels of sickness absences. The absence percentage in 2013 was about 2.5 per cent (3.3). Mandatum Life’s employee pension insurance premium category also remained low in 2013.