This page contains Consolidated Non-Financial Statement information
The Generali People Strategy, based on four priorities, ensures the execution of the business strategy while respecting our values.
Each priority is supported by specific Group initiatives, the results of which are measured and monitored over time to ensure continuous improvement.
To measure and promote the engagement of our people, in June 2017 we carried out the second edition of the Generali Global Engagement Survey, a managerial tool for continuous improvement. In the course of 2018, leveraging our strengths, we established specific action plans for the opportunities for improvement. The priorities mainly identified in the local action plans were:
- foster strategy cascading and communication;
- keep investing in performance management tools and meritocracy;
- accelerate on efficiency and velocity;
- further enhance a diverse and inclusive culture.
Since January 2018, more than 390 local actions were planned, initiated and communicated. At the end of December 2018, 92% of these were already implemented, with a view to launching 100% of the actions by the end of June 2019, coinciding with the third edition of the Generali Global Engagement Survey.
To create and spread a culture focusing on the empowerment of our people, in 2017 we designed and rolled out the Managerial Acceleration Program (MAP). MAP fosters and strengthens a managerial culture capable of engaging and boosting the accountability of our people in line with the eight key managerial behaviours of the Generali Empowerment Manifesto (GEM).
MAP is dedicated to the management population and fully facilitated by Group managers who have participated in special training and coaching initiatives (189 trainers trained in 2018).
In 2018, 4,218 managers participated in the MAP. The goal is to train 8,900 of them by the end of 2019.
Increasing the accountability of our people also means boosting a performance culture. Through Group Performance Management we focus our efforts on spreading this culture while also strengthening transparency and meritocracy in line with what our people asked in the Generali Global Engagement Survey. In 2018, 99%13 of our people participated in a programme involving: defining objectives, assessing performance, feedback and individual development plans.
Lastly, we promote a culture of inclusion which ascribes value to individuals and diversity of all types, particularly with regard to four types of diversity: cultural, gender, generational and disability. Our targets in terms of diversity and inclusion at Group level have been revised with a view to supporting the new strategy, coming into line with market best practices and collecting the points arising from continuous dialogue with business leaders. The Group’s plan is joined by local plans developed on the basis of local requirements.
Amongst the main Group actions, diversity and inclusion training has been reinforced for the top international leaders. Particular focus has been dedicated to the topic of unconscious bias, i.e., the unconscious stereotypes and prejudices that can guide decisions with significant impacts on the business and people alike. The Group also launched the #BeBoldForInclusion initiative, with the participation of more than 40 CEOs on 8 March, which provided the occasion for an effective awareness-raising and promotion campaign with respect to Generali’s diversity and inclusion strategy, with a particular focus on gender diversity. The initiative opened up dialogue on this topic, collecting feedback from all employees.
These and many other activities were shared and supported by the Group D&I Council, led by the Group D&I Sponsor Frédéric de Courtois, and consisting of business leaders acting as D&I champions.
We develop the managerial skills of our leaders and talents to favour their development and internal growth. To achieve this objective, we offer mentoring and international training programmes in partnership with the best business schools in the world.
To enhance strategic thinking and leadership skills, a number of ad hoc training programmes were launched in 2018, including:
- Step Up, a 4-day residential programme at the Lausanne campus in collaboration with IMD and dedicated to 70 Group Talent Directors. This initiative is intended to provide the Group’s future leaders with the necessary leadership capabilities in the digital age;
- Global Mentoring Program, the third edition of which was launched in October 2018, involving 82 participants including members of the Generali Leadership Group (GLG) and young managers from throughout the Group. The Global Mentoring community now consists of more than 200 people and the Group initiative paved the way for multiple regional and local mentoring initiatives;
- Strategic Study Tour 2018, an immersive study tour in the ecosystem of Singapore on the topic of digital innovation and business model transformation, supporting Generali 2021 strategic cycle planning and dedicated to a select group of 35 senior leaders.
The Group’s organization is a fundamental tool for ensuring the proper execution of the strategy and the achievement of business objectives. Thus, we periodically analyse the Group’s organizational structure to ensure that it is aligned with business challenges. We believe in a clear and simple organizational model that is based on shared rules, local empowerment and integration mechanisms. Furthermore, we promote a new way of working which, also thanks to the use of technology, is efficient, effective and capable of leveraging the organization’s collective intelligence. Within this context, we support smart working, including through trade union agreements.
Developing and improving upon the technical skills of all of our people has always been one of our objectives and is now more important than ever in today’s rapidly evolving business environment. Generali Advanced Technical Education (GATE) is our international training programme that aims to ensure the consolidation, updating and innovation of technical skills and business knowledge. GATE relies on the contribution of MIB - School of Management of Trieste instructors as well as the Generali Group Faculty, roughly 60 internal instructors and lecturers. 39 training initiatives were carried out in 2018.
We believe it is fundamental to build an organization focused on the customer, with a limited number of decision-making levels and strong inter-functional transversality. We implemented a Net Promoter Score (NPS) programme in 58 Group’s business units, which facilitated reimagining key processes for the benefit of end customers. Furthermore, we favour the customer-centricity of all of our people by means of consistent incentive systems, training programmes and onboarding processes that call for client-facing experience.
Confirming the centrality of people in the Group’s strategy, we held 8 meetings with the European Works Council - the representative body for Group employees - at the permanent forum dedicated to social dialogue.
In line with the launch of a new strategic cycle and the new business priorities, in 2018 we developed the new Generali People Strategy which will guide the Group’s priorities and initiatives in 2019-2021.
The new Generali People Strategy was defined through a co-creation process involving more than 400 of the Group’s people at various organizational levels. The result was the definition of five lines of transformation:
- promote a culture of innovation, customer-centricity and inclusion;
- build and develop key competencies for the digital age;
- become a simple, agile and efficient organization;
- leverage excellence and the creation of sustainable value;
- favour the development of leaders and global talent.
These lines of transformation will be supported by specific global and local initiatives and targets defined and monitored in line with the Generali 2021 strategic plan.
We have developed a framework for the assessment and management of operational risks inspired by international best practices and consistent with the requirements of the Solvency II directive. As part of the assessment conducted every year by the Group companies, the risks that could impact areas concerning our people were identified and precisely analysed, and the initiatives implemented with a view to mitigating such risks were evaluated. The areas of analysis regarded the following specific categories:
- employment relationships, with a particular focus on matters relating to key people and business ethics;
- safety at work;
- discrimination, diversity and inclusion.
The assessment is satisfactory also in light of the initiatives implemented within the Generali People Strategy described and the centrality of our people within the Group strategy.
* Data and related changes also refer to companies non-consolidated line-by-line.
13 The data exclusively refer to Group companies, equal to 54,743 employees (77.4% of the total), within the scope of the Group Performance Management process.