Managing change
There is a significant amount of change occurring across Friends Provident as our revised strategic focus means making changes behind the scenes to the size, shape and cost of running our business.
When undertaking such difficult and sensitive initiatives, we seek to minimise the number of compulsory redundancies through voluntary turnover and redeployment. We engage voluntarily with the union, Unite, at the earliest possible opportunity ensuring that they understand the reasons for the changes and the process that we will follow. We also brief all staff face to face, and supplement this with regular intranet communications, team briefings and more formal staff surveys.
Recognising that this is a difficult time for those people affected, and that some employees may have worked either most or their entire career for Friends Provident, we provide outplacement support for those leaving to equip them with the skills and techniques to help plan their career and to find alternative employment.
With the potential for further service improvements through offshoring/outsourcing arrangements, we continue to operate a charter with Unite. The charter creates a framework for Friends Provident and Unite to use when dealing with strategies of this nature.
How our employees view us
Friends Provident continues to seek employees’ views and opinions through various channels, including employee surveys. In 2008 we ran a tracker survey at the start of the year, focusing questions around our strategic review and leadership. The number of employees completing the survey remained consistently high, with 86% of employees responding in 2008 (90% 2007, 86% 2006) and still ahead of the average for such surveys (61%).
Our 2008 survey saw an expected fall in employee engagement (56% from 75% in 2007) as a result of the change the business was undergoing. However results did identify a number of key strengths, including employees’ commitment to helping Friends Provident achieve its goals.
Earlier this year we began conducting extensive research through a new culture effectiveness survey into our employees’ views and experiences of working for Friends Provident and what we need to change to deliver our future ambitions. The findings will help us understand our current culture and provide us with the tools to move to a culture that is commercially focused and which breeds and rewards success.