Engaging and supporting our people
Our co-operative organization is made up of people who are impacted by and connected with the issues and trends in the world around us. Our people are the core source of our competitive advantage in a rapidly changing environment.
Taking the pulse of employee engagement in a unique year
The Co-operators has been a Kincentric Best Employer for 17 consecutive years. In 2020, we worked with Kincentric to conduct employee Pulse Surveys to better understand the challenges they were facing and the degree to which they felt supported.
- 88 per cent of employees felt the organization was looking after their wellbeing and that their manager had provided the support they needed.
- 89 per cent felt that their current work situation (whether remote, in-office or a combination) allowed them to be fully productive, and felt positive about their ability to adapt.
Strong employee retention persists amidst uncertainty
Despite the widespread uncertainty and significant financial challenges endured in the first half of 2020, we retained 93% of corporate employees.
Employee voluntary-turnover rate
Employee retention rate
Supporting our people with competitive compensation and benefits
As a living-wage employer we offer a competitive and equitable compensation package that, in most cases, far exceeds the living wage. We also monitor salaries through our External Market Analysis process, which can help to identify and address any gaps in our competitive positioning. In addition, we conduct an annual gender-pay review, which includes statistical modelling on employee compensation. In 2020, this review confirmed that across equivalent salary grades, a pay inequity among genders does not exist at The Co‑operators.
CEO to average worker pay ratio (2019)
Industry Benchmark: 202:1*
*Based on the salaries of the 100 highest paid CEOs in Canada. (Source: “The Golden Cushion” The Canadian Centre for Policy Alternatives, 2021).
Workforce incentive programs
Offering a sustainability education course for employees
We launched a sustainability eLearning course to help employees better understand what it means to use a “sustainability lens” in their work. The course focused on helping employees better anticipate and manage risk; increase and identify innovation opportunities; enhance problem solving and become more effective decision-makers; and better respond to changing economic, social and environmental conditions. By the end of 2020, 82 per cent of our corporate employees had completed the course. demonstrates the value that this training has to our organization and our employees, both at work and at home.