Generali People Strategy
Consistently with the Group's strategic plan, we have developed the Generali People Strategy, GPeople24 - Ready for the Next, which guides key priorities and initiatives for the period 2022-2024. GPeople24 has been defined through a co-creation process which, through a blended virtual and in-person approach, involved hundreds of colleagues around the world, at different organizational levels and from all business units.
With the goal of unlocking the potential of our people and boosting the Lifetime Partner 24: Driving Growth strategy through the implementation of the Next Normal, four priorities have been defined, supported by dedicated global and local initiatives, along with clear and continuously monitored indicators and ambitions.
- Enhance a Lifetime Partner, sustainable and meritocratic culture
- Build a more diverse work environment ensuring equal opportunities and inclusion
- Invest in business and digital skills to drive growth and boost our people impact
- Enable an effective organization embracing a sustainable hybrid work models rooted in digital.
Next normal
In line with its vision and with the principles inspiring the strategic plan, Generali is continuing to optimize its organization with the ultimate goal of maintaining and strengthening its ability to adapt and evolve, seizing emerging opportunities through an agile and effective digitally-enabled organization.
In this context, Generali is continuously fine-tuning its Next Normal, based on hybrid, flexible and sustainable work models, enhancing the potential of Generali people, boosting the ambition of the business strategy, and delivering benefits to all the stakeholders involved.
The Next Normal Manifesto and its seven Group key principles, which outline our vision and incorporate our Lifetime Partner Behaviors, are successfully guiding Generali in shaping the future of our ways of working across all relevant dimensions.
The ambition to have 100% of our Group's organizational entities implementing hybrid work models inspired by the Group's principles, already achieved in 2022, has been confirmed in 2023.
Culture
Generali aims to be a sustainable Company where everyone feels valued, included, and equipped to face the future at best, while nurturing empowered and engaged Talents and Leaders.
To do so, we are committed to cultivate an environment that values Sustainability, enhances a customer-centric and Lifetime Partner mindset and fosters a meritocratic culture.
CULTURAL FRAMEWORK
Our cultural framework, based on Lifetime Partner Behaviors, together with our values and purpose will continue to be our pillar in the Next Normal and will lead us to support the Lifetime Partner 24: Driving Growth strategic plan in a sustainable way.
GENERALI GLOBAL ENGAGEMENT SURVEY & GLOBAL PULSE SURVEY
To measure and promote the engagement of our people, in 2021 we carried out the fourth edition of the Generali Global Engagement Survey. Starting from those results, each business unit has addressed the improvement opportunities emerged, identifying 428 local engagement actions. As of January 2024, 93% of these actions have been launched, with the ambition to implement 100% of them by the end of 2024.
As part of GPeople24 - Ready for the Next, we decided to enhance our employees listening approach with more active and regular interaction, increasing the moments to stay in touch with and receive input from our people. For this reason, in October 2022 we launched our first annual Global Pulse Survey, which is added to the Global Engagement Survey that will be conducted every three years.
- ~ 72,000 INVITED EMPLOYEES
- ~ 170 ORGANIZATIONAL ENTITIES
- ~ 63,000 RESPONDENTS
- + 50,000 OPEN COMMENTS RECEIVED
- 83% ENGAGEMENT RATE:
-1 p.p. compared to 2022
-1 p.p. compared to the market benchmark
Managerial Acceleration Program: MAP FORWARD
To ensure that all people managers are equipped with essential skills to effectively lead their teams, global managerial training programs have been launched involving more than 8.000 people managers within the Group.
The Managerial Acceleration Programs – the MAP2TheNew programs and the MAP FORWARD development journey - are based on Lifetime Partner Behaviours and GEM principles, emphasizing trust, ownership, meritocracy, and accountability, and are also available at local level for the new people managers.
In response to the dynamic context and emerging trends, the new Managerial Acceleration Program MAP FORWARD has been launched, empowering Generali people managers to embrace innovation and new technologies, drive strategic growth, strengthen people development and experiment, while fostering sustainability and simplification.
Diversity, equity, inclusion
Diversity, Equity, and Inclusion (DEI) are fundamental for our Group to promote a welcoming, respectful, safe and supportive environment where people feel free to express their best selves and unleash their potential. For this reason, DEI is an integral part of the way we work and do business every day and is supported by a structured governance and an annual monitoring process designed to support countries and business units in assessing the progress and impact of specific actions needed to achieve the Group's ambitions.
GENDER BALANCE AND PAY EQUITY
In order to promote a culture based on gender balance and pay equity, since 2020 specific analyses have been conducted at local level by applying a common methodology for the Group, focusing on equity in terms of the gender pay gap for same work or work of equal value (equal pay gap) and across the entire organization, regardless of roles (gender pay gap).
In 2023, we consolidated our methodological approach based on regression and worked to further improve the results in terms of equal pay gap, continuing to monitor the results of gender pay gap and accessibility pay gap to variable remuneration.
Compared to 2022, the equal pay gap result has improved, i.e. the difference between males’ and females’ base salary for the same work or work of equal value decreased by 0.7 p.p. The result of gender pay gap and the accessibility gap to variable remuneration have increased respectively by 2.0 p.p. and 0.3 p.p., due to the inclusion of new companies in the analysis.
Based on the results of the analyses, all countries and business units will continue to develop specific actions at local level, with the aim of structurally reducing the gender pay gap and supporting our ambition to achieve an equal pay gap towards zero in the strategic cycle 2022-2024. These actions include initiatives aimed at having a positive impact on gender balance and pay equity, both locally and in relation to the Group’s diversity, equity and inclusion strategy.
In order to support countries and business units on this path, an annual recurring monitoring process is in place in order to assess improvements throughout the entire organization and the impact of the actions taken and to prevent the gaps from arising in the future.
Skills
We provide our people with the knowledge and tools to continue to grow and support strategic business priorities in a sustainable way, enabling them to define their own customized training path based on their specific needs.
The sustainable ambition to become a Lifetime Partner to our customers, the ever-changing external environment, and the accelerating path of diffusion of new technologies require us to continue to invest in building and evolving core competencies for transformation through innovative approaches.
We will continue to invest, providing our people with cutting-edge skills to drive growth and transformation and make a difference in the new digital era, enabling us to thrive in the Next Normal and increase the impact and employability of our people.
We have launched and implemented an upskilling journey that in three years time will reach 70% of our employees on a new catalogue of skills, competencies, and behaviours - with a renewed focus on sustainability and data-driven innovation.
Organization
In today’s digital economy and ever-changing world Generali wants to continue optimizing his organization across processes and technology to succeed in delivering the business strategy and sustain an agile, effective, and productive working environment where people can work to their best ability.
As we navigate through the Next Normal, the final goal is to maintain and strengthen our ability to adapt and evolve by quickly implementing new ways of working and capturing emerging opportunities through an agile and effective organization rooted on digital.
Monica Possa, Group Chief HR & Organization Officer, presents GPEOPLE24
To meet the challenges of tomorrow while also leveraging on future opportunities, we developed the "Lifetime Partner 24: Driving Growth" business strategy, and our People are the true competitive strength to deliver the new plan effectively. This is why we've created the "GPeople24 - Ready for the Next". Watch the video to hear Monica Possa, our Group Chief HR & Organization Officer, present the new Group People Strategy.
Key Metrics to Measure our Success
Measuring results and performance is crucial to an organization's effectiveness.
That is why we have identified a set of key Group metrics to measure the success of the GPeople24 strategy.
This represents also a strong commitment towards sustainability. Indeed such ambitious metrics prove our strong commitment to build an inclusive, meritocratic and sustainable workplace for all Generali people across the globe.
| GPeople24 Priority | KPI | Results 2023 | Ambition 2024 |
|
Culture |
Engagement Index |
83% Higher than External Benchmark |
Higher than External Benchmark |
|
DEI |
Women in Strategic Positions |
34.8% |
40% |
|
Skills |
Employees Upskilled |
68% |
70% |
|
Organization |
Entities Working Hybrid |
100% |
100% |
