Workplace flexibility and diversity are hot topics. The antiquated 9-5 business model is no longer suitable for modern workplaces and companies that don’t embrace a new way of doing business will be left behind.
As business insurers, we feel it’s important to encourage and educate New Zealand companies on ways they can future-proof their business. Social initiatives that encourage diversity, inclusion and belonging play a huge part in this.
At NZI, we have a workforce strategy that builds a diverse and inclusive culture by providing a flexible, dynamic work environment that replaces out-dated corporate workforce models.
Initiatives under way include closing the gender pay gap and achieving 50% of women in senior roles by 2020, as well as raising the profile and support for specific employee groups including our Maori and Pride groups.
In addition, we encourage our people to embrace opportunities to work more flexibly, with flexible hours and the opportunity to work from home.
Research shows that flexible working conditions are a key driver for a highly engaged and productive workforce. By being flexible, companies open the doors to smart, time-savvy employees who will loyally get the job done, while maintaining a work-life balance.
There still seems to be some reluctance on the part of business leaders to ditch the 9-5 operation, and I don't get it. Our flex initiatives continue to generate strong engagement and have been a key driver of the improvement we have observed in our people engagement.
It is important business leaders get their heads around a new way of working to appeal to a new generation of workers. According to a study by Massachusetts’ Bentley University, 77% of millennials say flexible work hours would make the workplace more productive for people their age.
And not being in the office doesn't mean skiving off work. The same study also showed 89% of millennials check work emails after work hours.
Research also bolsters the case that employers who build diverse and inclusive teams see the best outcomes. A recent study done by software company Cloverpop showed that inclusive and diverse teams make decisions twice as fast, and decisions made and executed by diverse teams deliver 60% better results.
As well as diversity and inclusion, at NZI we focus on belonging. This highlights it’s not just about embracing our uniqueness, it is also ensuring we know we matter, that we are welcomed and feel “safe” expressing our individuality.
Of course, there are multiple priorities when it comes to running your business, but I’m a strong advocate for looking after your people, first and foremost.
Future-focused companies invest in their people - which includes providing a modern workplace - knowing that the rest will follow. This is epitomised in motivational speaker, Zig Ziglar’s quote, “you don’t build a business. You build people, and people build the business.”
Insurance is about so much more than just being there for our customers when the worst happens. We are trusted advisers that have a part to play in encouraging business sustainability. NZI’s purpose is to make the world a safer place; protecting our customer’s livelihoods, and in turn, this ensures we can continue to be here for New Zealanders well into the future.
