Corporate leaders must incorporate Diversity, Equity, and Inclusion (DEI) principles into employee benefits packages if they want to attract and retain talent, according to Kadene Gibbs, Head of In-Force Management at Hannover Re South Africa.
Speaking at the Botswana Life Second Annual Employee Benefits Convention under the themeย Transforming Employee Benefits through Creative Solutions for Long-Term Sustainability, Gibbs emphasized the importance of diverse perspectives in shaping inclusive and effective policies.
She applauded companies for integrating DEI into their recruitment strategies but stressed the need for this commitment to extend beyond hiring practices and into the realm of employee benefits.
โFertility benefits are still being structured around heterosexual couples and just not recognizing that the definition of family has changed. And then lastly, disability policies overlook mental illness and neurodivergence,โ Gibbs said.
She urged companies to develop tailored programs that reflect the diverse needs of their workforce, aligning benefit structures with shifting societal norms.
Gibbs also highlighted initiatives at Hannover Re South Africa, including tools that enable scheme members to manage their personal policy information and access additional insurance benefits suited to individual needs.
She discussed the growing role of technology in preventive care, citing projects such as a โvideo selfieโ solution and wearable devices that collect essential health data.
โWith the video selfie solution, we were able to capture information like blood pressure, BMI, and some heart risk conditions โ all from a 30-second video,โ she said.
Felicia Sibiya, an Actuarial Professional in Business Development at Hannover Re South Africa, emphasized the importance of using a range of strategies to promote equity and inclusion in employee benefit design.
She encouraged the adoption of flexible benefits, where a standard set of core benefits is offered to all employees, but with the ability to customize based on individual circumstances, though she acknowledged this may increase administrative complexity.
โWe could offer a very basic benefit for people who are single or married with no children. Then, when they get married or have a partner, they can add spousal benefits. When they have children, they can add benefits like education support,โ Sibiya said.
She also advocated for structuring life insurance and other key benefits in ways that support vulnerable community members, particularly those lower in the organizational hierarchy, to encourage a more equitable distribution of resources.
Sibiya concluded by stressing that the success of DEI initiatives lies in understanding the varied realities employees face.
โPeace of mind looks different for all of us,โ she said.
