Securing employee satisfaction Defining the issue: In a country characterised by a pervasive shortage of skills, the ability to attract, develop and retain talent is vital. We believe how we treat our employees ultimately determines how they treat our members. Managing employee satisfaction is, therefore, a fundamental material matter for the business. PPS’s response: Our full response to this challenge is outlined in the Human Capital section on our website. Among other initiatives, we conduct an employee satisfaction survey at the end of every year to measure all aspects of employee well-being and development. Engagement in the survey is consistently high and indicates our commitment to our Employee Value Proposition. Dealing with regulatory issues Defining the issue: Financial services is a heavily regulated industry. We comply with all laws and regulations governing the industry. There should, however, be a balance between protecting customers, supporting the financial system’s stability and dealing with demanding, voluminous legislative requirements, which are constantly changing. PPS’s response: Leveraging extensive research and analysis, we have implemented adequate and robust processes. This allowed us to determine capital requirements and the impact on the Group’s current and future solvency position. This forms part of the Own Risk and Solvency Assessment (ORSA) and is submitted annually to the Regulators after it has been approved by the Board. We also actively engage with government and regulators on matters that can or do influence our members and the professional community as a whole. MATERIAL MATTERS AND RISK MANAGEMENT 48 Material matters and risk management
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