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Africa-based life insurer: Strategic workforce planning

Helping a life insurance company improve workforce planning and coordination to realize profitable growth.

Overview

Accenture performed strategic workforce planning for an Africa-based life insurance company’s key business unit. The exercise enabled the client to identify a wide range of requirements, seamlessly coordinate workforce needs among multiple functions and build a foundation for profitable growth.

The client is a leading international long-term savings, investment and protection group, with a large customer base. As part of its strategic growth objectives, the client engaged Accenture to conduct workforce planning for its key business unit, which has more than 5,000 people.

Solution

Accenture’s Analytics team collaborated with the client to examine the drivers of workforce demand and productivity, and identify growth parameters for each role and function in the client’s business unit by focusing on three steps:

  • Analysis of critical roles: Analyzed all positions in the business unit to target the most important ones.

  • Workforce planning process: Identified gaps between workforce demand and supply by focusing on critical roles; growth was estimated based on demand drivers, and supply was determined by projecting attrition, retirement and promotion rates.

  • Fulfillment scenarios: Recommended a set of actions to resolve the anticipated workforce gaps.

Results

Identification of high-priority requirements helped align the project to the client’s overall strategic growth objectives. The solution has helped the insurer improve the coordination of workforce requirements between various functions.

We used analytics to determine natural attrition rates, retirement trends, efficiency levels and workforce fulfilment scenarios, and helped the insurer identify whether workforce shortfalls can be addressed through internal or external recruitment.

Accenture also delivered an interactive workforce planning tool that can be reused to repeat the same exercise in the client’s other business units.