Human Capital Management

Consistent with the long-term perspective we bring to managing our business, we view our human capital management through a long-term lens. The talent and expertise of our more than 30,000 employees are critical to maintaining our competitive advantages in a rapidly evolving business landscape. And it is our employees who collectively drive our performance and fuel our ambitious innovation agenda. We recognize that maintaining our talent advantage requires a sustained investment in our people. When we deliver on our promise to our employees and their families, promoting an inclusive workplace and committing to their wellness and success, we are able to deliver on our promise to our customers and drive shareholder value.

Approach

We owe our success to our extraordinary talent. Our future success requires that we continue to attract, develop and retain top talent and maintain our unique culture – a culture that embodies our foundational values of honesty, integrity and accountability and is built on four components: putting Travelers first, long-term thinking, collaboration and a commitment to everyone else’s success. Our approach to human capital management starts with our innovative talent acquisition strategies, which are designed to help us attract the best people from a broad pool of talent. When an employee joins Travelers, we seek to provide them with opportunities that foster personal and professional growth and an inclusive environment in which our employees feel valued and engaged, allowing them to maximize their potential. And throughout their careers with us, we seek to provide our employees with comprehensive benefits and equitable and competitive compensation plans.

Board oversight

Our Board of Directors takes an active role in overseeing our human capital management strategy, including our initiatives to shape our workforce and workplace to drive business performance and ensure that we are well positioned for the future. Our Chief Human Resources Officer – a member of our Management and Operating Committees – and other senior executives regularly present to the Board on these matters, including on the progress the company has made over time. Additionally, consistent with its charter, the Nominating and Governance Committee meets with the company’s CEO to review and discuss succession matters at least annually. The Nominating and Governance Committee of the Board also meets regularly with senior management, including our Chief Diversity & Inclusion Officer, to review and discuss our strategies to encourage diversity and inclusion within our company. In addition, pursuant to its charter, the Compensation Committee of the Board, which is advised by an independent compensation consultant, reviews and approves the company’s general compensation philosophy and objectives. The Compensation Committee also meets with senior management on a regular basis to discuss the company’s practices designed to help ensure equitable pay across the organization.