Human Capital Management: Employee Experience

More than ever before, employees want and expect a workplace that aligns with their needs, wants and values. When employees feel supported and engaged, they in turn drive better business results and shareholder value. Therefore, we strive to deliver an employee experience that engages our teams and strengthens our organization.

Our employee experience program centers on gaining understanding of what drives performance and supports business priorities. We review external market data and conduct internal focus groups and surveys to drive deeper understanding across business groups and teams. This evolving program helps us understand why employees leave and, more importantly, what encourages them to stay and grow their careers with Travelers. Our CEO and senior leaders across the organization review the recommendations that are designed to improve our processes and ultimately shape and refine our culture.

To evaluate the employee experience and the success of our engagement efforts, and to inform the inclusion and leadership strategies we use to enhance employee engagement, we work with an independent employee insights platform to conduct an employee survey. Managers receive their teams’ results in aggregate form and are encouraged to share them with their teams and develop action plans accordingly.

Our 2023 survey results demonstrate that most employees feel positive about their overall experience at Travelers; our overall employee net promoter score (eNPS) increased over the previous year and scored above the 75% benchmark for companies using the same survey platform. Culture and overall team engagement were among our highest-scoring dimensions across the organization and were key drivers of employees’ satisfaction. We have opportunities that align with some of our existing priorities, including our focus on employee career development tools and resources, which we plan to expand in 2024.

Our average tenure and voluntary turnover rates demonstrate the power of our culture and the attachment our employees have to the organization. The average tenure for Travelers is 12 years, and it is over 20 years for the company’s approximately 700 most senior leaders. In a competitive labor market, our two-year average global voluntary turnover rate is consistent with our turnover rate prior to the pandemic.

Tenure & turnover

We are confident that our employee experience and inclusion efforts will continue to have a strong impact – by shaping a workforce and workplace that drives exceptional business performance.