Atlas Magazine June 2014

Training, an investment

Rich or poor, large or small, insurance companies recognize that human resources are their greatest asset. While for some business leaders this finding stands as a "soft consensus", we must acknowledge that the concept of "human capital" has come to dominate. By the same token, training either basic or ongoing is the preferred investment driver likely to sustain and develop this resource.

For instance, Axa, one of the world's market leaders disbursed 110 million USD on training in 2013. Nearly 90% of its 113 000 employees have received training sessions. During the same year, the group spent 341 924 days of training, that is an average of three days of annual training per employee.

Regarded as a constraint in the past, training has become a strategic tool for development whose benefits are not solely appreciated in terms of numbers. Training has broader goals: creating a corporate culture, harmonization of knowledge, development of skills, excellence research, understanding of process, etc.

Under pain of extinction, insurers are bound to evolve simultaneously on several fronts. They have to meet the current needs of their customers while anticipating their future requirements.

This vital need to stick to the market is also felt by the employees themselves who are seeking training. They are in need of training and mobility, because inertia is a threat to them, with certain professions bound to either change or disappear.

Imposed by the insurer and desired by employees, training has become today a real “intangible asset”, creator of values.

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