ECIC AR 2024 9TH

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Integrated Report 2024

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INVESTING IN OUR PEOPLE To build a successful Corporation of the future, ECIC needs appropriately skilled and capable employees. In FY2024, key focus areas were to attract, retain and develop talent and skills.

Employee Retention During the period under review, the employee attrition rate was up from 6% to 10% but was still within the tolerable rate of 15%. The Corporation achieved a retention rate of 90% (2023:94%) against an internal target of 85%. While ECIC recognises the mobility of a millennial workforce, it expects its staff retention rate to be within its tolerable rate of 85% in the foreseeable future. Employee Development The Corporation invested R4,5 million in employee development for the period ending March 2024. We believe skills development is integral to every role and we are committed to supporting our employees to develop their skills and grow. By encouraging employee skills development, we continue to transform the skills profile of the Corporation ensuring that it has the requisite skills to deliver on its strategy. Learnerships The Corporation continued to implement a learnership programme with eight (8) learners living with disabilities during the period under review. This programme is aimed at assisting students who live with disability and lack necessary resources to further their studies. The eight learners graduated with a National Certificate in Generic Management. Employee Wellness Employee wellness remained a priority during the year, and the Corporation continued to drive several employee support and engagement activities. The employee assistance programme assisted ECIC employees with coping strategies, stress management, grief counselling and parental guidance. Employee wellness days were hosted throughout the year.

Table 15: Investing in our People

2022/23

2023/24

Number of full-time employees

92

98

Salaries and benefits (Rm) Women representation in Executive Committee (%) Black representation in Executive Committee (%) Total training spend (Rm) Training spend as a percentage to salaries and benefits (%)

R85,457 million

R90, 207 million

33% 40%

83% 80%

R2,9 million R4,7 million

3%

5%

Staff Complement and Employee Diversity The Corporation continues to have a lean staff complement. During the reporting period, staff complement consisted of 98 employees (2023:92), including those on fixed-term contracts and graduate trainees. The growth in staff complement is to ensure that the Corporation has sufficient capabilities for the medium- to long-term trade insurance and short-term trade insurance. In FY2024, the Corporation maintained a slightly higher representation of female employees relative to male employees, with 54% female employees and 46% males. The number of employees living with disabilities remained 4% and is slightly above the Financial Services Sector numerical target of 2%.

YOUR EXPORT RISK PARTNER

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