ECIC IR 2023

Integrated Report 2023

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Investing in our people To build a successful Corporation of the future, ECIC needs appropriately skilled and capable employees. In Financial Year 2023, key focus areas were to attract, retain and develop talent and skills.

Table 3: Investing in our People

2021/22

2022/23

Number of full-time permanent employees

87

92

Salaries and benefits (Rm)

R79,230 million

R85, 457 million

Women representation in Executive Committee (%)

17%

33%

Black representation in Executive Committee (%)

83%

83%

Total training spend (Rm)

R3 million

R 2,9 million

Staff complement and employee diversity The Corporation continues to have a lean staff complement. During the reporting period, staff complement consisted of 92 employees (2022:87) 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 term to long term trade insurance and short-term trade insurance. In Financial Year 2023, the Corporation maintained a slightly higher representation of female employees relative to male employees with 53% female employees and 47% males. The number of employees living with disabilities increased from 2.4% in 2022 to 4% in 2023. This is evidence that the Corporation continues to make steady progress on diversity and inclusion. Employee and retention During the period under review, the employee attrition rate was up from 3% to 6% but was still within the tolerable rate of 15%. The Corporation achieved a retention rate of 94% (2022:97%) 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 R2,1 million in employee development for the period ending March 2023. By encouraging employee skills development, we continue to transform the skills profile of the Corporation ensuring that the Corporation has the requisite skills to deliver on its strategy. Learnerships The Corporation continued with implemented a learnership programme with 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 8 learners graduated with a National certificate in Generic Management.

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