2020 INTEGRATED REPORT

HUMAN CAPITAL “We are moving into a new era of work and now, more than ever, we expect our staff to have a leadership attitude regardless of their role. We will continue to foster a purpose- and values-driven culture in which an empowered workforce can continuously improve on our value proposition to our members.” Masenyane Molefe HR Executive OVERVIEW The year 2020 was uniquely challenging from both a business and human capital management point of view, but also unlocked many positive developments. The protracted lockdown accelerated the digitalisation of work and made us relook the way in which the business is organised. OUR HUMAN CAPITAL PHILOSOPHY AND CULTURE Our human capital strategy is underpinned by a strong employee value proposition (EVP), with the aim of attracting, developing and retaining excellent employees who are capable of delivering on the Group’s member value proposition (MVP). This is based on the belief that the way PPS treats its people will ultimately define the way they treat PPS members. The PPS EVP articulates PPS’s imperative of creating a professional working environment, where staff are serving professionals. PPS is acutely aware of the competitive nature of the labour market in financial services, and that talented individuals have a myriad of sought-after brands to choose from. In current times, talented individuals are deliberate about choosing the organisations where they want to work. Hence, to attract and retain the best people, PPS must offer a differentiated EVP, making this a great place to work. It was advantageous that we have a strong values- based culture at PPS. This would be our anchor as we navigated through the unfamiliar territory that the year presented. We found that staff could indeed take extreme ownership. This was important in a remote working environment, where too much centralised decision making would slow an organisation down. PPS has consciously developed a more collaborative environment across business areas over the last few years, a flatter management structure with wider spans, and an environment where staff are empowered to take accountability. Our value of being eternally curious and treasuring new learning helped staff embrace new skills and ways of working. And our value of doing the right thing assisted staff in decision making and not unnecessarily escalating problems where it could potentially bottle-neck. A big concern with the rapid move to remote working and the pandemic in general was the mental health of our staff and the possibility of burnout. This concern was addressed through many creative interventions. One is our partnership with Reality Wellness Group that provides our staff with a comprehensive range of wellness interventions. 18 | PPS INTEGRATED REPORT 2020