Our People
“In 2024, we focused on assessing the impact that the organisational changes we made in 2023 were having on our staff and their ability to deliver exceptional value for our members. As part of this process, we actively managed and enhanced our Employee Value Proposition to clarify and highlight our expanded commitment to mutuality. This was done within the context of our purpose- and values-driven culture; one in which an empowered workforce is inspired to continuously improve on PPS’s value proposition to members, advisers and other stakeholders.”
Masenyane Molefe
Group HR Executive
Our human capital philosophy
At PPS, we aim to attract, develop and retain select employees who are committed to and capable of delivering on our Member Value Proposition (MVP). This has always been our primary focus and will remain so as we implement our strategic objectives and aspirations.
Our human capital philosophy and management practices are informed by a well-defined and robust Employee Value Proposition (EVP), which expresses the value we place on our employees and the kind of working environment we aim to create and sustain. We also actively foster a purpose- and values-driven culture based on the principle that how we treat our employees ultimately defines how they treat our members.
Our culture
Building and maintaining a strong leadership and organisational culture is an essential focus for us, which is why this is one of our eight strategic themes (see the 2024 PPS Integrated Report for more details about our eight strategic themes). Our organisational culture drives results and supports caring, learning, development and a sense of belonging.
Our formal recognition programme, the Dream Protector Awards, celebrates employees’ achievements, acknowledging their hard work and dedication in protecting and furthering our members’ dreams. In addition, our broader cultural journey ensures that all our staff continue to receive training related to our values programmes, which include the Values Factor, Working the PPS Way and Communicating the PPS Way.
We also offer comprehensive training on environmental and social issues to complement our governance training. This aims to thoroughly familiarise our employees with environmental, social and governance (ESG) principles and our contribution to the UN Sustainable Development Goals.
Our demographics
In 2024, our total headcount increased to 1 711 from 1 599 in 2023 due to organisational growth. The staff profile is majority Black (African, Indian and Coloured) and two-thirds female.
| Nationality | 2023 | 2023 (%) | 2024 | 2024 (%) |
| South African (African, Indian, Coloured) | 1 202 | 75.2% | 1 286 | 75.2% |
| South African (White) | 353 | 22.1% | 378 | 22.1% |
| Foreign | 15 | 0.9% | 17 | 1.0% |
| Namibian | 29 | 1.8% | 30 | 1.8% |
| Total | 1 599 | 100% | 1 711 | 100% |
| Race | 2023 | 2023 (%) | 2024 | 2024 (%) |
| African | 738 | 47% | 803 | 48% |
| Coloured | 278 | 18% | 292 | 18% |
| Indian | 186 | 12% | 191 | 11% |
| White | 353 | 23% | 378 | 23% |
| Total | 1 555 | 100% | 1 664 | 100% |
| Gender | 2023 | 2023 (%) | 2024 | 2024 (%) |
| Male | 559 | 36% | 618 | 37% |
| Female | 996 | 64% | 1046 | 63% |
| Total | 1 555 | 100% | 1 664 | 100% |
*Headcount in bottom two tables excludes Namibia.
With 44% of the workforce being younger than 36 years, the company benefits from a mix of fresh, innovative ideas and seasoned insights. We have a strong focus on management and leadership development, and leverage age diversity to create an inclusive environment.
| Age | 2023 | 2023 (%) | 2024 | 2024 (%) |
| 20 to 25 | 113 | 7,1% | 124 | 7,2% |
| 26 to 35 | 591 | 37,0% | 635 | 37,1% |
| 36 to 55 | 806 | 50,4% | 845 | 49.4% |
| 56+ | 89 | 5,6% | 107 | 6,3% |
| Total | 1599 | 100% | 1711 | 100% |
Two-thirds of our employees have been with us for five years or less. However, almost 20% of staff have been at PPS for more than a decade. This mix of new ideas and experienced perspectives creates an environment that promotes collaboration and growth.
Human capital management in 2024
Talent management and succession planning continue to be our top priorities. We have implemented targeted development plans and talent initiatives to support these efforts. This strategy aims to maintain a strong pipeline of talent that aligns with our long-term business goals.
Considering the organisational restructuring implemented in 2023, and the ongoing nature of our digital transformation programme, our primary aim was to create a landscape ripe with developmental opportunities while strategically positioning key talent in pivotal roles. This initiative was integral to our goal of stabilising the business and ensuring its long-term viability. We are dedicated to enhancing our employees’ skills and actively responding to rapid transformation, particularly that driven by advancements in artificial intelligence (AI). By prioritising professional development and skill-building, we aim to equip our teams with the necessary tools to adapt and thrive in this evolving landscape, positioning our organisation for success in the future.
Talent attraction and retention
Talent attraction and retention are crucial in today’s highly competitive labour market. To strengthen our EVP, we have introduced a range of impactful new offerings designed to enhance our workplace appeal and create an environment where top talent thrives.
These initiatives demonstrate our strong commitment to creating mutual benefits for both our staff members and our organisation, as reflected in our human capital management practices and direct interactions with employees.
Throughout the year, we maintained a strong focus on several critical areas of talent management. Our efforts included programmes aimed at promoting mental well-being to help employees maintain a healthy work-life balance. We also emphasised the importance of psychological safety, ensuring that our workplace is one where individuals feel secure in expressing their thoughts and ideas without fear of reprisal. Additionally, we invested in employee development through targeted training and mentorship programmes designed to enhance skills.
Employee wellness
Our holistic wellness programme is designed to support the mental, social, physical, emotional and financial well-being of our employees through a diverse range of initiatives. At our Head Office in Johannesburg, a fully equipped gym encourages physical fitness, complemented by yoga classes and organised walking and running groups that promote an active lifestyle. To prioritise mental well-being, we introduced bi-weekly mindfulness sessions, fostering a supportive community where employees can develop coping strategies and manage stress effectively. Additional initiatives include an upgraded data package for enhanced connectivity and a wellness platform featuring resources such as yoga, mindfulness sessions, and fitness activities. We also introduced an extra day of leave for employee volunteerism, reinforcing our commitment to mutuality and social impact.
As a financial services provider, we believe it is also important to look after our employees’ financial wellness. Our financial wellness sessions guide employees through the complexities of managing their finances, empowering them to navigate their financial journeys with confidence. We also offer educational support for employees’ children.
In terms of social engagement, we organise a variety of Group-wide and divisional events throughout the year, aiming to enhance engagement and camaraderie among team members. These events include workshops and celebration days that nurture teamwork and collaboration.
Additionally, we host monthly in-person social gatherings, creating opportunities for networking and relationship-building, which is particularly important for those working in hybrid settings. These initiatives are designed to foster meaningful connections among colleagues and create a stronger sense of community within our organisation.
Employee engagement
We achieved a remarkable 85% participation rate in our 2024 Employee Engagement Survey. This is consistent with the previous year, demonstrating a strong commitment to engagement among our workforce. Our overall engagement score reached 74% in 2024, reflecting a 10% increase in this score over the last five years, indicating a positive trend in employee satisfaction and involvement. Moreover, we have observed a growing interest among our staff in participating in staff initiatives and events throughout the year, which is a promising sign of increased engagement.
Employment equity and transformation
To remain abreast of the updates and ensure compliance, the PPS Group has been proactive in assessing the impact of the proposed numerical sector targets for the finance and insurance sector and will be commencing with the preparation of a new employment equity plan. The Department of Employment of Labour introduced updated targets for the financial and insurance service sectors in February 2025. These targets have not yet been signed into law. If the February 2024 regulations remain, the PPS Group is tracking very positively. However, should the current proposed targets be implemented, we will need to revise our strategy to strive to meet the targets.
The annual employment equity reporting period opened from 1 September 2024 to 15 January 2025. The PPS Group once again successfully submitted its annual report.
Rewarding performance
Rewarding exceptional performance is a cornerstone of our human capital management practice and this is done using several mechanisms. For example, all employees undergo a minimum of biannual formal performance review to complement ongoing performance management. Informal performance discussions and coaching happen more frequently throughout the year. The outcomes of the formal performance reviews are considered during the annual remuneration review.
Retirement benefits are naturally a vital component of our EVP, as are our disability benefits. The latter provides employees with a salary should they be unable to do their work, either temporarily or over a longer period.
Notable trends
One of the most notable trends in human capital management is the impact that AI is having in the workplace. AI is being used to enhance our work processes by automating routine tasks, which enables employees to concentrate on more strategic initiatives and creative problem-solving. We are continuously reviewing our processes for efficiencies and assessing how these changes affect our staff as we adapt to evolving circumstances.
Learning and development
At the close of the previous period, we knew that we would need to adopt a two-pronged approach to staff training and development going forward. Not only would we need to strengthen and empower our staff by helping them to become better at their current jobs, we would also need to prepare them for the jobs of the future. Further, while our curriculum was well aligned with our goals as a business, we knew it would also need to consider individual learning needs and interests.
We focused on four development areas during the year: distribution, service, leadership and culture, and digital skills.
Projects and programmes
One of our key activities in 2024 was our individual development programme campaign, which was designed to facilitate learning and development conversations between staff, managers and the Academy. We enabled more than 700 “Career Conversations Over Coffee” with staff through this campaign, which was launched in June. The feedback we received has been invaluable to our curriculum planning as it has provided us with useful insights into skills development and career advancement needs.
Several sessions are being facilitated to help raise awareness about change in the business environment and to help staff reach their full potential on the change-management spectrum. This includes initiatives aimed at promoting change awareness, upskilling leaders on how to manage change and engaging with staff about potential role transitions.
Our culture journey, which is centred around embedding PPS values, is ongoing and, in 2024, we designed and began delivering an immersive workshop called “PPS Values Through a Sustainability Lens”. The workshop content includes rich business context, a personal values exercise, a sustainability goals board game and a personal and team commitment to sustainability.
Our Leading the PPS Way programme, which develops leaders at all levels, is also ongoing. A companion programme called the Young Leadership Forum offers a rigorous three-year journey, which focuses on Harvard ManageMentor content, strategic projects and internal mentorship.
The Academy surpassed all of it key goals in 2024, demonstrating its dedication to excellence and ongoing development.
Training metrics
Number of enrolments: 8 120 (2023: 6 354)
Training hours: 35 972 (2023: 30 052)
Number of staff trained through PPS Values through a Sustainability lens: 425
Number of employees receiving study assistance (bursaries): 105
Staying competitive through people
At PPS, we regard our MVP and EVP as complementary and believe they offer a unique competitive advantage. In line with the goals of our current five-year strategy, we will continue to assess and adapt our human capital practice – including our EVP – in response to our staff and local and international best practices.
Among other initiatives, we are developing a platform that will enhance the overall learning experience for our staff. It will also create opportunities for our members and intermediaries to have access to content that will enrich their continuous professional development journey.
https://www.pps.co.za/human-capital-management