Creating a sustainable talent pipeline for the future

23 October 2018 Old Mutual Insure

With a youth unemployment level sitting in the region of 52%, drastic steps need to be taken to ensure the future remains bright for the next generation. As a leading organisation within the South African insurance industry, Old Mutual Insure launched an initiative which seeks to help young and talented individuals to kick-start their careers in the financial services sector.

The Development Trust Internship Programme upskills and provides employment opportunities for young South Africans.

“The focus of the trust is to provide a learnership programme for young individuals from previously disadvantaged communities with an interest in pursuing careers in the financial services sector. The trust will essentially create a sustainable talent pipeline and help to transform distribution channels,” explains Judy Mahadeo,Old Mutual Insure’s Human Resource Executive .

Interns are placed within Old Mutual Insure and at various brokerages, where they acquire the necessary industry-specific skills. As the learners progress they could be permanently employed within Old Mutual Insure or in the broader industry whenever job opportunities arise.

“Launched in February 2016, Old Mutual Insure took on 80 learners on a one-year programme. By the end of 2017, 71 learners got Short Term Insurance qualification and 32 learners completed the RE5 insurance qualification successfully. 11 learners had been permanently employed within the company. The learners who remained were joined by 6 new learners to continue their journey. The results only improved, the 2017/18 internship programme resulted with 79 interns gaining permanent employment and 4 left the programme to pursue exciting opportunities within the industry,” says Mahadeo.

To date, the programme has contributed to the upskilling of more than 80 members of the youth and the permanent employment of 79 interns.

Feedback from our successful learners:
“The programme was beyond my expectations. It was great experience learning about business decisions and about risk. I have grown in maturity and professionalism due to overcoming the challenges I encountered.” - Kwanele Kamana, a Enterprise Risk Analyst.

“The programme was amazing and has taught me some vital skills such as being disciplined; it has made me open minded towards learning new things and has taught me to think beyond my immediate circumstances.” - Nomkhosi Dlamini, Quality Assurance Specialist.

“The programme has been phenomenal and made me realise that there is a huge difference between school and corporate environments. It has offered me an opportunity to gain workplace experience as well as a qualification.” - Kayleen Perumal, Junior Human Resources Business Partner.


Quick Polls


In its current format, what will the future of medical schemes be in an industry run by the NHI?


I just can’t see it (NHI) happening
There is a real risk of our already fragile healthcare system being placed under even further pressure leading to a total collapse
Medical schemes will struggle to remain in existence if NHI does happen; there isn’t enough money in the system
A E fanews magazine
FAnews August 2019 Get the latest issue of FAnews

This month's headlines

Create designer policies through AI
Are advisers in a precarious position?
A claim, COIDA and a dog bite
Non-disclosure never an innocent fraud
Prescribed assets: The threat to pensions
Cannabis and the issue of trust
Getting the most from disability claims
Subscribe now