How Swiss Re fosters a high-performing and inclusive work culture

“Employees today want to matter and be heard. They seek purpose, autonomy, and meaningful engagement and a job that motivates them.” –  Cathy Desquesses, Group Chief HR Officer and Head of Corporate Services, Swiss Re

Introducing an organisational redesign in 2023 that focused on granting employees greater responsibility and empowerment, 2024 has been a defining year for Swiss Re marked by key leadership transitions.

As Group Chief HR Officer and Head of Corporate Services of Swiss Re, Cathy Desquesses has worked tirelessly to help the Swiss reinsurance company strengthen an inclusive workplace culture that empowers employees to thrive.

In this wide-ranging interview with HRM Asia, Desquesses explains Swiss Re’s holistic approach to DEI, the company’s leading strategies to attract and retain the best talent, and more.

As a HR leader, what do you think have been some of the most challenging or defining developments for you in 2024?

Cathy Desquesses: There have been a number of pivotal moments for us at Swiss Re in 2024, which were part of the journey we have embarked on since 2023.

Swiss Re implemented an organisational redesign last year aimed at simplifying our operations and enhancing our culture. This evolution introduced new behaviours that granted employees greater responsibility and empowerment. In 2024, we concentrated on integrating this into our everyday actions, creating a more dynamic and high-performing atmosphere.

We also underwent significant leadership changes, with Andreas Berger, previously the CEO of Swiss Re Corporate Solutions, stepping into the role of Group CEO in July. We have had changes too in our Executive Committee. Their leadership vision will progress on the work that has already started and position us to be an even more successful company that is client centric.

You recently celebrated DEI week with the theme “Stronger Together – Inclusive for Impact”. Can you share more with us about how Swiss Re is building a more inclusive workplace across the globe?

Desquesses: At Swiss Re, we believe inclusion is the key to leveraging our diversity and to channel the power of different perspectives. We draw upon our diversity to understand our clients and markets, develop smarter solutions together and help the world to rebuild, renew and move forward. In this way, we work towards our vision to ‘make the world more resilient’. 

Inclusion is central to every stage of the employee life cycle, from recruiting and onboarding to reward, development, progression, and separation. We continue our focus on inclusion-proof people practices such as ensuring diverse candidate slates as well as diverse selection panels and recruitment practices; and continued support on flexible work arrangements and family friendly policies such as the recently introduced equalised parental leave policy.  

Swiss Re will also be implementing a global ‘minimum standard’ for pay transparency with roll-out for APAC in 2025.  With the pay transparency framework, we seek to attract more external candidates. Internally, we hope the transparency will equip all our employees with pay setting expectations, career progression and better understanding of our global efforts towards truly being an employer with Diversity, Equity and Inclusion (DEI) at the heart of it all. 

How do you assess the success of these measures to build an inclusive workplace?

Desquesses: Our holistic approach to DEI aims to create a sense of belonging for everyone through an inclusive culture and inclusive practices. This is evident in our recent Our Voices Survey (October 2023), where almost nine in ten Swiss Re employees (88%) feel that their line manager models inclusive behaviour, and 75% of employees believe that they can be their authentic selves at work. 

What is your view on the continued insistence of some companies for employees to return to the office and what is Swiss Re’s approach to this – is flexible work still a priority for you?

Desquesses: Our employees have the flexibility to manage their own working patterns while recognising the key role of our physical office to allow for personal interaction. Flexible work will continue to be a priority for us as Swiss Re strives to offer an attractive environment where employees can perform at their best. It supports a culture of performance in which clear expectations result in accountability for outcomes. 

We recognise that different people have different needs and preferences when it comes to how they work. Our trust-based flexible work model – Own The Way You Work – has been in place even before the Covid-19 pandemic. It motivates and engages teams to have open discussions with their managers and determine how they can structure their workday, while taking into consideration team needs, adherence to the local applicable laws, rules and regulations.

Our employees are expected to take on responsibility for their work and they are empowered to be fully accountable for what they do. Delivering on our targets depends on our people performing at their best and thriving in our inclusive culture. Likewise, they are rewarded and recognised through our performance culture.

What do you see as being current priorities for employees?

Desquesses: Employees today want to matter and be heard. They seek purpose, autonomy, and meaningful engagement and a job that motivates them.

At Swiss Re, we recognise that addressing these priorities is crucial in our strategies to attract and retain top talent. Our approach emphasises three key themes: Performance, Culture, and Talent Management.

Can you elaborate more about the three key themes?

Desquesses: We encourage employees to take ownership of their careers and hold themselves accountable for their work. This focus on performance means that we prioritise delivering on our targets, ensuring that employees are rewarded for their output rather than mere effort. Employees want to work in winning teams in a successful company. This gives them pride in their jobs.

As mentioned, a diverse workforce enhances business performance, and we strive to create an environment where all employees can thrive and contribute to making the world more resilient. Along with an inclusive culture where every employee feels valued, a sense of belonging and can bring their authentic selves to work.

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In terms of talent management, we are looking into our development programmes and leadership curriculum. This involves nurturing and retaining our talent through innovative, personalised solutions and best-in-class training that equips them for their current roles and prepares them for future challenges. Our strategy includes developing strong leaders who can engage, inspire, and provide continuous feedback and clear direction. In addition, our Strategic People Planning helps us anticipate workforce evolution and supports our efforts to prepare for the future.

How will this impact organisations’ strategies to attract and retain the best talent in 2025?

Desquesses: In today’s competitive talent market, building a reputation as a great place to work is essential. We have recently evolved our Employee Value Proposition (EVP) and launched flagship campaigns that have been highly successful in attracting top talent. We will continue to run such campaigns next year. However, there is still work to be done to further showcase the exciting and diverse opportunities available at Swiss Re.

Through continuing to prioritise performance, culture, and talent management, we are confident that we will attract and retain top talent who are proud to work for us, driving our company’s success into 2025 and beyond.