Can 58 pages spark a new era for HR?

Companies often talk about the importance of people to their success, but Allianz is trying to prove it.

Fifty-eight pages long and a year in the making, the recently published 2021 edition of the Allianz People Fact Book is part of a larger effort by Allianz to create a comprehensive portrait of the company’s human capital and human resource practices. “It’s acknowledging the contributions of our workforce to our business outcomes,” says Nikol Koumpouli, a workforce analytics and reporting expert on the six-person Fact Book team in Munich.

Koumpouli and her co-authors hope the Fact Book will not only help Allianz improve its people practices but spark an advance in how investors define corporate value, by making it easier for peer companies and investors to see more clearly the ways in which employees and HR policies contribute to performance.

Click on the image to download the 2021 People Fact Book as PDF

A benchmark is born

Since its first edition in 2010, the Fact Book has had two principal aims, organizers explain, one internal and one external. The internal: to give all 60+ units of the Allianz family concrete ideas about how they can make their employees happier and more productive. The external: to lay the groundwork for a future in which the successful handling of such issues as diversity, inclusion, and employee engagement are recognized as core parts of corporate value, quantifiable as any financial ratio.

These goals took a dramatic leap forward last year, when Allianz became the second company in the DAX 40 to have its HR reporting processes certified under the new international standard for human capital reporting, ISO 30414. The 4C Group, a recognized management consultancy and member of the International Organization for Standardization committee that developed the gauge, conducted the certifying audit. 

By following the new ISO standard, Allianz is now able to track employees’ collective productivity, diversity, health, and other HR-related metrics in a consistent way across all 60 business units. Allianz HR executives say consistency in tracking these metrics will help make employees’ contributions to the group’s success more transparent to the entire Allianz community, including its managers and investors.  

In addition to its internal benefits, the Fact Book team hopes that Allianz’s example will encourage other companies. Although only three companies in the DAX stock index have achieved this certification, Koumpouli argues that Allianz’s embrace of the ISO standard will encourage other companies to identify and adopt more HR best practices, and simpler for investors and HR executives to compare HR performance. 

Allianz’s Fact Book is a compendium of information about all 155,000+ Allianz employees around the world. It is divided into seven chapters, each of which corresponds to one of Allianz’s biggest HR initiatives of the year, such as promoting diversity and mental health and well-being. Producing the Fact Book is always an enormous undertaking, organizers say, involving contributors from all 60+ business units as well as the work of a seven-person analytics and editorial team. It covers a variety of HR metrics compiled according to the ISO rules, including the percentage of female employees (52% overall but 39% of managers), average number of sick days (6.9, same as 2000), and degree of engagement (76% of employees are highly engaged at work, slightly below last year but 4% higher than 2019),

Impact of attention

Correlation is not causation, the team’s attention to detail does seem to be paying off.  Stefan Britz, the Chief Human Resources Officer of Allianz, wrote in the preface of this year’s report that the company has won a lot of recognition for its diversity and inclusion. In 2021, it was ranked second on the German Diversity Index, making it the only German company in the top 20. It’s also number 5 on Refinitiv’s Top 100 Most Diverse and Inclusive Companies list, the only insurer in the Top 100.  

But in business, no good deed goes unpunished: competition over employee analytics is now heating up, just as the Fact Book’s authors hoped it would. “Now other companies are following us,” said Jochen Fehringer, Head of HR Analytics for Allianz.  “They use our published figures to compare their performance with us.” 

The upshot: organizers say the 2021 Fact Book brings us one step closer to a world where people in every business are valued for what they contribute.

The Allianz Group is one of the world's leading insurers and asset managers with more than 126 million* private and corporate customers in more than 70 countries. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing around 706 billion euros** on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage nearly 1.7 trillion euros** of third-party assets. Thanks to the systematic integration of environmental, social and governance criteria in our operations, business processes and investment decisions, we continue to be recognized as among the sustainable insurers in the Dow Jones Sustainability Index (September 23, 2022). In 2021, over 155,000 employees achieved total revenues of 148.5 billion euros and an operating profit of 13.4 billion euros for the group.

These assessments are, as always, subject to the disclaimer provided below.

*Including non-consolidated entities with Allianz customers.
** As of September 30, 2022

Press contacts

Gesa Walter
Allianz SE
As with all content published on this site, these statements are subject to our cautionary note regarding forward-looking statements:

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