Frank Risk Management is a Top Insurance Workplace for 2020, recognised for the many initiatives it rolled out to provide its people with a fun, engaging, and healthy work environment.
FRM provides professional development opportunities to its people using in-house expertise and external speakers, in addition to industry and NZbroker training opportunities. The firm also awards most of its attendee allocation for attending conferences to non-managerial team members, as they are the ones who often get more out of the experience.
FRM staff get the chance to move up the ranks, or in some cases, move sideways into another role within the business, whenever possible. For graduates joining the team, they are provided with full training as well as the opportunity to study towards insurance qualifications, which is fully paid by the company.
Frank employees are updated about the organisation’s budgets and performance, successes and disappointments, and are encouraged to share their experiences, including their mistakes, to the team so everyone could learn something about them.
Frank employees are provided with platforms and hardware that make work easier and more efficient. Examples of these are a workflow management system that enables team members to communicate and see precisely where every piece of work has progressed to, a client management software that is cloud-based and can be accessed via a terminal server, and the use of laptops to replace the firm’s last few retiring desktop computers.
Frank launched initiatives that support its employees’ work-life balance and health and wellbeing. Staff can bring their children to work, providing them space to do schoolwork and entertain themselves safely. There are also wellbeing “Bootcamps” and one-hour gym sessions to keep staff physically fit and healthy. The organisation is also in the process of making work flexible for those who want to work from home.
Frank has in place an employee dividend program that is designed to promote team contribution to the bottom line result. All non-managerial staff, who have worked for the company for the full duration of the year in question, qualify to receive an equal share, regardless of their position or hours worked, of a percentage of the organisation's net profit. Frank also recognises individual effort monthly with a Happy Hundy award, where the winner, as the name suggests, receives $100.
