Total Rewards Asia Summit 2024 Singapore
Winning Secrets: Prudential Singapore's people strategy is to invest in the social capital of the workforce

Winning Secrets: Prudential Singapore's people strategy is to invest in the social capital of the workforce

This involves recreating a sense of belonging in employees, a culture of continuous learning, equipping them with future-ready capabilities and more.

Prudential Assurance Company Singapore (Prudential Singapore), an indirect wholly-owned subsidiary of UK-based Prudential plc, is a life insurance company serving in Singapore for more than 90 years. It delivers a suite of product offerings and advisory through a network of more than 5,000 financial consultants and bank partners.

As a company's journey is only made possible with the right tools, leadership, and an empowered workforce, Prudential Singapore was awarded with the silver award for 'Excellence in Business Transformation' at the 2022 HR Excellence Awards in Singapore. In view of this, the team at Prudential Singapore shares how its EVP pledge to 'Connect, Grow, Succeed' made this win a reality. 

Q Congratulations on the achievement! Could you take us through the highs and lows of your people strategy?

Our purpose is to help people get the most out of life. It guides our People strategy – to be invested in the social capital of our workforce, to help them 'Connect, Grow, and Succeed' with us.

We prioritised recreating a sense of belonging by empowering our people, making moves towards hybrid work arrangements, gender equality, and age-inclusive practices, and total wellbeing support. It was also important to equip our people with future-ready capabilities, building on the cycle of continuous learning. To grow our workforce, we drove alternate pools of talent sourcing, creating regional gig work that allows for cross-country collaboration.

With such a transformative and innovative culture, coping with change can be hard. To ensure we are tackling the appropriate challenges, regular pulse checks with employees help us bring new initiatives like 'PRUAnywhere' to life in response to their feedback.

Q How did the HR team identify and align the business & employee needs, and craft this perfect solution?

Since 2021, the HR division in Prudential Singapore has been organised in accordance with our EVP (employee value proposition) pledge to 'Connect, Grow, Succeed'. The pandemic presented us an opportunity to further embed our pledge to our People, and through this new structure, we worked as a division to achieve maximum business impact throughout the organisation.

This division structure also enabled the collaboration with teams from various functions to establish “high-touch” points with our people, maintaining regular engagement that would otherwise not be possible on our own. The active collaboration with teams across different spaces has allowed us to deliver on our pledge through initiatives such as:

  • PRUAnywhere, our flagship work-from-anywhere initiative, which allows our people to get the most out of their day-to-day;
  • Monthly recreational events for employees to enable their total wellbeing, and
  • 'Business@Pulse', a solution that enables employees to view group policy details and make hassle-free claims.

Q Could you share the results that your strategy has delivered – be it on the business, HR, or people side?

In 2022, we have seen our employees benefit from our work-from-anywhere initiative, PRUAnywhere.

Feedback has shown that they feel supported in four key areas:

  • increased productivity,
  • responsiveness to the business,
  • working innovatively, and
  • work-life integration.

In our most recent 'Culture Connect Survey', 83% of employees responded that they genuinely feel supported to make use of flexible working arrangements.

Our monthly recreational events, co-created between HR, Brand Experience, and our Management Associates, are centred around enabling the total wellbeing of our people. As COVID-19 restrictions have gradually lifted over the past year, we’ve adapted to the return to physical events, ensuring our people get ample opportunities to engage with each other through activities like games night, dragon-boating, sneaker art jamming, and more.

Business@Pulse remains a hassle-free mobile solution for our employees to view details related to our group insurance policy and make claims directly on the Pulse app.

Q What is your message to all the stakeholders who have supported you in this journey?

Making Prudential Singapore a great place to work and a choice employer is a feat only achievable through active collaboration with stakeholders across the business. It’s with this belief that we consider the possibilities of what the organisation can be when we show up as our best selves for each other - that by trying, failing, and learning together, what is good can become great, and what is great can become exceptional.

We thank all our stakeholders for their commitment to our people and for believing in the power of collaboration.

We appreciate that it’s been challenging to navigate a plethora of changes over the past couple of years and pledge to continue this journey of transformation, finding ways to help our people get the most out of life.

Q What are you most excited about when you think about the future of HR?

For us, our vision for the future is to create an organisation that is driven by sustainable performance. To do that, we will continue to develop and evolve what has been done.

Our key areas of focus will continue to be:

  • Transforming managers to be future-ready;
  • Building a sustainable talent pipeline;
  • Driving employee wellbeing;
  • Embedding diversity, inclusion, and belonging, and
  • Revolutionising the people experience.

We remain committed to helping our employees get the most out of life at every stage in their journey with us and strive to make Prudential an employer of choice and a great place to work.

Image / Provided (Featuring the Prudential Singapore team)

Read more interviews on why organisations have won trophies for their HR practices - head over to our Winning Secrets section!

Follow us on Telegram and on Instagram @humanresourcesonline for all the latest HR and manpower news from around the region!  

Follow us on Telegram and on Instagram @humanresourcesonline for all the latest HR and manpower news from around the region!

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