Employees
Cadiz strives to be recognised as an employer of choice in the financial services sector. The group endeavours to attract, develop and retain highly-energised individuals who will contribute to the sustainability of the business. It was most pleasing to be rated as the leading financial services company in the annual Best Company to Work For survey which is based on responses from employees.
The group favours the appointment, empowerment and advancement of previously disadvantaged individuals in order to achieve a more representative employee profile. The challenge remains for Cadiz to accelerate employment equity at senior management and executive levels.
Employee turnover analysis
| Employee turnover analysis | ||
| 2009 | 2007/08* | |
| Employee complement at the start of the | 148 | 129 |
| period | ||
| Add | ||
| Recruitments | 30 | 48 |
| Less | ||
| Resignations | 20 | 28 |
| Retrenchments | - | 1 |
| Employee complement at period end | 158 | 148 |
| Employee turnover (%) | 12.5 | 16.8 |
| These figures exclude contract employees and graduate trainees |
Employee profile
| GENDER AND RACE | Black | White | Male | Female |
| Management | 48 | 82 | 81 | 49 |
| Non-management | 27 | 1 | 8 | 20 |
| Total | 75 | 83 | 89 | 69 |
| % | 47.4 | 52.6 | 56.3 | 43.7 |
| AGE | ||||
| < 30 | 36 | 22.8% | ||
| 30-39 | 61 | 38.6% | ||
| 40-49 | 45 | 28.5% | ||
| 50 + | 16 | 10.1% | ||
| LENGTH OF SERVICE | ||||
| 0-5 yrs | 109 | 69.0% | ||
| 6-10 yrs | 44 | 27.9% | ||
| 11-15 yrs | 5 | 3.1% |
Skills development and talent management
Cadiz is committed to developing employees to reach their maximum potential, ensuring that previously disadvantaged employees are granted growth and development opportunities.
Graduate training programme
The Cadiz graduate training programme is focused on young black graduates and provides the opportunity for these graduates to undergo a professional development and mentorship programme. The graduates are exposed to all aspects of Cadiz’s business and are assigned a personal mentor. They are also required to study towards the CFA qualification.
Adult education
An adult based education and training programme was launched to assist previously disadvantaged employees who have not completed formal schooling. The programme focuses on literacy and numeracy skills to enable these adults to further their education and training.
Executive development
As part of the group’s succession management and executive development, key black employees have been co-opted onto the executive decision forum for a one year period. Two black executives participated in the programme in the 2009 financial year.
Employee wellness
Cadiz provides a range of services to address the health and well-being of employees. These include contracting the services of a registered nursing sister to provide primary health care services, including confidential HIV counseling; retaining a corporate psychologist to address the emotional needs and well-being of employees and ensuring that senior executives undergo an annual medical examination. Social events are organised and funded by the company to encourage integration and a healthy lifestyle. A health and wellness day enabled employees to participate in general health assessments and activities, while specific programmes on diet and lifestyle were provided to office management employees.
HIV/AIDS management
The group remains committed to addressing HIV/AIDS in a supportive and non-discriminatory manner and has a policy to deal with the disease in the workplace.
HIV education and voluntary counseling and testing is made available to employees on an ongoing basis, with the programme addressing common and emerging myths relating to the pandemic.
Cadiz is exposed to the HIV/AIDS risk through the membership base of retirement funds managed on behalf of clients. While no formal assessment has been undertaken on the impact of the disease on the group’s business, prevalence rates among fund members are assumed to be in line with the published national and provincial statistics.