Intrum has set up its own Occupational Insurance Fund

Strengthening the relationship with employees and an important tool for attracting and retaining capable executives is the establishment of a Professional Fund by companies, said Maria Fatzikmanoli, Assistant General Manager, Head of Human Resources of Intrum Greece. Intrum Group, at the 3rd Occupational Insurance Conference organized by the Hellenic Association of Occupational Insurance Funds.

Intrum Greece is the first company from the growing branch of management companies to establish an Occupational Insurance Fund (TEA) for its employees. As Mrs. Fatzikmanoli explained, the decision to establish the Fund was easy as, on the one hand, due to the international experience of the Group, the advantages of the institution were known and on the other hand, the institution is fully intertwined with its strategic priorities. Intrum.

The company places great emphasis on building a long-term relationship of trust at all levels and much more with its employees, and investing in a TEA is one of the strongest practical proofs of an employer’s long-term commitment that respects and values ​​its employees, he noted. , adding that Intrum’s priority is to be the employer of choice for the people it employs, offering an overall positive employee experience with an attractive benefits package, beyond the ordinary.

Ms. Fatzikmanoli referred to the advantages of the institution for a company, as the TEA through the incentives it provides, is an important tool for attracting and retaining capable executives, but even for the repatriation of executives. “From our experience, and given that the institution of TEA is quite developed in other countries, the very existence and the possibility of transfer of rights between TEAs at an international level makes the decision of an executive who wants to return to the country easier now. “, he pointed out, emphasizing that an important benefit is the sense of job security and balance that a TEA gives due to the long-term horizon it has by definition but also the fact that it operates and is managed with the active participation of employees.

Especially for Intrum which as a new company, in an industry that has just started to grow, the benefits are even more since there is an additional incentive to attract the best executives in the market and in addition, because it confirms the growth dynamics of the industry, removing any concerns to employees.

As stated by the head of HR of Intrum Greece, the reception by the employees of the company is very positive since about 95% of the beneficiaries are already members, with the majority of them actively participating through regular and / or extraordinary contributions, only in the first year operation of the Fund.

Referring to the challenges presented for the successful operation of the Fund, she pointed out that there is a limited familiarity with the institution of supplementary insurance and its value, especially at younger ages) as well as cautiousness regarding the management and fate of the employee’s money .

Based on her experience in the implementation of the institution in Intrum Greece, Ms. Fatzikmanoli underlined that these challenges are faced with transparency: first, in terms of informing stakeholders – in Intrum there was a thorough, systematic and detailed information for all beneficiaries – and second, transparency regarding the governance and operation of the TEA, including the involvement of employees in the management of the TEA, the existence of independent committees and administrators, internal control and clear policies and procedures in place.

In the Professional Fund of Intrum Greece, participate in the board of directors, two representatives of the employees, the chairman is the CEO of the company and members are executives of the management. The BoD It meets regularly and actively and with absolute transparency monitors the progress of the portfolio and the procedures followed, of course, based on the institutional framework and the statute of the TEA, he said.

“A third factor is the transparent, continuous and immediate information of the members so that each member feels safe that he has access and control at all times to his personal account and knows exactly the amount he has collected, the right he has established, but also The fully automated platform implemented by our external partner, which allows you to be immediately informed about all the information you need, has helped us a lot here. “Our employees have gradually become acquainted and are participating more and more actively, saving in the TEA”, he said characteristically.

Answering the question what are the success factors of an Occupational Insurance Fund, the head of HR of Intrum Greece stressed that the primary factor for having an active Fund that contributes to economic growth through the funds it raises and the consequent investments, and not only on paper, is to have a wide and competent participation of employees.

In order for this to happen, according to Ms. Fatzikmanoli,

1) To motivate: The tax benefits should be maintained and the employer companies should also contribute to the capitalization. Also, setting options for members regarding the investment profile can enhance the motivation to different risk-taking profiles among members.

2) To inspire confidence in the sound management of the funds it raises. Emphasis should be placed on adequate governance, operation and oversight

3) To promote transparency and immediacy in the information so that each member can have direct access to the capital he has accumulated and to change the terms of his participation immediately according to his needs.

4) To be understood: The TEAs, the employers’ companies but also the competent institutions should intensify the investment in this aspect of the financial literacy of the members or potential members in order to develop the trust and participation in the institution.