Sustainability Report 2021 02.4 Human resources 01 Introduction Performance management Our approach promotes a continuous 1 02.4.3 Engaging our employees and transparent feedback performance and feedback culture that enables € 102.9 mn To deliver our purpose, drive long-term 02 Measuring and Performance management and transparent teams to exchange feedback on a regular invested in employee development managing sustainability feedback ensure progression for our employees basis. Feedback is most useful when it’s open, (2020: € 63.1 mn) business success and become a truly Sustainability in our business activities and Allianz as an organization. Our goal is to honest, constructive and forward-looking to help customer-centric organization, we must 02.1 Sustainability in insurance align individual priorities with Allianz’ strategic employees discover their potential. Three key 2 attract, retain and engage with talented 02.2 Sustainability in objectives and set the ideal framework for milestones for performance management 103 % candidates and employees around proprietary investments engagement and achievement at work. This way throughout the year cement this culture: 02.3 Sustainability in asset management our employees are in charge of their goals at any initial priority setting, mid-year check-in and employees took part in at least the world. Sustainability in our organization time and are able to pursue their personal best year-end review. We use Multi Rater as a tool to one targeted training session As candidates’ needs and values have changed, 02.4 Human resources with a clear vision in mind. gather multi-dimensional feedback at executive (2020: 79 percent) we have re-positioned Allianz’s employer brand. 02.5 Customer satisfaction levels to gain valuable insights into perceived We involved more than 80,000 employees and 02.6 Environmental management Recognizing that both people and performance strengths and development needs. In June 2021, 1 1,200 external candidates in co-creating and matter, we invest time and resources in developing 7,355 employees from 48 operating entities were € 716 re-shaping our global employer value proposition 03 Strengthening high performance at all levels. Our global rated and key performance and development investment per employee (EVP), resulting in the tag line ‘We care for our foundation performance management approach focuses actions based on the results were discussed at the in development and training tomorrow’ The new EVP addresses important on two key areas: ’What’ (outcome-oriented mid-year check-ins. In 2021, we piloted a flexible, (2020: € 442) job choice drivers such as career development, 04 Climate-related performance) and ‘How’ (behavior). It covers collaborative and continuous performance tool sustainability, employee well-being and D&I to financial disclosure nearly 60,000 employees with the goal of covering called Continuous Performance Management engage employees and encourage candidates to all Allianz’s employees worldwide by the end (CPM). The tool was successfully piloted by 34.7 join Allianz. 05 Our universal principles of 2022. the AZ SE Singapore Branch where it led to average hours of training simpler tracking of activities and more effective per employee The EVP was launched in March 2021 and rolled performance and talent check-ins. More pilots (2020: 20.7) out in all operating entities and on all offline/ will follow in 2022. online channels by Dec 2021. According to our 3 research, 73 percent of Allianz employees say 36,963 they would recommend Allianz as an employer to their family/friends and 73 percent of external LinkedIn Learning users logged in potential candidates would consider joining (2020: 38,613) Allianz because of the new EVP. Within people analytics projects on attrition, 199,932 we study reasons for leaving to develop target group oriented measures, improve the candidate viewed learning hours on journey (incl. onboarding activities) and increase LinkedIn Learning employee retention. (2020: 191,655) Attracting talent 33,378 1 Increase in training expenses driven by methodological adjustment towards industry practice to include overhead expenses. candidates recruited by Allianz in 2021 2 The percentage of employees with at least one training can be higher than 100 percent due to the reporting period calculation methodology incl. employee in- and outflows. (2020: 19,564) 3 A decrease in LinkedIn learning usage can be attributed to the increased engagement on AllianzU’s social learning platform, Degreed. 45