Identifying and understanding the world’s emerging and evolving risks and their impact to society and our customers is at the center of all that we do.
Collaboration with Work Shield is also expected to help customers with employee retention.
SCHAUMBURG, Ill., July 14, 2022 – Zurich Resilience Solutions (ZRS) in North America is now offering customers a solution that can help them combat toxic work cultures and improve employee retention.
Collaborating with Work Shield, a misconduct solution that helps employees be heard, protects cultures and mitigates corporate risk, the Workplace Diversity, Equity and Inclusion Services of ZRS provides an employer intelligence platform that helps companies to effectively manage and resolve workplace misconduct through an easy-to-use technology.
The new Work Shield platform includes:
- A safe, secure reporting tool: An easy, accessible way for individuals to confidentially report concerns directly to Work Shield via mobile, desktop or human-centric call center (no chatbots or automated voice recordings).
- Impartial investigations: Work Shield’s nationwide team of trained professionals investigate every incident thoroughly, efficiently and objectively.
- Quick resolutions: Unbiased resolution recommendations can be determined based on the investigation findings in an average of five days or less.
- Culture data and analytics: Real-time culture data and analytics provide trends, patterns and cultural insights based on specific and industrywide aspects.
ZRS is committed to helping organizations address environmental, social and governance (ESG) initiatives, including the social aspect and human capital considerations. Employee turnover is a key concern in today’s world with companies struggling to attract and retain workers.
Research from the Massachusetts Institute of Technology demonstrates that the greatest predictor of industry-adjusted attrition is a toxic culture. In fact, a toxic work culture is ten times more likely to impact turnover than compensation.1 Researchers reported that toxic cultures were those workplaces where there was a lack of commitment to diversity, equity and inclusion (DEI), workers felt disrespected, and there was unethical behavior.
“Recoveries in Title VII-based lawsuits are at all-time highs, and shareholder derivative lawsuits based on ESG and diversity and inclusion are growing,” said Julia Oltmanns, Director of Workplace DEI Services for Zurich Resilience Solutions in North America. “Corporations need solutions and guidance when it comes to assessing and enhancing their DEI practices and policies while also ensuring toxicity is removed from their culture and risks are mitigated earlier, not after a claim has been raised”.
When an organization implements the Work Shield platform, it can immediately and substantially improve its own governance criteria as it relates to ESG considerations by mitigating corporate risk, ensuring it meets Equal Employment Opportunity Commission standards with regard to investigations (i.e., external, third-party investigations), and meet its obligations with regard to workplace misconduct. The Work Shield service represents a measurable step toward fulfilling certain governance metrics tied to management controls and oversight. Work Shield’s ability to provide real-time and long-term data on these metrics can help organizations meet and exceed forthcoming ESG requirements.
“Zurich is an industry leader, and we are pleased to collaborate on the DEI Service of ZRS to help businesses meaningfully impact their workplace cultures and ESG initiatives, while also mitigating risk,” said Jared Pope, CEO of Work Shield. “With more than 100,000 lives covered on our platform, our data is evidence that organizations who address toxicity head-on will see greater culture improvement, effectively mitigate their risk, protect their reputational value and have happier employees.”
Earlier this year, ZRS announced the launch of an offering called the Workplace Diversity, Equity and Inclusion (DEI) Service in collaboration with Inclusion Score, an organization that advised on a new global diversity and inclusion standard issued by the International Organization for Standardization.
Zurich North America is one of the largest providers of insurance solutions and services to businesses and individuals. Our customers represent industries ranging from agriculture to technology. Zurich North America is part of Zurich Insurance Group (Zurich), a leading multi-line insurer serving more than 55 million customers – both people and businesses – in more than 210 countries and territories. Founded 150 years ago, Zurich is transforming insurance. In addition to providing insurance protection, Zurich is increasingly offering prevention services such as those that promote wellbeing and enhance climate resilience. Reflecting its purpose "to create a brighter future together," Zurich aspires to be one of the most responsible and impactful businesses in the world. It is targeting net-zero emissions by 2050 and is one of the world's most sustainable insurers, as shown by the S&P Global Corporate Sustainability Assessment. In 2020, Zurich launched the Zurich Forest project to support reforestation and biodiversity restoration in Brazil. The Group has about 56,000 employees and is headquartered in Zurich, Switzerland. Zurich Insurance Group Ltd (ZURN) is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt (ZURVY) program, which is traded over-the-counter on OTCQX. Further information is available at www.zurich.com.
For further information: David Hilgen, Zurich North America, (908) 303-4002, email@example.com.
About Work Shield
Founded in 2018, Work Shield’s Employer Intelligence Platform partners with organizations to efficiently manage reporting, investigation and resolution of workplace misconduct, toxicity, harassment, and discrimination issues in their entirety. For the first time, employees have access to an immediate, impartial, confidential, and secure platform to safely voice workplace misconduct incidents, while employers are ensured peace of mind that every issue is investigated and resolved with care by Work Shield-certified legal professionals. Implementing the Work Shield solution fosters a more positive and open workplace culture comprised of integrity and trust. To learn more, visit https://workshield.com.
1. MIT Management Review article