Horace Mann's mission of helping educators achieve lifelong financial success resonates strongly with the company's roughly 1,500 employees. Almost 90% of employees and agents said serving educators is an important reason why they work at Horace Mann, according to a 2019 survey. In interactions with customers, each other and all stakeholders, we aim to reflect the core values at the heart of who we are: compassionate, trustworthy, straightforward, approachable, respectful, and knowledgeable. We believe that an engaged employee base is critical to deliver on our commitment to educators and achieve our business objectives.
Attracting and Retaining Talent
We strive to have policies and practices in place to attract top talent, maintain high levels of employee engagement and increase retention. We solicit employee feedback through pulse surveys, and in 2021 implemented a robust “stay interview” process to identify strengths and opportunities in our corporate processes and procedures. We regularly review highly skilled and hard-to-fill positions to ensure market competitiveness.
We support and reward our employees through:
- Competitive compensation and benefits: In addition to competitive base salaries, every Horace Mann employee is eligible for an annual bonus program based on company performance and annual merit increases based on individual performance. Horace Mann contributes to employee retirement and health savings plans. We contribute 3% of every employee’s eligible earnings to their 401(k), regardless of their contribution status. We then match up to an additional 5% of each employee’s eligible earnings annually. In addition to providing major medical coverage, group life and disability insurance, dental and vision insurance, we contribute up to $1,000 to employee health savings accounts annually. We offer new employees four weeks’ paid time off annually, which increases with years of service, as well as recognize nine holidays annually.
- Flexible work environment and employee wellness: In 2021, we introduced a hybrid workforce model, in which more than 70% of our employees can work remotely as part of their regular weekly schedule. Employees at our Springfield headquarters can access free or reduced-cost preventive, diagnostic and medical care through our partnership with nearby HSHS St. John’s Hospital LeadWell health and wellness clinic. We also partner with a local yoga studio to offer weekly virtual classes.
- Investment in professional development: As a company dedicated to serving educators, Horace Mann naturally supports continuous learning as a critical component of professional development and supporting an evolving workplace environment. For example, in 2021 we developed a training course for managers on how to lead in a hybrid work environment, bringing cross-departmental groups together to discuss best practices for hybrid teambuilding, communication and collaboration. In addition, we support employees in attaining industry and professional designations and offer a comprehensive online library of career development and skills training courses. We offer a full range of instructor-led courses on leadership, business skills and process improvement.
Diversity, Equity and Inclusion
We have long strived to foster an inclusive culture in which individual differences are recognized, respected and appreciated. In 2021, we took steps to advance our Diversity, Equity and Inclusion recruitment, training and retention strategy by establishing relationships with more than 20 Historically Black Colleges and Universities to source job candidates. We also implemented a new selection process for our key Emerging Leaders training program, which resulted in a nearly 20% increase in representation for people of color. In 2021, 29% of managers completed unconscious bias training.
These actions build on our work over the past few years with our employee DEI Council to help guide our initiatives and identify areas for improvement. In 2021, Council members led activities and discussions about historically underrepresented groups and allyship with fellow employees. These efforts include an employee resource library, book studies and a speaker series. We observed important cultural events such as Juneteenth, which will be a company holiday beginning in 2022.
For the past four years, Horace Mann has been named to the Bloomberg Gender-Equality Index, which recognizes corporate commitment to transparency in gender data reporting and advancing women’s equality.
Data as of Dec. 31, 2021; gender data aligned to definitions of Bloomberg Gender-Equality Index.
Supporting causes important to employees
Due to the mission-centricity of our organization, we find that many of our employees are active in their communities and committed to charitable causes. To support employees and the causes important to them, the Horace Mann Educators Foundation instituted a matching grant program in 2021. The Foundation matches employee donations up to $100 to qualified nonprofits annually. In its first year, employees were responsible for more than $50,000 in contributions to local non-profits.