Britam holdings has rolled out a voluntary early retirement plan targeting its salaried employees in Kenya.
The Nairobi Securities Exchange listed company announced its Voluntary Early Retirement program (VER), citing organizational efficiencies.
The VER is part of the strategic journey that Britam embarked on in 2011 that has seen the firm rollout new technologies aimed at enhancing customer relations and engagement in line with the strategic plan.
“The VER is part of our business realignment process that places our customers at the very heart of our business and focuses on building and growing market leadership through greater efficiencies driven by innovation and technological advancement,” said Dr. Benson Wairegi, Britam Group MD.
With over 50 years of operation, Mr Wairegi said that Britam has an obligation to remain agile, relevant and responsive to the changing market conditions as expected of any dynamic business by its shareholders, customers, partners, employees and the general public.
Britam’s strategic plan 2016-2020 was to lay the foundation for growth and diversification. It plans to leverage on technological efficiencies to meet changing customer needs.
The MD also noted that Britam has continued to grow in line with its strategic plan, firmly anchored on its continued diversification within the financial services sector.
“While our business remains fundamentally sound with strong growth prospects, the VER program offers all our Kenyan employees a voluntary opportunity for employment separation with an attractive benefits package. The VER program does not impact our financial advisors”, Wairegi said.
According to a statement from the firm, under the VER program, eligible employees will receive an attractive package which is well above the industry average.
The group has interests across the Eastern and Southern Africa region, with operations in Kenya, Uganda, Tanzania, Rwanda, South Sudan, Mozambique and Malawi. The group offers a wide range of financial products and services in Insurance, Asset management, Banking and Property.