Looking for a workplace where transparency is not a fleeting notion but a daily practice is hard to find in today’s job market. As job seekers scroll through different job boards, they are faced with several job descriptions and conflicting information that makes it challenging to discern the true essence of a company’s culture and work environment.
Trust can be one of the cornerstones of a healthy workplace, inspiring collaboration, teamwork, and a sense of belongingness that fuels employee satisfaction. PricewaterhouseCoopers’ (PwC) Trust Survey 2024 indicates most business executives agree that building and maintaining trust with customers, employees, and investors improves the bottom line.
However, the same survey suggests that there is a trust gap between employees and their employers. While 86% of business executives think employee trust is high, only 67% of employees say they highly trust their employer.
Several factors can be attributed to these companies’ optimistic trust levels with their employees, but it is clear that it is difficult to fully capture the current sentiment across stakeholder groups such as employees, customers, and investors.
One of the few companies that showcase high levels of trust for both employees and employers is insurance company Cocolife. As a recipient of HR Asia’s Best Companies to Work for in Asia 2022 and 2023, Cocolife’s perception of trust is not just a badge of honor but a testament to its unwavering commitment to fostering a culture of transparency, empowerment, and mutual respect.
“For Cocolife, trust is the foundation of a good and healthy relationship, and this holds true regardless of what type of relationship you have, whether romantic, professional, familial, etc. To be trusted then means to be successful in cultivating positive and healthy relationships,” Atty. Michael Guevarra, Cocolife’s senior vice-president of human resources and admin services, said in an interview.
The company builds this relationship and trust through communication, feedback, and employee engagement. By actively involving employees in decision-making processes and valuing their input, Cocolife cultivates a sense of ownership and accountability that fuels its success as a trusted employer.
“A relationship built on trust can only be achieved through proper communication. This is why Cocolife ensures that a yearly engagement survey is conducted to evaluate employee engagement, receive employee feedback, and identify key areas for improvement. The Company then centers its employee engagement strategy based on the results of the survey,” Atty. Guevarra stated.
This strategy has allowed Cocolife to build cohesiveness among its employees and create a collaborative and supportive work environment. As a result, Cocolife employees feel valued and heard, which strengthens the overall organizational culture.
“By responding to, or at least acknowledging the employee concerns raised, Cocolife builds a healthy relationship with its employees,” Atty. Guevarra added.
He also shared some initiatives the company has implemented during the pandemic to cultivate a culture of trust among employees. These programs have carried over to the post-pandemic normal and are part of their ongoing strategy to maintain employee engagement and satisfaction.
“The global pandemic truly had a profound impact on all of us. In response to economic hardships, a number of employees have started their respective small businesses… A big impact of the pandemic was also the fostering of new relationships by creating opportunities to interact within the company,” Atty. Guevarra explained.
With COVID-19 and technological advancements, he also discussed examples of how they have adapted their approach to building trust in response to changing work environments, such as remote work or hybrid models.
“One upside of the pandemic is that it changed our perspective of how to accomplish work. Remote work and hybrid work arrangements have shown that work can also be accomplished outside the four walls of the office,” Atty. Guevarra said.
Along with this evolution, Cocolife has opened an avenue that prioritizes employee health and well-being during trying times without sacrificing productivity.
“This shift also allowed us to change how we respond to employee concerns. For example, the unprecedented heat wave recently experienced by the Philippines was considered a health concern,” Atty. Guevarra explained.
Relevant events empowering individuals are also commemorated to further boost employee morale and motivate healthy competition. For instance, in celebration of Women’s Month last month, Cocolife hosted a bazaar featuring products made by their female employees to celebrate and support them.
Aside from several awards hailing Cocolife as one of the best insurance companies in the Philippines, its commitment to creating a healthy workplace and fostering a culture of trust among its employees has also garnered it accolades and awards including the above-mentioned HR Asia’s Best Companies to Work For for two consecutive years.
“It is truly an honor to receive such recognition. As a company that strives to attract top talent, these recognitions serve as a testament to the public that Cocolife is committed to cultivating a healthy and positive work environment. Such commitment, in turn, attracts job seekers with the same values,” Atty. Guevarra stated.
Being a trusted employer combined with an invigorated workforce has led Cocolife to deliver exceptional service, innovative insurance solutions, and sustained growth, reinforcing the company’s position as a leader in the insurance industry.
“In Cocolife, we are people-focused — both with how we service our customers and value our employees. We make it a point to provide the best possible servicing in the industry. From the time a customer purchases any of our products up to the time a claim has to be paid, we make it as convenient and efficient for them. Of course, they put their trust in us so it is our mission to repay them for that trust,” said Atty. Jose Martin A. Loon, president and chief executive officer of Cocolife.
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Cocolife: A workplace grounded on and connected by trust
Philippines Pandemic
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