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“Our commitment is to foster happy, healthy workplaces, enhance productivity, and ultimately reduce health-related expenses,” says Lockton’s Senior Vice President, Head of People Solutions - North Asia, Stella Sung.
This article is brought to you by Lockton Companies
Lockton is the world’s largest privately owned insurance brokerage and consulting groups, currently serves over 65,000 clients globally, including more than 21,500 in Asia. With the global footprint of over 140 countries, the team delivers customised solutions for risk consulting, insurance broking services, and employee benefits solutions to a wide range of businesses.
Committed to building genuine connections and long-term partnerships with clients, Lockton prioritises gaining a thorough understanding of clients’ businesses and objectives to offer innovative and best-fit solutions for clients. Combining analytics, consultancy, and broking expertise, the company assists clients in integrating business objectives to develop a balanced, data-driven, and uniquely tailored employee engagement strategy, specialising in employee benefits, corporate wellbeing, retirement planning, and flexible benefits – all within a comprehensive total rewards framework.
Putting wellbeing and flexibility at the heart of employee strategy
This is exemplified by its flexible employee benefits platform, ‘OneLock’. With a comprehensive suite of benefits, the platform has seamlessly integrated health, wealth, and wellness through cutting-edge technology. This enables clients’ employees to structure their coverage to best suit their life stages, lifestyles, and health needs, not only enhancing workplace culture but also significantly boosting productivity and strengthening the sense of belonging.
To help clients achieve long-term benefits and financial strategies, Lockton identifies areas for improvement in clients’ existing policy structures. The team also benchmarks current benefits and claims utilisation against industry peers using market insights. This involves conducting market surveys to understand trends and customer needs, alongside offering claim analysis and projection tools to evaluate premium and claim developments.
Beyond the employee benefits strategy, the company also embraces a holistic approach to corporate wellbeing that extends beyond physical health to help clients support employees’ mental, financial, and social wellbeing. This includes providing actionable advice from ideation to execution and communication, as well as bespoke corporate wellbeing programmes.
Such a holistic approach aligns personal wellbeing with organisational success, has proven effective in reducing absenteeism, and empowers clients to cultivate a resilient, thriving, and engaged workforce, ultimately driving long-term business growth and employee satisfaction.
Perpetually private
“Being privately held allows us the flexibility to adapt quickly and remain resilient against market fluctuations. At Lockton, we combine global reach and local expertise with a family-business mentality. That means we work with our clients to build a solution that represents their employees. This approach truly sets us apart,” highlights Stella Sung, Senior Vice President, Head of People Solutions - North Asia, Lockton Companies (pictured below).
Client focus
Through ‘People Solutions’ initiative, Lockton paves the way for collaborative innovation, empowering the company to co-create sustainable solutions that elevate their clients’ businesses and enrich their employees’ lives. This comprehensive approach ensures exceptional support and lasting value.
All these cannot be achieved without its people. With one director managing operations in Hong Kong and China, close collaboration between global offices, and senior brokers leading programme design with effective risk and claims management, Lockton has ensured seamless communication and excellent service.
Caring culture
With the belief in empowering people to make a difference in their communities, the company excels in creating an environment of inclusivity, continuous learning, and tailored compensation and benefits programmes, ensuring each employee feels valued. The team also engages in corporate social responsibility
“By tailoring resources to individual needs, we foster an environment where diverse perspectives flourish, thus enhancing our adaptability and creativity,” says Sung.
Lockton’s efforts have paid off through an impressive client retention rate of 96%, and the employee engagement rate standing at 85.8%, while the employee turnover rate is only 7.1%.
When asked about future aspirations, Sung shares that the company will gear up to host its signature event, the ‘Lockton Global Benefits Forum’, and continue collaborating with partners to drive innovative corporate wellbeing programmes to offer top-tier engagement and wellbeing solutions for companies of all sizes.
“Looking forward, we are committed to partnering with our clients to enhance the employee experience and cultivate a positive work environment. Together, we navigate the dynamic landscape of employee benefits, adapting to emerging trends and addressing the unique needs of a diverse workforce,” affirms Sung.
Photos / Lockton Companies
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