Britam announces Voluntary Retirement Programme

By KJ Odongo

In Summary

  • The Voluntary Early Retirement program is as a result of organizational efficiencies
  • The VER program only applies to salaried employees in Kenya and excludes Financial Advisors
  • Britam’s strategic plan 2016-2020 is to lay the foundation for growth and diversification
  • Britam is set to leverage on technological efficiencies to meet changing customer needs

Leading diversified financial services group, listed on the Nairobi Securities Exchange Britam Holdings PLC has announced a Voluntary Early Retirement (VER) program in line with the company’s strategic plan 2016-2020.

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, 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.

Wairegi 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.

Under the VER program, eligible employees will receive an attractive package which is well above the industry average.

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