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| Home | Executive Statements | Transformation | Governance | Economic Impact | Social Impact | Environmental Impact |
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Developing Scarce SkillsIn common with the entire financial services industry, Old Mutual faces a shortage of skills in the marketplace that are vital to ensuring the growth of the company, and of the country. In particular, there is a shortage of new talent in the fields of accounting and actuarial science. Old Mutual has long been active in addressing this issue. Our activities have included sponsoring organisations such as the Association of Black Accountants of South Africa, who are active in their promotion of the profession among black schools and tertiary institutions, or by directly sponsoring the studies of students. The following table illustrates our direct investments over the last two years.
The Training Outside Private Practice (TOPP) programme is another initiative introduced to face the challenge of growing the number of black accountants in the industry. Old Mutual has accreditation from the South African Institute of Chartered Accountants (SAICA) and now offers commercial articles to aspiring accountants wishing to qualify as Chartered Accountants. TOPP is a three-year full-time training contract that consists of both technical and soft skills development. Coupled with six core modules prescribed by SAICA are courses in leadership and management. The competencies required are achieved through on-the-job-training in various business units. The table below captures the key measures of our workplace transformation:
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