We create a culture where our Associates have a sustainable quality of life and stakeholders feel welcomed and valued.
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Overview
2022 was the year of building a solid foundation for our People First pillar, laying the groundwork for significant impact on our Associates. While planning in the short term, we’ve also set long term priorities in alignment with strategies across Krause Group. Much was done to highlight key areas of opportunity within each business as we created the 2030 CSR Vision documents. This effort highlighted the special nature of our brands and the unique opportunities within each business to meet the needs of our Associates. 2022 provided an opportunity to live out our Total Rewards philosophy of “Being there when life happens” as COVID-19 restrictions were lifted, and daily life returned to a more pre-pandemic feel.
Turnover U.S Associates
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Diversity, Equity, and Inclusion
People are the core of everything we do and everyone we serve. We know that not all people have the same experiences, and we can adjust our practices, services, and experiences to promote inclusion.
We continue our Diversity, Equity, and Inclusion journey building trust through setting expectations and engaging in civil dialogue. Each DEI and Talent Development education session starts with a level-setting conversation to drive internal change for Associates to feel respected, heard, and valued while also helping us understand that not everyone has felt or been included up to this point. This work is creating the awareness needed to cultivate a DEI lens across disciplines and ultimately enables all to actively and intentionally advance equity and inclusion together.
In 2022, partnerships with Iowa’s Healthiest State Initiative, One Iowa, and Easterseals allowed us to co-create 90-second training videos leveraged to build on our awareness and gain perspectives on mental health, LGBTQ+, and different ability life experiences. These partnerships and our growth have led to many updates in our handbook policies including store and corporate dress code, providing flexibility in how we work, and enhancing our benefits programs.
While we are still on our DEI journey as an organization, we are proud of how our culture is evolving and moving toward equity and inclusion. In 2022, our Inclusion Index, measured by our annual Associate Voice Survey, remained consistent at an 82% favorability rating.
In addition, we also measure progress in our efforts around Diversity, Equity & Inclusion in our leadership:
Inclusion Index
Underrepresented Racial and Ethnic Groups, U.S Associates in Leadership
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Associate Wellbeing
In 2022, we continued to “Be there when life happens” for our Associates through continued investments in our benefits and wellbeing programs. We maintained our focus on Associate mental wellbeing with the implementation of a new Associate Assistant Program (AAP), a free resource, which provides meaningful support for our Associates’ mental and emotional wellbeing. This resource also includes a critical response service which allows us to be there for our Associates in times of heightened need with on-site support within 24-48 hours.
As the year began, Associates working in the Krause Gateway Center came back to the office with a new flexible work policy – enabling our Associates to balance their time between work and home to support their personal lives. We made positive progress in 2022 and have laid the groundwork which will allow us to continue investing in our Associates’ wellbeing and evolving programming.
Below are key metrics used to measure Associate engagement and wellbeing:
Overall Engagement Score
Associate Benefits Meet My Needs
Total U.S Associates Eligible for Medical Insurance
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Financial Wellness
We provide a Total Rewards package that supports the financial wellness of our Associates through both compensation and financial education. We are committed to compensation that leads most of the industries we operate in. This allows our Associates to realize their financial goals and improve their lives by allowing them to reduce debt, increase savings, and ultimately promote a more secure financial future. Most Associates within our domestic businesses qualified for annual incentives which achieved or exceeded targets in 2022, providing additional financial benefit.