At Arch, our people are at the center of everything we do. From building relationships with clients to providing the expertise that allows us to create innovative solutions, our people are the means by which we enable possibility.
Accelerating Diversity and Inclusion (D&I)
Arch focuses on developing market-leading solutions that allow us to attract, develop, promote, reward and retain the best talent. Our mission is to create a workforce that reflects the diverse populations of our customers and the communities where our people live and work. In 2022, we made strides toward achieving our long-term D&I vision, and we have expanded our internal programs and practices to enrich the employee experience of inclusion and belonging.
- As we continue to focus on initiatives that create change, we share, for the first time, demographic data for our global operations. See page 20 of the Sustainability Report.
- More than 23% of our global employees participate in one or more of our six employee networks (ENs), which are employee-led groups that help build relationships, amplify the voices of diverse populations and advocate for positive change within our company. The groups host educational and networking events, professional development opportunities, focus groups, volunteer outreaches and other events that cultivate inclusion and encourage all voices and perspectives. The strong and visible ally participation in all of our ENs is a testament to their success.
- More than 600 leaders have completed an advanced Fostering Inclusive Leadership course that equips participants with practical ways to model inclusivity in their day-to-day interactions to maximize the contributions of all employees.
- We launched a global mentorship program to provide a forum where employees can learn and grow professionally via relationships with other colleagues.
- A total of 855 employees have completed a course on creating a culture of workplace inclusion, designed to explore the impact of in-group and out-group dynamics, understand the benefits of inclusion, and learn powerful shifts that bridge groups to foster a greater sense of belonging.
Attracting, developing, promoting, rewarding and retaining top talent is a company-wide priority. Through meaningful investments in career development, diverse recruitment practices and providing tools to help our employees to succeed, we foster a workplace where everyone can thrive.
- Our internship programs provide highly motivated students with meaningful work experience and exposure to industry career opportunities. In the U.S., U.K. and Bermuda, we hosted more than 70 interns in various functions throughout our operations in 2022.
- In 2022, we introduced Arch’s Senior Leadership Team to our six Executive Accelerators, behaviors that drive success for our business and our people. Approximately 140 executives took an assessment that provided insight into areas of strength and weakness to help them become more effective leaders.
Employee Health and Well-being
We are committed to ensuring that our people have access to comprehensive benefits to safeguard their mental, physical and financial health. We took several actions in 2022 to expand our benefit coverages to be more inclusive and to meet our employees’ needs.
- We enhanced our medical coverage for our U.S.-based employees to include travel and lodging costs to obtain mental health services, infertility treatments, specialty cancer treatments, abortion services and gender-affirming services.
- To ease the impact on those most affected by inflation, in 2022 we announced that effective in 2023, Arch will have a new, salary-based premium structure for medical plans for U.S.-based employees to help keep health care costs equitable and affordable. It is anticipated that more than 65% of employees will see a reduction in medical premiums for the same plan and coverage tier.
- We contributed $67 million to worldwide retirement saving plans on behalf of eligible employees.
- Arch recognizes the impact of the current economy on our employees. To help ease the financial pressure, in addition to looking at the external compensation market, we are reevaluating our merit increase guidelines to take into account geography and job level in the organization to allow for greater salary increases for employees most impacted by inflationary pressures.