We are also passionate about people—the people in our communities, the people who work with us either as employees or agents and our customers.
Passion for Our Employees
Our recruitment, screening and interview techniques have been refined in order to attract the best talent available. Over the last few years, we have revamped our applicant testing methods to identify candidates who are well suited for our company. We enhanced our benefit programs by offering vision and expanded dental coverage in 2005. Employee wellness also became a top priority with the introduction of on-site health screenings, flu shots and health-related seminars.
Employees seem to be responding positively to these and other changes. In 2005, employee turnover fell over 25%.
We understand that a motivated, well trained, workforce can be extremely valuable to customers and agents as well as crucial to our bottom-line results. Premium growth and improving profitability over the last three years certainly lends credence to this premise. And in recognition of their invaluable contribution to the business and its profitability, employees received bonuses and a profit-sharing match to their 401K accounts of over $9.5 million, representing 9% of their base salaries.
Infinity University is yet another example of our deep commitment to our employees. The University was designed to support the growth of Infinity by providing quality education and training products that promote their career development. Through the College of Employee Development and College of Management, we offer more than 40 classroom and self-study courses including Marketing to Agencies, Claims Training, Time Management and Management Training.
We are dedicated to providing opportunities to an ethnically diverse workforce. In fact, we are very proud of the fact that over 35% of our workforce are members of ethnic minorities. Not only is this the right thing to do, it is good business, as employees with a variety of backgrounds and life experiences more effectively relate to the customers and agents we serve.
We are also dedicated to creating a family-friendly work environment here at Infinity. Expanded benefits and, where possible, flexible working hours certainly advance our efforts. And we have received recognition for our actions, as in 2005, Infinity was recognized as one of the “Best Companies for Working Families” by Birmingham Parent magazine.