Mikko Wikstedt has begun his second term as Chairman of the Board of the Unemployment Fund for Highly Educated (KOKO). He has held the position since 2022, and his focus at the start of his new three-year term is firmly set on development projects and customer service.
Lessons learned and achievements of the first term
Wikstedt says that the decision to run for a second term was ultimately an easy one: there is still work to be done. “I still have more to give, and I find the work inspiring as well as a great challenge,” he explains.
According to Wikstedt, his first three-year term was unusually eventful. “Our most notable achievements were the setting up of Kallio Software Oy and the merger of the ETTK Unemployment Fund and KOKO. Both projects required a huge amount of work from everyone involved,” says Wikstedt.
The exceptional operating environment brought about by changes such as the Finnish Government’s new policy on unemployment benefits and a widespread shift in employment rates created additional challenges for KOKO’s Board. “The biggest lesson that we learned during my first term is the importance of doing your homework before making decisions. With careful planning, even the trickiest dilemma can be brought to a successful conclusion. Our Fund Director and Financial Director in particular played vital roles in this respect,” Wikstedt says.
Growth and high levels of customer satisfaction
KOKO has grown rapidly in recent years. The fund already has over a quarter of a million members and more than one hundred staff. “KOKO’s workload has increased with the rising rate of unemployment. We live in a constant state of flux,” Wikstedt says.
However, one thing has remained the same despite the changing nature of KOKO’s work: the fund’s services are well received by its members. “High customer satisfaction cannot be taken for granted – maintaining it is one of the Chairman’s most important jobs.”
Customer feedback plays an important role in the Board’s work. “We listen, we learn and we improve.”
Major system reform on the horizon
In terms of digital transformation, KOKO is involved in the biggest system reform in the unemployment fund business in decades. An IT company set up by KOKO, the YTK Unemployment Fund and the Open Unemployment Fund A-kassa is building new systems for managing unemployment funds’ services. “This joint venture of Finland’s three biggest unemployment funds is a project that could have been started years ago. Once the systems are ready to be deployed, Kallio Software Oy will invite all Finnish unemployment funds to join the new custom-built benefit processing system and any relevant peripheral systems,” Wikstedt explains.
KOKO’s role in influencing the future of unemployment security
According to Wikstedt, KOKO, as the second largest unemployment fund in Finland, has a critical role to play in setting the future direction of unemployment security. “We contribute actively to the work of the Federation of Unemployment Funds in Finland (TYJ), but we also use our own and our affiliates’ contacts to make a difference.”
Three objectives for the new term
Wikstedt has three main goals for his second term: getting system projects across the finish line, keeping the fund financially stable and raising customer service to an even higher standard.
He feels that KOKO is heading in the right direction. “I believe that we are doing the right things in the right way and for the right reasons.”
The man behind the title
Although his work is demanding, the Chairman also knows how to let loose: “I go to my summer house in the country, get the sauna going, fire up the barbecue and pour myself a glass of red wine.”
What makes his work meaningful for Wikstedt are the fund’s members and staff. “Customers, as in the members of the fund, have always been my priority. As Chairman of the Board, my customers also include KOKO’s employees – it is my job to make sure that their skills are up to date and that they enjoy their work.”
Wikstedt has a clear mission for his second term as Chairman: continuing the development of KOKO’s services in a way that always puts the fund’s members first.