Since the outset of the COVID-19 crisis, Aon has been swift and decisive in its actions, with our priorities firmly centred around protecting the health and wellbeing of our colleagues, their families and our clients. We acted early to reduce travel, minimise face-to-face meetings, and move to work from home across our entire global network.
As the COVID-19 crisis continues, we are now taking further steps at a time of financial strength to ensure our business remains strong. Aon, like most companies, is not immune from the continuing financial impact of COVID-19 and we have already taken many actions to reduce our costs. On Monday 27th April we announced additional temporary measures, asking our UK colleagues to consent to a 20% reduction in base salary, whilst maintaining their usual hours. As part of this, we will protect our lower earning colleagues with a country specific minimum threshold for this reduction.
We realise that this action will receive attention from the wider market and that, as our clients, you may wish to know more. As such, we want to outline the key aspects of this decision:
- Taking this action now allows us to ensure that no Aon colleague has their job put at risk because of COVID-19. This gives our colleagues important certainty in such difficult times.
- Crucially, this decision means that we are able to continue to deliver exceptional service to our clients through this crisis and be well positioned and fully resourced to serve you as the economy stabilises. All aspects of our capability will be available to you, our clients, when you need it.
- Early and decisive action, that is within our control, will have a positive and material impact on our business and mitigates the risk of having to take more painful measures in the future.
We will continuously monitor this decision and the actions taken but we are confident that this is the right thing to do for our firm, our colleagues and of course for you, our clients. We would stress again that this decision is being made at a time of financial strength for Aon that will enable us to create desired flexibility in the coming months.
In an open letter to all Aon colleagues, our CEO Greg Case articulates this decision further. We are happy to share that letter with you, here.
We trust that you will understand the action we have taken and know that we remain committed to delivering the best of Aon to you.
Best wishes,
Julie Page
CEO Aon UK Limited