Board Dynamics
Aon can support trustee boards to understand board dynamics, diversity characteristics of individual trustees, how this contributes to the collective performance of the Board, given the agenda of work for the Board. This awareness can also help shape succession plans and inform the process for attraction and selection of member-nominated trustees.
Aon's tools can help boards understand their collective strengths, blindspots, cognitive diversity and the means by which individuals are best able to contribute. This knowledge will support the Board in improving the skills and diversity of the Board and increasing inclusion, all of which has been demonstrated to improve effective decision-making.
The role of a trustee is ever more complex, with boards requiring a multitude of skills - both technical and soft skills. Having visibility of the diversity of strengths and experiences of the collective, together with the analysis by individual can help identify training needs for the group; agree the structure and agenda of work for sub-committees; understand the risks attributed to key individuals ceasing to be involved in the pension scheme.
Aon is able to support the Board to understand;-
- The strengths and potential blindspots of the board;
- How individual board members make decisions and contribute to meetings, including the behavioural biases that tend to impact group decision making;
- The key skills to look for in future trustees to enhance the board's performance;
- The diversity characteristics represented by the current trustees including physical diversity characteristics through to cognitive diversity.
- Aon's tools include:-
- a skills and diversity survey;
- a personality profiling exercise;
- training and tools to overcome behavioural biases in trustee decision making;
- exercises to uncover unconscious biases in trustee decision making and techniques to draw these out
D&I practical guide
"The Pensions Regulator welcomes the development of guides like this which help trustees and pension schemes take practical steps to improve their diversity and inclusivity, something we believe is crucial for better decision making"
David Fairs, Executive Director of Regulatory Policy, Analysis and Advice at The Pensions Regulator
D&I podcasts
Our services include:
- Scheme secretariat support
- Out-sourced pensions management support
- Review of your existing governance structures
- Support in setting your long-term goals for your arrangements
- Review of the skills, diversity and biases of your governance board
- Development of your pensions Diversity and Inclusion strategies
- Development of your risk framework
- Cyber awareness and response planning
- Project management services
- Secondments
What our clients say about us
"This process has been especially insightful in focussing our attention on our committee composition for 2021"
Where do I find out more?
If you would like more information on measuring the performance of your trustee board, please contact please one of the Governance Team below, or your usual Aon contact.
Susan Hoare, FIA - Partner
0117 900 4441
[email protected]
Sarah Butlin, APMI - Associate Partner
0117 945 3536
[email protected]
Sue Austen, AIA - Associate Partner
0113 3943413
[email protected]
To learn more, or to speak to one of our experts, call 0800 279 5588 or email [email protected]
Aon Solutions UK Limited is authorised and regulated by the Financial Conduct Authority.