Board composition and division of responsibilities continued
How will we improve in these areas? To focus on these actions, we have agreed the following: Board and Committee effectiveness review continued
Action
Progress and our plan
• Firm commitment to at least 33% female representation and at least one person of colour on the Board by 2024 • Presenters to the Board encouraged to highlight diversity statistics within their business area as happened during the strategy day, when each presenter did this • Appointment of Inge Bryan as Managing Director of NCC Assurance Europe • Unconscious bias training has now been completed by the Board with the ExCom having already completed it • Significant work underway internally on creating an inclusive culture throughout the organisation • More Board discussion on ensuring our culture aligns with our values • Regular updates on how colleagues were coping with remote working during Covid-19 and the support available to them • Presenters to the Board encouraged to highlight culture initiatives within their business area • Board to have more exposure to senior executives across the business • Having a designated NED for workforce engagement reporting back to every Board meeting has helped with this (please see page 80 on colleague engagement for further details) • NEDs to spend more time in the business and at different offices (which will be done in person as we come out of lockdown) • Reporting on the “mood” of the business within the monthly CEO reports and areas of concern or where there are higher than expected colleague attrition levels • Discussing the results of both the annual colleague engagement survey and the more regular “pulse” surveys • One day dedicated strategy session now held annually, attended by all divisional Managing Directors and this year by brokers and advisers to provide an external and wider market perspective • Ensuring strategy is more of an ongoing Board discussion between annual strategy days rather than a once a year activity • Shifting Board discussion away from short-term tactical issues to more longer-term strategic issues • Actions from dedicated strategy day circulated to the Board with a check-in on strategy halfway through the year • Nomination Committees now being held with a programme of four Committee meetings planned every year with the Committee moving away from a transactional Committee (e.g. to recruit a new Director) to a more holistic view encompassing: future skills needs, talent pipelines, diversity, succession planning, and reviewing leadership needs of the Company • Nomination Committee redoubling focus on succession planning for the Board and senior management including discussing Executive Director succession planning in general terms • Chris Stone (Nomination Committee Chair) and Colin Watt (Global Chief People Officer) are now meeting regularly and discussing a separate workstream on succession planning
An increased focus on diversity
Assessing and monitoring culture
A continued focus on strategy and strategic discussion
An increased focus on succession planning and ensuring that these plans are reviewed on a regular basis
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NCC Group plc — Annual report and accounts for the year ended 31 May 2021
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