“Our people are our most important asset” – a business truism. Translating this truism into practice is frequently a challenge for Boards. The addition of a formal workforce engagement provision in the most recent UK Corporate Governance Code (effective January 2019) was introduced to drive greater focus. Through our Search and Evaluation assignments, Fidelio sees significant interest in how Boards can most effectively engage with employees and address the people agenda. We were therefore delighted to welcome Pauline van der Meer Mohr to a Fidelio Board Breakfast to explore this theme. Pauline brings exceptional insight in her capacity as Remuneration Committee Chair of HSBC; Chair of EY Netherlands LLP; Deputy-Chair of Royal DSM N.V.; Chair of the Dutch Corporate Governance Code Monitoring Committee; and Non-Executive Director of Mylan N.V. Fidelio was also joined by a highly experienced group of Chairs, Board Directors, Chief People Officers and Company Secretaries from a range of sectors and geographies. This exploration of the people agenda was lively and broad covering Financial Services, quoted companies, professional services, further education and non-profits. In this Table Talk Fidelio sets out our five key takeaways with more to follow in future Overtures:
The Core Talent Agenda – central to the work of the Board
People Risks – too frequently under-estimated and under-managed
People Data in the Boardroom – an evidence-based approach to people decisions and strategy
The Diversity Agenda – the holy grail of cognitive diversity
Compensation and Incentives – the age-old tools of stick and carrot
This was no soft topic. A Board seeking to do justice to the people agenda will be deeply strategic, averse to siloes and evidence-based.
For full details of Fidelio’s five key takeaways from the Board breakfast with Pauline van der Meer Mohr, click here.