How we gave our client, a leading global run-off provider, insight into how effectively the firm was managing people risk, backed up by specific findings from our deep dives.
The background
Our client is a leading global run-off provider. They had recently introduced a range of new HR initiatives and were seeking an independent assessment of the risks posed by of key person dependency, skills gaps and talent retention in the tough post-Covid recruitment market.
Our solution
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We reviewed the senior succession planning process and spent time with the HR team to understand the approach to managing key person risk and skills gaps.
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We identified certain higher-risk departments for further deep-dive review. We conducted in-depth interviews with department heads and other key staff to identify key-person risks, critical skills gaps and recruitment and retention issues.
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We made recommendations to the firm for improving its people risk management together with a RAG status for the risks in each department, highlighting how people risks were distributed across the business.
The results
We gave insight into how effectively the firm was managing people risk, backed up by specific findings from our deep dives. We provided clear recommendations on how to address key gaps.
