9
Percentage point increase in earnings found in organizations with above-average diversity
In today’s highly competitive business environment, a diverse workforce has become a factor that can give an organization the edge. Winning clients, attracting talent or even securing funding to take a company public can depend on diversity. For example, Goldman Sachs Group recently announced it will no longer support initial public offerings of companies with all-male boards.
The returns on diversity are tangible, especially when it comes to innovation: a survey of 1,700 companies across eight countries found that organizations with above-average diversity had, on average, 19 percentage points higher innovation revenues and 9 percentage points higher earnings before interest and tax margins.
However, humans are inclined to bias, whether intentional or unconscious. Organizations are therefore looking to block those inclinations in order to make objective decisions when it comes to hiring, firing, promoting and developing workers.
In studies on orchestra auditions, women were more likely to advance to final rounds when they performed behind a screen. For many organizations, artificial intelligence (AI) has begun to serve as that screen throughout the talent life cycle.
“Challenges in today’s business world require diverse thinking,” observes Katherine Conway, head of Diversity and Inclusion and Community Affairs for Aon in Europe, the Middle East and Africa. “This is about driving business value. Clients want to see teams that reflect the global workforce, and they want the unique and creative ideas that come from diversity of thought.”
Algorithms, AI and data analysis are helping companies find the right internal and external people to fill jobs and decide how to develop their employees. The right controls can evaluate candidates’ and employees’ skills, experience and other specified criteria – and exclude any characteristics that could incite bias.
The traditional hiring process, which involves individuals sorting through résumés and conducting numerous interviews, can be distorted by something as simple as time constraints. For instance, recruiting teams can introduce biases as they narrow candidates to a more manageable size – such as targeting graduates of a certain university or using hiring platforms that may only accept applicants with photos.
When used properly, AI can help reduce the impact of those human biases in hiring. The technology’s ability to consider a larger pool of candidates enhances the chances for greater diversity. Using data generated by detailed questionnaires to evaluate that pool, technology can help companies identify qualified prospects quickly and without bias.
“From a diversity perspective, AI is not going to be influenced by a candidate’s demographic characteristics,” says Richard Justenhoven, product development director at Aon’s Assessment Solutions. “Bringing AI into the process can help keep the focus on measures like competencies, skills and experience to determine a candidate’s suitability for a role.”
Beyond recruitment, AI analysis of behavioral questionnaires can help create a more diverse and inclusive workplace. For example, the technology can help promote diversity by increasing existing employees’ awareness of and access to opportunities for advancement in the organization.
“Relying on performance management data and instinct to select who gets promoted is an inherently biased process,” comments John McLaughlin, partner, chief commercial officer EMEA, Human Capital Solutions, Aon. “Employee evaluations can be subjective. All employees don’t have equal visibility with leadership and access to sponsors who can bring more awareness to their achievements and skills. Technology can help reduce bias in decision-making around promotions and leadership potential.”
As businesses look to fill roles or evolve in new directions, technology can help leaders identify and develop suitable candidates who might already be on the payroll. “Often organizations aren’t thinking through a growth strategy for innovation based on growing their own internal talent,” McLaughlin adds. “The opportunity to apply this type of data in this way can be critical to an organization that is undergoing this type of change.”
AI models can also predict market-based pay for jobs, even with limited data. “This is important as new jobs are being created, especially technology-related jobs,” says Stefan Gaertner, partner at Aon’s Rewards Solutions Practice and cohead of the People Analytics Practice. “The rise in remote working has meant that there isn’t a lot of compensation data available. Using AI models to predict or infer fair market pay reduces compensation bias in the workplace, creating a fairer pay environment.”
In addition, companies can use AI to model future-state scenarios for their business and then design development paths that will allow people to perform in future jobs, even if those can’t yet be clearly defined.
The technology can also be used to provide quality control to an organization’s talent assessment process – that is, improving the performance of the humans actually making hiring and promotion decisions. Comparing the AI rating of job candidates to those of human recruiters and managers can highlight discrepancies that might be due to bias. These findings can then provide a basis for the recruiters’ retraining, thereby increasing their awareness of any potential and actual favoritism or prejudice.
Percentage point increase in earnings found in organizations with above-average diversity
If technology is to reduce or eliminate bias across the employee life cycle, fine-tuned and robust questionnaires and evaluation algorithms are essential. According to McLaughlin, the key is transparency.
“We like to recommend a ‘glass box’ approach: you want to offer visibility into what the AI is evaluating, how it’s scoring results and how it’s used to arrive at a decision,” he notes. “Transparency allows someone to course correct if bias is being introduced at some point along the way.”
It’s critical to ensure the assessment tools are designed to avoid inadvertently favoring a specific gender or ethnicity. Algorithms and questionnaires must be designed and evaluated with care. For example, simply basing an assessment algorithm on past hiring practices might result in a biased algorithm if the organization’s past hiring was biased.
“We also need to future-proof these models,” remarks McLaughlin. “We need to make sure that the models and the way we evaluate and assess people are adaptable.”
Machines will never replace humans in the hiring and talent evaluation process. Yet, when equipped with neutral questionnaires and well-constructed algorithms, AI can screen job candidates without biases that might usually hinder diverse hires and promotions. In addition, it can help employees develop the skills needed to become more effective and open doors to advancement. Taken together, the result could be a more diverse workforce.
“Properly designed and used, AI and assessment technology can help underrepresented workers break through bias-driven professional ceilings and help organizations reap the benefits of diverse workforces,” says Justenhoven.
Our Better Being podcast series, hosted by Aon Chief Wellbeing Officer Rachel Fellowes, explores wellbeing strategies and resilience. This season we cover human sustainability, kindness in the workplace, how to measure wellbeing, managing grief and more.
Expert Views on Today's Risk Capital and Human Capital Issues
Expert Views on Today's Risk Capital and Human Capital Issues
Expert Views on Today's Risk Capital and Human Capital Issues
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Our Fashion and Luxury Goods EMEA Insurance Market Insights Report discusses the macro events that impacted the insurance market in the fourth quarter of 2023 in the Fashion and Luxury Goods Industry in EMEA.
Article 3 mins
Hear from Aon and industry thought leaders to increase your working knowledge of Parametric Solutions through our four-part educational video series.
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By taking a 360<sup>o </sup>view of employee wellbeing, leaders can build the resilience of their organizations while improving workplace experiences.
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Financial institutions are falling short on providing organizational structure, building future skills and creating value within their organization. Addressing these is critical to future success.
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With technology advancements, new consumer expectations and unpredictable markets, retailers face hurdles in building a resilient workforce. Here are two actions to take for a stronger future.
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Parametric solutions have the flexibility to make hard-to-predict and often uninsurable “grey swan” events insurable. Such is the case for earthquakes — a potentially catastrophic risk across the globe.
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The insurance industry can help the economy transition to alternative energy sources and mitigate the impacts of climate change — from facilitating capital for clean technologies to protecting people and businesses.
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Technological innovations offer business leaders many opportunities to improve the cost and efficacy of employee health and benefits plans.
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The non-standardized nature of cyber and E&O policy wording creates the opportunity to mold an individually tailored and responsive risk transfer tool.
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With medical costs on the rise, companies are looking for ways to avoid passing the increased financial burden onto employees.
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As data becomes more advanced and precise, so does parametric insurance as a risk solution — a win-win for both risk managers and insurers.
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Ensuring future operational resilience of an acquired TMC business during an M&A starts with getting cyber due diligence right.
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Often overlooked, intellectual property is an asset in the Technology, Media & Communications industry that must have effective risk management to support an organization’s overall operational resilience strategy.
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The landscape for U.S. and UK pension plans has changed greatly. Companies are mitigating risks to meet regulatory requirements and protect their employees and finances.
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Our research shows three workforce challenges specific to technology companies. We highlight ways to close these gaps — which is key to future industry success.
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As hiring and employee turnover slows down, employers have an opportunity to rethink their salary increase strategy for 2024.
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Web 3.0 is coming. Every luxury goods business can profit from the use of its related technologies in digital assets, such as NFTs and the metaverse, but cyber security must keep pace.
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Funding to grow and innovate in the fashion and luxury goods industry can come from both traditional and non-traditional sources — like M&A and leveraging a brand’s intellectual property.
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With more brands looking to reposition themselves in the fashion and luxury industry and secure their future, a robust workforce resilience strategy will be key.
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Navigating complex, large mergers and acquisitions is a rare challenge for risk managers in life sciences. In these high-stakes scenarios, a reassessment of risk profiles and a strategic overhaul of risk financing becomes imperative to ensure the effectiveness of deals.
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In a landscape where IP is increasingly becoming integral to company valuations, many business leaders, boards, patent attorneys and litigation teams are making IP insurance a key asset in their toolkits.
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Construction and Real Estate industry respondents to our Global Risk Management Survey (GRMS) ranked economic slowdown or slow recovery and failure to attract or retain top talent as their two most critical risks.
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Financial Institutions respondents to our Global Risk Management Survey (GRMS) ranked cyber attack or data breach and regulatory or legislative changes as their two most critical risks.
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Financial Sponsors respondents to our Global Risk Management Survey (GRMS) ranked cash flow or liquidity risk and capital availability as their two most critical risks.
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Food, agribusiness and beverage industry respondents to our Global Risk Management Survey (GRMS) ranked commodity price risk or scarcity of materials and supply chain or distribution failure as their two most critical risks.
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Healthcare respondents to our Global Risk Management Survey (GRMS) ranked cyber attack or data breach and workforce shortage as their two most critical risks.
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Hospitality, Travel and Leisure industry respondents to our Global Risk Management Survey (GRMS) ranked cyber attack or data breach and economic slowdown or slow recovery as their two most critical risks.
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Industrials and Manufacturing respondents to our Global Risk Management Survey (GRMS) ranked commodity price risk or scarcity of materials and supply chain or distribution failure as their two most critical risks.
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Insurance industry respondents to our Global Risk Management Survey (GRMS) ranked cyber attack or data breach and failure to attract or retain top talent as their two most critical risks.
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Life Sciences industry respondents to our Global Risk Management Survey (GRMS) ranked supply chain or distribution failure and cyber attack or data breach as their two most critical risks.
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Natural Resources industry respondents to our Global Risk Management Survey (GRMS) ranked business interruption and regulatory or legislative changes as their two most critical risks.
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Professional Service respondents to our Global Risk Management Survey (GRMS) ranked cyber attack or data breach and failure to attract or retain top talent as their two most critical risks.
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Public Sector respondents to our Global Risk Management Survey (GRMS) ranked cyber attack or data breach and damage to brand or reputation as their two most critical risks.
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Retail and Consumer Goods respondents to our Global Risk Management Survey (GRMS) ranked cyber attack or data breach and supply chain or distribution failure as their two most critical risks.
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Sports and Entertainment industry respondents to our Global Risk Management Survey (GRMS) ranked damage to brand or reputation and business interruption as their two most critical risks.
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Technology, Media and Communications industry respondents to our Global Risk Management Survey (GRMS) ranked cyber attack or data breach and failure to attract or retain top talent as their two most critical risks.
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Transportation and logistics industry respondents to our Global Risk Management Survey (GRMS) ranked cyber attack or data breach and economic slowdown or slow recovery as their two most critical risks.
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Data and Governance have an important role in managing reputational risk and preventing supply chain issues in the Fashion and Luxury Goods Industry.
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As ESG scrutiny intensifies, luxury goods brands will need to juggle competing stakeholder demands.
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Asia Pacific respondents to our Global Risk Management Survey (GRMS) ranked cyber attack or data breach as the number one current and future risk for the region.
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European respondents to our Global Risk Management Survey (GRMS) ranked cyber attack or data breach as the number one current and future risk for the region.
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Latin American respondents to our Global Risk Management Survey (GRMS) ranked business interruption as the number one current risk for the region.
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North American respondents to our Global Risk Management Survey (GRMS) ranked cyber attack or data breach as the number one current and future risk for the region.
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Middle East and Africa respondents to our Global Risk Management Survey (GRMS) ranked economic slowdown or slow recovery as the number one current and future risk for the region.
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UK respondents to our Global Risk Management Survey (GRMS) ranked cyber attack or data breach as their number one current and future risk.
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Our research shows three workforce challenges specific to manufacturing companies. Addressing these is critical to future success.
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Understanding the physical and transition risks will be key to successfully managing climate risk and developing a climate resilient luxury goods business.
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Avoid limiting a portfolio’s capacity based on the capabilities or bandwidth of an existing process by working with the right partner.
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As COP28 approaches, leaders are exploring ways to make their businesses more sustainable and climate resilient.
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Generative Artificial Intelligence (AI) – a type of artificial intelligence that has the ability to create material such as images, music or text – is already a proven disruptor and its adoption is growing at an explosive rate.
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A complex macroeconomic environment continues to shape risk strategies and market responses.
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Medical costs continue to rise around the world. Aon’s Global Medical Trend Rate report provides insight into what conditions are driving these increases.
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Insurance CEOs are well aware of the talent crisis: they’re fully engaged and seeking answers.
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With increasing ransomware attacks, building resilience is a top concern for business leaders.
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Insurance leaders can confidently future-proof their business strategy and avoid misalignment, by engaging the right groups of people to define and deliver their roadmap for success.
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Commodity Price Risk or Scarcity of Materials is the seventh biggest risk facing organizations globally today and is predicted to rise to the third most critical risk by 2026, according to our survey.
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Economic Slowdown or Slow Recovery is the third biggest risk facing organizations globally today, and is predicted to be the second most critical risk by 2026, according to our survey.
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Failure to Attract or Retain Top Talent is the fourth biggest risk facing organizations globally, and is predicted to remain the fourth most critical risk by 2026, according to our survey.
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Regulatory or Legislative Changes are the fifth biggest risk facing organizations globally today, and are predicted remain the fifth most critical risk by 2026, according to our survey.
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Supply Chain or Distribution Failure is the sixth biggest risk facing organizations globally today, and is predicted to fall to the thirteenth most critical by 2026, according to our survey.
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Business Interruption is the second biggest risk facing organizations today and is predicted to fall to the sixth most critical by 2026, according to our survey.
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Cyber Attack or Data Breach is the number one risk facing organizations globally and is predicted to remain in this position by 2026, according to our survey.
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Damage to Brand or Reputation is the eighth biggest risk facing organizations globally today and is predicted to fall to rank twenty one by 2026, according to our survey.
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Failure to Innovate or Meet Customer Needs is the ninth biggest risk facing organizations globally today and is predicted remain in that position by 2026, according to our survey.
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Increasing Competition is the tenth biggest risk facing organizations globally today, and is predicted to rise to the seventh-most critical risk by 2026, according to our survey.
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Gene and cell therapies represent breakthrough advances in medicine, but they also have significant costs and potential risks for patients, employers, insurers, governments and manufacturers.
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A global survey of medical trend expectations highlights the health conditions affecting employees and impacting costs, how employees are using their medical plans, areas where they need better coverage and where employers can build on these insights.
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In the wake of record-breaking high global temperatures in 2023, the rising frequency of extreme heat due to climate change creates an urgency for the risk industry to analyze climate trends for better risk mitigation.
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Life sciences companies lag other industries in addressing the physical and mental health of employees and getting them future-skills ready. Here are actions to address these gaps.
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(Re)insurers must embrace AI technology to successfully navigate today’s emerging transformative trends that are shaping the insurance landscape.
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A drug class known as GLP-1 receptor agonists or simply “GLP-1s” (e.g., Novo Nordisk’s Ozempic) has been used for several years to help control type 2 diabetes.
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Technology, media and communications businesses need to understand how climate change threatens their operational resilience. Parametric insurance is becoming an important part of the solution.
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Within the fast-moving Technology, Media and Communications sector, workforce resilience is critical to operational resilience. The journey there involves understanding the key components of workforce resilience, how they can be measured and what initiatives promote greater resilience.
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Everyone working for an organization is responsible for building a culture of cyber resilience.
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Creating the right mix of talent will be key for capturing (re)insurance growth opportunities as transformative trends shape the future landscape.
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With medical costs continuing to rise globally, Aon’s 2024 Global Medical Trend Rates Report examines the risk factors driving the increased costs.
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New pay transparency laws are forcing employers to develop a pay disclosure strategy and make decisions like whether to voluntarily disclose salaries where it’s not legally required.
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The strategic use of credit solutions (credit insurance, political risk insurance and surety) can enhance liquidity, improve transaction returns, facilitate capital-efficient deal closures, and support long-term value creation.
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Employers that build flexible, inclusive cultures help caregivers in the workplace to balance their responsibilities on the job and outside work.
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The SEC published nine new Compliance and Disclosure Interpretations (C&DIs) covering the pay versus performance rule. The C&DIs focus on when awards are considered vested and the valuation of equity awards in specific circumstances.
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As the need for climate-resilient infrastructure grows, the industry contends with changes in regulations, building strategies and risk.
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CHROs are using workforce data and insights to craft solutions that address organizational challenges and elevate their people.
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Burnout and languishing threaten individual and organizational productivity and business outcomes. A company’s employee wellbeing strategy can help prevent them by mitigating microstress.
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With continued market volatility, finding adequate coverage for growing protection gaps via traditional insurance alone is challenging. Parametric solutions can help businesses build resiliency against catastrophe-prone exposures and more.
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A holistic understanding of climate risks requires a multidimensional approach to data, risk models and developing staff expertise.
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The IAC recommends the SEC mandate prescriptive requirements in several key areas of human capital management disclosures to provide investors with relevant, timely and comparable data to adequately contextualize a company’s workforce value.
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New legislation is presenting employers with an opportunity to model sustainable pensions and modernize employment conditions.
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With a robust exit strategy, financial sponsors can create value from day one and enable a strong long-term outlook.
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As cyber attacks become more sophisticated, banks can shore up their cyber-security resilience efforts by building a partnership between business leaders and cyber technologists.
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As cyber threats continue to increase it is vital that businesses build ongoing operational cyber resilience to help assess, mitigate and transfer risk, and recover should an attack occur.
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Addressing the retirement pay gap issue between men and women starts with first acknowledging it exists. Then companies can conduct further analysis and adjust their benefit plans accordingly.
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Secondary deal activity will likely continue to strengthen as financial sponsors navigate widespread macroeconomic uncertainty.
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Organizations can refresh their employee pension communications with these five tips to help people connect with their retirement planning.
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The first 10 days after a cyber-attack can be the most damaging. Having a cyber incident response plan in place and ready to deploy can help companies assess threats and develop controls.
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Pricing pitfalls are more common than you think, whether it's working with incomplete data or key man risk – but with the right pricing process, many of these issues can be mitigated. Read our article to learn about the most common pricing errors, and what insurers can do about it.
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In today's increasingly complex insurance landscape, an inadequate pricing system can not only impact insurers' view of risk, but also prevent them from making the right decisions at the right time. Read our article on why it's essential to get pricing right.
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By leveraging the advances made by academic research, companies can develop more robust climate risk resilience.
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Climate modeling has been around for decades but mainly used by academic and government scientists. Led by the risk industry, the private sector is adapting these models to broadly assess the physical impacts of climate change.
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With the continued threat of rising temperatures, companies should focus on building climate and weather-related impacts into their overall workforce resilience plans.
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Companies recognize that wellbeing is more important than ever. But the programs they offer don’t always match what their employees need.
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SECURE 2.0 is changing retirement planning for businesses and employees. Strategic decisions will be critical in building sustainable retirement plans.
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Sales teams have unique compensation programs that are critical for aligning selling behavior and outcomes to business goals. Here are five considerations to prepare plans for the year ahead.
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As cyber attacks evolve, insurers are scrutinizing how organizations understand and address potential cyber security exposures. Achieving a baseline of security standards is crucial to securing coverage, demonstrating a strong resiliency program is key to achieving optimal terms and conditions.
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Not only does ESG regulation have the potential to make or break an M&A deal, but failure to comply could also significantly damage a business.
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Companies are increasingly turning to personalization to keep up with workforce changes and deliver value to their employees.
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In a move designed to close the gender pay gap, the European Commission is increasing pay transparency across member states. Prepare your firm now for potential implications and opportunities.
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Climate change or exposure growth? By understanding the drivers of increased severe convective storm loss volatility, reinsurers can better prepare for January 1 renewals.
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Innovation in data, analytics and risk transfer solutions enables Aon to help clients accelerate their investments in decarbonization and climate resiliency and support the transition to a lower-carbon economy.
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Alternative proteins and farming methods may be the future of food, but stakeholders must be aware of the risks that come with these opportunities.
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In a volatile climate, institutional investors are turning to outsourced chief investment officers to conquer administrative, regulatory and market challenges.
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With the property market remaining volatile, risk buyers need a solid strategy to stabilize their risk portfolio.
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An OCIO can help asset owners make decisions with confidence and help deliver an optimal investment strategy.
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Many risk buyers remain challenged to find adequate coverage to address a growing protection gap, especially for their cat-prone exposures and other risks. Parametric is an alternative solution that has grown in utilization to insure against a variety of perils in any market conditions.
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Cyber security is a growing business concern, but many companies still need to improve their cyber resilience in key areas. Aon’s 2023 Cyber Resilience Report explores how global industries are protecting themselves against cyber threats.
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A strong people strategy and robust change management and communication approach will drive better cultural alignment during M&A deals — ultimately increasing the chance for success.
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In a rapidly changing IP landscape, companies should consider assessing their risk exposures and management strategies to help protect some of their most valuable assets.
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As cyber attacks increase and become more costly, cyber security coordination across business units has become more important than ever. By bringing the chief information security officer (CISO) and chief risk officer (CRO) together, companies can take a proactive approach to minimizing cyber risks.
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As healthcare becomes more expensive, companies are searching for ways to keep costs down for their employees. Focusing on a few core areas can help.
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Business leaders are facing a growing number of complex and interconnected risks, resulting in decision fatigue for many executives. Aon CEO Greg Case explains how leaders can take a proactive approach to difficult choices while investing in talent development and wellbeing.
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Artificial intelligence is driving rapid change globally. In technology, media and telecoms, AI can be a human capital opportunity, not just a risk.
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Delivering compelling total rewards that meet the needs of a diverse workforce requires a strong connection to your EVP and innovative technology.
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Work-from-home and hybrid-work models can significantly influence the commercial real estate market, which in turn has a major influence on the financial health of a city.
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Employees often face cyber attacks while they’re on travel for business, putting sensitive company data, trade secrets and intellectual property at risk.
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Risk managers are rethinking their risk resilience by turning to parametric insurance, an “if-then” model designed to complement and supplement a traditional indemnity program and better match capital to the broad nature of risk caused by natural disasters.
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Exploring the human capital challenges in the Middle East arising from the current interest rate environment.
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Employer-provided retirement programs have become more complex to administer. Collective plans can help to ease the burden.
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To maintain a competitive edge in today’s complex global economy, people leaders must expand their data strategies and get organized to keep up-to-date and make better risk decisions.
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The return of El Niño is creating challenges for the global supply chain, including risks for transportation and logistics. As disruptive weather and climate events persist, vulnerable industries will need to rethink their supply chain strategies to maintain resilience.
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An alarming number of insured Americans still can’t afford healthcare treatment, but there are approaches employers can take to reduce costs and improve outcomes for employees and their families.
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Record high Atlantic water temperatures are leading forecasters to predict an above-average hurricane season. Learn how to build business resilience to protect hurricane-prone properties.
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AI is creating new possibilities in life sciences, especially in R&D, training and marketing. But, as the industry adapts to AI, it also faces risks and challenges.
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Unexpected global changes have shaken supply chains, exposing the fragility of a complex system. While some businesses search for stability, others are harnessing the power of improved data, analytics and AI to strengthen their resilience and opportunities for growth.
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Lowering greenhouse gas emissions is a growing priority, but successful industrial decarbonization requires a clear view of regulations and risk.
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In a tight labor market, people leaders are relying more on talent assessments for pre- and post-hire candidates. The resulting data and insights lead to more informed hiring and retention decisions.
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As patent litigation continues to evolve worldwide, analyzing past trends can help support informed risk management decisions for the future.
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New standards from the IFRS Foundation’s International Sustainability Standards Board (ISSB) add expectations for companies to disclose more stringent climate risk and oversight information, as well as greenhouse gas emissions data.
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Artificial intelligence could help banks make better use of customer data and workforce capabilities, in addition to reducing financial fraud. However, financial institutions must be mindful of the risks of AI as well.
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As the risk landscape expands, every TMC business should consider developing a robust framework for operational resilience. A three-phase strategy provides a rational approach to building a framework to help understand and manage key risk concerns and minimize business disruptions.
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Working together across an organization to build a contingency plan for dangerous climate events is crucial to ensuring everyone is protected.
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Companies can enhance their DE&I efforts — and gain better returns — by creating a culture that enables their employees to feel a sense of belonging at work.
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In a constantly evolving business landscape, talent assessments can help organizations understand current and future skills gaps in their workforces.
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To maintain a competitive edge in today’s fast-paced and volatile world, HR leaders must harness the power of their people data.
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Without the proper insurance, litigation and contingent risks can lock up capital and prevent a deal from closing.
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Wellbeing strategy, once seen as a luxury, is now a vital part of a company’s overall strategy. Integrating wellbeing into other areas of a company is the next step forward.
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Protecting and sustaining businesses in food, agribusiness and beverage, financial institutions, life sciences and renewables require a resilient workforce. Organizations must consider the skills, capabilities, agility and wellbeing of their people to achieve a productive and healthy workforce.
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Organizations are making strides toward achieving net zero greenhouse gas emissions by 2030, but securing the capital to do so is a challenge.
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Above-average starting salaries for new employees are leading to 'pay compression.' And it could pose a threat to pay equity.
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A buyer-friendly Cyber and E&O market is quickly emerging. Learn more about the changing global market and how to capitalize on it.
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Uncovering the impact of the UK Gender Pay Gap reporting regulations
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A ROSI framework allows businesses to link risk, security and insurance to help manage cyber exposure and increase cyber resilience.
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In today’s increasingly volatile global economy, business leaders are focusing on two key areas of decision-making: Risk Capital and Human Capital.
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Pressure to reduce costs in response to a challenging economic environment highlights the pivotal role data and analytics can play in optimizing business investment in talent and future growth.
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The current economic climate has created headwinds for mergers and acquisitions, causing shifts in financing. Using trade credit insurance can help unlock value and reduce volatility.
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M&A deals are among the most challenging events a business can navigate. Effective organization design and talent planning are critical to ensure a smooth transition.
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The LPGA shares how data technology has helped to pinpoint the personality traits of top players, leading to success on and off the golf course.
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With increasing global uncertainty, businesses should focus on emerging threats and decide how to best address them.
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Resilience and growth are dependent on business leaders taking action to respond to ESG risk and opportunities.
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Return on investment is one of the biggest considerations in implementing employee benefits. This is more pertinent as global economic volatility forces companies to balance costs with expectations.
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Where, when and how work gets done is changing, causing companies to reassess existing roles and determine what skills are required for the future.
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Aon’s 2022–2023 Global Wellbeing Survey explores what employers around the world are doing to support the needs of today’s workforce.
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Benefit captives support health plan design flexibility and a standard of coverage for all employees.
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Directors face potential equity transaction liabilities throughout a company’s growth. Learn about mitigating these costly risks.
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Make your assessment process successful: Meet inclusion and diversity goals. Be mindful of the participant experience. Cater to individual needs.
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How can corporate buyers achieve optimal placement outcomes given the current reinsurance market dynamics?
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During a complex M&A deal, centralized project management helps keep human resources workstreams connected to ensure successful post-deal outcomes.
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New regulations in the U.S. aim to peel back the curtain on how healthcare prices are set. This will drive employers to use data to make better decisions about the best coverage for their people.
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The rising cost of energy is driving leaders in the heavy industries to rethink their approach to risk.
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Increased use of secondary transactions in the private equity market has created an opportunity for Representation and Warranties insurance.
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As the role of managers changes, organizations are finding new ways of effective manager training.
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Business leaders should take a close look at their reward programs during a merger or takeover to help retain talent and ensure a cohesive pay strategy.
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How can leaders build a strong and adaptable supply chain for business survival and growth during uncertain times?
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To make the most out of their ESG data, companies can draw on different approaches to benchmarking and increase their attention to governance.
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As healthcare organizations digitalize their business and face global workforce shortages, our analysis finds they are rapidly recruiting new talent with specific data skillsets.
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How can executives and deal teams execute deals with cyber due diligence and create a competitive advantage?
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Now more than ever, the reinsurance industry needs insight. But it is still slow to implement advanced data and analytics.
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How can firms stay on top of cyber threats in an increasingly digitalized world?
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HR can make an impact in a business by identifying the forces creating instability and linking HR processes.
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Some of the worst cyber incidents come from the inside. Use these tips to recognize and mitigate insider threats.
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The renewable energy industry is facing unique headwinds, but there are opportunities to accelerate the role of European onshore and offshore wind power.
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For many companies, recognizing and addressing supply chain risk can seem like an impossible task. But a unified approach can chart a clearer course of action.
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While market volatility has decreased the value of 401(k)s, pooled employer plans can produce savings.
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Employers around the world are seeking ways to prioritize DE&I in their benefits programs and workplace resources, according to Aon’s 2022 Global Diversity, Equity and Inclusion Survey.
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ESG ratings don’t always tell the whole story, which is why companies should develop a clear and compelling ESG story for D&O underwriters.
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Life sciences companies are trying to find a balance between navigating economic pressures and a push to innovate for the future.
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Multifactor authentication is a critical cyber defense, yet criminals are working to bypass it. Use these tips to build an effective MFA layer.
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Recent events have helped unite security and technology professionals in the fight to thwart cyber criminals. Here's why HR leaders also play a major role.
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Insurers can help advance a climate crisis solution. Here are three ways the industry can help accelerate the journey to net zero emissions.
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Industry leaders in life sciences, financial institutions, technology, media and communications and food, agribusiness and beverage face a surge in cyber threats and data breaches.
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The impact of climate change on businesses, insurers, and communities can provide insight on how to mitigate the risks associated with extreme weather events.
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Following a tumultuous two weeks in the banking sector and subsequent volatility to global banking markets, depositors and affected third parties are having to rapidly assess, and respond to, a range of risk management, liquidity and human capital challenges.
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The food, agriculture and beverage sector is examining sustainable solutions and environmentally friendly practices to ensure a resilient future.
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Volatility in the global economy is putting pressure on organizations and employees at all levels.
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IP litigation risk continues to evolve year-over-year, creating complex challenges for SMEs. You can help stay protected and prepared by focusing on these mitigation techniques.
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In the wake of Hurricane Ian, Aon sent a team of experts to the affected area to understand the lessons learned from this storm.
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HR leaders are at the center of activating ESG initiatives in the workplace. This has a critical impact on protecting a firm’s greatest asset — its people.
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Businesses are recognizing the need to adapt to the impact of climate change on supply chains.
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Facing natural disasters, advanced weather and catastrophe modeling can help companies prepare — often resulting in quicker claims processing and response.
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Climate change has a negative impact on employee health and wellbeing. More employers are addressing these challenges.
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Today’s global tax environment grows ever more complex. Tax insurance is a potential solution to help provide certainty and protect value in M&A transactions.
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Academic research collaboration with the insurance industry enhances understanding and creates actionable climate change insights.
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ESG strategies are becoming a key part of the corporate landscape as executives and investors use new metrics to assess a company's long-term success.
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Ransomware attacks have become more frequent and costlier, presenting new challenges to business continuity and security.
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Experts discuss the challenges and opportunities faced by organizations in their journey to net-zero in the Aon Insights Series 2022 in London.
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In the constantly evolving M&A market, companies must be prepared to navigate a range of risks that can impact the success of their deals.
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The goal of achieving ‘net zero’ emissions is gaining momentum as a solution to climate change.
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Governments around the world are seeking to address critical needs and stimulate their economies following the COVID-19 pandemic.
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The life sciences industry is facing a dynamic and volatile landscape due to the COVID-19 pandemic and other global risks.
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How can private companies best prepare the ground for a successful US IPO?
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Climate disclosure requirements will increase globally in 2023. Use this guide in preparation to reduce risk and attract investors.
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A report by Aon has advised businesses to prepare for a recession by evaluating their workforce, markets and investments.
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A new phenomenon in which employees become disengaged — 'quiet quitting' — is drawing increasing interest.
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Accompanying the considerable growth and potential, there is a long list of risks associated with the cryptocurrency and metaverse markets.
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Inflation caused by economic uncertainty and supply chain disruptions has impacted businesses and consumers globally.
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By investing in biodiversity alongside other climate strategies, companies can find new opportunities and manage risk.
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NFTs are digital ownership records that are verified using blockchain technology and can be tied to works of art, collectibles and other intellectual property.
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Reputation analytics are a powerful predictive tool in gauging near-term ESG risk exposures.
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Data brokers are companies that collect and sell personally identifiable information to third parties. This industry has become a multibillion-dollar industry, but it also presents risks to individuals and businesses whose personal information may be used for nefarious purposes.
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Because Russia and Ukraine are responsible for a significant share of the world's wheat, barley, corn and oil seed, the conflict will have significant consequences on global food supply and prices.
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In this interview, Greg Case, the CEO of Aon, discusses the challenges that businesses are facing due to the pandemic, cyber risks, and the impacts of climate change.
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Credit insurance allows businesses to protect income streams and build resilience. Read more about the different types of credit insurance models.
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As the global economy becomes increasingly complex, the need for an organization to innovate is brought into sharper focus.
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A successful DEI strategy is an organization-wide effort and involves effective communication to stakeholders inside and outside an organization.
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A record number of workers are quitting jobs and changing companies — or thinking about it. How can employers retain talent in today’s competitive market?
Article 5 mins
The rise of non-fungible tokens has created new markets.
Article 8 mins
From working on the front lines and extra childcare needs to losing jobs, women are bearing the brunt of COVID-19’s impact on the workforce.
Article 3 mins
How technology can help solve the difficulties organizations face analyzing data
Article 7 mins
Employee wellbeing has a direct impact on company performance and customer satisfaction.
Article 6 mins
Allyship creates an inclusive workplace where everyone has opportunities for growth and development.
Article 6 mins
Businesses that rely on client relationships face challenges in succession planning as key employees retire or leave the firm.
Article 5 mins
The Suez Canal blockage highlighted the importance of businesses understanding their supply chains and finding weak links to reduce risks.
Article 7 mins
Artificial intelligence is changing the way businesses operate. As its use becomes more widespread, leaders need to understand how this technology works and what its future role may be.
Article 7 mins
Building a resilient workforce for businesses is more important than ever — particularly in the context of the COVID-19 pandemic.
Article 5 mins
Companies and solvent banks are looking for ways to protect their assets amid financial volatility. Failing banks and their clients will need to act fast to meet employee needs and maintain capital.
Article 6 mins
For many companies, today’s economic environment and recent banking activity present new ways to think about and manage their investments. Hedge funds can help in diversifying portfolios, if used strategically.
Article 8 mins
The aviation industry was one of the hardest hit by the COVID-19 pandemic. Now it is essential that airlines seize new opportunities.
Article 6 mins
The move toward greater pay transparency will have an impact on the salary considerations of employers and employees alike.
Article 6 mins
This article discusses the importance of good judgment in leaders when making crucial decisions for their organizations.
Article 4 mins
In Uganda and Rwanda, hundreds of small farmers are producing coffee and tea but can’t gain access to major international markets to sell their crops.
Article 5 mins
Aon and Red Cross have joined forces to help communities become more resilient to natural disasters, climate change and public health crises.
Article 8 mins
ESG practices are a crucial metric for investors. Studies suggest that companies with strong ESG programs are more resilient.
Article 6 mins
The value of intangible assets, such as IP, can make up a large portion of a company's market value.
Article 9 mins
Middle-market businesses — companies with $10 million to $1 billion in annual revenue — play a vital role in driving global economic growth.