Prudential plc

Nikki Davies

In January 2021, a pilot Sponsorship Programme was launched at Prudential plc. Sponsorship has been positioned in research and business journals as critical in accelerating more women into leadership. However the leadership team at this large multinational insurer had identified the need to accelerate, not only women, but talent from diverse backgrounds, capabilities, and skillsets to broaden diversity of thinking at the most senior decision-making tables across the Group.

As part of the Global Talent Review undertaken annually, the company identified 30individuals whose career could be accelerated within the organisation, with the benefit of the right sponsor. These employees were paired with carefully selected sponsors who have the power to help them grow, connect and succeed within the organisation.

The most surprising aspect of the Sponsorship Programme was the benefits that the Sponsors shared. The Sponsors were from the C-Suite, and they have become the largest advocates and revealed they learned a lot about themselves, their leadership, and the organization.

Dennis Tan, CEO of Prudential Singapore shared how he learned how Sponsorship is different from mentorship.” When on-boarding Sponsors, Prudential evokes the analogy of an agent on behalf of Hollywood actors. The agent advocates for their client and seeks out their clients’ next career breaking role. That is the role of a Sponsor in the Company: find the right position for the sponsee.

James Turner, Group Chief Financial Officer, found that through the programme, he became closer to the entrepreneurial spirit of the organisation. He also developed his own leadership skills as well as vulnerability and willingness to learn. This was a thought shared by Derek Yung, CEO Prudential Hong Kong who also benefited from learning from people of different backgrounds, cultures, and experiences.

"When on-boarding Sponsors, Prudential evokes the analogy of an agent on behalf of Hollywood actors."

Nic Nicandrou, CEO Prudential Asia and Africa, enjoyed being able to build relationships with sponsees and help them work towards their goals. In the process, developing a stronger organisation. 

Jolene Chen, Chief Human Resource Officer, found that the relationships built through the programme resulted in more courageous conversations. Our talents are more confident to voice their ambitions and goals and our sponsors could promote and influence for their sponsees when the right opportunities arose.

For those selected as a sponsee, they would have demonstrated a strong performance, show potential for future growth, and an openness to learning. ​ The programme promises the sponsee:

​• Enhanced self-awareness​

• Increased self-confidence​

• Improved readiness to take on strategic projects​

• Increased access to opportunities ​both horizontal and vertical)

• Provide the experience and motivation to become a sponsor ​for others.​

A year on, Prudential saw a 100% retention of participants in the sponsorship programme. All of them have progressed or are progressing their careers.

With the success of the pilot programme, the company is now expanding its sponsorship initiative and going deeper into the organisation to strengthen the diversity of the talent pipeline.

As Prudential pivots to focus its business solely on Asia and Africa, the programme expands in 2022 by cascading to the next level of our talent pipeline, doubling the number of sponsees to 60, and focusing on underrepresented talent groups, based on gender, generation and background as the company continues to ensure it has a strong and diversified leadership team to drive innovation, transformation, and growth across the two continents.