Aon has just announced that it’s shedding its talent business–well, a chunk of it, anyway. The global professional services firm is selling the culture and engagement and leadership development and advisory parts of its talent practice, along with related products and services, to Spencer Stuart, the executive search and consulting firm.
“Selling [these] businesses provides an opportunity for Spencer Stuart to create greater value for clients, given their focus on talent and leadership,” says Cary Grace, CEO of Aon’s Retirement & Investment Solutions. “In return, Aon has additional opportunities now to further focus its investments on new and enhanced solutions on behalf of its clients.”
Indeed, Aon will still be a significant player in the HR and talent development space. The company plans to intensify its focus on its rewards, assessment and performance offerings, says spokeswoman Nadine Youssef. This will include its rewards advisory, rewards data and benchmarking, equity solutions, salesforce effectiveness, people analytics and organizational effectiveness capabilities, she says.
Over the last three years, Aon has expanded its assessment and selection services, acquiring online talent-assessment firms cut-e and CoCubes. In the rewards arena, it’s continued to invest in its McLagan and Radford practices.
“We have invested in market-leading capabilities and solutions and will continue to aggressively expand our capabilities in these areas to meet the evolving demands of our clients,” says Michael Burke, CEO of Aon’s talent, rewards and performance business.
Details of the agreement were not disclosed.