NN Group redefines its purpose through integrated thinking
The <IR> Business Network’s Integrated Thinking & Strategy Group publishes its latest case study on integrated thinking in action from NN Group.
NN Group is an international financial services organisation based in the Netherlands and active in 20 countries, with a strong presence in Europe and Japan. With its 15,000 employees, NN provides retirement services, pensions, insurance, investments and banking to approximately 18 million customers.
Having become a listed organisation in 2014, NN Group required a new approach to evaluating its value creation process; one that would be more holistic and consider megatrends affecting the organisation, as well as support better stakeholder communication.
Integrated thinking supported the organisation’s journey to redefining its purpose, as well as the creation of its new strategy aimed at creating long-term value for all stakeholders.
NN Group launched its Statement of Living our Values, which defines how the organisation does business, while preserving the future by setting long-term objectives over short-term gains. They set five strategic commitments to monitor and measure progress, that are underpinned by financial and non-financial KPIs and targets. The Group also established a group-wide Purpose Council, to oversee how they are upholding their purpose and progressing on their non-financial targets.
Working on their reporting model led NN Group to publish their first integrated report in 2017 and they joined the <IR> Business Network in 2018.
Read the case study in full and find out more about NN Group’s motivations, approach and success in achieving its purpose.
The <IR> Business Network’s Integrated Thinking & Strategy Group series of case studies examine how integrated thinking has been embedded within international organisations from diverse sectors. The interviews conducted with key stakeholders identifies each organisation’s motivations, how integrated thinking has helped shape and deploy the organisation’s strategy, and what the benefits have been.