Applying Knowledge in a Changing World: A Trustee’s Perspective

I just took a short break and only had time for one read this time around – but what a great read it was. Here are a few quick thoughts, reminders, and lessons that stood out to me…

Knowledge is power. No, it’s not. It’s what you do with knowledge that truly makes the difference. I’ve been saying this since the early 2000s, and I was pleased to see Russell Beck. The real shift now, however, is in accessibility. Everyone has knowledge at their fingertips – it’s how we apply it that counts.

Change is constant. Not quite. What really matters is that the pace of change is accelerating – and it’s not about to slow down anytime soon.

Core n’ chore: Focus on what you do best and outsource the rest. As businesses respond to globalisation, they’re defining their purpose more narrowly, honing in on their core strengths and aiming for dominance in their niche. This shift means fewer direct employees and a greater reliance on agencies, contractors and third-party suppliers. As a result, managing supplier relationships is becoming just as critical as managing employees. This evolution presents a significant challenge for employee benefits and pensions. If auto-enrolment stays at 8% while the number of directly employed staff declines, we’ll need a new model.

People management – both for employees and suppliers – will be an essential skill in the future, alongside creativity and innovation in how we use knowledge.

A talent shortage is looming. The most sought-after skills will be in short supply. Attracting and retaining talent isn’t just about remuneration – though that certainly plays a role. Today’s talent migration is driven by workers seeking value, purpose, and support. They’re leaving organisations where they feel overlooked and heading to those that genuinely invest in them.

It’s not ED&I – it’s E&D with I. Cognitive diversity fuels business success. But without inclusivity, cognitive diversity remains constrained. To achieve inclusivity, employees need to feel a sense of belonging. And to feel that, they must feel valued.

And finally, as a professional trustee, with the book included a great reminder of the famous Red Adair quote:
“If you think hiring a professional is expensive, wait until you hire an amateur.”