Mercer, a business of Marsh McLennan (NYSE: MMC), today released
its 2024 Global Talent Trends Study. Drawing on insights from over
12,000 C-suite executives, HR leaders, employees and investors
globally, the research reveals actions employers are taking to
thrive in this new era.
“This year’s findings highlight staggering shifts at work,” said
Pat Tomlinson, President, Mercer. “They point to a notable
divergence between the views of the C-Suite and HR on what will
carry business forward in 2024, and a lag in employees’ views on
the impact of technology. As we usher in an age of human-machine
teaming, organizations need to place people at the heart of
transformation.”
Generative artificial intelligence (AI) viewed as key to
increasing productivity
The rapid growth in generative AI capabilities has raised hopes
for workforce productivity gains, with 40% of executives predicting
AI will deliver gains of more than 30%. Yet, three in five (58%)
believe tech is advancing faster than their firms can retrain
workers, and less than half (47%) believe they can meet this year’s
demand with their current talent model.
“Raising productivity through AI is top of mind for executives
but the answer does not lie in technology alone. Greater workforce
productivity requires intentional, human-centric work design,” said
Kate Bravery, Mercer’s Global Talent Advisory Leader and author of
the study. “Leading companies recognize that AI is just part of the
equation. They are taking a holistic view to address drains on
productivity and deliver greater agility through new models of
human-machine teaming.”
There are challenges in finding a sustainable path to the future
of work. Three in four (74%) executives are concerned about their
talent’s ability to pivot and less than a third (28%) of HR leaders
are very confident they can make human-machine teaming a success.
Key to greater agility is embracing skills-powered talent models,
something high-growth companies have already mastered.
Employee trust has declined across the board
In 2023, trust in employers fell from an all-time high in 2022 –
a red flag, since the research shows that trust has a major impact
on employees’ energy, sense of thriving and intent to stay. Those
who trust their employers to do the right thing for them and
society are twice as likely to say they are thriving, with a strong
sense of purpose, belonging and feeling valued.
Nearly half of employees say they want to work for an
organization they can be proud of, and some companies are
responding by prioritizing sustainability efforts and “Good Work”
principles. Given that fair pay (34%) and development opportunities
(28%) are key drivers of workers’ intent to stay this year,
employers are incentivized to make faster progress on pay equity,
transparency and equitable access to career opportunities in the
year ahead.
Globally, employees are clear that a sense of belonging helps
them thrive, but only 39% of HR leaders say women and minorities
are well represented on their organization’s leadership team and
just 18% say that recent diversity, equity, and inclusion efforts
have increased retention of key diversity groups. Three in four
employees (76%) have witnessed age discrimination. As these
challenges compound with ongoing skills shortages, greater
attention around inclusion and meeting employees’ needs will help
all employees thrive.
Resilience will be vital in the coming years
Recent investments in risk mitigation have paid off, with 64% of
executives saying their business can withstand unforeseen
challenges, up from 40% two years ago. Near-term concerns, such as
inflation, heavily influence executives’ three-year plans, however
longer-term risks, such as cyber and climate, may not be getting
the necessary attention they deserve.
Building individual resilience is just as vital as enterprise
resilience, with four out of five (82%) employees concerned that
they will burn out this year. Redesigning work for employee
well-being is critical to mitigating this risk, with 51% of
high-growth companies (with revenue growth of 10% or more in 2023)
having already done so, compared to just 39% of their lower-growth
peers.
Employee experience is a top priority
Over half of executives (58%) worry that their company is not
doing enough to inspire workers to adopt new technologies, and
two-thirds (67%) of HR leaders shared concerns that they
implemented new technology solutions without transforming work.
Employee experience is HR’s top priority this year; a worthy focus
given thriving employees are 2.6 times more likely to say that
their employer designs work experiences that bring out their
best.
HR plays a critical role in making work better for all, but
there is an increased imperative for HR to work in tandem with risk
and digital leaders to usher in the necessary change at the pace
required. To meet organizational and employee expectations, 96% of
companies are planning some HR functional redesign this year,
focused on delivering across silos and leading digital ways of
working.
Investors value engaged workforces
This year, for the first time Mercer gathered input from asset
managers on how an organization’s talent strategy impacts their
investment decisions. Nearly nine out of ten (89%) see workforce
engagement as a key driver of company performance, and 84% consider
a “churn-and-burn” approach to be damaging to business value.
Investors also say that fostering a climate of trust and fairness
is the most important factor in building true, sustainable value
over the next five years.
Click here to learn more and download this year’s study.
About Mercer’s 2024 Global Talent Trends study
Currently in its ninth year, Mercer's Global Talent Trends
features insights from over 12,200 C-suite executives, HR leaders,
employees and investors across 17 geographies and 16 industries,
and the research highlights what leading organizations are doing
today to ensure long-term people sustainability. Organizations that
are further along on the journey are striding ahead in four areas.
(1) They recognize that human-centric productivity requires
attention to how work is evolving and the skills and motivations of
those doing the work. (2) They appreciate that trust is the true
dialogue of work, fortified through transparency and equitable work
practices. (3) As risks become more connected and less predictable,
they acknowledge that a new level of risk awareness and mitigation
is essential to building a ready and resilient workforce. (4) They
acknowledge that as work becomes more complex, it will be critical
to simplify, engage and inspire their workforce toward a
digitally-infused future.
About Mercer
Mercer believes in building brighter futures by redefining the
world of work, reshaping retirement and investment outcomes and
unlocking real health and well-being. Mercer’s approximately 25,000
employees are based in 43 countries and the firm operates in over
130 countries. Mercer is a business of Marsh McLennan (NYSE: MMC),
the world’s leading professional services firm in the areas of
risk, strategy and people, with more than 85,000 colleagues and
annual revenue of $23 billion. Through its market-leading
businesses including Marsh, Guy Carpenter and Oliver Wyman, Marsh
McLennan helps clients navigate an increasingly dynamic and complex
environment. For more information, visit mercer.com. Follow Mercer
on LinkedIn and X.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240306983927/en/
Media: Amelia Woltering Mercer +1 347.703.5358
Amelia.woltering@mmc.com
Grafico Azioni Marsh and McLennan Compa... (NYSE:MMC)
Storico
Da Mar 2024 a Apr 2024
Grafico Azioni Marsh and McLennan Compa... (NYSE:MMC)
Storico
Da Apr 2023 a Apr 2024