Employers uncertainty shifts focus to workforce

A new study by Mercer claims the COVID-19 pandemic and subsequent uncertainty are accelerating changes in the way organisations around the world are working and will continue to work into the future. Particularly in challenging times, employers are focusing on their workforce, specifically fostering healthy lifestyles, supporting financial wellness and providing skills and training as careers change due to AI and technology developments.

The reasoning is clear claims Mercer’s 2020 Global Talent Trends study, 34 percent of employees expect their jobs to be replaced in three years, 61 percent of employees believe their employers are preparing them for the future of work and 55 percent trust their organisation to reskill them if their job changes as a result of automation.

As employers transform to tackle these matters, they should reconsider their company’s purpose and their responsibilities to employees and employees’ future earnings, since 63 percent of HR leaders predict stagnant wage growth. And, they need to do so while facing unforeseen challenges like COVID-19 and a likely economic softening that could impact the adoption of new workforce strategies.

Focus on Futures

Work together to ensure people thrive now and in the future. With a new mandate for business, 85 percent of executives agree that the organisation’s purpose should extend beyond shareholder primacy, yet only 35 percent of companies deliver on this today.

Work together to ensure people thrive now and in the future.

Meanwhile, one in three employees say they would prefer to work for an employer that shows responsibility towards all stakeholders, beyond just shareholders and investors. Furthermore, much of an organisation’s success depends on whether it can support its talent to grow and shape a sustainable business. This is on the executive agenda – with 68 percent wanting to focus more on environmental, social and governance (ESG) goals. While 61 percent of employees trust their employer to prepare them for the future of work, 63 percent feel at risk of burnout.