Executives’ plans for redesigning their organizations to compete
in a digital age do not effectively fold HR into the strategic
process
HR leaders juggling gap between demanding C-suite and employee
expectations in a rapidly changing workplace
As the competition for talent continues to rise and business
models are disrupted by technology and socio-demographic shifts,
organizations are still taking an evolutionary approach to their
talent strategies in the face of revolutionary changes. According
to Mercer’s 2017 Global Talent Trends Study, the majority (93%) of
organizations worldwide report they are planning to redesign their
structure in the next two years, yet only 4% of business executives
say their organization is “change agile.”
“In an age where digitization, robotics, and AI are wreaking
havoc with traditional business models, it is easy for executives
to focus on superior technology as the solution to ensuring the
competitiveness of their organizations and to overlook the human
element,” said Ilya Bonic, President of Mercer’s Career business.
“Growth rests on engaging and empowering today’s workforce in ways
that we are just beginning to uncover. It takes employees armed
with the right skills and opportunities to develop innovative
solutions to advance the business and themselves.”
Mercer’s study shares insights from over 7,000 perspectives and
compares the views of senior business executives, HR leaders, and
employees from organizations around the world. The report assesses
significant gaps in alignment, identifies several critical
disconnects concerning change, and makes recommendations to capture
growth.
Most notably, despite organizations’ plans to transform, HR
leaders do not have organization or job redesign on their list of
priorities for 2017. In fact, the top priorities of HR leaders –
specifically attracting top talent externally, developing leaders
for succession, identifying high potentials, and building skills
across the workforce – reflect the priority of evolving employee
capabilities, but may not align with executive’s goals for more
substantial workplace change.
Additionally, while HR leaders express confidence in the talent
management processes they have in place (70%), employees are still
looking elsewhere for new opportunities. Slightly more than
one-third (34%) of employees say they plan to leave their current
role in the next 12 months, even though they are satisfied in their
jobs. Equally concerning is that those employees not planning to
leave their current roles report they are less “energized” in terms
of bringing their authentic selves to work and therefore less
likely to thrive in a collaborative and innovative workplace.
Moreover, business executives view talent scarcity more acutely
than HR professionals, with 43% expecting a significant increase in
competition compared to 34%, respectively.
“Organizations need to prioritize a culture of agility to stay
ahead of rapidly changing market trends,” said Kate Bravery, Global
Leader for Mercer’s Career business. “Those employers that empower
their workforce – by helping them plan for the unknown, mitigate
risk, and thrive at work – will be more successful in building a
responsive and successful organization.”
What is not on the HR agenda for 2017 demonstrates misalignment
and perhaps missed opportunities to leverage what employees report
as important:
Health over Wealth – Despite 61% of employees globally
ranking their health as more important than their wealth or career,
and 47% indicating they expect their workplace to become more
focused on employee health in the next few years, health and
wellbeing ranked second to last on HR leaders’ list of top talent
management priorities this year. “Navigating the changing talent
ecosystem by redesigning future roles and supporting employees’
health and wealth needs is already becoming a market
differentiator,” said Mr. Bonic.
Wealth over Career – While nearly all (97%) of employees
reported that they want to be recognized and rewarded for
contributions beyond the organization’s financial results and
activity metrics, just more than half (51%) think their company
does this well. Furthermore, fair and competitive compensation
ranked at the top when asked what would make a positive impact on
their work situation, yet rewards ranked near the bottom of
priorities for HR leaders.
Gig Is Big – Flexible work arrangements are important to
employees, with more than half reporting that both their direct
manager and company leaders are supportive of it (61% and 57%,
respectively). Nevertheless, 50% of employees believe working
remotely or part-time can adversely impact promotional
opportunities. And while more than three-quarters (77%) of
full-time employees would consider working on a contingent or
contract basis, neither business executives nor HR leaders have
embraced these new forms of employment as much as expected or
desired. Both the C-suite and HR leaders agree that they do not
expect the “gig economy” to have a major impact on their business
in the next two years. “It’s a risk for any organization to ignore
opportunities for people to work more independently,” said Ms.
Bravery. “Those companies that find ways to leverage a more fluid
workforce will harness growth and outpace the competition.”
A Relevant Experience – Beyond flexibility,
personalization is essential for creating an experience that
resonates with employees. Less than half (49%) of employees say
that their company understands their unique interests and skills,
while 53% want their company to increase this understanding and
help them invest in themselves. “Employees are increasingly
bringing a consumer expectation to the workplace since it is how
they engage in almost every aspect of their lives,” said Ms.
Bravery. “It creates an authentic environment in which employees
can excel. When done right, it does not feel like personalization –
it just feels like a great experience.”
Digital Divide – Aspects of technology also show HR is
lagging expectations of both executive leadership and employees.
Business executives (61%) believe technology at work, including
automation, robotics, machine learning, and wearables, is the
workforce trend likely to have the most impact on their
organizations in the next two years. Yet, less than half (49%) of
HR professionals agree. For employees, it is even more basic: just
one in five organizations in Mercer’s study provide a digital
experience for interacting with HR.
“Despite the desire to cling to more traditional methods, the
landscape for the workplace, the workforce, and the future of work
are changing too quickly and drastically to do so,” said Ms.
Bravery. “To stay competitive, it is imperative that business
executives and HR leaders collaborate and that organizations take
new approaches to how employees access knowledge, adapt to
technology, manage, communicate, and leverage their careers.”
Mercer’s 2017 Global Talent Trends Study, which examines the top
trends impacting today’s workforce and how organizations are
responding, uncovered four trends that are shaping the outlook for
this year: Growth by design: The C-suite’s change agenda to drive
growth, The quest for insight: analytics will be a key player in
winning the war for talent, A shift in what we value: Recognizing
what matters most to employees, and A workplace for me: Continued
focus on personalization and flexibility. The study is based on the
input of more than 1,700 HR professionals, 5,400 employees, and 400
business executives from 37 countries and 20 industry sectors.
For more information or to request the full report, visit
http://www.mercer.com/our-thinking/global-talent-hr-trends.html.
About Mercer
Mercer is a global consulting leader in talent, health,
retirement and investments. Mercer helps clients around the world
advance the health, wealth and careers of their most vital asset –
their people. Mercer’s more than 20,000 employees are based in 43
countries and the firm operates in over 140 countries. Mercer is a
wholly owned subsidiary of Marsh & McLennan Companies
(NYSE:MMC), a global professional services firm offering clients
advice and solutions in the areas of risk, strategy and people.
With annual revenue of $13 billion and 60,000 colleagues worldwide,
Marsh & McLennan Companies is also the parent company of Marsh,
a leader in insurance broking and risk management; Guy Carpenter, a
leader in providing risk and reinsurance intermediary services; and
Oliver Wyman, a leader in management consulting. For more
information, visit www.mercer.com. Follow Mercer on Twitter
@Mercer.
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MercerStacy Bronstein,
215-982-8025Stacy.Bronstein@mercer.com
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