Mercer’s 2019 Global Talent Trends
27 2월 2019 - 2:00AM
Business Wire
- Executives predicting significant
disruption jumps 76 percentage points within 12 months
- One in three employees concerned that
AI and automation will replace their jobs
- More than half of companies in Hong
Kong plan to automate more work in next 12 months
- Mercer’s 2019 Global Talent Trends
study identifies four top trends shaping the future of work
According to Mercer’s 2019 Global Talent Trends study, four in
five (82%) executives in Hong Kong predict significant disruption
in the next three years, compared to just 6% in 2018. As executives
focus on making their organizations “future-fit”, significant human
capital risks – including the ability to close the skills gap and
overcome employee change fatigue – can impede transformation
progress. Addressing these concerns is paramount, given that only
one in three executives rate their company’s ability to mitigate
human capital risks as very effective.
“Over the last few years, organisations have moved from
anticipation to action in preparing for the future of work. But
they risk bewildering people with too much change, ignoring the
values individuals admire, and inundating them with endless
process,” said Ilya Bonic, President of Mercer’s Career
business.
In today’s climate of uncertainty, employees seek stability.
Mercer’s study finds that job security is one of the top three
reasons employees in Hong Kong join, and also stay at, their
company. Yet, one in three employees are concerned that AI and
automation will replace their job. The way to help employees feel
secure is to foster human connections. Thriving employees (those
prospering in the areas of health, wealth, and career) are twice as
likely to describe their role as “relationship focused” and their
work environment as “collaborative.”
“The future of work is about connectivity, creating a work
environment that appeals to today’s workforce by building a
coherent sense of identity, sparking connections, and using data to
tailor the experience,” said Darryl Parrant, Mercer Hong Kong’s
Career Business Leader.
“Personalisation of work is about moving to integrated platforms
with multiple devices that offer individual empowerment. This,
however, requires a self-service mindset among employees. We are
working with a number of high-growth companies in Hong Kong to
shape a people agenda that fosters a more proactive approach to
development,” he continued.
Mercer’s study identifies four top trends that leading companies
are pursuing in 2019: Aligning Work to Future Value, Building Brand
Resonance, Curating the Work Experience, and Delivering Talent-led
Change.
Aligning Work to Future Value. AI and automation continue
to transform the competitive landscape – 54% of companies in Hong
Kong plan to automate more work in the next 12 months. At the same
time, the C-suite names job redesign as one of the top five areas
of talent investment with sizeable potential for return on
investment, and 67% of employees prefer more clearly defined
responsibilities. The challenge for HR is to build an integrated
people strategy (an approach deployed two times more frequently by
high-growth companies) and leverage the right talent analytics to
inform decisions on the future size and shape of the organisation –
yet only two in five companies have good insights into the business
impact of their buy, build, borrow, and automate strategies. “The
key is aligning jobs and people to where value is being created,
and enabling a mechanism to reward future-fit skills and
behaviours,” said Mr Parrant.
Building Brand Resonance. What matters to employees and
job seekers is the way a company conducts business and upholds the
values of its brand. In a social, transparent world, the lines are
blurring between a company’s consumer brand and its talent value
proposition (TVP). Successful companies ensure that their brand
resonates with all workforce segments – 58% of high-growth
organisations in Hong Kong differentiate their TVP to different
groups (such as contingent workers), compared to 30% of
modest-growth companies. An organisation’s total rewards philosophy
is one area where brand values can shine: Thriving employees are
three times more likely to work for a company that ensures equity
in pay and promotion decisions (82% vs. 26%).
Curating the Work Experience. An effective and relevant
day-to-day work experience is essential for retaining top talent.
According to Mercer’s study, thriving employees in Hong Kong are
two times more likely to work for an organisation that enables
quick decision-making (87% vs. 38%) and that provides tools and
resources for them to do their job efficiently (85% vs. 38%).
Personalised and simplified professional development plans are an
ask from employees – more than half (51%) of employees want curated
learning to help them evolve their skills and prepare for future
jobs. Technology plays a critical role here, but currently
companies in Hong Kong still see themselves as being on the journey
to becoming a digital organisation, with 52% saying they still have
a long way to go.
Delivering Talent-led Change. To ensure talent is at the
centre of change, HR should have a voice in business
transformation. This year’s study found 56% of HR leaders in Hong
Kong are involved in planning the rollout of major change projects
and the same number involved in executing those plans. But, only
one-quarter of HR leaders participated in the idea generation stage
of transformation initiatives. HR sees employee morale as a
significant barrier to making changes stick: “Employee attrition”
and a “decline in employee trust” are two of the top five
challenges in the year ahead. “These findings point to the need for
transformation efforts to focus on people-centered design and
better talent metrics to understand how people are experiencing and
embracing change,” said Mr. Bonic.
Mercer’s 2019 Global Talent Trends study shares insights from
over 7,300 senior business executives, HR leaders, and employees
from nine key industries and 16 geographies around the world. To
download the report, visit
https://www.mercer.com/global-talent-trends.
About MercerMercer delivers advice and technology-driven
solutions that help organizations meet the health, wealth and
career needs of a changing workforce. Mercer’s more than 23,000
employees are based in 44 countries and the firm operates in over
130 countries. Mercer is a wholly owned subsidiary of Marsh &
McLennan Companies (NYSE: MMC), the leading global professional
services firm in the areas of risk, strategy and people. With
nearly 65,000 colleagues and annual revenue over $14 billion,
through its market-leading companies including Marsh, Guy Carpenter
and Oliver Wyman, Marsh & McLennan helps clients navigate an
increasingly dynamic and complex environment. For more information,
visit www.mercer.com. Follow Mercer on Twitter @Mercer.
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Darryl Parrant+852 93023109darryl.parrant@mercer.com
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