Win with empathy: Collective responsibility, diversity & flexibility top priorities for US organizations in 2021, according t...
09 2월 2021 - 11:39PM
Business Wire
The COVID-19 pandemic, volatile economic implications, and
protests against racial injustice are accelerating changes in the
ways organizations in the US are working and investing in their
employees. According to Mercer’s 2021 Global Talent Trends Study,
American business leaders have shifted expectations to take a more
expansive view about an organization’s responsibilities to
communities as a whole, extending success metrics beyond
shareholder return and placing individual and societal well-being
at its core.
Prioritizing collective responsibility
Empathizing and delivering on the needs of a broader range of
stakeholders became a key trend that emerged in 2020 – and is
likely to persist. Many US employers stepped up in 2020 to protect
jobs and pay during business closures, support caregivers and
provide sick leave. As a result, two in five American companies
today say managing inclusively with empathy has become more
critical for future resilience.
“We’re being challenged to rethink our individual and shared
responsibilities to one another, to the institutions we work for,
and to the societies and environments we live in. Contributing to
collective responsibility will require businesses to balance
purpose with profit to evolve as businesses that are more
resilient, and ultimately more profitable,” said Mary Ann Sardone,
US Talent Solutions Leader at Mercer.
Gregg Passin, US Executive Solutions Leader at Mercer added,
“Sustainable businesses have sustainable goals that factor in a
multi-stakeholder approach. Tying ESG goals to the business’ core
value proposition and embedding ESG metrics into executive
scorecards are just two of the approaches we see US companies
pursuing in 2021 to drive action. In fact, organizations that
integrate ESG metrics into the CEO’s agenda are more likely to
report high revenue growth.”
- 60% of US HR leaders say their company has continued or stepped
up the pace towards an ESG and multi-stakeholder business
approach.
- With COVID-19 revealing that not everyone’s future is equal,
55% of companies in the US are reexamining what is most relevant to
different persona groups, signaling a shift towards greater
personalization of inclusive benefits.
- The biggest opportunity in sustainability strategies? To
rethink how investments such as retirement portfolios can be
directed toward sustainability — something just 8% of US companies
do today.
Championing diversity and flexibility in all forms
While advancing diversity, equity and inclusion (DEI) is hardly
a new idea, the explosion of concerns spurred by racial violence
and the Black Lives Matter movement has increased the urgency for
improved analytics and understanding of employee needs when
redesigning the workforce. Accountability and action on improving
gender, race and wealth gaps will be front and center in 2021, and
organizations in the US will invest more in DEI analytics and
insights.
“With a focus on diversity comes the need for reinventing
personalized and flexible solutions at work. This requires us to
rethink flexibility as a whole: flexibility in policies, practices
and benefits that will enable organizations to support people in
their life and careers and deliver a better overall employee
experience (EX).
“Given the experience of remote working and the need to adjust
capacity swiftly in 2020, it’s no surprise that 2021 US
transformation plans are concentrated on reinventing flexibility in
all its guises (48%), followed by expanding their talent and
learning ecosystem (43%), and upskilling/reskilling toward critical
talent pools (40%),” added Sardone.
Recent events have also increased the urgency for improved
health and well-being benefits when redesigning the workforce. Kate
Brown, Center for Health Innovation Leader at Mercer noted,
“Particularly in the US, health and well-being benefit offerings
have become a key differentiator for companies. Virtual access to
healthcare, for example, has been accelerated by COVID-19 and is no
longer an afterthought with over half (56%) of US companies
planning to offer more access to remote health and benefit options,
compared to 47% of their global peers.”
- While reskilling toward critical talent pools is a priority in
US transformation plans (40%), only 28% of companies are gathering
information on individuals’ current skills, and fewer (9%) said
they’ve implemented skills-based talent strategies.
- Nearly half (45%) of US companies say they plan to improve
analytics on pay equity in the year ahead.
- 58% of US companies have set up a DEI council or taskforce to
promote inclusivity.
- There is much room for improvement. As US HR leaders map out
future workforce strategies, only 16% are taking into account the
impact of 2020’s transformation or rightsizing plans on various
minority groups, and just 15% are considering the pandemic’s impact
on these populations.
The path forward
In order to accelerate progress on these trends, organizations
will need to consider several key priorities. Namely, developing a
sustainability strategy, establishing clear organizational
ownership of skills, committing to diversity, equity and inclusion
goals and outcomes, making flexible working a promise and a
practice, and prioritizing health and well-being.
“Going forward, people, processes, and technology initiatives
will directly support business growth. HR leaders will need to act
as strategic advisors on the people impacts of tough business
decisions, while at the same time address employee concerns in a
compassionate and transparent manner. Leading with empathy and
enabling your organization to benefit from the wealth of diverse
perspectives and ideas will make the year ahead one of productive
recovery and reinvention,” added Sardone.
About Global Talent Trends study
The sixth edition of Mercer’s Global Talent Trends (2021) study
shares insights from over 7,300 senior business executives, HR
leaders and employees and, for the first time, has deep dive
Companion Reports for 23 geographies, spanning 44 countries. To
download the Global report, visit here. In conjunction, the Global
Talent Trends 2020–2021 Local Companion Report – US edition shares
insights from 163 US HR leaders to uncover their priorities for the
year ahead. To download the US edition, visit here.
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 more
than 25,000 employees are based in 44 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 76,000
colleagues and annual revenue of over $17 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
www.mercer.com. Follow Mercer on Twitter @Mercer.
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Micaela McPadden +1 201 694 9719
micaela.mcpadden@mercer.com
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