According to HR consulting firm Mercer’s 2019 Global Talent Trendsstudy, nearly all (94%) of executives in Singapore predict significant disruption in the next three years, compared to 25% 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 less than half of executives rate their company’s ability to mitigate human capital risks as very effective.
“Over the last few years, organizations 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 Singapore joined, and stay at, their company. Yet, one in two 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 three times as likely to describe their role as “relationship focused” and twice as likely to describe 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 personalize the experience,” said Kate Bravery, Career Global Solutions Leader at Mercer.
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.