Mercer’s 2024 People Risk report examines the key workforce threats facing employers according to five pillars of risk – technological change and disruption; talent, leadership and workforce practices; health, well-being and safety; governance, compliance and financial; and environment, sustainability and protection – and assesses the impact they can have on an organisation as well as recommending practical approaches to addressing critical risks.
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Global Dynamic & Politics
Mercer’s People Risk in the UK 2024 report highlights three key topics that are having a significant impact on the risk landscape for organisations: changing legislation and scrutiny, mental health deterioration, and talent and labour shortages. The report explores the actions that businesses can take to both mitigate people risks and take advantage of the opportunities these emerging themes present.
PwC’s latest report analyses data from more than half a billion job ads across 15 countries together comprising 30% of the global GDP, finding that productivity growth was almost 5 times as rapid in sectors of the global economy that are most exposed to AI, and employers are willing to pay up to a 25% wage premium for workers with specialist AI skills.
McKinsey’s new report reveals that by 2030, Europe could require up to 12 million occupational transitions – double the pre-pandemic pace – to gain the full productivity benefits of generative AI and other technologies. The research reveals that up to 30% of current hours worked could be automated and accelerated by generative AI and suggests four priorities for business leaders to ensure successful deployment of automation technologies at a company level.
New research commissioned by Microsoft suggests the UK could make £550bn by 2035 with the adoption of AI and cloud technology. The report reveals that the UK has the most advanced tech sector in Europe and is second behind only the US in its ability to take advantage of AI, however could be held back from achieving its full potential by three core bottlenecks: (1) lack of basic infrastructure needed to enable the build of datacentres; (2) companies are still unaware of the potential benefits to their business from greater use of more digital technology; and (3) shortages of digital skills.
The 2024 Annual Work Trend Index by Microsoft, in collaboration with LinkedIn, surveyed 31,000 people across 31 countries, revealing that the use of generative AI has nearly doubled in the last six months, with 75% of global knowledge workers using it. And employees, struggling under the pace and volume of work, are bringing their own AI to work (BYOAI). With the labour market set to shift, the report explores the major role AI will play in this.
This report from the Josh Bersin Company introduces the concept of “enterprise talent intelligence” and explores how organisations can integrate AI technologies and leverage talent intelligence across their HR functions – from recruitment and workforce development to strategic planning and organisation growth. The report presents seven key use cases for enterprise talent intelligence, highlighting its role in skills-based HR, employee development, internal mobility, strategic workforce planning, leadership assessment and development, organisation design and pay equity.
The latest EURES report reveals a tightening labour landscape across Europe. Despite a backdrop of slower economic growth, companies are engaged in fierce competition for talent that is willing and able to fill roles at locations where demand is high, with this phenomenon being particularly pronounced in sectors such as construction, engineering, healthcare, and ICT. The report attributes this to the following key factors: (1) structural shifts, driven by digitalisation and the imperative of transitioning to more sustainable practices which are reshaping skill demands; (2) demographic shifts and evolving societal norms; and (3) unattractive working conditions and mismatches between jobseekers’ preferences and employers’ offerings.
This white paper from the World Economic Forum explores how global digital jobs can alleviate labour shortages and connect skilled workers from regions with surplus to those with labour shortages. The research identifies key challenges – technological infrastructure, policies and perceptions, and workforce skills – and offers strategies to overcome these barriers, including public-private partnerships and technology investments. Additionally, it outlines risks such as technology malfunctions and work conditions, proposing solutions to facilitate a sustainable global digital job market.
New research by the Work Foundation reveals that a record 1.1 million working age people are on zero-hours contracts in the UK as their main form of employment, with women, black workers and younger workers being significantly more likely to be on zero-hour contracts than their counterparts. The policy brief investigates the contemporary use of zero-hour contracts in the UK and examines policy options for reform from comparable countries, with a particular focus on how to introduce regulation in a way that extends contractual security and guaranteed hours while maintaining opportunities for flexibility.