This roundtable discussion looked at the shifting demographics and how employers are navigating multi-generational workforces.
This report from the IMF explores how fiscal policies can be employed to steer generative AI and its deployment in ways that serve humanity best while cushioning the negative labour market and distributional effects to broaden the gains. Given the vast uncertainty about the nature, impact, and speed of developments in generative AI, the report calls on governments to take an agile approach that prepares them for both business as usual and highly disruptive scenarios.
BCG’s latest Decoding Global Talent report explores five key questions to understand what workers care about and how employers can meet the evolving expectations of the workforce to gain a critical advantage in attracting and retaining talent in a highly mobile labour market. The research reveals that what matters at work is shifting, with job security emerging as the number one work priority for the first time since 2014. This is attributed to workers’ concerns about their long-term employability, finding a connection between a desire for job security and increased awareness of technological disruption. With GenAI affecting diverse workforces and impacting not just repetitive tasks but also creative and conceptual work, other attributes such as opportunities for learning and career development, financial compensation, and other benefits have also risen in the rankings.
Gallup’s latest report estimates that low employee engagement costs the global economy US$8.9 trillion, or 9% of global GDP and examines what leaders can do to improve the health and productivity of the world’s workforce. The report explores the relationship between employee engagement and a range of key business outcomes, finding that high-engagement business units are likely to see significantly higher employee wellbeing – as well as higher productivity, profitability and sales – than low-engagement teams.
The World Economic Forum’s latest Global Gender Gap Index benchmarks gender parity across 146 countries, revealing that while no country has achieved full gender parity, 97% of economies have closed more than 60% of their gap, compared to 85% in 2006. However, compared against last year, the global gender gap has been closed by +.1 percentage point, from 68.5% to 68.6%. The report suggests that the lack of meaningful, widespread change effectively slows down the rate of progress to attain parity. Based on current data, it will take 134 years to reach full parity – roughly five generations beyond the 2030 Sustainable Development Goal (SDG) target.
This roundtable discussion looked at the opportunities ERGs present, the evolving issues and challenges, and strategies to overcome them.
A new global survey of desk workers by Slack’s Workforce Lab finds that two-thirds of workers have still not tried AI tools and 93% do not consider AI outputs completely trustworthy for work-related tasks. The research reveals an AI gender gap emerging, which is the largest among Gen Z. While young people are the most likely to have experimented with AI tools, Gen Z men are 25% more likely to have tried AI tools compared to Gen Z women. The study sets out the PET plan – permission, education, and training – for leaders to encourage greater uptake in workplace AI.
McKinsey's 2024 Global Survey on AI reveals that 65% of respondents report that their organisations are regularly using gen AI, nearly double the percentage from last year's survey. The research reveals that organisations are already seeing material benefits from gen AI use, reporting both cost decreases and revenue jumps in the business units deploying the technology. The survey provides insights into the risks presented by gen AI - most notably, inaccuracy - as well as the emerging practices of top performers to mitigate those challenges and capture value.
This report from the International Labour Organisation reveals that despite strong economic growth and steady improvements in some key labour market indicators over several decades, progess in several crucial dimensions of decent work is too slow. The data also shows that the region's employment-to-population ratio is in long-term decline, projected to continue over the coming years and the region's jobs gap, which shows the total unmet need for employment, amounted to 164 million in 2023. In addition, the region is projected to have one of the world's most ageing populations. The report suggests that implementing policies that address decent work deficits will not only alleviate existing challenges but will also render upcoming challenges from ageing more manageable.
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.