According to MercerMarshBenefits’ The Five Pillars People Risk study cybersecurity, talent attraction, retention and engagement, data privacy and workforce exhaustion are the top threats facing organisations. For instance, financial institutions highlight talent attraction, retention and engagement, workforce exhaustion, cybersecurity, deteriorating mental health and skills obsolescence as the top five risks facing the industry. However, by allocating skilled resources to help understand and address risks, an engaged and involved senior leadership team and the necessary budget can help turn challenges to opportunities. Grab a copy of the infographic here for further details on the five pillars of risks facing organisations.
The COVID-19 pandemic has been a catalyst for most companies to rethink their HR strategies. Studies, such as Mercer’s Global Talent Trends, continue to provide trends and actionable insights to address talent practices that accelerate the skills agenda, prioritise employee wellbeing as it affects engagement and improve the employee experience, and embed environmental social governance (ESG) in your workforce strategy.
Similarly, global mobility programmes are experiencing an evolution from traditional models to more resilient and agile model, as HR strategies adapt in the face of the COVID-19 pandemic. At a recent webinar, our local team of mobility experts sparked new thinking to address the complexities most companies face.
Over this period, we’ve seen that companies that continue to put people at the heart of their business gain competitive advantage. They have been able to turn challenges into opportunities. More than ever, now is the time to accelerate the HR agenda to help build business resilience, improve productivity and deliver better outcomes through relevant HR strategies.