More than half (53 per cent) of employers plan extensive organisational transformation in the next two years; according to the ‘Technology Change is Business’ report from the Reward & Employee Benefits Association and Mercer Marsh Benefits.
According to the report, many employers recognise the importance of ensuring their workforce has the necessary skills to successfully build long-term organisations. More than half (53 per cent) have already brought in key talent to drive this change, with the remaining 41 per cent planning to do so in the coming years.
The study shows how digital technology and automation are set to transform business models and operations over the next two years, with nearly half (47 per cent) of respondents expecting automation to change day-to-day tasks for the workforce. A similar proportion (48 per cent) intends to develop more digital products and services, and roughly one-third (31 per cent) intends to attract and hire key talent to drive the digital transformation. 30 per cent intend to increase their use of AI in the workplace, creating opportunities for employees willing to reskill. In terms of physical workplaces and premises, 40 per cent intend to reduce their use, while nearly half (49 per cent) intend to increase employee flexibility around when they work.
According to the research, most businesses recognise that business transformation must be accompanied by new thinking on how to meet workforce needs. To that end, more than half (53 per cent) of respondents intend to increase their emphasis on upskilling and reskilling, the initiative most likely to yield a return on investment. In terms of pay and benefits, 62 per cent intend to align their benefits offerings to reflect their workforce’s changing needs, 58 per cent intend to increase the use of data analytics to inform future benefits strategies, and 49 per cent intend to make benefit offerings more digital. To address mental health issues caused by factors such as digital overload and excessive online meetings. Almost half of the respondents (48 per cent) intend to use wellbeing strategies to drive culture, with 45 per cent focusing on improving digital wellbeing.
Mercer partner and head of workforce transformation UK Lisa Lyons says: “Employees are now overloaded with a variety of new technology and initiatives. These changes combined with huge organisational shifts put pressure on pay, meaning the job market for high-demand skills is hotting up. Employers are keen to hold onto people prepared to adapt and transform their current skill set to meet new digital needs. However, to help employees adapt, employers need to put in place support as well as strategies to reskill.”
Reward & Employee Benefits Association director Debi O’Donovan said: “How people carry out tasks, as well as what tasks they do when working, is undergoing a revolution as we move from talking digital to living digital. HR teams need to map out, source and mobilise employee capabilities while rethinking how roles are designed to ensure that leaders have the right people in their business to meet these new digital challenges. This can only be achieved by creating workplace cultures that engage and care for the people who work there.”
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