April Edition: People risks, climate transition investing, and our global mobility conference

Mercer News & Notes returns to bring you more insights, research, and bold ideas for April.

Investing in people, protecting businesses

People are the most important asset to most businesses, but employers often overlook the risks that could undermine their workforce and, as a result, their business. From rising health and benefits costs to labor shortages and cyber security, there is a wide range of threats that could challenge business resilience and disrupt operations, and it’s vital that employers proactively manage these risks as they plan for the years ahead.

But in order to manage risks, organizations must first understand where they lie. With input from over 4,500 HR and risk professionals across 26 countries, Mercer Marsh Benefit’s new People Risk 2024 research reveals the top concerns of organizations around the world as they look to secure their future. Although results vary by region, we’ve identified five pillars shaping people risks this year:

1. Technological change and disruption: Technology is forging new jobs, delivery channels and products, but it is also introducing new risks and deepening existing ones.
2. Talent, leadership and workforce practices: Organizations can only remain competitive if they can recruit and develop the right skills, talent and leadership. However, equally as important is ensuring employees’ needs are met in order to promote wellbeing and productivity.
3. Health, well-being and safety: Employee health and safety is a staple of any people risk agenda, but organizations must broaden the scope of how they define well-being at work.
4. Governance, compliance and financial: As inflationary pressures on benefit costs persist, organizations must plan for changes to their benefit programs now. Managing underlying risks and keeping focus on ensuring employees remain well can help to manage claims costs.
5. Environment, sustainability and protection: Environmental risks have traditionally been interpreted as related to property, but the potentially catastrophic impact of extreme weather events and natural disasters on the health and well-being of employees and their families is an imminent threat.

Within these risk pillars, future-minded HR and risk professionals can dive into specific threats to their business to understand the impact it has on their organization, and uncover practical approaches to addressing critical risks today and tomorrow.

Is your portfolio positioned for climate transition?

The COP28 climate conference witnessed an important symbolic move towards a low-carbon future. But following this historic conference in which nearly 200 nations pledged to transition "away from fossil fuels" with the aim for net-zero emissions by 2050, many investors are left asking, “What’s next?”

While markets have been volatile in recent years due to geopolitical events, we’ve found that the climate transition continues to gather momentum, and three key emerging trends portend further optimism:

1. The improving outlook within the renewables sector
2. The falling cost of clean energy technology
3. The growth in the electric vehicles segment, which is creating spillover effects

Riding these trends, we see evidence that progress towards the climate transition continues in the face of short-term volatility and political uncertainty, and that despite its many challenges, the momentum that the transition has built to date remains robust. Read our full State of Transition paper to learn more, including three transition trends for investors to consider.

Unlocking the power of talent mobility

How can organizations adapt and innovate at scale in a world characterized by constant change and uncertainty? As employee expectations evolve and technology like AI becomes embedded into how we work, talent mobility professionals are being forced to reassess their approaches and explore new opportunities to create a more seamless and rewarding journey for their mobile workforce.

At our upcoming Talent Mobility Conference in Seville, Spain, world-renowned speakers and experts will share their knowledge and insights through case studies that help navigate the complexities of talent mobility. Join HR professionals from across Europe and around the world to learn, network and engage in discussions about the emerging horizons of talent management, including:

• The impact of AI on talent mobility management
• The evolution of the mobility function in the new world of work
• The evolution of reward and mobility packages
• Work from Anywhere: practical application
• Flexibility and employee experience
• Future trends and innovations in talent mobility

This month we’re travelling to the Twin Cities to introduce Ryan Malkes , Mercer’s Head of Generative AI Services for North America. With extensive experience in organizational change management and leaning, Ryan is a sought-after workforce experience advisor and digital HR strategist who helps organizations enhance their workforce experience.  

In his current role with Mercer, Ryan has the opportunity to help organizations infuse generative AI into the world of work. He frequently partners with functions, like HR, to embrace this new technology with the goal of automating repetitive tasks, augmenting individual capabilities and to amplify the value these teams bring to the business. He focuses on using generative AI as a way to unlock the potential of our people.

Outside of work, Ryan enjoys being a father above all else. He finds joy and serenity in pursuing hobbies where he has the chance to work with his hands. This frequently ends up being small house projects where he has the opportunity to learn a new skill and create something in the process.

Are you already connected with Ryan? If not, check out his profile, follow, and connect with him to keep up with the latest news, work and thought leadership from Ryan.

And that’s all we have for this edition of Mercer News & Notes newsletter! We hope you’ll join us again next month as we continue to bring the latest insights directly to you, and please share any thoughts or recommendations on topics you’d like to see in our next issue in the comments below.  👇

Don’t forget to follow Mercer on LinkedIn for the latest insights and points of views on all things future of work, and feel free to reach out if you’d like to hear more about any of the topics discussed today!

The information contained in this document is provided for informational and educational purposes only. It should not be relied upon as investment advice or an offer or solicitation. The information represents the views and opinions of the author(s) regarding the economic conditions or financial instruments referenced herein. The opinions expressed are subject to change without notice. 

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