The new shape of work

In this episode, Gord Frost and Jess Von Bank dive deep into how AI is reshaping Total Rewards and HR, emphasizing that true transformation requires more than just technology—it demands a cultural and leadership mindset shift. They highlight the critical need for robust, well-managed data and strategic alignment with business goals to harness AI’s full potential. Listeners will gain practical insights on moving from enhancing existing processes to transforming workforce strategy through AI and automation.

https://www.mercer.com/insights/people-strategy/future-of-work/podcast-new-shape-of-work/

In this episode, Kate Bravery, Talent Advisory Leader, hosts a discussion with three Mercer experts, Will Self, Katerina Psychopaida and Sean Connelly, on managing costs in a challenging economic environment. They explore the importance of strategic, data-driven decision-making to uncover cost-saving opportunities without sacrificing employee experience or engagement. They emphasize the value of intentional cost containment strategies, such as optimizing vendor relationships, reducing organizational bloat, and leveraging AI and data science to enhance workforce planning and team composition. Additionally, they highlight the critical role of continuous, purposeful employee listening through innovative approaches like digital focus groups and passive data analysis, especially during turbulent times when traditional surveys may fall short.

Interesting moments

Cost vs. retention?
Many organizations are expressing the same concerns: the urgent need to cut costs while also focusing on attracting and retaining talent. By actively listening to employees and better understanding their needs, companies can reallocate resources more effectively. This approach can lead to cost savings and increased employee engagement.

Create psychological safety
In times of significant transformation, employees want to align themselves with a company they believe will be here for the long term. Therefore, increased transparency about how business fundamentals have shifted and openness about the challenges ahead can help foster trust. Involving the workforce in contributing to solutions can actually unite everyone.

Finding balance
The key question is: what combination of offerings are employees most appreciative of? It’s about evaluating the entire package and looking for areas where you can achieve significant savings while still maintaining, or even boosting, overall employee preference for the organization. This approach ensures that you’re better meeting employees’ needs, leading to a more engaged and satisfied workforce.

HR as an investment
We should all be advocating for a mindset shift within HR from viewing it as a cost center to recognizing it as an investment in our people assets. This shift is fundamental because it transforms the conversation into one focused on return on investment. If we start considering every HR initiative and program as an investment that yields a measurable financial return, we can begin to optimize our efforts more effectively. This is something that is often lacking in practice today.
https://www.mercer.com/insights/people-strategy/future-of-work/podcast-new-shape-of-work/

In this episode, Gordon Frost, Mercer’s Global Rewards Solution Leader, is joined by two colleagues, Peter Boreham, European Executive Compensation Practice Leader, and David Thieke, Head of US and Canada Executive Rewards Practice. They discuss the effects of current economic uncertainty and market volatility and how companies are adjusting their executive reward plans to keep pace with the rapidly changing business environment.  

Interesting moments:
Positioning exec comp
Companies are placing increased value and weighting on telling their compensation story. They are centered as much around the how and why for executive pay level and program designs as the quantum of how much the executives are paid.

Innovation in compensation
Many people think innovative executive compensation programs have the most bells and whistles. But sometimes what it means is a streamlined and targeted program fit to their situation.  

Regulatory impacts
We have binding votes on compensation policy where, every four years in the EU and three years in the UK, you get the policy approved. Once that's approved, you cannot go outside it without shareholder approval. That held down executive compensation.  

Global vs. local
Given their proximity to the US, some Canadian organizations are more attuned to practices and pay levels in the US. If they are going to recruit in this global talent market, they need to be a little bit more flexible. 
https://www.mercer.com/insights/people-strategy/future-of-work/podcast-new-shape-of-work/

In this episode, Kate Bravery, Global Leader of Talent Advisory at Mercer, is joined by Dr. Andrew Tay, Chief Wellbeing Officer at the National University of Singapore (NUS). They discuss the role of the Chief Wellbeing Officer and the evolving mental health challenges faced by NUS students, including insights into the value of in-person collaboration. Additionally, they explore the implications of these challenges for businesses concerning the next generation of talent emerging from universities.

Interesting moments:
Who owns well-being
At the end of it all well-being is a whole organization approach. It is not a HR problem. It is not a manager problem. It's not a CEO problem. It’s everybody's problem, everybody has a role to play.

Value of in-person work
When students learn remotely their risk of developing self-esteem issues increases. Think of your remote work policies. The in-office arrangement allows the community to connect socially, improve connectivity and reduce isolation.

Psychological safety
We started to track the concept of incivility. Those teams with a low incivility score were more likely to have higher psychological safety. What does that mean? It means you need to manage the behavior of your colleagues. You cannot tolerate remarks aimed at hurting people.

Anticipating workforce needs
We are training the next batch of our workforce who will be entering into your workplace. It is important for HR to anticipate the kind of issues that young people are facing before they enter the workforce and the kind of support that can help them thrive.

https://www.mercer.com/insights/people-strategy/future-of-work/podcast-new-shape-of-work/

Kate Bravery, Global Leader of Talent Advisory at Mercer, is joined by Ravin Jesuthasan, Mercer’s Global Transformation Leader, and Tanuj Kapilashrami, Chief Strategy and People Officer at Standard Chartered Bank, to discuss The Skills-Powered Organization: The Journey to the Next-Generation Enterprise, their recently released book.

Together, they explore the concept of skills-powered organizations and their transformative potential in the workplace. They discuss the shift from traditional job structures to a focus on skills as the currency of work and highlight the need for organizations to adopt a systemic approach to talent management that aligns with business strategy. Tanuj shares insights from her experience at Standard Chartered Bank, detailing how they integrated skills development into their growth agenda and engaged employees in the transformation process. Ravin stresses the importance of understanding the economic implications of skills-powered practices and the need for organizations to be agile in responding to changing work demands.