Organizations are realizing that they must think expansively about Industry 4.0 and how we can build and lead a workforce that will work differently, longer and with complex needs.
Mercer uncovered the financial disruption of the Fourth Industrial Revolution for the workforce of the future—where living and working longer collides with greater workplace flexibility and uncertainty - at our Change Challenge breakfast event at the World Economic Forum’s annual meeting in Davos on January 23.
Economists call it a mystery — a puzzle for our time. Why do wages in most developed countries remain stagnant while companies report record profits, unemployment levels drop and global growth continues? Does it contradict the expectation that by 2030, middle-class spending will increase by US$29 trillion to US$64 trillion annually? And can today’s workforce count on financial security for tomorrow?
In this session, leaders assessed the changes in how we live and work. From job-changing robotics and AI to a growing reliance on contract workers, all while we’re living and working longer, we face a new economic reality of innovation and business strategy — what the World Economic Forum calls the Fourth Industrial Revolution. In Davos we explored how this 4.0 revolution in how we work, save and spend is at odds with our traditional income, savings and retirement systems.
Watch the session video and executive conversations to hear first-hand the insights and themes that emerged from our session.
It is my second time in Davos, this time seeing the event through the lens of my new role as CEO of the Asian regional business for Mercer.
In early 2019 leaders of business and government will meet to address the challenges presented by technology and changing workforce dynamics and what this industry - Industry 4.0 - means for the future of work.
Business and government leaders gather next week in Davos-Klosters, Switzerland, for the World Economic Forum’s Annual Meeting, and each year the stakes get higher.
At Mercer, we make a difference in the lives of more than 115 million people every day by advancing their health, wealth and careers. We’re in the business of creating more secure and rewarding futures for our clients and their employees — whether we’re designing affordable health plans, assuring income for retirement or aligning workers with workforce needs. Using analysis and insights as catalysts for change, we anticipate and understand the individual impact of business decisions, now and in the future. We see people’s current and future needs through a lens of innovation, and our holistic view, specialized expertise, and deep analytical rigor underpin each and every idea and solution we offer. For more than 80 years, we’ve turned our insights into actions, enabling people around the globe to live, work and retire well. At Mercer, we say we Make Tomorrow, Today.