New report shows different priorities of C-suite, HR in achieving organisational success
Four in 10 executives believe that investing in generative AI will deliver the biggest boost to productivity in their organisations, according to a new report from Mercer.
The report gathered insights from over 12,000 C-suite executives, HR leaders, employees, and investors globally to determine how they're navigating the evolving world of work.
"Raising productivity through AI is top of mind for executives but the answer does not lie in technology alone," said Kate Bravery, Mercer's Global Talent Advisory Leader and author of the study, in a statement.
Other areas that C-suite members plan to invest in to boost productivity include:
- Employee upskilling and reskilling (51%)
- Physical and mental wellbeing initiatives (45%)
- Process optimisation and workflow management (44%)
- Simplified organisational structure (37%)
- Workforce deployment platforms (34%)
- Cybersecurity measures to prevent disruptions (31%)
- Self-service solutions for routine information (25%)
- Workforce monitoring and feedback (25%)
- Work redesign efforts (22%)
The list reflects how organisations are navigating generative AI tools by complementing them with agile talent models and human-centric work designs.
"This requires deep insights into skills demand and supply, as well as investment in upskilling," the report read. "Keeping people at the heart of productivity equation ensures that the gains delivered will be shared by all."
Keeping up with AI
Despite organisations investing in AI and upskilling, the report found that 58% of executives believe tech is already advancing faster than they can retrain their workers.
Another 74% of executives are also worried about their talent's ability to pivot.
Less than half of executives also believe they can meet this year's demand with their current talent model, according to the report, while 28% of HR leaders are confident that they can make human-machine teaming a success.
Difference in priorities
This comes as HR leaders have different priorities in mind when it comes to what will deliver the most business growth, with enhancing the EX/EVP to attract and retain top talent emerging on top. Other priorities for HR leaders include:
- Investing more in benefits to improve physical/mental health
- Improving workforce planning to better inform buy/build//borrow strategies
- Improving HR/People analytics capabilities
- Redesigning work to incorporate AI and automation
- Enhancing/modernising rewards practices
Pat Tomlinson, President at Mercer, said their findings highlight "staggering shifts" at work.
"They point to a notable divergence between the views of the C-Suite and HR on what will carry business forward in 2024, and a lag in employees' views on the impact of technology," Tomlinson said in a statement.
"As we usher in an age of human-machine teaming, organisations need to place people at the heart of transformation."