2024 Asia HR Conference Blog Series - Unlocking Human Potential in the Age of AI: Key Insights for Business and HR Leaders 

We stand at the epicentre of one of the largest workforce and business transformations in history. As AI and human capabilities converge, organizations face both unprecedented opportunities and challenges in building Workforce 2.0. 

Based on our latest Global Talent Trends research and real-world observations, here are the critical insights business and HR leaders need to navigate this transformation.

The pandemic fundamentally shifted how people view work. Today, 42% of employees report their needs are not being met in their current roles—a dramatic increase from 19% two years ago. What has changed? 

People no longer want to simply be employees; they want to be contributors to a broader agenda. They seek organizations with strong brands, opportunities for growth, and they don’t just want to fit into cultures, they want to help shape cultures that reflect their values.

The top factors driving retention in Asia reveal this shift: job security, fair pay (not absolute pay), and work culture. Notably, employees across all generations globally share similar priorities: working for an organization with a respected brand, feeling a sense of belonging, being valued for their contributions, having fun at work, and having managers who advocate for and trust them.

While AI promises significant productivity gains—with executives expecting 10-50% improvements—we must think beyond mere efficiency. There is more AI can offer with personalization and prediction, to improving our work and business outcomes. Our research shows that typical workers in Asia spend over a third of their time on mundane, repetitive tasks, with only 26% devoted to creative pursuits. AI can help shift this balance and help make work more inspiring. But the goal shouldn't be to simply return productivity gains to shareholders.

Instead, organizations should consider sharing this "productivity dividend" with workers by:

• Returning time for employee well-being
• Investing in enhanced benefits
• Supporting continuous upskilling and reskilling

The World Economic Forum estimates that less than 40% of current skills will remain relevant in two years. Leading organizations are responding by building "skills-powered" organizations. Our research shows the most effective approaches include:

• Creating enterprise-wide skills development processes
• Mapping learning pathways from sunset to sunrise roles
• Implementing intentional development nudges
• Rewarding and incentivizing skill development

Companies like Standard Chartered have demonstrated that skilling and redeploying talent, rather than replacing it, can save up to $50,000 per person—making this a board-level priority. To learn more about their journey, check out this latest book on the topic.

To unlock human potential in a machine-augmented world, organizations must focus on:

1. Driving Human-Centric Productivity: Measure future work possibilities against people's hopes and dreams, using skills as the bridge.
2. Building Trust and Equity: Ensure fairness in AI usage and maintain ethical practices that matter to both workforce and customers.
3. Bolstering the Corporate Immune System: Take a broader view of enterprise risks, including workforce energy levels and well-being, while nudging employees in pursuit of better health, wealth, and career outcomes.
4. Cultivating a Digital-First Culture: Inspire widespread adoption of new technologies and ways of working as part of the digital transformation.

As HR leaders, we cannot merely adapt to the future—we must actively shape it. This means being stewards not just of work, but of humanity. We must prioritize ethical AI and integrate ESG outcomes into our metrics. Employers must also make progress on work advancement and well-being in tandem. Workplace wellness programs are rendered ineffective without a work design that supports employee well-being.

The magic lies in bringing together human aspirations with technological capabilities. By focusing on these elements while maintaining a deep understanding of our workforce's needs, we can create digitalization strategies where both humans and machines thrive together.

In this new era of human-machine teaming, the opportunity isn't just to improve efficiency, it's to fundamentally reimagine how work gets done while keeping a close eye on the impact on humanity. Those who get this balance right will win in the People Age.