Boost corporate resiliency with workforce resiliency 

Mercer’s ambitious Global Talent Trends survey provides a unique composite snapshot of the state of work in the world today from the perspective of multiple stakeholders – business leaders, HR executives, investors, and workers. This year’s report, which has just been released, delves into several critical issues, not least the impact of AI and successfully transitioning to a digital-first culture. 

Another issue the study examined, and the subject of this post, is the growing need for employers to manage risk and build resilience – on both a corporate and workforce level. We are living in a time of unprecedented change and uncertainty, with crises such as geopolitical conflicts, extreme climate events, and social unrest becoming a fact of life. If there’s an antidote to crisis, it’s resilience.

Resilience is the ability to withstand and adapt to crisis and constant change. It requires having the right culture, leadership, and response plans in place. A silver lining of the COVID-19 pandemic was that it taught employers the importance of preparing for unforeseen challenges. The survey found that substantially more employers today believe their businesses can withstand crises compared to two years ago.

The connection between corporate resilience and employee well-being

Building resilience is not just about crisis management -- it involves taking care of your people all the time. The pandemic has made us more appreciative of the things that truly matter, such as our health and work-life balance. To be an employer of choice today, it is crucial to embrace this new attitude and support it with the right mix of benefits and policies. The survey shed light on the connection between organizational resilience and employee well-being. Leaders were asked to rate their organizations’ level of resilience. The more resilient organizations were more likely to prioritize long-term viability over short-term gains and were more aware of people risks. For example, they were more likely to understand that extreme climate events can decrease worker productivity. Resilient organizations were also more likely to have HR teams that advise leadership on human capital risks.

Financial worries are known to have a negative impact on mental health and productivity, and the survey confirmed that employees who are financially strained are at a greater risk of burnout. However, organizations have an opportunity to make a positive impact on their employees’ financial health. Employees who reported that they are thriving were much more likely to have employers that provide financial wellness advice and keep pay competitive.

While there are many ways to promote employee well-being and resilience, in a time of accelerating health benefit cost growth, employers need to invest wisely where they can make the biggest impact. Today, we’re seeing strong focus on making healthcare more affordable; offering benefits that support women’s reproductive health and inclusive family building, and providing comprehensive support for employees with cancer.

Importantly, the survey highlights the importance of addressing the impact of extreme climate events on employees. HR has a crucial role to play in educating leadership about the people risks associated with extreme climate and implementing programs to safeguard employees, especially the most vulnerable.

Mercer’s 2024 Global Talent Trends Study unpacks these topics with insights from over 12,000 C-suiters, HR leaders and employees -with valid data sets across 17 markets and 16 industries. To learn more about this year’s trends and their regional implications, click here to download the study or watch our webinar replay breaking down the results.