The Future Is Coming: Is Your Workforce Ready?

The Future Is Coming: Is Your Workforce Ready? | Mercer 2018

Tax Cuts and Jobs Act

The Future Is Coming: Is Your Workforce Ready?

The Tax Cuts and Jobs Act unleashed a relative windfall of additional investment dollars for companies of all sizes. Now, business leaders are charged with determining where best to invest the money to accelerate growth.

 

At first, companies announcing one-off bonuses and minimum wage increases grabbed the headlines. Now it’s time to turn attention to the real conversations happening in board rooms and amongst the C-suite: From all the options we have for substantial growth-driving investments, what will drive the best outcomes?

 

Share repurchases and M&A are at the top of the agenda for many, but in order to truly position their companies ahead of the curve, leaders need to direct a portion of their investment dollars into building a workforce prepared for the future.

 

Four Forces of Change Are Creating An Urgency for Action

We’ve identified four major forces of change creating a burning platform requiring immediate attention and swift action.

 

 

The Rate of Change is Exponential

How will you adapt as technological advancements force exponential change?

The War for Talent is Intensifying

How will you attract and retain the best talent as unemployment reaches a five-decade low?

Employee Expectations are High

How will you deliver on tax reform promises of benefits to employees and avoid a “talent boiling point”?

Deadline Looms for Further Tax Savings

Will you react in time to realize potential tax savings on pension contributions?

Every CEO, CHRO and CFO has a choice as to how and when they will respond to these events. With investment dollars made available through tax reform, the time to act is now.

 

The visionaries, pioneers and challengers amongst us will recognize this as their opportunity to lead in the building a workforce for the future and in turn will leap ahead of their competitors to fast-track business growth. Those who wait risk being left too far behind to catch up.

The Tax Reform Investment Opportunity: 5 Critical Workforce Investments The C-Suite Needs to Make Now

 

With the dollars made available through tax reform, companies now have the opportunity to invest in their workforce.
Here are 5 actions that you can take now:

 

1.   Maximize Your Tax Savings

 

2.   Create A Brand-Building Compensation Plan

 

3.   Get Ahead of The Curve in Building Your Workforce for the Future

 

4.   Deliver A Meaningful, Differentiated EVP

 

5.   Ignite Your Culture. Measure. Adjust. Repeat.

 

 

Maximize Your Tax Savings 



Companies have a one-time opportunity to realize more than 20% in post-tax savings on contributions needed to by pre-funding pension plans by September 15.

Reassess your investment strategy to lock in long-term gains and minimize future volatility.

 

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Time to retire retirement

  • People expect to spend 15-20 years in retirement, but without better planning, many will outlive their income.
  • 2 out of 3 adults expect to live past 80, but only 1 in 3 are confident they will have enough money to afford to do so.
  • 68% of people globally don’t ever expect to retire or expect to keep working after retirement.
  • 86% say that continuing to develop professional and personal capabilities is important.

Time to retire retirement

  • People expect to spend 15-20 years in retirement, but without better planning, many will outlive their income.
  • 2 out of 3 adults expect to live past 80, but only 1 in 3 are confident they will have enough money to afford to do so.
  • 68% of people globally don’t ever expect to retire or expect to keep working after retirement.
  • 86% say that continuing to develop professional and personal capabilities is important.

Time to retire retirement

  • People expect to spend 15-20 years in retirement, but without better planning, many will outlive their income.
  • 2 out of 3 adults expect to live past 80, but only 1 in 3 are confident they will have enough money to afford to do so.
  • 68% of people globally don’t ever expect to retire or expect to keep working after retirement.
  • 86% say that continuing to develop professional and personal capabilities is important.

Time to retire retirement

  • People expect to spend 15-20 years in retirement, but without better planning, many will outlive their income.
  • 2 out of 3 adults expect to live past 80, but only 1 in 3 are confident they will have enough money to afford to do so.
  • 68% of people globally don’t ever expect to retire or expect to keep working after retirement.
  • 86% say that continuing to develop professional and personal capabilities is important.

Time to retire retirement

  • People expect to spend 15-20 years in retirement, but without better planning, many will outlive their income.
  • 2 out of 3 adults expect to live past 80, but only 1 in 3 are confident they will have enough money to afford to do so.
  • 68% of people globally don’t ever expect to retire or expect to keep working after retirement.
  • 86% say that continuing to develop professional and personal capabilities is important.

Time to retire retirement

  • People expect to spend 15-20 years in retirement, but without better planning, many will outlive their income.
  • 2 out of 3 adults expect to live past 80, but only 1 in 3 are confident they will have enough money to afford to do so.
  • 68% of people globally don’t ever expect to retire or expect to keep working after retirement.
  • 86% say that continuing to develop professional and personal capabilities is important.

Time to retire retirement

  • People expect to spend 15-20 years in retirement, but without better planning, many will outlive their income.
  • 2 out of 3 adults expect to live past 80, but only 1 in 3 are confident they will have enough money to afford to do so.
  • 68% of people globally don’t ever expect to retire or expect to keep working after retirement.
  • 86% say that continuing to develop professional and personal capabilities is important.

Time to retire retirement

  • People expect to spend 15-20 years in retirement, but without better planning, many will outlive their income.
  • 2 out of 3 adults expect to live past 80, but only 1 in 3 are confident they will have enough money to afford to do so.
  • 68% of people globally don’t ever expect to retire or expect to keep working after retirement.
  • 86% say that continuing to develop professional and personal capabilities is important.

 

 

 

Create A Brand-Building Compensation Plan

 

It will take 217 years to close the global economic gap between genders at the current rate of change, according to the World Economic Forum. 67% of companies do not have a regular pay equity review process.

 

Take this opportunity to make sure your compensation strategy is fair and competitive to protect your brand, reduce litigation risk and simply do what’s best and right by your employees.

 

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Get Ahead of the Curve in Building Your Workforce for the Future

 

The workforce for the future will look vastly different from what it is today.

Accelerate your workforce transformation to be able to compete in a digital age, extend your leadership and secure a sustainable competitive advantage. 

 

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Deliver a Meaningful, Differentiated Employee Value Proposition

 

 

With 1 in 3 employees satisfied in their current role, but still planning to leave in the next 12 months, it’s clear that companies just aren’t doing enough to reward and engage their workforce.

 

Strengthen your employee value proposition with an expanded view of total rewards to inspire, energize and empower your best skilled talent, making them want to stay with you.

 

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Ignite Your Culture. Measure. Adjust. Repeat.

 

Investments in people work. Companies with highly energized and engaged employees have 11-16% higher stock performance.

 

Build trust and engagement with your employees through communications that empower them to contribute your company strategy and measure the impact this has on business growth.

 

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  Download Whitepaper
This window of opportunity is closing fast. Download our whitepaper “The Tax Reform Investment Imperative” to learn more about our recommendations for investing in your workforce:
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