As economic challenges deepen, businesses will need to rethink current operational models. Uncertain times can also bring new opportunities. Reinvent and drive new sustainable futures for your people, business and, in turn, the economy. An urgent drive to optimise costs, accelerate digital collaboration and return safely to workplaces are the foundations for future success.
COVID-19 has had an unprecedented effect on businesses and their employees in Singapore and beyond. In April, Singapore had the sharpest fall in employment since SARs in 2003; organizations are also impacted by hiring freezes and curtailed revenue pipelines.
There is also a need for effective strategies to manage costs without compromising engagement or the employee experience. During these times it is necessary to re-think how we ramp up capacity and staff, use the right tools to support talent sharing, and communicate effectively.
Turning this into reality is no small task, however. It requires the ability to balance immediate workforce demands, and ensure employee-redeployment across functions, whilst putting strategic workforce plans in place to support changing business goals.
To embark on talent sharing activities and meet immediate needs – take a look at our Talent Sharing Slide Deck. For guidance on longer-term Strategic Workforce Planning see the webinar, white paper and case studies below.
The future of work is now!
In order to prepare for the future of work, organizations need to go beyond rewards, skills, culture and capability to ask higher level questions.
As organizations emerge from lockdown, realigning and reinventing business models and strategies may be necessary to remain relevant. But what type of jobs and skill sets will be required to enable current and continued business growth? And how do organizations align their workforce with the trends/themes of the future, while defining their workforce’s future job profile or skill mix?
To address these questions and the ones posed above, Mercer suggests taking three steps to enable optimal workforce planning.
It’s time to identify what work each organization creates, how, and why this matters to their people and financial success.
Let us help you connect workforce plans with business economics, while ensuring employees’ needs and aspirations are taken into account. Strategic workforce planning can create results that aren’t just defensible to investment boards; they help galvanize the emotional spirit that successfully drives significant organizational transformation.
With around 60% of Singaporeans already working from home on a regular basis in 2019, we are comparatively well prepared for the move to remote working as the pandemic took hold earlier this year.
While most firms were able to continue operations with their people working remotely, businesses in the region will need to do a lot more to create a truly digital work experience that will work for the longer term.
Understand how you can implement digital collaboration — from project delivery, to training, to leading the overall digital transformation of the entire organization.
Singapore office employees can now legally return to work for up to 50 per cent of their hours. With some businesses finding that long-term homeworking arrangements have impacted wellbeing and productivity, you may be seeking to capitalise on this relaxation of pandemic guidelines.
To do so safely, you will need to think both tactically and strategically, and plan for the short and long term by keeping a sharp focus on three critical actions.
Prepare your workplace and your employees. Businesses will need to prepare the worksite so that people can return safely. You will also need to identify which employees will be returning and get them ready for what to expect. Your employees need to know they are returning to a safe workplace — developing a comprehensive plan to keep your people safe is the top priority.
Support your people. To ensure employees stay productive and healthy, explore strategies that help safeguard your people’s well-being and support diverse needs. For example, should you consider compensation and rewards adjustments for people on-site? How can you better support employees who continue to work remotely? What could a plan for a blended workforce look like?
Strengthen enterprise resilience. Employers and employees need to be prepared to mitigate future outbreaks and their potential impacts. The success of your return process will hinge on your ability to monitor and intervene when needed.
To help you face the challenges ahead, we offer workshops grounded in a strategic approach to returning to the workplace — whether that means a return to a physical worksite, finding new ways to support those working remotely, or building a blended workforce for the future.
Mercer helps clients adapt and thrive through change every day. At times of uncertainty, we remain a trusted advisor and we are here to support you. Contact us below: