A high proportion of executives in Singapore and Hong Kong expect significant disruption in the next three years.
According to Mercer’s 2019 Global Talent Trends study, nearly all (94%) of executives in Singapore, 82% of those in Hong Kong think significant disruption will take place in the said time frame, compared to 73% of the global pool of respondents.
Mercer said its 2019 Global Talent Trends study insights from more than 7,300 senior business executives, HR leaders, and employees from nine key industries and 16 geographies around the world.
The increase of respondents having the same prediction rises significantly this year. Last year, only 25% of respondents in Singapore, 6% of those in Hong Kong, and 26% globally thought so in 2018.
- 59% of Singapore companies are planning to invest more in automation this year, but less than one-third have good insights into the business impact of their buy, build, borrow, and automate strategies
- 54% of Hong Kong companies and 60% of all company surveyed plan to automate more work in the next 12 months
- The climate of uncertainty is impacting employees as well, with two-thirds in Singapore asking for more clearly defined responsibilities. Yet, job redesign is low on the C-suite agenda, with only one in six executives saying that redefining jobs would have a sizeable impact on the company’s business performance
- In Hong Kong, the C-suite names job redesign as one of the top five areas of talent investment with sizeable potential for return on investment, and 67% of employees prefer more clearly defined responsibilities
- Globally, the C-suite names job redesign as the area of talent investment with the highest potential for return on investment, and 65% of employees are asking for more clearly defined responsibilities