The McKinsey Health Institute’s 2023 survey of more than 30,000 employees across 30 countries found that employees who had positive work experiences reported better holistic health, are more innovative at work, and have improved job performance. Holistic health is an integrated view of an individual’s mental, physical, spiritual and social functioning. While it was found that more than half of the surveyed employees have positive overall holistic health, there are substantial variations between countries and age groups, with those aged 18-24 having the lowest holistic-health scores. Workplace enablers such as meaningful work and psychological safety are shown to strongly predict good holistic health, but burnout is closely linked to workplace stressors. The report concludes by offering organisational, team, job, and individual interventions strategies for employers that address demands and enablers to boost overall employee holistic health.
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Demographics
This report from the CIPD sets the context of longstanding megatrends impacting the UK’s world of work, arguing that skills development policy is the key policy lever needed in response. It compares and summarises current labour market and skills challenges across the four nations as well as employer approaches to training and provides an overview of key public policy developments. Skills and labour shortages continue to impact employers across all four nations and virtually all sectors of the economy. In addition to this, skills gaps, mismatches and underutilisation point to persistent inefficiencies between the labour market and the skills development system. The second half of the report focuses on apprenticeship systems which have seen the biggest evolution and divergence since 2017.
The OECD’s latest International Migration Outlook report explores recent developments in migration movements and the labour market inclusion of immigrants in OECD countries. The report reveals that permanent migration to OECD countries reached a record high of 6.1 million in 2022, marking a 26% increase from 2021. It cites rising labour migration as one contributing factor, as migrant workers have helped lower labour and skills shortages in OECD countries.
This year’s edition also includes a special focus on the labour market integration of migrant mothers and fertility patterns among migrant populations.
Recent research from CBI, in partnership with Pertemps, reveals that 71% of UK businesses have been hit by labour shortages in the last 12 months and 77% of businesses believe access to skills threatens the UK’s current labour market competitiveness.
This report from Generation and the OECD analyses existing data and the results from an eight-country survey of employers, job seekers, and employees in Europe and the US. It finds that employers who would hire from the 45-64 age group are in the minority, with the length of a candidate’s experience not being a significant factor in interview decisions. Additionally, 70% of employers believe individuals over 45 struggle to adapt to technological advances. Notwithstanding this, most employers indicated that their existing employees aged 45+ performed as well as or better than their younger colleagues and learnt at a similar or faster pace. The report concludes by laying out 13 recommendations for employers, policy makers, and midcareer and older individuals to enable an intergenerational workforce.
In this report, James Davies, Employment Partner at Lewis Silkin LLP, explores the possibility that, by 2050, economies like the UK will face a labour market with too few jobs for the available workers. Rapid advances in technology are converging with other significant drivers of change to transform the world of work. Delving down into the work and occupations of today, this report considers the factors which could increase or decrease jobs in different sectors over the next quarter of a century. The impact of this transformation will depend on decisions made, and actions taken, over the next few years. This report identifies the decisions and actions which will need to be addressed and brings together insights from a variety of sources to offer a glimpse of that future.
In the latest white paper of the Jobs of Tomorrow series, the World Economic Forum, in collaboration with Accenture, presents an examination of the potential impact of large language models (LLMs) on jobs. To measure the impact of LLMs, this paper analyses over 19,000 individual tasks across 867 occupations. It assesses the potential exposure of each task to LLM adoption and classifies them as tasks with high potential for automation, high potential for augmentation, low potential for either, or unaffected. The paper also provides an overview of new roles that are emerging due to the adoption of LLMs.
The CIPD’s latest health and wellbeing survey report provides a wealth of benchmarking data and analysis on key areas including wellbeing, absence, presenteeism and leaveism, work-related stress and mental health. Key findings include employee sickness absence is at the highest level reported for over a decade, with 3.4% of working time lost per year and mental ill health and musculoskeletal injuries being the top causes of both short-term and long-term absence.
This manifesto from the CIPD calls on the UK government to create a long-term workforce strategy centred on skilled, healthy and fair work to drive changes in the ways in which employers recruit, develop and retain their workforces. This workforce strategy underpins a broader and bolder vision for economic growth that can boost productivity across all sectors and raise overall living standards across the country. Priority areas include skills, innovation, business support, digital adoption, green transition, immigration and labour market regulation.
In this report from Edelman, employer trust emerges as a crucial theme in an era of declining trust in institutions. Employers stand as exceptions to this trend. Younger employees influence older colleagues, redefining work meaning and management dynamics. Individuals seek meaning in the workplace and demand that employers match their values with their business practices. Additionally, the report emphasises the importance of action over words, particularly in a diverse, politically charged landscape. It underscores the importance of prioritising deskless employees, urging transparency and personal engagement to build trust, recognising their pivotal role as brand representatives to customers.