As artificial intelligence (AI) transforms industries, Asian businesses are at the forefront of integrating human potential with machine capabilities. The rise of AI offers unprecedented productivity opportunities, but harnessing this potential requires organizations to align their workforce strategies. This article highlights insights and actionable steps for HR and business leaders to build a future-ready workforce.

Evolving Employee Expectations

Post-pandemic, employee expectations have shifted significantly. Mercer’s Global Talent Trends report indicates that 42% of employees feel their needs are unmet in current roles, compared to 19% two years ago. Modern employees seek more than job security and fair pay; they desire a meaningful connection to their organization's culture and goals. Priorities like belonging, contribution, and cultural alignment are pivotal for retention across generations.

The Role of AI Beyond Productivity

While many organizations view AI primarily as a productivity booster (projected gains of 10-50%), its potential to enhance creativity and personalization is equally significant. With workers in Asia spending 35% of their time on repetitive tasks, AI can free up bandwidth for innovation and well-being. Sharing these productivity gains by investing in upskilling, enhanced benefits, and work-life balance initiatives builds trust and loyalty among employees.

Skills as the New Workplace Currency

The rapid pace of technological evolution underscores the importance of skills-powered organizations. Reports suggest that less than 40% of current skills will remain relevant in two years. By implementing enterprise-wide skills development programs and mapping learning pathways, businesses can ensure a steady flow of talent capable of meeting future demands. Standard Chartered’s success in redeploying employees through skilling initiatives showcases the cost-effectiveness and sustainability of such strategies.

Building Workforce 2.0: Key Strategies

To thrive in the AI era, businesses must focus on four critical elements:

1. Human-Centric Productivity: Reimagine roles by prioritizing creativity and aligning tasks with employee aspirations.
2. Trust and Equity in AI: Uphold ethical AI practices to foster trust among stakeholders.
3. Resilience and Well-being: Monitor workforce energy and encourage health-centric career development.
4. Digital-First Culture: Equip employees to adapt to emerging technologies seamlessly.

Conclusion

Unlocking human potential in an AI-powered world requires more than technological upgrades. By fostering an inclusive, skill-driven, and innovative environment, organizations can transform challenges into opportunities. In this new era of human-machine collaboration, the winners will be those who prioritize human aspirations alongside technological advancements.

Acknowledgment: This article is based on insights from Kate Bravery, Global Advisory Solutions & Insights Leader at Mercer, on keynote presentation at the Mercer 2024 Asia HR Conference.