By focusing work around human needs, companies can not only enhance productivity but also foster a more inclusive and diverse workforce., where experts from across the retirement industry and employee benefits space shared their views on the trends shaping the New World of Work.
Masood emphasised that companies that focus on flexible working, employee wellness, diverse skill sets, automation and enablement through digital tools can add an estimated 7.7 percentage points to their profit growth and 6.7 percentage points to their revenue growth. And while 65% of senior executives are increasing remote working to attract or retain talent, this isn’t enough on its own.
However, the 2024 Old Mutual Workplace Benefits Primary Research, powered by LIMRA, found that South African employers tend to overestimate how satisfied their employees are with the benefit packages they offer – and many are not meeting all their requirements. The research found a significant correlation between employee satisfaction with their benefits package and employee satisfaction at work.
Understanding the similarities and differences between those priorities is key to winning the sector-wide war for talent, Sebesho said. ‘The new world of work compels organisations to rethink their employee value propositions and how they attract and retain talent,’ she said.
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