Competitive
drivers

Navigating the intersection of
green, tech and innovation

Competitive drivers

Amid economic uncertainty and intensifying competition for talent, organisations must take decisive actions to attract and retain top talent while advancing their sustainability commitments. Employees today are increasingly seeking purpose and meaning in their work, flexible arrangements that integrate with their lifestyles, opportunities to continuously develop new skills, fair pay for fair work, and leadership that cares about more than just profits. Today, organisations must demonstrate their stances on social, political and environmental issues to stand out.

By investing in people and communicating their values and commitments, companies can gain a competitive edge.

| Trend 8 |

A people-powered green transition

The advancement of the green transition continues and the impact on people, prosperity and the bottom line is taking centre stage. Investing in people is not just a choice; it's a necessity. As the demand for green jobs surges, companies need workers with the skills to execute net zero strategies across business functions.

At the same time, candidates are now heavily considering a company’s environmental performance before accepting a job offer. A recent ManpowerGroup study found that 62% of workers check a company’s environmental reputation. In addition, evidence of clear action on environmental issues (60%) is now a deciding factor when choosing between job opportunities.

_{^{Source: ManpowerGroup Green Workforce Survey, October 2023}}

The global green business transformation will be the #1 job creator in the next five years.
Within the last year, 49% of global consumers opted to pay a premium for sustainable products. Gen Z takes the lead in demonstrating a strong preference for sustainability, with 75% of Gen Z individuals saying when it comes to making purchases, prioritising sustainability outweighs brand considerations.

| Trend 9 |

The manager mandate: Mastering continuous transformation

The pandemic provided a crash course as managers pivoted to remote leadership overnight. Now as AI, automation and sustainability reshape work, the onus falls on managers to guide a people-first transformation. As new green and digital skill requirements grow, managers must motivate their people while easing fears around displacement.

Managers also serve as the anchor steering organisational change. They must maintain engagement, inclusion and wellbeing amidst shifts in work models, business needs and employee expectations.

Now managers spearhead upskilling initiatives so people at all skill levels participate in the future of work. Top managers understand change succeeds when their people succeed.

_^Source:_{^{Future of Jobs Report}}_{^{- World Economic Forum}}

“You need to have a long-term view of talent and a more sustainable approach to managing human potential. We're all very focused on the short-term, and that's the risk.” -Tomas Chamorro-Premuzic, Chief Innovation Officer, ManpowerGroup

| Trend 10 |

Onshore vs. nearshore vs. offshore

Disruptions during the height of the pandemic exposed vulnerabilities in global supply chains. As the world economy continues to recover, challenges have remained, including increasing sustainability, demand volatility, shipping disruption, lack of effective data gathering and fluctuating fuel costs.

Companies must prepare now for future disruptions by building diverse supplier networks and talent communities.

^Source:^{Why global industrial supply chains are decoupling}^{- EY}

To increase resiliency, manufacturers are relocating some manufacturing from China to other countries in the APAC region such as Vietnam, Malaysia, Bangladesh, India and Taiwan.
Nearly half (48%) of companies say they are under increasing pressure to improve sustainability in the supply chain.

| Trend 11 |

Striking the right balance on pay

Today, economic uncertainty is preventing almost a quarter of workers (23%) from getting the job they want. People are changing jobs less frequently — forcing employers to figure out how to best strike the right balance between wages attractive enough to bring talent in while sustaining profitable growth.

With fair pay for fair work as the top productivity driver, it’s no surprise that a third of all workers (31%) wish leadership would better understand the financial challenges that impact their work. In addition to increased wages, businesses must also find other ways to stay competitive and retain skilled talent by providing autonomy, flexibility and purpose-driven work.

_{^{Source: ManpowerGroup real-time data, US}}