Its been three weeks since the WHO declared a Covid2019 pandemic. It is not the worlds first coronavirus. We have had SARS, MERS, H1N1, swine flu and the like, some with much higher case fatality.

But this is unique in its sweeping virulence. The Centers for Disease Control (CDC) says the annual percentage of the U.S. population infected with the flu is about 8%, which translates to 26 million people a year. Of these, the CDC estimates that up to 60,000 persons die. It stands to reason that many more in India get afflicted by flus and influenzas each year, possibly with larger fatalities.

Given this knowledge and some very recent hindsight, it is time to sit back and objectively reconsider the draconian policy measures unleashed in India. The four hours to midnight order for a nationwide curfew to enforce social distancing has caught our public and public administration woefully unprepared.

The consequences of Covid2019 to the Indian economy and consequent loss of lives and longevity, seems very likely to exceed the loss due to any mass spread of the virus.

Epidemiological studies put out at several well regarded institutions such as MIT and the Global Virus Network (GVN) seem to suggest that this particular coronavirus is endemic in populated areas falling in temperature band of 3-17C with a humidity between 51 -79%. These initial findings suggesting a correlation between latitude and incidence have the powerful endorsement of Dr. Robert Gallo, the famed virologist and GVN head.

Mind you it has been just a few months Covid2019 jumped species by finding home in human beings. Covid2019s natural reservoir, seems to be bats, like the earlier coronaviruses SARS and MERS. But the fact remains the spread of Covid2019 has been faster in areas with colder climes.

The essential facts about Covid2019 is that while it is virulent, its fatality is around 1% and this is principally concentrated among the elderly and already ailing. Its symptoms are mostly akin to common seasonal flus often attributed to change of season etc.

Covid2019 can only be confirmed by testing and the cheapest test costs about Rs.5000 each. Clearly we cannot afford to test enough which simply means we wont ever know how many are truly afflicted by Covid2019.

The average life expectancy of Indians is 68.7 years. The above 65 years cohort accounts for only about 6% of India, which suggests that the incidence of fatality here will be lower.

Bubonic plague has a mortality of over 80%, while even diphtheria has a mortality rate of 32%. Covid2019 is not a killer virus.

In the developed countries like USA, Italy and elsewhere with substantially higher life expectancy, the 70+ years cohorts are much bigger. The mortality rate due has been the highest in Italy with about 9%. Almost 86% of the Italians who died were over 70 years. Italy has the second oldest population in the world after Japan, with over 23% over 65 years. Experts believe this was the determining factor in its high fatality rate.

The goal of social distancing is a hugely unfulfilled aspiration. The poor in India live cheek by jowl, with densities often exceeding 60000 per sq.miles. India has over 410 million workers in the unorganized sector, the vast majority of whom are daily wagers making a little more than the prescribed official wages and often much below that.

This working age cohort is mostly made up of younger Indians. The youthful age group (14-35 years) accounts for about 34% of Indias population. This cohort is about as much as the 35-65 years cohorts. Thus, even if the pandemic is real for India, the fatality due to it will be very low. The vast majority of Indians who might get infected by Covid2019 virus wont even know it.

Now assume that the Covid2019 pandemic will overwhelm India, and consider Indias abysmal health care scene. We have 6 physicians; 9 hospital beds and 13 nurses per 10,000 people. Nationwide we have less than 40000 ventilators and only 70000 intensive care beds (ICU). This calls for a policy that will help stagger the load and allow immunity to build up without overwhelming the critical care system.

Harvards Yonatan Grad, Professor of Immunology and Infectious Diseases, and colleagues conducted research on how to prevent overwhelming the U.S. health care system during the pandemic. This indicates the only possible method for dealing with the epidemic may be multiple intermittent social-distancing periods that ease up when cases fall to a certain level and then are reimposed when they rise past a key threshold.

As time passes and more of the population gains immunity, they said, the restrictive episodes could be shorter, with longer intervals between them. Clearly the nationwide simultaneous social distancing imposition was not only but also ill conceived.

The IMF has now announced a global recession due to disrupted supply chains and contraction of consumption. In India, consumption (C) accounts for 63% of GDP. Given GDP is = C + I + G + (X M) or GDP = private consumption (C) + gross investment (I)+ government investment + government spending (G) + (exports imports), the impact of the collapse of private consumption of the economy can be easily understood.

Many respected analysts are agreed that it will be no less than 20-30% in Q1. The government pledged to step up its spending by Rs.1.7 lakh crores. We wont go into how this was arrived at now, but just consider how inadequate it is compared to the hit taken by consumption? The government clearly needs to do more. It needs to pull out all stops to do this.

Where is the money is the question? Even if it sequestered 20% of the cash reserves with our to 100 corporations, it will be substantial.

The top 10 corporations alone have a hoard of over Rs.10 lakh crores. (Reliance has cash reserves of Rs.398,000 crs. TCS has almost Rs.100,000 crs, ITC has Rs.60,000 crs.) Our government wage and pensions bill accounts for 11.4% of GDP. Holding back only 10% of this or just the annual LTC will fetch the state and central governments over Rs.2 lakh crores.

It only calls for will and vision to accumulate the cash to begin reconstruction of a devastated economy. The pain cannot and must not be borne by the poorest alone. Modi has formidable communication skills and he must use it now.

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Consequences to Indian Economy Set to Exceed Loss of Lives by Coronavirus - The Citizen

In writing further about the coronavirus crisis - now being called the greatest ever threat to the world in peacetime - I offer comment this week on the latest developments in Europe, including Britain, and here at home as well. The crisis affecting so many countries has become nothing short of a human catastrophe and the most serious global health challenge of our times. Its effects have also had a horrifying impact on the world economy and have disrupted modern society on an unimaginable scale.

As of yesterday, there have been more than 700,000 infections worldwide and some 20,000 deaths in Europe, with Italy recording 10,000 fatalities the most anywhere in the world and Spain some 6,000. In the UK, there have been more than 1,000 deaths with 17,000 people testing positive for the virus. In a letter over the weekend to 30 million households, Prime Minister Boris Johnson warned the situation will become worse before improving and stressed the importance of social distancing, a message that has been repeated so often that even those who are still asking what all the fuss is about should take heed of by now.

The UK government has produced what appears to be a generous financial bailout and support package designed to help keep afloat as many floundering businesses as possible and also to assist the self-employed. The new Chancellor of the Exchequer (Minister of Finance) spoke in inspiring fashion in defining the crisis as a generation-defining moment that had to be met with a collective national response. The government is also opening new hospitals, extending coronavirus testing to National Health Service staff and increasing supply of equipment like ventilators, surgical masks and gloves and hand sanitisers.

Meanwhile, the situation worsens by the day in the US. Ever the accused villain of the piece, President Trump has been criticised for his governments slow and inadequate response, particularly the lack of testing that meant the spread of the virus could not be tracked properly. But, as well as extending the emergency measures until April 30, he has signed the $2.2 trillion stimulus bill which will surely be a lifeline to the domestic economy after more thanthree million Americans applied for unemployment benefit last week, the largest number in US history.

To my mind, much of the criticism of both the US and UK governments ignores the fact that a silent and invisible virus on this scale - and without any real prior warning - was bound to challenge even the most well-funded and equipped health system. Despite the situation probably becoming worse in the immediate future, the UK may not be that far off a peak of positive cases while the US may end up with the worst outbreak in the industrialised world Trump tops the world was the headline, but how grotesquely inappropriate and insensitive was Hilary Clintons reported tweet that he did promise America First.

In The Bahamas, with 14 cases of COVID-19 confirmed as of yesterday, the Governments emergency measures announced on March 17 seem to have been effective in limiting any real spread, though it can only be speculated whether there would have been more cases without such draconian measures. No one can know this for sure, but people instinctively accept that such tough action is for the common good because health and the preservation of life must be any governments top priority - as one British government minister put it, you cannot put a price on peoples lives.

Now, the 24/7 curfewhas been extended by eight days. Surely, few would disagree with this despite the personal inconvenience to so many and the inevitable continuing serious effects on the local economy when businesses are forced to remain closed.

It is interesting that, after initially criticising the Prime Minister, the PLP changed tack and supported him when just about the whole country seemed to think Dr Minnis emergency measures were correct and timely. Not to have done so could have been ruinous politically.

The economic consequences of an extended lockdown are incalculable. But it looks almost certain that without some sort of financial support from the government such a lockdown could destroy the local economy. So, in light of the stark reality, the question is, even if everyone survived the current crisis, how would they fare in the longer term if the economy was in ruins. Since the main driver of the nations wealth is tourism - and we have no control over when visitors from the US, Canada and Europe are likely to return - the only thing left is the remaining parts of the economy which are needed to sustain us, not in some distant future but right now.

The Minister of Finance is quoted as saying that after the first case of Covid-19 about two weeks ago the government announced several relief measures for workers in the tourism industry who have been most affected by the crisis. But so many others are hurting as well and they have to be able to put food on the table.

Finance Minister Peter Turnquest announced a series of new measures offering some assistance yesterday but I fear it does not go nearly far enough.Many countries have accepted they must throw huge sumsat the problem - to keep families safe and fed, to keep businesses afloat through the crisis - not just to start up again when the pandemic fades away.

Is it not possible, for example, to be more selective in determining the list of essential services as long as assurances can be given about observing social distancing, and should this not be under constant review during the lockdown period? Moreover, could not the government be more flexible in allowing businesses to open on a restricted and rotating basis, as suggested by my fellow columnist, Diane Phillips, in this newspaper last week?

The whole world order in finance is changing before our eyes. Now is not the time to beoverly concerned about pressure on the nations foreign currency reserves even though it is important to maintain suitable levels of reserves in order to maintain parity between the Bahamian and US dollar. For this is a national emergency requiring immediate action.

Long-term considerations about the economy and worrying about matters like the credit agencies ratings should surely be put aside in the short-term in order to concentrate on measures to enable the economy simply to survive even if that means taxes will have to be increased in the longer term.

In recent weeks, people in Britain have become so accustomed to watching the regular briefings about the virus crisis by Boris Johnson, flanked by the Chief Medical Officer for England and the governments main adviser Professor Chris Whitty, that they probably found it hard to believe these two could themselves become infected with COVID-19.

So it was a surprise to many that Mr Johnson announced a few days ago he had tested positive. He is, therefore, now holed up on his own for14 days in the spacious flat at No 11 Downing Street next door to No 10, the famous office and residence of British prime ministers. He is reported to be continuing to work by using video conferencing and he remains in charge of the government. Meanwhile, Professor Whitty declared he was showing symptoms of the virus and would be self-isolating at home. In addition, the Health Minister, Matt Hancock - with whom both were in regular contact - has tested positive and the trio are now being accused of failing to practise what they have been preaching about social distancing.

Earlier, of course, Prince Charles also tested positive and it was announced at the weekend that Spanish Princess Maria Teresa had died of complications from coronavirus at the age of 86. There are reports Prince Charles is coming to the end of his self-isolation at The Queens royal residence of Balmoral in Scotland. He is said to be in good spirits but there are concerns about the last time he was in contact with his mother, which apparently was as recently as March 13 - and, reportedly, infection from him cannot be ruled out.

So this virus respects no-one, whoever they might be, and everyone is vulnerable. It is now well known that social distancing remains the key in order to guard against its spread. From what I have heard, most people who have tested positive are all too ready to self-isolate for the incubation period of the virus if that serves to prevent them passing it on to others. But still, it seems, the government is having difficulty in persuading people that it is even better to stay away from other people in a bid to avoid contracting it in the first place. That would have been all but impossible for the Prime Minister who has paid the price accordingly. But his approval rating is currently high and many will wish him well while he awaits a full return to his duties.

To lighten the gloom and despair a bit, a happier tale to relate is the 112th birthday of the oldest man in the world. Having written last week about the 103rd birthday of Britains national treasure, the famous singer Vera Lynn, I cannot resist drawing attention to the story of Englishman, Bob Weighton, a former teacher who celebrated his birthday on March 29 and he did so this year as the oldest man in the world following the death in February of the Japanese previous holder of that distinction.

Living in his own flat in the town of Alton in Hampshire in the south of England and supported by family and friends, this now 112-year-old great-grandfather remains in relatively good health and pursues his hobbies of reading and making model windmills. As someone over 110, he is called a super-centenarian and he has received ten traditional birthday cards from The Queen, but he now says he does not want to give her the trouble of sending him any more greetings!

Mr Weighton says he is surprised to have lived so long and cannot account for his great age for he never planned it and has no secret to his longevity. He has remarked that the worlds in a bit of a mess over coronavirus and this worries him because nobody knows what is going to happen.

Coincidentally, Britains oldest woman, Joan Hocguard, of Poole in Dorset also in the south of England, not only shares a birthday with him but also reached the same milestone of 112-years-old on March 29. So, the pair are the joint-oldest people in Britain and have wished each other a happy birthday.

According to UK press reports, there has been talk of the importance of kindness during the course of their long lives and that the joy of family and friends has been at the heart of everything.

Such longevity combined with good health is a remarkable achievement, and it seems that both of them have been well looked after and provided for in their declining years. But, perhaps it also reflects well on Britain, indirectly, as a nation in which, generally, the old, frail and vulnerable are not left to feel abandoned because, if families are unable or unwilling to protect them, society is equipped to provide a safety net and step in to do what is required in the name of human kindness.

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PETER YOUNG: Are we doing enough to prevent economy being left in ruins? - Bahamas Tribune

The coronavirus crisis has spurred the growth of online work. The genie is not going back in the bottle and we must plan for a future of decent digiwork.

The trend of working online from afar is experiencing a crucial boost, as Covid-19 compels companies and organisations to impose mandatory work-from-home policies in an increasingly no-touch world. The sudden switch to remote digital work, overnight and en masse, has the potential to accelerate changes in how work is performed and the way we think about working arrangements.

Looking at the broader picture, Covid-19 may prove to be a major tipping point for the digital transformation of the workplace. It looks near impossible to put that digital genie back in the bottle, once the health emergency is over.

As the virus keeps spreading, some employees will be working from homeand in digitally-enabled environments not bound by a traditional office spacefor the first time.Their working lives will be hugely disrupted and upturned. Yet, for millions of workers around the globe doing gig work, moving their working lives online isnt new. Its just business as usual.

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Especially for crowdworkers in the gig economy, work is not a place: it is a web-based task or an activity, which can be done from any location that allows for internet connectivity. Many millennials and Generation Zers are living the gig-economy model today precisely for the flexibility and freedom remote digital work can offer. Covid-19 could be the catalyst which takes the evolution of work anywhere arrangements to the next level of growth, in ways that considerably improve opportunities to collaborate, think, create and connect productively.

Not all is rosy, though. Currently, Covid-19 is putting the low-paid contingent of gig workers, often linked to digital platformssuch as ride-hailing and food deliveryunder huge strain. After doctors, nurses and other healthcare workers, gig workers lacking any or adequate access to employment-insurance benefits or sick leave are the hardest hit in the United States, Europe and Asia. In countries with some of the biggest clusters of cases, such as Italy, some couriers working for food-delivery apps still go to work because they cant afford not to.

Thus, the Covid-19 crisis leaves especially those who depend on gig work as their primary source of income extremely vulnerable to (fatal) health risks. It undermines their dignity and it intensifies social and economic divides which may potentially generate new cleavages, anger and political discontent in countries and regions.

As the crisis evolves, gig workers wont be the only ones suffering even more than usual. The International Labour Organization published a high global unemployment estimate of 24.7 million because of Covid-19 in mid-March; a week later, the head of its employment policy department warned the outcome could be far higher still. By comparison, global unemployment increased by 22 million in the 2008-09 economic crisis. It is also expected that, worldwide, there could be as many as 35 million more in working poverty than before the pre-Covid-19 estimate for 2020.

These statistics send an important message: Protecting workers against the adverse impacts of the crisis is not only about increasing protection for typical jobs. It is also about including and protecting better those working at the margins: non-standard workers in tourism, travel, retail and other sectors most immediately affected, dependent self-employed persons with unstable incomes, zero-hours workers and low-paid workers in precarious working conditions who stand to gain little from the various countries latest packages of emergency measures, as recent evidence shows.

Persistent gaps in social-protection coverage for workersin old and new forms of employmentconstitute a major challenge for our labour markets in the post-Covid-19 environment. This matters particularly for the future of the work we want to create in the digital era. We need to facilitate digital work, for the many benefits it can offer businesses and workers. But we must not allow this to assume a form for workersunprotected and socially deprivedtoo common in todays gig economy.

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Next to the deadly human toll, the war metaphors which have been recently invoked by world leaders in the fight against Covid-19 reveal an uncomfortable truth. We are confronted with the flaws and fundamental weaknesses of our labour-market and social policies, solidarity mechanisms and models of collective responsibility for managing the risks that weigh unfairly and gravely on the most vulnerable citizens.

What can be done? A more expansive, resourceful and inclusive recovery is crucial, so that the impact of the Covid-19 crisis on labour markets becomes less far-reaching. We need to make our digital future immune to the virus of precarity, with our labour markets built on the principle of human dignity and the potential of decent digiwork for all.

This is a vision of full participation in a digital-work future which affords self-respect and dignity, security and equal opportunity, representation and voice. It is also about defining a digital responsibility by default modelan entirely different mindset in society as to the role of governments and the private sector, in ensuring labour standards are updated to respond better to the evolving reality of digital workplaces.

In these tragic circumstances, there is a lesson for the future: the experience of gig workers shows going digital means more than just shifting channels. It is about refitting our labour markets, social-protection and welfare systems and making sure everyone has the ability to realise the human right to social security in the post-Covid-19 digital era. No society and no organised democracy can afford to ignore the vulnerable situations of workers who have few social protections yet are critical in a crisis.

Done right, we can shape a fair future of work. More than ever before therefore, the message for policy-makers, employers, workers and their representatives is straightforward: prepare for the next day. Bring precarious digital work into the realm of social protection. Take action for decent digiworknow.

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The future of work in the post-Covid-19 digital era - Social Europe

The desire of every successful business owner is to extend the life of their business beyond the first generation. Although this desire is a common desire. It fails 90 per cent of the time. According to global research, only 10 per cent of family businesses will celebrate their 100th year anniversary. This massive death of businesses is due to the loss of certain critical assets you will discover before the end of this article. But before I show you these assets, let me first show you how these assets are formed.

The process of building a successful business from scratch does something to the founders of businesses that transforms them from ordinary men to extraordinary men. These extraordinary men develop certain abilities on their journey to wealth. That makes them reservoirs of critical assets that must be transferred to the next generation. The loss of these assets is the reason why successive generations fail. When the founders of businesses die without transferring these assets a death sentence is cast on the business.Businesses that stand the test of time reproduce these seven assets in the next generation. It is the timely transfer and development of these assets. That transforms successive generation from consumers of wealth to producers of wealth.

So, what then are these seven assets?The seven assets are as follows. First is a wealthy mindset. Second, is unshakable values. The third is a good reputation. Fourth is a personal philosophy. The fifth is a personal longevity health habit. Sixth is wealthy relationships and the seventh is a profitable business asset. To understand how each of these assets affects business longevity, lets look at them in more detail.

First, a wealthy mindset. Founders of businesses have a certain way of thinking that is uncommon among ordinary men. This unique way of thinking is what supports the creation and preservation of wealth. Some of the critical elements of a business owners wealthy mindsets include-an undying belief in possibilities and confidence in their abilities, a never quenching hunger to solve problems, a selfless act of service and so on. While ordinary men see impossibilities, barriers, and limitations, successful business men turn impossibilities to possibilities. For successive generation to preserve the family business, they must develop a wealthy mindset.

Next is a set of values. Successful business owners commit to a certain set of values that guides their business decision and their interactions with other men. These values are self-imposed and direct how they do business. Although these values are sometimes challenged by the business environment, they are prepared to defend it and pay the price. They pay the price because they know that paying the price is easier than violating their own values. A good example of value that is common to successful business owners is integrity. Integrity is not perfection, but the ability to integrate ones words, deeds and actions. Extraordinary business men stand for something and successive generations must develop their own values.

Next is reputation. Reputation is the public perception consumers have about a business and the respect they have for the business leader. A good reputation is built over years of sacrifice, sweat and tears and must be guarded with care. To ensure the long-term profitability of a business, successive generations must know how to lift a good reputation and what not to do to a good reputation. Reputation is the consumers own reality and it must be guarded with care.

Next is a personal philosophy. A personal philosophy is a series of conclusions a person makes from their own life experience and their understanding of the world. Business owners have a well of experience they can draw conclusions from to benefit the next generation. These conclusions can serve as guiding philosophies for the next generation. Examples of great philosophies that will benefit the next generation include: A difficult decision-making philosophy; a crises management philosophy; a business partnership philosophy; a family unity philosophy, a lasting marriage philosophy and so on. Leaving the next generation with a pocket of philosophies will cut-down the repetition of wealth dissipating mistakes.

Next is a personal longevity health habit. The greatest asset in life is health. Losing a family or critical business member to preventable sicknesses and disease due to unhealthy lifestyle choices is the greatest tragedy in life. It is unhealthy for a family and unprofitable for a business. Although life is limited in years. Its length can be negotiable. Life can be extended through deliberate good health habits. Business leaders must thus create a culture that promotes the longevity of life. This is the only way to preserve the human capital that drives a business.

Next is a wealthy relationship. To get to a certain level in business. Business leaders sought the help of other people. This means that every successful business leader has valuable networks that is beneficial for the next generation. But these relationships will not just pass on to the next generation. They have to be deliberately cultivated and nurtured. Successive generation must know how initiate new relationships nurture existing ones and extract value from them without the continuous nurturing of valuable relationships. It is hard for the next generation to lift the business beyond the laurels of its founders.

And last but not least is a profitable business asset. Not all businesses are assets. Certain businesses if critically analysed by an independent investor are liabilities. Dumping a liability on the next generation is cruel. To pass on businesses that will last, business owner must analyse their businesses through the eyes of an investor and they must also see successors as investors who can accept or reject a business.

Building a business that will last for many generations is not an easy feat. While it takes one extraordinary business man to build a successful business, it takes the collaboration of many extraordinary business men across multiple generations to keep a business breathing.

BioGrace Agada is the First indigenous Family Business Longevity and Legacy Expert. With unique expertise in helping Self Made Business Men Transition from Vanishing Mortals. To Men with Indestructible Name, Wealth and Legacy. Graces philosophy is simple. Successful Business Men do a lot of good in the world.

This good should Expand. Receive great recognition and extend beyond their lifetime. Her goal is to help Family business Men Eliminate factors that disrupt and murder Businesses. Discover, Own and Dominate New Emerging Market Opportunities. And reinvent their Businesses to last for up to 100 years. To learn more about how Grace can help you send an email to info@createsolidwealth.com.

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Extend Your Business Life with These Seven Assets - THISDAY Newspapers

New research among more than 7,000 business executives, HR leaders and employees across sixteen geographies has identified the four most important global HR and human capital trends for 2020 and 2021.

According to the research by Mercer, the four top trends have already increasingly been shaping the face of the human resources landscape for a number of years, but these are now accelerating in importance amid the Covid-19 pandemic and its impact on economy and society. The trends are ramping up changes in the way organisations globally are working and will continue to work into the future, stated the report.

With a new, more responsible mandate emerging, the challenge for business is to rethink what makes corporations successful. Although 85% of executives agree that the organisation's purpose should extend beyond shareholder primacy, only 35% deliver on a multi-stakeholder model today.

The majority of the C-suite agrees more needs to be done: 68% of executives want to accelerate progress on environmental, social and governance (ESG) metrics in 2020, and 69% believe HR should update its success models to reflect the experience economy. However, with responsibility for many ESG metrics and culture change outcomes sitting primarily with HR (71% of CHROs shoulder the responsibility for culture change, compared with between 16% and 29% of other executives), more shared responsibility is required.

Much of an organisation's success depends on employees trusting that their company is taking a holistic view of their careers, wealth and well-being. Yet career pipelines have tightened in recent years. As many as 72% of older workers say they plan to work past retirement age and 55% of Gen X say longevity in the workplace is limiting progression. Gen Z also want more transparency on the effect of career choices and the long-term outlook.

An intriguing finding of the 2020 HR Trends report is that employees who know the lifespan of their skills feel more positive about the future. Employees whose companies are transparent about which jobs will change are more likely to be thriving (72% versus 56%).

As the Covid-19 pandemic impacts productivity, better management of older workers and good financial advice for all generations will be part of creating shared value. More than three-quarters (78%) of employees want long-term financial planning initiatives. Meanwhile 75% of employees who feel in control of designing their retirement say they are thriving, compared with 29% who lack the control they desire.

Yet, with just 23% of companies providing financial education for employees today, there is a long way to go. Pandemic-driven disruption demands that organisations urgently rethink financial support and ensure that decisions include both economic and empathetic considerations (a balance that only 37% of employees say their company is currently well equipped to do).

With 99% of organisations saying they want to embark on transformation in 2020, and almost all reporting significant skills gaps, the C-suite regards reskilling as the top talent investment capable of driving business success. Workforce capability and lack of future skills are seen as primary reasons why transformations fail, and reskilling is one of the investments they hope to maintain in a downturn. Just 28% identified cutting back on reskilling initiatives as a tactic to mitigate economic softening.

Employees also see reskilling as an emerging part of the deal (rising in importance as an attraction and a retention driver this year). And although more than three-quarters of employees say they are ready to learn new skills, two in five say they lack the time to take advantage of reskilling. In this respect the Covid-19 pandemic may offer the opportunity required to kick-start reskilling. Some business areas will have more time to spare, and firms can take advantage by directing those employees toward online learning courses and career exploration.

However, just 34% of HR leaders are investing in workforce learning and reskilling as part of their future of work strategy. Moreover, 40% of HR leaders do not know what skills their workforce possesses. This can be regarded as a worrying lack of insight, given executives gut feeling that less than half (45%) of their workers are capable of adapting to the future of work.

Without redesigning roles and career options for those at risk of displacement, HR cannot address firm-wide needs to fill new roles with reskilled internal talent. The concern is that without an integrated approach to strategic workforce planning (which takes account of how skills may change) and limited data on existing skills, companies may inadvertently lose valued talent. Long-term planning would enable firms to imagine brighter futures for their employees and boost their competitiveness once economic conditions improve.

The good news is that the workforce science discipline is gathering momentum. The use of predictive analytics has nearly quadrupled in five years, from 10% in 2016 to 39% today, and the use of metrics on pay inequities and total rewards usage has more than doubled.

That said, insights into workforce management could be adopted more widely. Only 43% of organisations use metrics to identify employees likely to leave, 18% know the impact of pay strategies on performance, and just 12% use analytics to correct inequities and prevent them from recurring. Moreover, in the current disruption are companies looking in the right places to ensure sustainability? Only 24% have data on who is at risk of burnout and only 15% can determine whether it is better to buy/build/ borrow employees.

The next wave of maturity requires HR to lean in to structure analytics such that it can answer key strategic questions, like: In a downturn, which strategy offers the best chance of maintaining performance? Which departments could deliver a similar level of output with more contingent staff? Where should we locate talent hubs to take advantage of skilled talent pools?

In parallel, advances in machine learning continue to filter through departments, including HR. Although machines outperform humans at tasks related to scale and speed, humans still outpace machines in sense-checking and judgment Sixty-seven percent of HR leaders are confident they can ensure AI is not institutionalising bias. However, ethics codes about the collection, application and implications of data analytics are still in their infancy.

Talent assessment is an area where human intuition is needed alongside psychometrics to qualify findings. Today, only one in two employees have a positive assessment experience. This is just one example of data collection that will attract more scrutiny as data-informed decision-making becomes common. Leading companies are on the front foot sharing data-driven insights with employees to help them make health, wealth and career decisions: 38% of organisations today apply intelligent nudging technology to help employees make better choices. Further, exploring relevant metrics and sharing them with employees shows how the new climate of remote working affects productivity.

Delivering on the employee experience is a top priority for HR in 2020. Fifty-eight percent of organisations are redesigning their structures to become more people-centric. Yet only 27% of the C-suite believe their investment in the employee experience will yield a business return. Why? Because executives are yet to be convinced of the link between the employee experience and productivity.

Almost half (48%) of executives rank employees' well-being as a top workforce concern, but only 29% of HR leaders have a health and well-being strategy. Feeling depleted is a worrying trend (particularly for employees in Japan and the UK), and two-thirds of employees globally feel at risk of burnout in the year ahead. Burnout risk will only be exacerbated as employees now balance work with social distancing, remote working, closures and quarantines.

The Mercer study shows that action is vital, given that energised employees are four times more likely to report a healthy, flexible and inclusive workplace. Employees who are energised by their job are essential to transformation agendas: Energised employees say they are more likely to stay, more resilient and more ready to reskill. Energised employees work in cultures that are empathetic, in environments they find enriching, and in work cultures that are both efficient and embracing.

Seamless interactions and better enablement of digital working in times of social distancing have a clear role to play, yet only two in five companies say they are mostly or fully digital, the same proportion as in 2018. This will remain a C-suite priority.

Focusing on the desired interactions between HR and the business is key to unlocking energy and enhancing the employee experience. Delivering on this aspiration requires HR to step out of its traditional functional silos. Despite the benefits associated with a more joined up approach, just 40% of HR leaders say they have an integrated people strategy today.

The good news is that 50% of HR respondents have moved away from traditional structures to meet their businesses' escalating need for agility and 26% say they have built a fluid team to respond to different business priorities. Grappling with stability and agility will be a key theme in 2020.

According to Mercers 2020 Global Talent Trends study, the talent landscape will be disrupted in the coming years as jobs are replaced, new skills enter the labour market and the demands of workers changes. As employers transform to tackle these matters, they should reconsider their companys purpose and their responsibilities to employees and employees future earnings. And, they need to do so while facing unforeseen challenges like the current coronavirus.

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The top HR and human capital trends for 2020 and 2021 - Consultancy.eu