Is Australia ready for Workforce 2.0? Global Talent Trends 2024 Australia 

Productivity poses a growth barrier for many organisations. However, our study highlights an opportunity to leverage artificial intelligence (AI) to unlock capacity and cultivate thriving workforces. We surveyed over 600 Australian executives, HR leaders and employees and their responses contributed to this year’s Mercer Global Talent Trends study.

One in four (24%) executives believe they will struggle to meet this year’s business demand with their current talent model. While the majority view AI as the solution, with 58% predicting AI will deliver productivity gains of more than 30%, two-thirds express concerns about implementing new technology without transforming work processes.

Meanwhile, less than a third (30%) of HR leaders in Australia perceive AI as a means to amplify human intelligence, thereby missing the opportunity to enable higher quality output beyond automation and increased work volume. Additionally, only 16% of employees report that their job has been redesigned to leverage the benefits of these cutting-edge technologies.

Simultaneously, employee expectations have risen. Louder calls for fair pay, improved working conditions for all and reduced environmental impact are rapidly reshaping the employment contract. Eight out of ten workers state that they are at risk of burnout this year, citing workplace stress, unsustainable workloads, "busy work", ineffective organisational structures, and a lack of trust between workers and managers as key factors depleting productivity.

HR plays a critical role in making work better for all, but there is an increased urgency for HR to collaborate with business leaders to drive in the necessary change at the pace required to meet organisational and employee expectation.

Our study this year identified four trends shaping the People agenda in 2024:

Discover the top priorities for HR and business leaders in Australia and learn how leading organisations are embracing the Workforce 2.0 transformation, where achieving more with less effort can become a reality. Unlock human-centric productivity with trust, resilience and a digital-first culture.

_{This content is intended to inform clients of Mercer's views on particular issues. It should not be relied upon or used as a substitute for professional advice specific to a client's individual circumstances. Whilst Mercer believes the prospective information and forward looking statements made by Mercer in this report are based on reasonable grounds, they are predictive in character and may therefore be affected by inaccurate assumptions or by known or unknown risks and uncertainties. This content has been prepared by Mercer Consulting (Australia) Pty Ltd (MCAPL) ABN 55 153 168 140. `MERCER' is a registered trademark of Mercer (Australia) Pty Ltd ABN 32 005 315 917.}