April Edition: Gen Z, the future of commodities trading and creating opportunity for Black talent and businesses

In this month’s newsletter, we look at how senior leaders can attract and retain Gen Z’ers, the future of commodities trading, how businesses can support Black talent and businesses and Marsh McLennan Agency’s Matt Martin.

Gen Z: How to attract, retain and engage tomorrow's leaders today

Generation Z (born between 1997 and 2012) presents a unique challenge to employers. This rising segment of the workforce is simultaneously self-reliant and collaborative, but they bring different expectations and priorities to the workplace than their predecessors.

Relative to their predecessors, Gen Z puts greater emphasis on purpose, social injustice and personal fulfilment, and they show less interest in climbing the corporate ladder?or being defined by their job titles. Rather than building loyalty to their employers, these younger workers see work as a means of funding a?more fulfilling life?outside?the workplace?– a way to earn money to fund their real passions.

For senior leaders, this means rethinking their organizations’ approaches to job design and rewards.?So, how can organizations design jobs and benefits packages to meet the needs of Gen Z?? Read more from Mercer Marsh Benefits on how to attract, retain and engage tomorrow’s leaders today.

Commodity trading’s coming of age story

For the commodity trading industry, 2023 marked a year of rebalancing. Supply chains, commodity prices, market volatility and economic growth across regions and sectors began to normalize after the disruptions in 2022. As a result, Oliver Wyman’s analysis shows trading gross margin declined from the 2022 record high of $150 billion to around $100 billion in 2023. Although margin declined, 2023 still ranks as the second-highest level of industry profits, after sustained growth since 2018.

By providing stability to existing supply chains and support for emerging supply chains, traders gained influence in the reconfigured landscape. This position enabled traders to accumulate about $70 billion to $120 billion in cash over successive years of strong performance. With a changing of the guard at the C-suite level across commodity trading firms, those cash reserves provide the opportunity for new management teams to become more impactful long-term investors in the energy ecosystem.

Equity = Possibility at the 2024 Black Leaders Symposium

How can business leaders, employers and individuals help diverse business leaders and owners grow and thrive? That was the central focus of Marsh McLennan’s recent Black Leaders Symposium in Atlanta, GA, where powerful Black executives and C-suite leaders came together to discuss their most pressing business challenges and opportunities.

Featuring inspiring panel sessions and informative discussions on diversity supplier programs, health equity, D&O, risk discrimination through AI and more, this two-day symposium provided a forum for leaders from Marsh McLennan and beyond to address some of the key barriers to equity and commit to providing opportunities and access for the next generation of diverse leaders.

Meet Marsh McLennan

“Prior to my career in Insurance, I spent 34 years pursuing a life in creative writing and sketch comedy. Ten years on, I find myself at?Marsh McLennan Agency?and have never looked back! The best part of my role in Employee Health and Benefits is helping organizations be better and impact the lives of their employees.” –?Matt Martin, Vice President, Employee Health and Benefits, MMA

This month we are featuring Matt Martin, Vice President, Employee Health and Benefits for Marsh McLennan Agency. Based in Chicago, Matt has been with Marsh McLennan Agency and Marsh McLennan for almost two years. Before turning his sights on the insurance industry, Matt focused on writing and acting in comedy, including at Second City Chicago. Outside of work, Matt is engaged in his community, having served on the Associate Board of Mercy Home for Boys and Girls and volunteered at Marillac St. Vincent Family Services, Chicago Scholars and the Gene Siskel Film Center.

Are you already connected with Matt? If not, check out his profile, follow and connect with him to keep up with his latest work and thought leadership. Find out more about Matt and his thoughts on the timing of career transitions here.

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