How to build lasting organisations of tomorrow

Welcome to KPMG Insights, a monthly newsletter capturing the top business trends and insights you might have missed this month.

August is often a time of retrospection on Singapore’s progress, as it is of renewing the pledge to build a better future. Change and uncertainty are an inescapable reality for societies, but with grit, gumption and good governance, the Republic has worked its way to becoming one of the most prosperous and innovative nations in the world.

What will the next era of nation-building look like? And how can businesses seize the next leap of growth while navigating market uncertainty and the relentless pace of digital disruption? In this issue of KPMG Insights, we home in on three key focus areas: applying an environmental, social and governance (ESG) lens to nation-building; adapting to changing expectations of work; and opening doors to new forms of collaboration.

Before diving into our stories, check out how AI envisions Singapore will look like in 100 years.

Sustainability meets skyline

Singapore’s skyline is no stranger to world-famous, gravity-defying landmarks. And the nation is set to see new buildings soaring to greener heights as ESG rises to the top of corporate and community agendas. We have awe-inspiring gardens in the sky today, bridging innovative architecture and biophilic elements found in nature. Yet, more can be done to decarbonise the built environment and embed sustainability into design and infrastructure.

In our 2023 Global Construction Survey, we share key perspectives and insights from engineering and construction (E&C) companies around the world on the rising influence of ESG and its potential benefits:

1. Companies see improvements in reputation, capital access and competitive advantage.

1. Industry respondents consider safe, inclusive sites key to attracting a wider range of workers.

1. A failure to meet growing regulatory pressure for sustainability could impact access to and push up the cost of capital.

Read on to uncover opportunities and challenges in the E&C journey towards net zero.

Great work expectations and what they’re worth

Can employers adjust to shifting employee expectations without impacting their bottom line? With global events of recent years changing work patterns, arrangements and management, one thing is for sure: work is not returning to what it once was, and neither are workplaces.

In our report, we explore how changing talent expectations are impacting the labour market and business sustainability. From greater flexibility, autonomy and work-life balance to more inclusive and collaborative spaces, find out what employees want — and what you can do to meet them there.

Here are some key findings:

1. More people are looking beyond basic remuneration for holistic packages that also value flexibility and personal growth.

1. The rise of remote work requires a closer eye on local employment laws and compliance.

1. Global nomads and long-term overseas assignees see value in international pension plans.

1. Employees increasingly want to be valued for their growth — both on a professional and personal level.

Read more here.

Tomorrow’s cities, powered by teamwork

As our way of life and worlds of work continue to be reshaped by disruptive changes in technology, climate, geopolitics and demographics, we will need to develop new solutions to growing challenges — at scale and greater speed, while remaining economically viable. No single company, government agency or knowledge institution can possibly provide such solutions on its own.

These solutions call for a new way of looking at innovation. Find out how open innovation ecosystems and living labs can help us connect the dots.

Read more about how they can help solve some of society’s biggest challenges through the power of public-private problem-solving and co-creation.