June Edition: A skills-powered future, the New Monetary Order and Pride Month

In this month’s newsletter, we look at why organizations are building skills for an AI-powered future, the changing financial landscape under the New Monetary Order and Pride Month.

Skills-power organizations in an age of AI

As technology advances, organizations must adapt to new work options like GenAI, machine learning and automation. But to succeed, these companies will need the knowledge and skills to strategically deploy and effectively use these technologies, while also understanding their impact on human work.

Confronted with this challenge, many organizations are rethinking their operating models and asking how they can reinvent themselves around the fast-changing skills marketplace. Forward-thinking leaders are already pioneering new solutions and models where skills have become the real currency of work, realizing there are benefits for both employers and employees in a skills-powered approach.

Discover how organizations can create both the means and the enthusiasm to propel the skills-powered transformation they need in 美世 's latest paper with MIT SMR Connections.

What bank managers need to know about the New Monetary Order

After 12 years under the "low for long" monetary policy, we’re now entering a new monetary order that will present significant new risks and opportunities to the financial sector and broader business community. As with any major transition, business models that were adapted and optimized to the previous low-interest environment may fail in the new context.?

In a new interview, Oliver Wyman Partner Douglas J. Elliott shared three key considerations for bank executives to bear in mind when managing their organizations through this transition:

1. Consider the core assumptions you've been operating under. Some of those were valid under low for long but not moving forward.
2. Recognize the future is extremely hard to predict. Banks should focus on scenario analysis, taking into account all possible futures and developing strategies that allow for flexibility based on what the future brings.
3. Look for cheap optionality. This is partly a financial strategy (protecting against volatility), but it's also business strategy. Banks might want to put relatively small investments in a number of initiatives that can be ramped up quickly.

Hear more from Oliver Wyman on how the financial industry can manage the transition from low-for-long rates to the New Monetary Order.

Meet Marsh McLennan

“Observing Pride Month is important, because it provides an opportunity to celebrate and recognize the LGBTQ+ community, their contributions and the progress made towards equality.” –?Ntsako Chauke, Consultant, Marsh

This month we are featuring Ntsako Gershom C. , a 达信 consultant based in our Johannesburg, South Africa, office. Nstako joined Marsh McLennan via a rotational graduate program, where he was able to gain experience and visibility into different business areas before pursuing a more specialized track of consulting.

While Ntsako is early in his career, he is driven by a passion for creating positive change and fostering an inclusive workplace culture. In addition to participating in Marsh McLennan’s Pride Month 2024 program , Ntsako is an active voice in our Africa Pride Colleague Resource Group and served on @myGwork's IDAHOBLIT 2024 panel to discuss the experiences of LGBTQ+ people and the challenges they face.

Are you already connected with Ntsako? If not, check out his profile, follow and connect with him to keep up with his latest work and thought leadership.

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