93% of business executives plan to make a design change in their company within the next two years. It’s no longer about evolution – to stay ahead, organizations are transforming structures and jobs in a desire for increased efficiency, agility, and customer intimacy. Ensuring that the People agenda is not lost amid the drive for change will be critical to sustainable growth.
Fair & competitive pay and opportunities for promotion are top priorities for employees this year, which is not surprising given the climate of uncertainty and change. But it’s not just about financial results or activity metrics – 97% of employees want to be recognized and rewarded for the wide range of contributions they make each and every day.
People expect their employer to “make work work” for their individual circumstances. Companies are starting to respond by taking a “whole person” approach and increasing the flexible work options available to their workforce – 63% already have a formal flexibility policy in place. Advances in technology are enabling individualized choice without adding an undue administrative burden for HR.
Even with advances in technology that facilitate both collection and analysis of large quantities of data, companies around the world are making slow progress in using analytics to inform human capital decisions. Very few are able to translate data into predictive insights, and nearly 1 in 5 are generating only basic descriptive reporting and historical trend analyses.
Daniel Davey is a Health & Group Benefits stop loss specialty practice leader and currently oversees Mercer’s Stop Loss Center of Excellence. In addition to leading the stop loss specialty practice, which includes the placement of more than $1 billion in stop loss premium each year, he also contributes to a wide variety of projects for clients, including plan design, carrier selection and general strategy development.
Daniel earned a B.S. in Financial Economics from University of Maryland, Baltimore County and an M.B.A. from Rider University. He is currently licensed as a producer in life, accident and health authorities.
David Dross is the national practice leader of Mercer Health and Benefits’ Managed Pharmacy Practice. The Managed Pharmacy Practice works with a broad cross section of clients whose total pharmacy spend is approximately $22 billion annually. He is based in Mercer’s Houston, Texas, office.
Since joining Mercer, David has worked on a cross section of successful projects in the
• Establishment and ongoing management of 2,000,000-plus member Pharmacy Aggregated
• Purchasing Collective options
• Led procurements and contract renegotiations for Pharmacy contracts for large and
• midmarket companies
• Merger and acquisition analysis, including provider consolidation and plan design
David graduated from Vanderbilt University with a degree in Economics. He also has an M.B.A. from the University of Virginia. He founded and was the first president of the Low Country Chapter of the National Association of Health Underwriters.
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