This is a pivotal moment for re-energizing resilience efforts at the national level. In order to secure long term well-being and prosperity, a whole-of-society response is needed in mitigating critical risks and being prepared for crises.Ruth Lux, Head of Public Sector, UK, Europe, Middle East and Africa, Guy Carpenter
Here we are now as a society at this next jumping off point into the metaverse where this is going to transform our lives in ways that are hard to predict. If I had a crystal ball, I would be able to tell you, but it's going to be a different world.Ben Hoster, Director of Transformative Technologies , Marsh McLennan
LinkedIn Live: People Risk and Building Business Resilience
What are the five pillars of people risk and how can businesses apply them to create greater resilience? The 2022 People Risk report gathered insights from 2,600 HR and Risk managers in 25 countries around the world. What we found was that the health and resilience of your people drives the health and resilience of your business. We discuss People Risk and Building Business Resilience with Carolina Klint, Risk Management Leader, Continental Europe, Marsh; Chris Bailey, Business Leader, United Kingdom, Mercer Marsh Benefits; and Amelia Woltering, Global Communications Leader, Marsh McLennan.
BRINK spoke to Alison Byrne and Dr. Ariel Almazan of Mercer Marsh Benefits about how mental health intersects with work and what better support for employees could look like.
BRINK spoke to Alison Byrne and Dr. Ariel Almazan of Mercer Marsh Benefits about how mental health intersects with work and what better support for employees could look like.
Breaking the Stigma: Admitting to Vulnerability and Supporting Our Colleagues
Reflections from Sam Dimond, Global Director on Oliver Wyman's Knowledge Services team:
I hesitated to share this personal story on World Mental Health Day. However, I truly believe that it is important for senior leaders to share our mental health experiences if we are to break the stigma attached. So I’m writing today’s post in the hope that others won’t feel they suffer alone, or that they are somehow strange or different.
I have felt anxious for as long as I can remember. Sometimes that meant that I believed I was bad at everything or not likeable. This didn’t start overnight, but think it got much worse after becoming a father.
Over the next few years there was too often an inner voice that grew louder and louder, making everything seem worse than it really was. In truth, I was excelling in many areas of my life and work and really fortunate, but there was a real danger that that voice was going to ruin everything and stop me seeing things as they really were.
Things came to a head when I got into a vicious spiral of falling asleep every night exhausted but then waking up at 3am, worrying about the days ahead and not being able to get back to sleep.
It is just a really difficult moment for healthcare all over the world. Many hospitals are doing their best to ensure that healthcare workers have good support through mental health interventions. However, this is something that is a bit more existential than we're used to dealing with.Gisele Norris, Managing Director, US National Healthcare Practice, Marsh
Pilots, Pivots and Potential - The State of Aviation
Acute labor shortages and inflation are the two biggest factors impacting the airline industry as it emerges from the pandemic. As the industry continues to recover, airlines and governments face the potential for a global shortage of nearly 80,000 pilots by 2032. How will the commercial pilot shortage impact travel over the next decade and what are the implications? Our aviation experts from Oliver Wyman, Geoff Murray and Khalid Usman, sat down with Arshiya Kapadia, our Global Director of Social Media, for a LinkedIn Live conversation.
This year's report from Oliver Wyman outlines major macro-economic trends, the impact of the geo-political situation with the war in Ukraine and carrier recovery efforts in light of labor tightness and fuel cost escalation.
This year's report from Oliver Wyman outlines major macro-economic trends, the impact of the geo-political situation with the war in Ukraine and carrier recovery efforts in light of labor tightness and fuel cost escalation.
The Pilot Shortage Will Only Get Worse as the Decade Progresses
In early 2021, Oliver Wyman forecast an imminent pilot shortage on the horizon. It seemed an incredible prediction at the time given the state of aviation, which had been almost grounded the year before by the COVID-19 pandemic.
Yet, with the rebound in air travel demand in 2021 and 2022, the lack of pilots quickly became apparent, starting in North America where the shortage is being most acutely felt. Our latest model, in part based on the Global Fleet & MRO Forecast 2022-2032, expects the region to face a shortfall of 8,000 pilots in 2022, about 11% of the total. That gap will grow to more than 29,000 by the end of the decade.
Absent a downturn in future demand and industry efforts to bolster the supply of pilots, travelers should anticipate continued near-term cancellations and delays until airlines are better able to accommodate traffic with scaled-back flight schedules. These would more accurately reflect the size of the pilot workforce and are likely to involve further reductions in service to smaller markets.
The Inflation Shift: Volume 4 | Air Travel and Aviation
Rising inflation is compounding the impact of the pandemic across the aviation industry. Usually inflationary pressures dampen leisure travel, but the leisure-led recovery continues to be strong as people prioritize experiences and take advantage of the summer travel season. The boom has come with some difficult-to-solve complications that are preventing airlines from fully capitalizing on the comeback.
For carriers, escalating costs are putting additional pressures on the industry just as it is rebounding back. Additionally, workforce availability woes abound and have airlines pulling capacity out of the market so they can more reliably operate their schedules. Unfortunately, traveler experiences have been negatively impacted for many, and these labor shortages extend well beyond just the airline and into the airport, hospitality, and restaurant industries.
Volume four of The Inflation Shift examines how inflation is shaping the three big cost categories for the aviation industry – labor, fuel, and maintenance - and what consumers can expect from airlines in the coming months.
As access to space becomes more affordable, private investment in space activity is increasing. But new opportunities could be accompanied by an emerging set of risks.Adam Sturmer, Global Head of Sales, Marsh Specialty Space Projects
Our Marsh McLennan climate experts discuss how addressing socio-economic inequality is the key to building resilience, the role of insurance in disaster recovery and how we should plan before a natural disaster to lower cost and severity.
Our Marsh McLennan climate experts discuss how addressing socio-economic inequality is the key to building resilience, the role of insurance in disaster recovery and how we should plan before a natural disaster to lower cost and severity.
Our updated webtool leverages research from international organizations and academic institutions to provide a global overview of flood risk and its potential implications on human and economic systems under different climate change scenarios.
Our updated webtool leverages research from international organizations and academic institutions to provide a global overview of flood risk and its potential implications on human and economic systems under different climate change scenarios.
The CAT Resource Center from Guy Carpenter provides live event, post event, seasonal outlooks and periodic thought leadership regarding natural catastrophes, including hurricanes, winterstorms, wildfires and earthquakes.
The CAT Resource Center from Guy Carpenter provides live event, post event, seasonal outlooks and periodic thought leadership regarding natural catastrophes, including hurricanes, winterstorms, wildfires and earthquakes.
With more disasters comes a greater burden on responders to help disaster survivors in their time of need. We need to prioritize resilience actions to improve survivor outcomes.Daniel Kaniewski, former Deputy Administrator for Resilience at FEMA, now Managing Director of Public Sector at Marsh McLennan
While climate has a role in certain regions and perils on loss outcomes, I think there's evidence to say that climate change is only one of many factors at play.Jessica Turner , Managing Director, Catastrophe Advisory, Guy Carpenter
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