Mercer, a global consulting leader in advancing health, wealth, and career, and a wholly-owned subsidiary of Marsh & McLennan Companies, Inc. (NYSE: MMC), and Fuel50, the leading interactive, cloud-based career path solution, announced today that they have formed a strategic alliance bringing together Mercer’s career framework methodology and consulting expertise with Fuel50’s Career Pathing software to advance the future workforce. This alliance further enhances the Mercer Digital suite of offerings.
“With estimates that only 50% of employees’ skills today will be relevant in 2020, current jobs will require new competencies and recruiting for existing roles will be more difficult. Our strategic alliance with Fuel50 prepares for the future workforce by offering employees a meaningful approach to career planning and by providing organizations with an effective digital process to drive workforce engagement and retention,” said Ilya Bonic, Senior Partner and President of Mercer’s Career business.
According to Mercer’s 2017 Global Talent Trends research, employees that report being energized at work are more than twice as likely to have clarity around promotion opportunities and have managers that coach and develop them. In changing times, this kind of support is difficult to provide without intelligent and responsive career pathing technology.
Fuel50’s Career Pathing solution enables employees to navigate career progression opportunities within their organization. This is done by providing a more intuitive assessment of employees’ current skills and interests, providing talent-matched pathing as well as opportunities for career-growth experiences and job-openings in the organization, assisting hiring managers with talent planning, and incorporating workforce planning intelligence for employees and managers.
“As we help organizations across all industries worldwide plan for tomorrow’s workforce, Mercer is the perfect partner,” said Anne Fulton, Founder and CEO of Fuel50. “Career development, when done well, is about profitable growth for both the employer and the employee. We’re creating an easy, compelling career experience for employees to grow their skills and talents, while allowing employers to grow, retain, and engage their own internal talent market.”
Fuel50’s Career Engagement Benchmarking Research reveals that having sufficient talent to meet strategic needs through integrated career development fuels 70% improved performance on key business outcomes, including engagement, voluntary turnover, and revenue per employee. In addition, the report finds that internal career development and recruiting are directly connected to improved business performance, as indicated by increased revenue growth both overall and per employee.
Mercer delivers advice and technology-driven solutions that help organizations meet the health, wealth and career needs of a changing workforce. Mercer’s more than 22,000 employees are based in 44 countries and the firm operates in over 130 countries. Mercer is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), the leading global professional services firm in the areas of risk, strategy and people. With more than 60,000 colleagues and annual revenue over $13 billion, through its market-leading companies including Marsh, Guy Carpenter and Oliver Wyman, Marsh & McLennan helps clients navigate an increasingly dynamic and complex environment. For more information, visit www.mercer.com. Follow Mercer on Twitter @Mercer.
Fuel50 is cloud-based career pathing software developed by co-founders of the Career Engagement Group, Anne Fulton and Jo Mills. The company’s client base, many of them global Fortune 500, have achieved engagement uplifts of 3%-30% within 12 months of launching Fuel50. Fuel50 directly impacts the career development driver, touching HR, management and individual employees across the business. Learn more at www.fuel50.com and @fuel50pathing.
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