“Ask yourselves:
Are our employees showing signs of satisfaction or burnout?”

• “85 million jobs will disappear, 97 million new ones will be created.”
• “Mental health is now becoming a major priority for many companies.”

Reskilling demands, massive quiet quitting, and the radical disruption of AI are but a few of the challenges facing organisations going forward. According to the world economic forum, we are going into a talent shortage right now. By 2025, it is estimated that 85 million jobs will disappear. 97 million new jobs will be created. 50% of the global workforce will have to reskill. Supporting employee mental health is now becoming a major priority for many companies. “We need to have positive outcomes, both for the employee and the organization”, Hemlata Sadna Sewraj-Gopal, Second Deputy Governor of the Bank of Mauritius, said in her keynote address at the HR and CEO Summit. 

The HR and CEO Summit 2024, held last Thursday, featured a keynote address by Hemlata Sadna Sewraj-Gopal, Second Deputy Governor of the Bank of Mauritius, which underscored the transformative changes in the workplace. She focused on the critical role of continuous learning, employee well-being, and sustainable practices in shaping the future of work.

She began by reflecting on a recent graduation ceremony she attended, highlighting the importance of lifelong learning. “We said to the youngsters, to those graduating, well done. In your career path, you will, however, be required to come out of university and keep learning throughout your career. This is what we see and this is what we are going to expect going forward,” she remarked. 

She emphasized the growing integration of artificial intelligence (AI) in the workplace, suggesting a shift towards more creative roles for employees. “We need to adapt, reskill and rethink processes, but also use this opportunity to increase the value-addition performed by employees. I mean using AI to do repetitive jobs and having more creativity work being undertaken by our employees,” Mrs. Sewraj-Gopal explained.

The Deputy Governor also highlighted the importance of employee well-being, a priority, especially in the wake of the COVID-19 pandemic. “COVID-19 has not only changed the way businesses operated, but the unprecedented work-life integration and the social distancing has also had a transformational impact on employee experience,” she noted. This transformation demands that organizations explore creative solutions beyond traditional norms, focusing on holistic wellness, safety, and flexibility.

A significant portion of Mrs. Sewraj-Gopal’s address focused on the challenges of burnout, particularly in high-pressure industries like finance. “It is important to ask yourselves: ‘Are our employees showing signs of satisfaction or burnout?’ Burnout is not just a minor hassle. It can harm overall performance, increasing absenteeism and costing businesses. I also believe that the support system of employees should not be undermined. Supporting employee mental health is becoming a greater priority for many companies, since its benefits have such a profound effect on both worker and organizational performance. We need to destigmatize mental health, and create new commitments for the hybrid workplace that we have. These commitments around well-being, around inclusion and flexibility, they underscore the belief that work is not ‘where you go, but what you do to deliver results’, leading to a profound sense of belonging”, she emphasised.

The Deputy Governor shared a personal anecdote from the Bank of Mauritius, where a wellness initiative involving gym memberships was met with unexpected enthusiasm. “I was quite sceptic about it, and I didn’t believe that it would be such a good initiative… But to my surprise, nearly 180 staff have enrolled on this program, and I find the staff coming to thank us and being more enthusiastic about it,” she shared, illustrating the positive outcomes of prioritizing employee well-being.

Mrs. Sewraj-Gopal discussed the shift towards hybrid work models, a trend accelerated by the pandemic. She highlighted the benefits of such models, including improved employee well-being and productivity. “Some companies, today, have implemented a combination of days at home and days at work. Studies have shown that this has led to more employee well-being and morale at work,” she noted.

Addressing the broader challenges of talent shortage, reskilling, and the impact of disruptive technologies like AI, she emphasized the need for HR professionals and CEOs to manage these transitions effectively. “We all talk about AI nowadays. It’s what we call the disrupting technologies. Organisations have invested in the development of AI to not only reduce the cost, but also to improve their products and services to their clients, as well as to enhance customer experience,” she stated. The banking sector in Mauritius, she noted, has embraced AI for various applications, including cybersecurity and fraud prevention.

The address also touched on Green HR practices, advocating for sustainable approaches in HR operations. Mrs. Sewraj-Gopal emphasized the importance of employment security, open communication, and teamwork in fostering a positive and productive workplace culture. “We need to foster open communication. I think this is a very important area where employees need to be candid. They need to be encouraged to share their ideas and innovation,” she said, stressing the role of a learning culture in engaging younger employees.

Diversity, Equity, and Inclusion (DEI) were highlighted as essential components for organizational growth and relevance. “Initiatives and actions have to be brought to the organizations to address workplace biases, discrimination, harassment and disparity,” she asserted. As a member of the National Committee of Corporate Governance, she encouraged organizations to adopt the Diversity, Equity, and Inclusion Charter to foster a more inclusive and sustainable business community.

Concluding her address, Mrs. Sewraj-Gopal quoted Lawrence Bossidy, emphasizing the importance of hiring and developing people. “At the end of the day, you bet on people, not on strategies,” she reminded the audience. She thus urged HR professionals to embrace transformation with empathy, flexibility, and openness, setting the stage for a future-oriented workforce.