Aon, we need to rethink human capital in an integrated way

(Il Sole 24 Ore Radiocor) - In an era of unprecedented changes in the behaviour and expectations of the workforce, companies are called upon to 'rethink human capital in an integrated manner', overcoming 'the fragmentation of traditional HR models based on separate levers'. Today we need to "evolve towards an integrated ecosystem in which welfare, wellbeing, health, talent and retirement work together to support the entire work life cycle with a view to attraction, growth and retention, in a market phase in which people demand more support, more clarity and more value". This is what Cecilia Exacoustos, Head of Health&Talent at Aon, highlights, explaining that the increasing complexity of the economic environment, the rising cost of health, future skills challenges and a general repositioning of employee expectations are forcing leaders and companies to redefine their 'people strategy'. According to Aon, the lack of an integrated model is one of the main factors of ineffectiveness of organisations: for example, 60% of companies do not have a good system for measuring the impact of 'Total Rewards' (a set of remuneration systems that includes all compensation, benefits and rewards). "But without measurement there is no strategy," explains Cecilia Exacoustos. This requires 'a human capital model based on an integrated view of products, solutions and technologies, with a data-driven approach, which translates the emerging needs of employees and the economic challenges of companies into practice'.

In this scenario, Aon is launching the 2026 Human Capital Trends Study: "a concrete opportunity to bring the perspective of Italian companies on AI, future skills, total rewards, wellbeing and pay transparency", highlights Exacoustos, explaining that, in a context marked by "the Hustle Reset", with 60% of workers intending to change role within a year,reliable data is needed for better decisions". Therefore, "we invite HR leaders to fill out the survey by 31 December: those who participate will receive the report in advance in the first quarter of 2026, with country and sector benchmarks useful for planning in 2026".

Access to real flexibility, all-round wellbeing, continuous development for career evolution, stronger financial security in times of extreme volatility, greater pay transparency and benefits. These are the new employee needs that emerge from the Employee Sentiment Study Italia 2025, conducted by Aon.

In detail, 20% of employees want more flexible working hours while work-life balance programmes are the second most appreciated benefit in Italy. Of all the needs expressed, the health dimension stands out as central in the country. Health coverage is the most appreciated benefit of all: 49% of employees believe that the employer has a duty to actively support their well-being. The issue of the lack of professional development courses also stands out, with 41% of respondents not feeling supported in developing the skills they need for the future of their jobs. The pension issue, then, is an emerging need: 50% would invest in sustainable pension funds if they produced performance equivalent to other instruments. As for wages, only 37% of employees consider their pay to be fair compared to the market, while 30% do not perceive pay equity between genders.

Aon's Future of Total Rewards Report shows that physical, mental and emotional wellbeing programmes will increase companies' future competitiveness. Furthermore, the high increase in healthcare costs is pushing companies to find a more strategic balance between health protection, economic sustainability and perceived employee value. As for flexibility, 23% of companies recognise that their benefits still do not offer enough choice, while, on the skills front, 50% of employers admit that they are not effective in developing their talent, while, 42% expect a shortage of qualified leaders in the next four years. These numbers, points out Cecilia Exacoustos, 'confirm that the ability to attract and retain talent will increasingly depend on clear growth paths, better prepared leadership and consistent development systems'. Faced with multiple people needs, "people leaders need to review the way they allocate resources and design their HR models". 4.5 per cent of Total Rewards costs will be invested differently than today: companies are shifting from generalised pay increases to more performance-based pay differentiation and reducing investments in incumbent programmes that do not generate perceived value. 36 per cent of companies say they are not managing their HR programmes as effectively as they should, highlighting the need for more integrated, data-driven decision-making models. A clear message emerges from the data collected: "the companies that will be able to sustain growth in the coming years will be those capable of building an integrated human capital model, based on the real needs of people and the ability to measure the impact of choices. People Leaders today have the opportunity - and the responsibility - to lead this cultural, economic and organisational transformation'.