Human Capital Summit works out the future

About 175 people filled the David Ferguson Hall and speakers were a mixture of those physically present and others remotely on Zoom. It reflected the way many businesses are currently operating, and the topics – covering the economy, sustainability, upskilling and longevity – were timely in a year that has seen unprecedented disruptions.

Bright Futures’ founder Susie Crowder invited Lt-Governor Vice Admiral Sir Ian Corder to open the event.

Drawing on his experiences as director of personal strategy in the Royal Navy, Sir Ian said that businesses, employees and government should share a coherent view for the future of the Bailiwick.

Elaine Gray, partner at sponsor Carey Olsen and president of the Guernsey Chamber of Commerce, highlighted that longevity in Guernsey puts the island in joint ninth place in the world with Switzerland.

She noted that this presents challenges because people’s professional life can last longer, adding that the pool of traditional working age people (20-54) is diminishing locally and businesses need to support an ageing demographic.

Policy & Resources president Gavin St Pier, in his opening comments, stated that the ageing demographic will require people to re-skill, adding that, according to the recent PwC report, an estimated 30% of current jobs would be replaced by artificial intelligence by 2035.

‘There’s clearly a need to prepare young people for tomorrow’s world,’ he said.

Encouraging the younger generation – who were well-represented in the hall – Mrs Crowder told them to ‘follow their dreams’.

She said that for every £1 invested in human capital, £6.50 could be added to the bottom line, illustrating that human capital is the lifeblood of the economy.

A presentation from Scott Johnson of Bloomberg on key economic findings was followed by a panel discussion in which Guernsey’s small size and ability to react quickly and nimbly to events was highlighted.

The second panel discussion tackled sustainability and wellbeing, especially post-lockdown, and included using Pilates and being introduced to the world of horses as ways to increase relaxation and reduce stress.

Keynote speaker Baroness Camilla Cavendish talked about living longer and having an extended middle age meaning people’s working life increased. She used BMW as an excellent example of an employer that had looked to include and enhance the older people in its workforce.