WTW prepared this TMT Futures Report 2022 as part of a 2021 research project undertaken with the Mack Institute’s CIP team at the Wharton School, University of Pennsylvania.
Drawing on both internal and external expertise with insights from key executives in the TMT and broader risk management space, this opinion-based report looks deeper into talent and workforce-related issues raised across the five risk ‘megatrends’ explored in the WTW TMT Futures Report.
To encourage candour and to preserve the privacy of TMT business leaders and other contributors to this report, not all quotes are attributed. However, the quotes, while edited in some cases for clarity and context, accurately reflect their professional insights. We also endeavoured to link cited material, including relevant research conducted by WTW and other organizations, to original sources when appropriate.
Sara Benolken WTW Report executive sponsor
Sara leads the global TMT practice, focusing on developing strategy and creating innovative risk management solutions to meet the critical needs of WTW clients in an expanding digital world. She directs the delivery of product development and advisory services based on future trends, the advancement of technology and the creative spirit of clients in the TMT market segment.
Fredrik Motzfeldt WTW Report chair and executive editor
Fredrik leads the regional TMT Industry Group in the UK. He specializes in the development of emerging and technology-related risk management strategies and insurance program solutions. Fredrik directs research, thought leadership and advisory in areas of emerging risks, including the sharing economy, technology dependency and cyber, and their potential implications on our clients’ business models.
Lucy Stanbrough WTW research lead and editorial support
Lucy Stanbrough is the Head of Emerging Risks Research at the Willis Towers Watson Research Network. Prior to joining the Research Network, she worked for the Innovation team at Lloyd’s on a range of thought leadership projects and market communities, including cyber scenarios, virtual reality, NewSpace, city resilience, synthetic biology, climate-related risks and disaster risk finance.
George Zarkadakis WTW Future of Work and Human Capital and Benefits – subject matter expert and editorial support Dr. George Zarkadakis leads Future of Work in Great Britain and works with clients on workplace transformation due to the impact of AI and automation technologies. He has more than 25 years’ experience in management consulting, media, marketing and communications, as well as in digital strategy and innovation. He holds a PhD in AI and is the author of In Our Own Image: will AI Save Us or Destroy Us? (Rider Books, Pegasus Books, Nikkei Business Books, China Citic Press). His latest book is Cyber Republic: reinventing democracy in the age of intelligent machines (MIT Press, 2020).
Shankar Raman WTW Future of Work and Human Capital and Benefits – subject matter expert and editorial support Shankar Raman is a Senior Director and the Global Leader of the Technology Industry Group at WTW. With more than 20 years’ of experience, Shankar has helped organizations around the world improve performance and accelerate growth through more effective strategy execution, capability development and transformation. He also focuses on how companies can attract and retain technology talent more effectively.
Shankar’s expertise spans a broad range of strategy, organizational and talent transformation work, and has contributed as a researcher and a reviewer to Higher Ambition – How Great Leaders Create Economic and Social Value written by Beer, Eisenstat, Foote, Norrgren and Fredberg and Conquering the Chaos written by Ravi Venkatesan, former Chairman of Microsoft India. Both books are published by Harvard Business Review Press. Shankar has also written on topics related to digital transformation and has written for WEF.
Michiel Klompen WTW Global Digital Product Lead - subject matter expert and editorial support
Michiel Klompen is a strategic reward professional and leads WTW's digital products designed to help organizations understand the impact of digital skills on pay. In his role, he advises organizations on HR topics related to attracting, retaining and engaging digital talent. Michiel works with both international corporate organizations and scale-ups to design a compelling career experience and to structure and realign total reward strategies to new ways of working with a focus on skills.
Michelle Alvarado, WTW TMT Project Management Lead
George Haitsch, WTW TMT Centre of Excellence Leader, NA West
Andy Marut, WTW Managing Director, Client Management
Karl Sawyer, WTW TMT Industry Specialist, sharing and gig economy
WTW (NASDAQ: WLTW) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has 45,000 employees serving more than 140 countries and markets.
We design and deliver solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas — the dynamic formula that drives business performance.
WTW’s TMT practice is innovative, experienced and global. With seven Centres of Excellence in North America, Europe, Asia and Latin America, our global team is designed to understand rapid and complex changes facing the TMT sectors. We leverage powerful insight and innovation to deliver globally consistent service.
Powered by market analytics and behavioural insight, our integrated teams reveal hidden value within the critical intersections of our clients’ organizations. We are committed to designing and delivering solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals.
We’re skilled in the complex TMT marketplace, and experienced in exposures associated with global broadcasting, foreign manufacturing, supply chains, outsourcing, and cyber risk, along with intensified government scrutiny and regulations.
Client advocacy: We foster an entrepreneurial and proactive spirit to ensure that we provide value-added insights and best practices to influence client outcomes. We understand our clients’ unique business model and risk appetite, and develop solutions with the best tools, markets and terms. Strategic planning and program design: Market updates and collaboration with clients on renewal goals. We leverage leading analytics to determine optimal limits, retentions and structure to design programs that specifically meet their short and long-term goals.
Marketing: Our practice has extensive capabilities in creating streamlined submissions and the capability to negotiate terms, coverage and pricing. We focus on effective collaboration globally to ensure optimal client outcomes.
Placement implementation: We leverage our knowledge and experience in the tech, media and telecom industries to review policies for accuracy and to ensure that appropriate enhancements are made.
Client advocacy: We foster an entrepreneurial and proactive spirit to ensure that we provide value-added insights and best practices to influence client outcomes. We understand our clients’ unique business model and risk appetite, and develop solutions with the best tools, markets and terms.
Strategic planning and program design: Market updates and collaboration with clients on renewal goals. We leverage leading analytics to determine optimal limits, retentions and structure to design programs that specifically meet their short and long-term goals.
The Mack Institute’s Collaborative Innovation Program connects students with business leaders and researchers in the study of innovation management and its practical application to address challenges. We would like to thank Femi Brinson, Aleeza Hashmi, and Julia Maltby for their support with this TMT Futures report.
