CEO Survey 2026

This article was first published in The Australian on 12 Dec 2025. 

2026 CEO Survey - TAL Group CEO Fiona Macgregor

Fiona Macgregor, TAL Group CEO, recently shared insights with The Australian for the 2026 CEO Survey on the mental health crisis reshaping the workforce, TAL's investment in recovery services, GenAI productivity gains, and policy priorities for Australian competitiveness. 

CEO Survey 2026 Warning of the new workforce crisis: TAL CEO Fiona Macgregor 

Rising mental health issues are becoming a major theme shaping the workforce, says TAL chief executive Fiona Macgregor

Economy

How would you rate the momentum of the Australian economy as we head into 2026? Are cost pressures in your business: increasing/stable/easing? Are you likely to increase, hold steady, or trim your investment spend or employment over the next 12 months?

The Australian economy is evolving and we’re seeing this reflected in our customers’ needs. While cost-of-living remains a consideration, Australians continue to value protection and are holding on to their cover. 

In recent years, the nature of claims has changed significantly, with mental health conditions representing the primary cause of claim at TAL for the fourth consecutive year. This is a theme across the wider life insurance industry, as well as in workers’ compensation schemes. Most concerning is the increase in permanent disability claims for mental ill-health, meaning these individuals are unlikely to return to the workforce. This represents a significant personal toll on those affected and their families, and it also represents a loss of skilled, experienced workers from our economy. We need a thriving workforce, and we think workplaces can play an integral role in supporting recovery. 

The costs of doing business continue to increase due to inflationary pressures and regulatory requirements across the industry. We’re disciplined about managing our cost base and focused on operational efficiencies, both to minimise the impact on customer premiums and to deliver faster, better experiences. 

We’re increasing investment in our claims experience, and in support and recovery services that help customers return to wellness and, where possible, work. When customers contact us, they’re often facing the most challenging moments of their lives. Our investment is focused on ensuring customers receive support that’s both compassionate and efficient. 

Technology 

Which best describes your organisation’s AI adoption? (Exploring/Piloting/Implementing selectively/Scaled across business) If implementing or scaled, are the productivity benefits starting to come through or do you expect more time for the full impact. Has the use of AI started to influence employment decisions across your organisation? 

Over the last year, productivity has been a focus of the GenAI use cases we’ve started to scale. Our claims team, for example, created a GenAI tool to help them rapidly access the information they need to help customers, quickly.  

We’re now operating in a world where customers are more fluent in AI. People are using AI to conduct everyday tasks including researching product options, and the technology continues to evolve rapidly. These shifts in consumer behaviour are challenging us to think about the role of GenAI in supporting customers to make confident choices around their protection and retirement.  

In our workplace, the intersection of technology and talent-driven change is front of mind for us. Our increasingly multigenerational workforces mean AI is a change for some, and native for others. But it’s embedded in the future of work, regardless of where you sit in an organisation or your familiarity with the tech. It’s a skill you need to learn and keep learning (me included) and we’re supporting our people to embrace it. 

People 

Has your organisation evolved its approach to flexible working during the past year? Does your organisation have a policy around office attendance. What feedback, if any, do you have for governments considering prescribing working from home for a set amount of days per week.  

Most of our people split their time between working in the office and working from home. We’re continuing to focus on embedding this blended approach. It’s important there is consideration for the needs of individuals, and also of teams – their rituals and routines – and of the business overall. 

It’s about finding what works for both our people and our business. Prescriptive government mandates don’t help. They remove the flexibility companies need to work through what’s right for their specific business, their customers and their people. 

Reform 

What would you nominate as your top policy priority that can be used to lift Australia’s competitiveness or productivity? Should The Albanese government be pushing for even bolder policies around reform?  

Three interconnected priorities stand out: mental health, retirement system reform, and insurance accessibility for younger Australians. Mental health challenges are an era-defining issue for Australia and our current support system needs to keep evolving for today’s reality. 

We support co-ordinated reform across the mental health ecosystem with public and private sectors working together. Recovery happens when people get the right support at the right time, while staying connected to their community and their work. That’s the journey we want to be part of. 

Retirement reform is equally urgent. Millions are entering retirement with super as their primary income, yet many lack confidence managing this transition and worry whether their savings will last. The Delivering Better Financial Outcomes package will help super funds provide meaningful guidance, but there is an opportunity for bolder thinking to engage Australians in their retirement earlier, not just at the point they stop working. 

Finally, insurance accessibility. Early investment in their safety net will see Australians prosper. Many in our community remain underinsured, particularly younger workers and those in casual or gig employment and our regulatory framework designed decades ago wasn’t designed with them in mind. We’re innovating within current constraints, but modernising the Life Insurance Act would unlock protection for millions currently left behind.