The workplace of the future will be the most diverse the world has ever seen. According to the Oxford Economics report on Workforce 2020, multiple generations working together will have different skills, experiences, habits and motivations.
High performers are more concerned about base pay and bonuses than lower performers and also want more frequent feedback from managers. High performers are slightly less likely to relocate for a better job however, so as companies fight to get those high performers, they will need to consider the relocation packages they offer and make them more competitive.
Ultimately, every business wants to keep their best performers. Understanding what they want and need is critical to future business success.
With advancing technology, changing demographics, and global talent wars, it’s no small challenge to build your future workforce. Successful strategies depend on accurate, nuanced insight into the interplay of many complex factors. To provide this understanding, we asked Oxford Economics to survey and interview more than 5,000 HR executives and employees in 27 countries. The results cast doubt on common assumptions and underscore the urgency of addressing key impediments to progress. Check out these findings with the resources below and prepare to shape the workforce of the future – with the right mix of people, skills, and culture.