Over half (54%) of UK businesses feel that retention will become as a big a challenge for businesses as recruitment over the next ten years, according to recruitment firm Capita Resourcing. Nearly three-quarters (73%) also think employees are becoming more demanding and aware of their skills.
The Workforce Horizons study combines a survey of 200 HR professionals with in-depth interviews of 10 leading HR experts. It found that 94% believed that it is important to engage with the very best talent even before a position is available to them. The results signal a subtle but significant power shift from employer to employee, which is only set to accelerate even further over the next decade.
Most organisations are falling behind employees in realising the importance of a brand, with only 18% of those surveyed having developed an employer brand. Fewer still (11%) have commenced training to develop their value proposition for the employer brand.
The survey also found that 92% of HR professionals believe employment flexibility (to include a wide mix of ‘total reward’ elements such as working from home or part-time) will become the most important factor for employees in determining the suitability of a future employer. Only 8% of the workforce, however, currently work on a flexible contract meaning a significant shift needs to occur to meet demand.