We are all well aware of the term human capital, coined by Edward Schultz in the early 1960s to define the skillset of the workforce in economic terms. But now companies are beginning to recognise the need to consider their workforce as entirely discrete economies to meet board expectations and mitigate risk associated with talent management.
Salary has become more of a hygiene factor for employees when assessing whether they join, stay or leave, with the wider working environment and holistic benefits package increasingly important.There is growing evidence to suggest that the generation now entering the workforce, the so-called Millennials or Generation Y, are placing more emphasis on the softer elements of a work environment and their personal well-being.
It is likely Generation Z will be different again. Meanwhile, for the current workforce, the cut-off point between work and home life is increasingly blurred and many are being persistently challenged with wider financial well-being considerations. And at the same time, technology is driving and enabling change across the board.
The rules of recruit, retainreward are constantly shifting and there is a growing opportunity for employers to not only respond but also to embrace and benefit from these developments.In this report we asked the employees of some of the UK’s most well-known companies how workplace savings and investments play a role in this changing world.
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