Britain’s older workers look set to hold the aces in the coming years, according to Friends Provident’s latest Visions of Britain 2020 report, conducted with the Future Foundation.
The report, the second in the Visions of Britain series, unveils the three types of worker who are set to dominate Britain’s 2020 workforce. It shows the workforce will be comprised of; older workers, sandwich-generation workers and graduates. The findings have significant implications for businesses and HR professionals in particular as they seek to create a productive workplace for workers with a range of very different needs.
2020: the age of experience
The ‘grey workforce’ will grow significantly, with an extra 2 million people aged 55 and above in the workplace (7.16 million people compared to 5.14 million today).
The employment experts* consulted for the report agree that a lack of talent and skills shortages in the workforce will ensure that these older workers are more valued in the future than today. In addition, the recession has vividly demonstrated the value of experience, and the research predicts employers will place more of a premium on those with years under their belts.
A challenging decade for graduates
The report also shows that an extra 2.5 million graduates will be forced to resort to more enterprising and innovative approaches to finding work in the businesses of 2020, as the job markets becomes more competitive.
Graduate opportunities in finance and the public sector will decline by 2020, forcing applicants into roles in other sectors such as the creative industries.
Sandwiched by responsibility
Workers who have both dependent children and parents who require care, the ‘sandwich’ generation, will also come to the fore. These workers will require increased provision for flexible working, and this will affect the jobs they choose.
Trevor Matthews, chief executive officer of Friends Provident, said:
“Our new report highlights significant challenges facing three key groups within the workforce of 2020, and shows that each group will have its own unique requirements within the workplace. We believe employers need to develop targeted policies and benefit packages for each audience to manage the needs of an increasingly diverse workforce.
“For older employees, there will be more opportunities in the workplace than ever before; for others, finding the right opportunity will be a significant challenge.”
For further information on the Visions of Britain 2020 series and to download copies of the report, please visit: www.visionsofbritain2020.co.uk
Britain’s older workers look set to hold the aces in 2020, says Friends Provident in its latest Visions of Britain 2020 report, conducted with the Future Foundation.
The report, the second in the Visions of Britain series, unveils the three types of worker who are set to dominate Britain’s 2020 workforce. It shows the workforce will be comprised of; older workers, sandwich-generation workers and graduates.
The findings have significant implications for businesses and HR professionals in particular as they seek to create a productive workplace for workers with a range of very different needs.
2020: the age of experience
The ‘grey workforce’ will grow significantly, with an extra 2 million people aged 55 and above in the workplace (7.16 million people compared to 5.14 million today).
The employment experts* consulted for the report agree that a lack of talent and skills shortages in the workforce will ensure that these older workers are more valued in the future than today. In addition, the recession has vividly demonstrated the value of experience, and the research predicts employers will place more of a premium on those with years under their belts.
A challenging decade for graduates
The report also shows that an extra 2.5 million graduates will be forced to resort to more enterprising and innovative approaches to finding work in the businesses of 2020, as the job markets becomes more competitive.
Graduate opportunities in finance and the public sector will decline by 2020, forcing applicants into roles in other sectors such as the creative industries.
Sandwiched by responsibility
Workers who have both dependent children and parents who require care, the ‘sandwich’ generation, will also come to the fore. These workers will require increased provision for flexible working, and this will affect the jobs they choose.
Trevor Matthews, chief executive officer of Friends Provident, said:
“Our new report highlights significant challenges facing three key groups within the workforce of 2020, and shows that each group will have its own unique requirements within the workplace. We believe employers need to develop targeted policies and benefit packages for each audience to manage the needs of an increasingly diverse workforce.
“For older employees, there will be more opportunities in the workplace than ever before; for others, finding the right opportunity will be a significant challenge.”
