Baby boomers have contributed much to expatriate activity worldwide and their retirement will remove a sizeable chunk of the existing mobile workforce. Unlike the boomers generation X, Y and Z travelled extensively before beginning their careers, decreasing their interest in an overseas work posting. So when you’re considering your company’s position in global markets consider where new mobile employees will come from.
The Generation Gap is getting wider: motivational triggers between generations are quite different. Employers are going to need a multi-faceted employment proposition that includes reward, career plan and lifestyle features to encourage these new cohorts to come, stay and commit to working in your organisation let alone in a foreign location, for any length of time.
No Longer a Job for Life and a different standard of loyalty. Boomers were content to work for the same organisation for their entire career, but were not always shown the same loyalty when times got tough. Because they witnessed their parents suffering retrenchment and redundancies younger generations do not feel the same obligation to remain with the same company if it does not suit their (frequently changing) plans. Organisations must therefore deal with a transient workforce, less susceptible to traditional retention incentives.
Contact The Human Well to learn more about these trends and update reward programs to be more attractive. It is time you started planning for change to demographics in your mobile workforce.