n HR Future - Remuneration trends and predictions for 2020 - remuneration

Volume 2019 Number 12
  • ISSN : 1608-8506


The work world has shaped up to be more competitive and diverse than ever. The rise of human rights and globalisation has shaped a work world we could never have imagined just a few decades back. Remember the time (if you were part of that time) when cell phones didn’t exist? That wasn’t so long ago, but now, focus has even been shifted to mirroring human brain functioning in robots so that they can feel empathy and make moral decisions. As the world speeds up, we need to speed up with it and that is why remuneration is all the more important. Research has shown that the average employee remains in a career for an average of 4,15 years. Research has also shown that, with the older workforce slowly moving on to retirement, the younger generations are more fixated on remaining employable. This means that they value education, rather than job security. With job security slowly falling away, this also means that the average employee relies on remuneration to get by – as today they might have a job, but tomorrow they may not. Thus, contractual work with enticing pay is also a buzz. However, there is no “one-fits-all” approach when it comes to remuneration. With a workforce growing in diversity of age (as people have begun taking a longer time to retire) and race, as organisations value input from every party to mirror the diverse global world, those who follow the remuneration trends are usually the safest.

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