Effective HR strategies are going to be crucial in attracting and retaining elite talent in the next decade.

Friends Provident’s ‘Visions of Britain 2020’ report, in conjunction with consumer and business company, The Future Foundation, says the ‘elite worker’ will be increasingly valued and sought after by companies.

The report says a polarised workforce along with fewer foreign workers in the workplace will produce an ‘elite worker’ (employees in technical, professional and managerial roles), placing new demands and expectations on employers.

And HR will have to become more strategic to attract and retain this workforce, who will be vital to the future performance of businesses, according to Gillian Fox, HR director at Friends Provident.

Fox says: “By 2020, the balance of power between employees and employers will have shifted in favour of elite workers. This means employers will require more robust and rigorous HR strategies to shape the future success of the business. Only by fostering a culture that truly allows talented employees to prosper will employers be able to attract, recruit and more importantly retain this powerful band of employees.”