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Digital transformation of small businesses could provide massive economic boost

Digital transformation of small businesses could provide massive economic boost

digital transformationThe new Digital Britain [automatic download] report from Sage claims that over half of Britain’s economic potential from tech adoption is as yet untapped. But ongoing concerns amongst small and medium sized business about cost, skills and knowledge are holding them back from taking on the digital transformation that will ensure their success and provide a massive boost to the economy. The report claims that the use of technology by small and medium businesses (SMBs) contributes £216 billion to the UK economy; but if SMBs unlock the full benefits of technology, this could add an extra £232 billion, boosting the value of tech use to the UK economy by almost double to £448 billion annually. More →

Disabled workers to get their own mentor programme from World Economic Forum

Disabled workers to get their own mentor programme from World Economic Forum

disabled workersThe Valuable 500, which claims to be the largest network of global CEOs committed to disability inclusion, has announced the launch of Generation Valuable, a programme designed to accelerate opportunities for disabled workers to join the boardroom. Generation Valuable plans to connect and incubate C-Suite talent with disabled talent. Over 1.3 billion people across the world live with some form of disability yet, according to Return on Disability, only 4 percent of businesses are focused on making offerings inclusive of disabled people. Moreover, research shows that minority talent faces promotion barricades just below the Executive rung. More →

Economic inactivity hits record high amongst men aged over 50

Economic inactivity hits record high amongst men aged over 50

Economic inactivity levels amongst men aged 50-64 in December 2021 to February 2022 were the highest since records began, according to new analysis from Rest Less. The firms analysed labour market data from the Office of National Statistics and found that economic inactivity levels amongst men aged 50-64 reached 1.47 million in the latest official figures – the highest they have ever been since records began in 1992. The economic inactivity rate amongst this demographic reached a nine-year high and is now at 23.1 percent. More →

Employment opportunities denied to people from low socioeconomic backgrounds

Employment opportunities denied to people from low socioeconomic backgrounds

employment opportunitiesOver 50 percent of UK job seekers from low socioeconomic backgrounds miss out on employment opportunities, claims a study of over 2,200 people. The survey (registration), from EdTec startup Forage suggests that employers must refine their social mobility initiatives to achieve a fair recruitment process for all. More →

Public concerned about risk of unemployment, day to day living costs, and economic growth

Public concerned about risk of unemployment, day to day living costs, and economic growth

publicA large majority of the public are concerned about rising unemployment (82 percent), day to day living costs (80 percent), and low economic growth (77 percent), according to a PwC survey of 2,000 people across the UK. Pandemics and other health crises (84 percent), cyber crime (82 percent), and climate change (81 percent) were other key concerns according to the research, which looks at the UK public’s attitude to risk.
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Self-employed workers and side hustlers to drive the UK’s economic recovery

Self-employed workers and side hustlers to drive the UK’s economic recovery

self-employedResearch released by Mettle and YouGov estimates that the UK’s growing self-employed and side hustler movement will contribute an estimated £125 billion in turnover to the UK’s economic recovery in 2021. Furthermore, small and medium-sized businesses (with 1-49 employees) are estimated to contribute approximately £310.46 billion. More →

Firms must take a more ethical approach to technology, says World Economic Forum

Firms must take a more ethical approach to technology, says World Economic Forum

The World Economic Forum has launched a new report which sets out to define how organisational leaders can influence their companies and encourage the responsible use of technology and build ethical capacity. Ethics by Design” – An Organizational Approach to Responsible Use of Technology claims to integrate psychology and behavioural economics findings from interviews and surveys with international business leaders. It aims to shape decisions to prompt better and more ethical behaviours. The report promotes an approach that focuses less on individual “bad apples” and more on the “barrel”, the environments that can lead people to engage in behaviours contrary to their moral compass. The report outlines steps and makes recommendations that have proven more effective than conventional incentives such as compliance training, financial compensation or penalties. More →

Digital skills gap poses major economic threat, Microsoft study claims

Digital skills gap poses major economic threat, Microsoft study claims

The UK’s digital skills gap could pose a risk to economic recovery, new research from Microsoft claims, with over three-quarters of UK leaders citing a large digital talent pool as essential to driving UK competitiveness. The study, Unlocking the UK’s potential with digital skills, was conducted in partnership with Dr Chris Brauer at Goldsmiths, University of London to assess the UK’s skills gap and provide practical guidance for organisations on how to tackle it. It predicts the rise of a “Next Gen Worker” that is empowered by low-code and no-code technology, but also finds that a failure to embrace technological skills could leave companies struggling to compete on the global stage. More →

Second cities safeguard the UK from future economic crises

Second cities safeguard the UK from future economic crises

Second citiesSingapore, Helsinki and Zurich have come top in the 2020 Smart City Index, a study carried out by the Institute for Management Development (IMD). In a year that saw many European cities fall in the rankings, London, managed to jump five places compared to 2019, though it still stayed well outside of the global top 10 at 15, followed closely by the UKs second cities. More →

The economic challenges of the post lockdown world become clearer

The economic challenges of the post lockdown world become clearer

There are so many unknowns about the ways in which the Covid-19 pandemic will shape our world in the coming months and years but what it has highlighted are the strengths and weaknesses in the global and UK economy and their implications for the commercial property sector. In its latest white paper, property consultancy and chartered surveyors Bruceshaw examines the macro and micro economic challenges that will shape the property sector for many years to come. More →

Employee confidence plunges amid economic and workplace uncertainty

Employee confidence plunges amid economic and workplace uncertainty

Employee confidence

Employee confidence in U.K. business conditions has fallen to its lowest level on record on the back of Brexit and rising fears around the coronavirus, according to Gartner, Inc. Gartner’s latest Global Talent Monitor report claims that the U.K. business confidence fell to an index score of 44.5 in 4Q19, a decrease of over 11 index points from 4Q18. The figure puts the U.K. more than 6 index points below the current global average. More →

Global warming is already having a widespread economic impact

Global warming is already having a widespread economic impact

global warmingThe impact of global warming is rarely included in standard macroeconomic forecasts, even over 20-30 year time horizons. This partly reflects the perception that the economic effects of global warming are unlikely to become significant until the second half of this century and even then, will cost no more than a few percentage points of world GDP.

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