August 25, 2021

Changing workplace means a changing role for finance heads

by Martyn Draper • Comment, Jobs, Technology, Workplace

The CFO and Finance Director role is undergoing rapid change. Not only are they required to manage the traditional priorities of the job, but they must now also juggle a wide array of operational, transactional and commercial responsibilities. With added pressure from clients because of Covid-19 and a rapidly evolving workplace, the role is increasingly hard to navigate. To gain a deeper insight into this and the evolution and future planning of a department that is central to the success of modern businesses, Totum recently surveyed CFOs and Finance Directors from among UK headquartered legal firms with annual revenue of £20m or more. More →

April 15, 2021

Finance directors set out plans for truly remote workforces

by Neil Franklin • Flexible working, News, Workplace

A new global survey by CFO Research and Globalization Partners, claims that 81 percent of the CFOs who responded say their company’s long-term growth strategy includes international expansion, either currently ongoing or in their future plans. The survey also uncovered changing perceptions about hiring and remote work because of their pandemic experiences, with 85 percent of respondents indicating the ability to tap into a more cost-effective, global talent pool that is equipped with the appropriate skills would be desirable. More →

January 26, 2021

Tech and finance firms opt to keep offices closed

by Jayne Smith • Business, News, Working culture

Expenses app, ExpenseOnDemand, has published new data which claims to highlight how businesses in different sectors are planning office returns in 2021. The majority of businesses across many sectors have stated offices will reopen this year at some point. More →

July 8, 2020

Mental health of finance workers seriously harmed by lockdown

by Neil Franklin • Flexible working, News, Wellbeing

More than eight-in-ten London-based banking and finance professionals (86 percent) say Covid-19 lockdown has affected their mental health, according to a new survey of white-collar employees by Helix Resilience. According to the survey of 352 banking and finance professionals, over half (52 percent) of respondents claim to be less productive, and nearly four-in-ten (39 percent) say they find it difficult to concentrate outside the office. While most working in the sector (53 percent) feel their employer is doing enough to support their wellbeing during lockdown, a third (33 percent) do not feel supported. More →

April 8, 2020

Finance leaders gear up for life after lockdown

by Stephen Norris • Comment, Property

As the impact of the COVID-19 global pandemic becomes apparent, and the vast majority of workers are now remote working, CFOs are working closely with their real estate teams to re-assess workspace costs both now and in the future. More →

January 15, 2020

Disconnect between HR and finance is key to productivity puzzle

by Neil Franklin • News, Workplace

A continued disconnect between HR, Finance and business leaders is an important driver of the UK’s enduring low productivity levels, a new report claims. The research commissioned by OrgVue, claims that if better organisational planning was adopted by UK organisations, GDP could be boosted by £10.4 billion due to improved productivity. More →

March 12, 2019

UK jobs boom set to end as finance and business sectors lose confidence

by Sara Bean • Cities, Facilities management, News, Workplace

The boom in the UK jobs market is coming to an end just as the Brexit countdown reaches its final stages. According to the latest ManpowerGroup Employment Outlook Survey, the national Outlook for the second quarter of 2019 has fallen to +4 percent, on a par with the weakest levels of confidence seen in recent years. More worryingly, the negative Outlook in the Business and Financial services sector – which employs nearly a fifth of all UK workers – suggests jobs are set to be lost in Britain’s most important sector. The report found that the Finance and Business Services sector has fallen five points to -1 percent, only the second time in the last decade it has been in negative territory.

October 24, 2018

Commercial property uptake shows finance sector remains committed to London

by Neil Franklin • News, Property

Undeterred by political and economic headwinds in recent years, London remains a world leading financial centre and is by far the most active centre in Europe, according to the latest research from global real estate advisor CBRE. According to the report, 1.1 million people were employed in the UK financial services sector in 2017, of which 34 percent were in London. The industry contributed £119bn to the national economy (7% of UK GDP) – half of this was generated by London, where it accounted for 14 percent of the city’s economic output.

September 27, 2018

With six months to go before Brexit, only 630 finance jobs have left UK, claims Reuters

by Neil Franklin • News

As few as 630 UK-based finance jobs have been shifted or created overseas with just six months to go before Brexit, a far lower total than banks said could move after Britain’s surprise vote to leave the European Union, according to a new Reuters survey. Many bankers and politicians predicted after the June 2016 referendum that leaving the EU would prompt a mass exodus of jobs and business and deal a crippling blow to London’s position in global finance.

August 23, 2018

Finance professionals prioritise protection of employment rights in Brexit deal

by Neil Franklin • News, Workplace

Securing employment rights for workers must be one of the key priorities of any Brexit deal, according to a fifth of finance professionals surveyed by REED. The recruitment agency asked almost 800 senior finance professionals about company preparations for leaving the EU, finding that only prioritising a free trade deal for the UK (31 per cent) received more votes than securing employment rights (20 per cent). Finance professionals gave considerably less backing for prioritising membership of the single market (18 per cent), self-determined UK law (10 per cent), the customs union (10 per cent) and border controls (10 per cent).

February 12, 2018

Finance workers are amongst most stressed people in the world

by Neil Franklin • News, Wellbeing

Finance workers in the UK are among the most stressed in the world, according to a study by Robert Half UK. The survey of 2000 people including 200 senior finance managers claims that 78 percent of Chief Financial Officers in the UK believe stress levels will rise in the next two years, with over a third (31 percent) saying they would grow significantly. CFOs believe that increased workloads (51 percent), growing business expectations (49 percent) and a lack of staff (40 percent) will send stress levels soaring.

November 2, 2017

Rise in gender and ethnic diversity to boards in finance sector, despite ‘closed shop’

by Sara Bean • Legal news, News, Workplace

Banking and finance companies within the FTSE 100 have increased gender and ethnic diversity at board level, but there remains a question over whether minorities can break through the glass ceiling, as many of the top roles in banking and finance companies (Chair, CEO & CFO) remain a closed shop for ethnic minority and female leaders. This is according to a new study from Green Park which claims the leadership pipeline, supplying the highest tier of management in FTSE 100 banking and finance companies, now features the highest level of ethnic minority talent in four years, including 15 percent of professionals with a non-white background compared with 5 percent of leadership pipelines for FTSE 100 companies overall and 6.5 percent in 2014. The banking and finance sector has also met the target set by Lord Davies that 25 percent of board members should be female. However, this has been updated by the Hampton-Alexander Review to a target of 33 percent by 2020, which suggests that banking and finance companies will still need to do more to increase the proportion of female leaders in their leadership pipelines.