Investment in digital technology set to deliver £232bn boost to UK economy by 2040

Investment in digital technology set to deliver £232bn boost to UK economy by 2040

economyInvestment in digital technology is set to increase UK GDP by £232bn (6.9 percent) in 2040, according to a new study by Virgin Media Business and the Centre for Economics and Business Research (CEBR). The research, which examines how more digital ways of working can support the UK’s economic recovery from Covid-19, claims investment in technology could boost the economy by £74bn in 2025. (more…)

Mental health related workplace absenteeism costs soared to £14bn in 2020

Mental health related workplace absenteeism costs soared to £14bn in 2020

mental healthThe impact of the nation’s deteriorating mental health from Covid-19 lockdowns and other restrictions cost UK businesses £14bn last year, according to a study by Westfield Health. The cost of absenteeism from work due to mental health reasons increased last year by £1.3bn from 2019’s totals as work from home, travel restrictions, furlough and pay cuts changed the workplace for millions of people across the UK. (more…)

Flexibility and reskilling top priorities for UK employers in 2021

Flexibility and reskilling top priorities for UK employers in 2021

flexibilityThe COVID-19 pandemic is driving a fundamental shift in the way companies operate, accelerating the need for an adaptable and agile workforce to drive business success. According to Mercer’s 2021 Global Talent Trends study, the financial impact and work-life disruption caused by the pandemic is causing UK employers to focus on redefining flexibility and skills development to ensure their business and employees become more resilient and agile in the face of disruption.

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Nearly half of young people put their career plans on hold due to pandemic

Nearly half of young people put their career plans on hold due to pandemic

careerMore than 40 percent of young people aged 16-24 surveyed in the UK say they are putting their career or education plans on hold until the pandemic is over. The research, commissioned by BAE Systems to mark National Apprenticeship Week (8-12 February), looks at the impact the pandemic has had on the ‘lost generation’ and their career aspirations. (more…)

UK job vacancies increased by 170,000 as the vaccine effect boosts hiring

UK job vacancies increased by 170,000 as the vaccine effect boosts hiring

vacanciesThe UK jobs market recovered 170,000 jobs in January as the COVID-19 vaccination roll out boosted employer optimism, claims new research from job search engine Adzuna. The research analysed over 12 million+ live job vacancies aggregated in real-time from thousands of unique job sources across 12 international markets. (more…)

Line managers are the unsung heroes of white-collar work

Line managers are the unsung heroes of white-collar work

line managersHow good your line manager is makes the difference between an employee coping or struggling in lockdown. But too often line managers’ heroic efforts are not noticed by their employers, claims new report, titled Working under Covid-19 Lockdown: Transitions and Tensions. (more…)

Older executives are coping with WFH challenges better than younger leaders

Older executives are coping with WFH challenges better than younger leaders

executivesSenior executives aged 55+ have fared better than ‘millennial’ leaders (aged under 35) during the global pandemic. ABBYY’s COVID-19 Technology and Business Process Report claims that since the pandemic, executives of all ages have experienced huge challenges – in the UK alone, 81 percent of senior decision-makers struggled, particularly with collaborating with colleagues remotely (37 percent), motivation to work (29 percent) and productivity (26 percent). (more…)

There is always a brighter side to uncertainty in business

There is always a brighter side to uncertainty in business

uncertaintyThe uncertainty and fallout of the COVID-19 pandemic have wreaked havoc on the mental health of nearly all of us. In a recent conversation with an HR leader, she shared with me that every single person on her leadership programme reported suffering disrupted sleep due to their anxiety around business uncertainty. The irony is the business is in better shape than it has been for years thanks to the effective management of the firm’s finances during the pandemic. Regardless of reality, the uncertainty is impacting on everyone’s resilience levels. (more…)

Disconnected leadership hinders effective employee engagement

Disconnected leadership hinders effective employee engagement

engagementNew research from Opinion Matters, commissioned by SocialChorus, the digital employee experience platform, claims that the digital employee experience (DEX) and employee engagement efforts by businesses across the US, UK and Nordics are hampered by the lack of collaboration between IT, HR and Internal Communications (IC) departments. (more…)

Extrovert-run businesses are more likely to be growing than introvert-run ones

Extrovert-run businesses are more likely to be growing than introvert-run ones

businessesA new report of over 1,000 small business owners and decision makers by Hitachi Capital Business Finance claims that extrovert-run businesses are more likely to be growing in the current environment, and more likely to have plans to win more business in 2021. (more…)

Tech and finance firms opt to keep offices closed

Tech and finance firms opt to keep offices closed

officesExpenses 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…)

Business leaders are overestimating their organisational agility capabilities

Business leaders are overestimating their organisational agility capabilities

agilityAlmost three-quarters (72 percent) of business leaders and 90 percent of CEOs across Europe see organisational agility as critical in driving business performance and growth, yet many are overestimating their capabilities, according to new research from ServiceNow (NYSE: NOW). (more…)