MPs back plan to increase gender diversity in business

MPs back plan to increase gender diversity in business

MPs back new measure to increase gender diversity in business

A majority of MPs have backed a recommendation to increase gender diversity in business by extending the “Women in Finance Charter” to cover all businesses in the UK. The recommendation comes from the professional accountancy body AAT (Association of Accounting Technicians). The Charter asks financial services firms to commit to implement four key industry actions; to have a named senior executive responsible and accountable for gender diversity and inclusion; set internal targets for gender diversity in senior management positions; publish progress annually and ensure the pay of the senior executive team is linked to delivery against these internal targets on gender diversity. More →

Shortlist for Business Book Awards features more on workplace and wellbeing than ever before

Shortlist for Business Book Awards features more on workplace and wellbeing than ever before

This year’s shortlist for the Business Booko Awards features more books than ever on wellbeing and happiness in the workplace as well as career self-development,  company culture and business ethics. A record number of women authors have also made the shortlist. More →

Working environment, not time of the year has most negative effect on staff wellbeing

Working environment, not time of the year has most negative effect on staff wellbeing

Working environment, not time of the year has most negative effect on staffHalf of employees say that their working environment has a negative effect on their mental health (51 percent) and wellbeing (49 percent) and two-thirds (67 percent) say that they only ‘sometimes, rarely or never’ feel valued at work. The research by Peldon Rose shows that two-thirds of employees (64 percent) currently have poor or below average mental wellbeing and that the majority (56 percent) claim increasing workloads, followed by a lack of time to focus on wellbeing and exercise (46 percent) are the leading causes of their stress.  While half of employees think introducing exercise facilities will help them to better tackle their workplace stress (50 percent) – less than a fifth of workplaces (16 percent) currently provide these facilities, something employers should consider when looking to boost the morale of their workforce.

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Only a quarter of women and minority employees believe they benefit from corporate diversity programmes

Only a quarter of women and minority employees believe they benefit from corporate diversity programmes

Investment in diversity programmes has become commonplace: 98 percent of companies offer such programs. But that investment is falling far short of the mark: three-quarters of employees in diverse groups—women, racial/ethnic minorities, and those who identify as LGBTQ—do not indicate that they have personally benefited from their companies’ diversity programmes. This is one of the findings of Fixing the Flawed Approach to Diversity, a report from Boston Consulting Group (BCG). The report claims that a key impediment to progress is that older men (age 45 or older), who often lead decision making within corporate environments, are underestimating the obstacles in the recruiting, retention, and advancement of female and minority employees by 10 percent to 15 percent, as measured by comparison with the estimates of members of those actual groups: women, people of colour, and LGBTQ employees. This can lead to a misallocation of resources and a lack of investment in programs that could otherwise have the largest impact.

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Mandatory reporting of ethnicity pay gap could be ‘counterproductive’ if not done right

Mandatory reporting of ethnicity pay gap could be ‘counterproductive’ if not done right

Reporting ethnicity pay levels could be ‘counterproductive’ if not done right

There is a ‘significant risk’ that the reporting ethnicity pay levels could be ‘counterproductive’ unless key differences between it and gender pay are recognised, said the Institute for Employment Studies (IES) in its response to the UK Government’s consultation on ethnicity pay reporting. Although the IES supports the government’s proposals to introduce mandatory reporting of ethnicity pay gap information, it suggests that cultural and practical barriers to collecting and reporting ethnicity data are greater than for gender pay. More time and greater government support are therefore needed to prepare for these changes. The consultation response voices specific concerns that measures to increase the recruitment of under-represented groups, for example through apprenticeships or paid internships, could serve to widen pay gaps initially. This could inadvertently discourage employers from taking positive action to improve their ethnic diversity. Reporting arrangements therefore need to also take account of changes in the levels of employment participation for different ethnic minority groups, as well as their pay.

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Flexible working mothers more likely to work the most unpaid hours

Flexible working mothers more likely to work the most unpaid hours

Flexible working mothers more likely to do most unpaid hoursFlexible working is supposed to be a boon to working parents, but it seems it’s not without its disadvantages, as a new academic study has found that part-time working mothers who have the ability to control their own schedule often end up working an increased amount of unpaid overtime.  The research from the University of Kent found that for those who gained schedule control over their work there was an increase in the amount of unpaid overtime worked, as on average in the UK men work an extra 2.2 hours a week in unpaid overtime while for women it is about 1.9 hours.

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Workplace productivity plummets during January

Workplace productivity plummets during January

Around a quarter (26 percent) of British workers believe that January is their least productive month with the nation still recovering from the Christmas period, according to a new report from Hitachi Capital Invoice Finance. The report also claims that December is the second least productive month (14 percent) whist 32 percent surveyed suggested that they’re equally unproductive across the entire year. Residents of the Welsh capital Cardiff were found to be the least productive in January (34 percent) closely followed by Southampton (31 percent) and Sheffield (30 percent).

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Tackling mental ill health in the workplace requires changes at the top

Tackling mental ill health in the workplace requires changes at the top

The collective effort to improve mental health awareness has gained real momentum in recent years and in the workplace there’s growing recognition that mental wellbeing among employees is good for business. But the way we’re working – the ‘always on’ culture, innovation moving at breakneck speed, and a global workforce operating 24/7 – is creating a mental burden among employees that is generating more mental health challenges. According to the City Mental Health Alliance, 44 percent of employers are seeing an increase in reported mental health concerns. Our own research of international business leaders has also shown that two thirds of them have suffered from mental health conditions. This is not only worrying for the individuals but problematic for the wider business, as culture is driven from the top.

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Good managers shown to play a crucial role in enhancing worker performance

Good managers shown to play a crucial role in enhancing worker performance

Good managers play a crucial role in enhancing workers' performance

Employers make extensive investments in their employees; investing in hiring and retaining workers that match the firm’s needs. Now new research summarized by Kathryn Shaw, Stanford University, USA suggests that the hiring and training of good bosses may carry even more weight when it comes to workers’ performance. The study in the new IZA World of Labor Report shows a good boss can enhance the performance of their employees and can lower the quit rate. Good bosses have some universal traits: they coach and teach and offer insight into the strategy of the firm. According to Shaw economists are increasingly finding better data to measure the effects of bosses on workers’ performance, as well as the sources of these effects. A recent study of workers in a large firm that performs technology-based service (TBS) jobs found that the move from an average quality boss to one in the 90th percentile raised worker productivity by six units per hour, on a mean productivity of ten units per hour. Thus, when workers move from an average boss to a high-quality boss, productivity could rise by 50 percent. The study also showed that workers were more likely to quit when faced with bad bosses.

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Disability and age discrimination are top concerns for UK employees

Disability and age discrimination are top concerns for UK employees

Disability and age discrimination are top concerns for UK employees

More than half of employees say the inclusion of disabled people is an area that requires the greatest improvement within their organisation; with the diversity of age groups coming in a close second at just under half. This is according to the latest findings from Wildgoose’s Diversity and Inclusivity in the Workplace survey. The results suggest a shift in the areas that employees prioritise when it comes to creating a diverse and inclusive workplace and raises the concern that dual discrimination based on disability AND age is common practice in the workplace. Other significant findings from the research show that nearly half (47 percent) of male employees don’t consider the gender pay gap to be a major issue, in comparison to the three quarters of females that do; a statistic that is particularly concerning given the recent publication of major organisations’ gender pay gaps and continued media coverage of the issue. Interestingly, the gap between men and women narrows when it comes to equal promotional opportunities.

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Third of workers feel so undervalued by their managers they are planning to leave

Third of workers feel so undervalued by their managers they are planning to leave

Third of workers feel so undervalued by managers they are ready to leave

Poor relationships with their managers and a lack of development opportunities are leading to more than a third of workers feeling dissatisfied in their current jobs, claims new research from The Institute of Leadership & Management. Around 1,400 members of The Institute of Leadership & Management completed a survey, which asked about their plans and aspirations for the New Year. The survey revealed that 34 percent are likely to change their job this year. Three quarters (74 percent) admitted the New Year leaves them feeling like they can achieve more in their careers, and because January also inspires self-reflection and a desire for change. More →

From nudge tech to listening tools, Gartner makes some workplace predictions for 2019

From nudge tech to listening tools, Gartner makes some workplace predictions for 2019

Gartner predicts the ways the workplace could evolve in 2019

Last year we saw businesses reporting their gender pay gap, General Data Protection Regulation (GDPR) taking effect, speculation on how Brexit will impact jobs and further impact on how technology is changing the way we work.  Looking forward to the year ahead, Gartner has pulled together a fresh set of workplace predictions for the coming year. This includes the demise of employee surveys as the adoption of sophisticated listening tools accelerates; precious little progress in closing the gender pay gap, but the evolution of discrepancies in pay scales between new hires and existing employees; the rise and rise of the #MeToo movement, which could lead to more senior executives being ousted in 2019 than in 2018; and new technologies designed to nudge workers into action.

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