November 30, 2018
Economy could achieve significant economic boost by addressing skills gaps in younger people
The UK could boost GDP by around £40 billion a year in the long run if it reduces the number of young people not in education, employment or training (NEET) to match Germany, the best performing EU country. Despite making improvements in recent years, the UK only ranks 19th out of 35 countries across the OECD on a PwC index based on a range of indicators of youth employment, education and training. But this is slightly better than the UK’s ranking of 21st across the OECD on a similar PwC index for older workers released earlier this year. Across England NEET rates vary significantly, reflecting the disparity in educational attainment and job opportunities across the country. In 2017, the West Midlands had the highest NEET rate for 19-24 year olds at 16.7 percent, followed by the North East by 16.3 percent. Meanwhile the South East and South West have the lowest rates, both at 11.5 percent (see table below). (more…)
Generation Z, the latest generation to enter the workforce, are more likely to be motivated by job satisfaction and working for social good than by money, a new report claims According to new research from Huawei, in partnership with Chris Brauer, Director of Innovation at Goldsmiths, University of London, based on responses from 2,000 18-25-year olds’ across the UK, also reveals that a new tribe of working professionals among Gen Z is emerging, the ‘New Working Order’. 
One year on from #MeToo – just one in four workers agree that international media coverage has helped to improve their workplace culture, according to new research on sexual harassment from Acas. The workplace experts commissioned the study from YouGov to find out whether media reporting on #MeToo and high-profile celebrity cases have had any effect on British workplaces. Only a third (30 percent) of survey respondents believe that incidents of sexual harassment in workplaces have decreased in the last five years. 
Small and mid-sized businesses have hired three times more people than larger businesses over the past five years and could overtake large companies by 2030, according to new analysis of the latest ONS data commissioned by Santander Business Banking. However, separate research commissioned by the bank has found that significant numbers of young people are failing to recognise the significant job opportunities that SMEs offer. Just a third (35 percent) of Generation Z and Millennials leaving full time education say they wish to work for an SME, while an even smaller proportion, just one in six (18 percent), want to work for a start-up or micro business. 
