Skill shortages and currency weakness contribute to three year low in economic confidence of SMEs

Skill shortages and currency weakness contribute to three year low in economic confidence of SMEs

by • News, Workplace

Skill shortages and currency weakness cause three year low in economic confidence of SMEsConcern amongst small and medium sized enterprises (SMEs) regarding the current economic climate fuelled by worries over a Brexit-related skills shortages, is at a three-year high, according to the latest Zurich SME Risk Index. It now sits at 56.38, indicating almost a 2 percent rise in perceived risk since Q1 2016 (55.43), and more than 3 percent higher than in October 2016 (54.55). SMEs attitudes towards economic growth, presently sits at a four-year low – with just two in five (40 percent) businesses confident that the UK economic situation will improve over the next 12 months. Similarly, the results regarding SMEs attitudes towards the international trade environment, reveals concern regarding overseas competition and currency rate fluctuations being at its highest in four years at 45.49. Equally, workforce challenges, namely the availability of skills and talent, is also an increasing concern for smaller businesses. Two in five (40 percent) SMEs now see workforce challenges as a major concern for their business; a rise of 8 per cent since October 2016, indicating that political issues are a major influence on the current attitudes of business owners in the UK.

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Seven workplace stories that got us thinking this week

Seven workplace stories that got us thinking this week

by • Facilities management, Features, Technology, Workplace, Workplace design

Is lack of sleep affecting your work?

What if you never saw your colleagues again?

In the name of place-making, architects are often complicit in social cleansing

What CIOs need to know about workplace biometrics

Embarrassment capes and singing drones aim to shame Japan’s workaholics

Together or apart: solidarities, silos and seating plans

Andreas Gursky, master of the contemporary sublime

Image: Andreas Gursky’s May Day V

 

Workers prize standard of technology over latest office design when moving jobs

Workers prize standard of technology over latest office design when moving jobs

by • News, Technology, Workplace

Over half of UK workers (53 percent) say that the standard of technology is a key consideration for accepting a new job role and more than 1 in 3 (37 percent) would decline a job based on poor hardware alone, claims a new survey. The survey of over 2,000 British adults carried out by gadgets and technology e-tailer, LaptopsDirect.co.uk found that having the latest technology was valued more than other office perks, such as flexible working (45 percent), the working environment/decor (39 percent) and staff discounts (33 percent). Nearly a quarter of respondents (74 percent) overall, believe technology makes them more productive at work, with workers in marketing valuing technology the highest, with 84 percent of the votes, followed by those in creative and photographic (81 percent), information and communications (78 percent), professional services (73 percent) and education (71 percent).

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Millions of UK workers unaware of employer’s policy on statutory sick pay

Millions of UK workers unaware of employer’s policy on statutory sick pay

by • Legal news, News, Wellbeing, Workplace

Millions of UK workers unaware of employers policies on statutory sick pay

Over 2.5 million UK workers are unaware of their employer’s policy on statutory sick pay and would face a significant salary shortfall if they were unwell and unable to work, claims new research from Direct Line.  Just 4 percent of employees know how much they would be paid in statutory sick pay if they fell ill and many mistakenly believe that on average they would receive full salary for three and a half months if they were unable to work due to illness. In fact, 43 percent of firms reduce an employee’s wages to statutory sick pay after two weeks of an employee being off sick and one in six firms reduce wages to statutory sick pay after just four days. It is not only salaries people lose out on if they are off sick; one in five (21 percent) firms that pay bonuses withhold these if an employee has been off work on long term sick leave. More than a third of firms (33 percent) will pay bonuses based on pro-rata analysis of days worked and 14 per cent will pay a discretionary reduced rate.

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New RSA report highlights increasingly precarious and diverse nature of work

New RSA report highlights increasingly precarious and diverse nature of work

by • Flexible working, News, Technology, Workplace

work gig economy flexible workingBritain is dividing into seven new classes of worker as the gig economy grows, according to think-tank the RSA (the Royal Society for the encouragement of Arts, Manufactures and Commerce). Striving, Thriving or Just About Surviving has been published to coincide with the launch of the RSA’s Future Work Centre, following RSA chief executive Matthew Taylor’s employment review for Theresa May last year. The report warns of a 30:40:30 society: while around 30 percent live comfortably, economic insecurity is “the new normal” with 40 percent just managing and a bottom 30 percent not managing to get by.

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Financial companies learning to better utilise office space to attract right talent

Financial companies learning to better utilise office space to attract right talent

by • Flexible working, News, Property, Workplace, Workplace design

Nasdaq offices in PhiladelphiaFinancial services organisations are reducing the amount of commercial office space they require as they adopt more flexible work styles. This is according to a new report from HOK’s US team, The New Financial Workplace, an investigation into the threats and challenges facing the financial services industry, with a special focus on how new technologies like cryptocurrency, biometrics and blockchain are disrupting the sector. Financial services companies are being challenged by the emerging fintech industry, says the report, which is projected to grow to $8 billion in 2018. These traditional companies must adopt the cultures and workplace design practices of the technology industry to stay ahead.

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Only half of organisations are committed to ensuring employees thrive at work

Only half of organisations are committed to ensuring employees thrive at work

by • News, Technology, Workplace

Growth and development matter most to employees, followed closely by fair access to opportunities and equity in pay, yet only half (52 percent) of organisations worldwide have committed to help meet these aims claims new research. As advances in technology, like AI and robotics, disrupt industries and redefine value chains, organisations need to distinguish themselves from others in order to prevail. Thriving organisations – those that transform their work environment into a compelling experience – will be first in building the workforce for the future finds Mercer’s newest research, Thriving in an Age of Disruption. It suggests that exceptional organisations transform work into a compelling experience that meets all employees’ needs, unlocks their full potential and enables them to successfully transition into the future workforce. Employees who are energised and bring their authentic selves to work are 45 percent more invested in their role, while a trusting work environment, a feeling of personal accomplishment, faith in senior leadership, clarity around career paths and a strategy that is responsive to external market shifts and societal needs explain 79 percent of employee confidence in the company they work for.
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Gender discrimination is rife across the workplace says management body

by • Flexible working, Legal news, News, Workplace

Gender discrimination is rife across the workplace says management body

More than four in five (85 percent) of women and 80 percent of men report that they have witnessed gender-discriminatory acts at work suggests the results of new research by the Chartered Management Institute. The CMI’s latest report ‘A Blueprint for Balance: time to fix the broken windows’ looks into gender diversity best practices, and found patchy results. Despite some leading exemplars, the majority of organisations are still struggling to make a meaningful difference to achieving a gender balanced workplace.  According to the report’s survey of 856 managers, just one in four (25 percent) say that their peers and senior leaders ‘actively and visibly champion gender initiatives’. The lack of action cascades down the ranks, with only 19 percent of junior and middle managers believing their senior leaders are committed to the target of gender balance in their organisations. This is in spite of a recent study by management consultants McKinsey that found globally the most gender diverse businesses are 21 percent more likely to financially over-perform than their peers.

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Two fifths of people think their jobs will be obsolete within a decade

Two fifths of people think their jobs will be obsolete within a decade

by • Flexible working, News, Workplace

A new survey from job site Jobbio claims that more than two fifths of British workers think their job will be obsolete in as little as ten years, compared to over a third of those in the US. Respondents believe roles such as travel agents, telemarketers and factory workers will all disappear. in the longer term, a little over two-fifths of 2,000 British respondents (41 percent) think that they won’t be able to retire until the ages of 70-74 in 2050 with less than a fifth (14 percent) thinking they will get to retire under the age of 65. The survey focuses on the issue of happiness and what makes people happy at work. It found that there are some marked differences between the two countries although people are universally keen to address the issue of work life balance.

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Business in the community aims to improve the quality of work for lowest-paid staff

Business in the community aims to improve the quality of work for lowest-paid staff

by • News, Wellbeing, Workplace

Business in the community campaign to address workers' financial concerns

Financial concerns are increasingly affecting the performance of workers across the UK, with one in eight UK workers (3.7 million) now living in poverty. According to the Money and Mental Health Policy Institute, a quarter of the UK workforce are, to some extent, experiencing financial insecurity. One in five employees (21 percent) report that they are just about managing financially, while a further 5 percent say they are finding things difficult. Aside from the undue stress this causes families, this can also have significant repercussions for employers, in terms of recruitment, retention and productivity. This has prompted Business in the Community, (BITC) with support from the Joseph Rowntree Foundation, to make the case for all employers to improve the quality of work for their lowest-paid staff. Its new campaign, Good Work for All draws on best practice from forward-thinking organisations including Starbucks, Royal Mail and Sodexo, and over a third of BITC members have reported taking company-wide action on low-paid work with successful outcomes.

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Majority of global business leaders believe world economy will grow this year

Majority of global business leaders believe world economy will grow this year

by • News, Workplace

Well over half (fifty seven percent) of business leaders say they believe global economic growth will improve in the next 12 months – almost twice (29 percent) the level of results from the annual survey carried out by PwC . Launched at the World Economic Forum Annual Meeting in Davos, the survey found that optimism in the economy is feeding into CEOs’ confidence about their own companies’ outlook. As 42 percent of CEOs said they are “very confident” in their own organisation’s growth prospects over the next 12 months, up from 38 percent last year. Looking at the results by country though, it’s a mixed bag. In the UK, with Brexit negotiations only recently reaching a significant milestone, business leaders’ drop in short-term confidence is unsurprising (2018: 34 percent vs. 2017: 41 percent). The survey also found that CEOs are determined to find the right talent needed to reap the benefits of the digital disruption, with investments in modern working environments and the establishment of learning and development programmes to help attract and develop digital talent.

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Global economy faces an immediate reskilling problem in the face of automation, claims Davos report

Global economy faces an immediate reskilling problem in the face of automation, claims Davos report

by • AI, News, Workplace

The global economy faces a reskilling crisis with 1.4 million jobs in the US alone vulnerable to disruption from technology and other factors by 2026, according to a new report, Towards a Reskilling Revolution: A Future of Jobs for All, published by the World Economic Forum. The report is an analysis of nearly 1,000 job types across the US economy, encompassing 96 percent of employment in the country. Its aim is to assess the scale of the reskilling task required to protect workforces from an expected wave of automation brought on by the ‘Fourth Industrial Revolution’. Drawing on this data for the US economy, the report finds that 57 percent of jobs expected to be disrupted belong to women. If called on today to move to another job with skills that match their own, 16 percent of workers would have no opportunities to transition and another 25 percent would have only between one and three matches.

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