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The gig economy must be harnessed to address skill shortages and uncertainty

The gig economy must be harnessed to address skill shortages and uncertainty 0

gig economyThe legal status of  people working in the gig economy must be clarified so that businesses and individuals can thrive, according to a new report from the Recruitment & Employment Confederation (REC).  Gig economy – The Uberisation of Work (registration needed) explores the impact of digital work platforms such as Upwork, Task Rabbit and Freelancer.com, which act as ‘marketplaces matching freelancers with a wide range of project-based work’. The report suggests that almost a third of all UK employers will  use these kinds of digital work platforms by 2021. The REC has called on policy-makers to ensure that the gig economy is fair to self-employed workers and businesses, and to secure benefits for the UK wider economy. The report claims that this will become increasingly important as the gig economy becomes more mainstream, adding £45 billion to the UK economy and creating work for 766,000 people.

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Working with people and on complex tasks slows cognitive decline

Working with people and on complex tasks slows cognitive decline 0

hands-heroWorking on complex tasks and work that is based on interactions with other people rather than data or things appear to protect against cognitive decline, according to research presented at the Alzheimer’s Association’s International Conference in Toronto. Researchers in two separate studies claim that people whose work requires complex thinking and activities are better able to withstand the wider causes of cognitive decline. The results suggest that working with people, rather than data or physical things, contributed the most to the protective effect and could offset the widely reported effects of a Western diet on cognitive ability. Researchers found that people with increased white matter hyperintensities (WMHs) – white spots that appear on brain scans and are commonly associated with Alzheimer’s and cognitive decline – could better tolerate WMH-related damage if they worked primarily with other people rather than with things or data.

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Businesses worldwide ready to welcome robots into workplace

Businesses worldwide ready to welcome robots into workplace 0

robotsBusinesses are ready to embrace the new era of robot workers, automation and artificial intelligence, according to a new report. The Robotic Workforce Research study by AI specialists Genfour claims that more than half of respondents globally are ready to embrace the arrival of robots in the workplace. Almost half of respondents believe that between 10 and 30 percent could be subject to automation. Across all businesses in the UK and US, 94 percent responded that they would either embrace robots or felt a robotic future would be inevitable. Almost half (46 per cent) of UK businesses say they are set to welcome robots at work. A similar proportion (47 per cent) believe it is inevitable, and a third (32 per cent) believe they’ll be able to automate as much as 20 per cent of their business as soon as the technology becomes available. Just seven per cent are worried robots would steal jobs and 16 per cent currently have not planned automation.

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China raises retirement age as workforce set to fall by a quarter by 2050

China raises retirement age as workforce set to fall by a quarter by 2050 0

A rapidly ageing workforce is not just a challenge for Western economies. The government of China, the world’s second largest economy, has announced that it expects its workforce to decline by nearly a quarter (23 percent) between now and 2050 as the population ages and more and more jobs are automated. The Government is now considering raising the retirement age from 59 to 65 ahead of an anticipated sharp decline in the numbers of people of working age after 2030, according to the Ministry of Human Resources and Social Security.  A spokesman for the ministry forecast a fall of 211 million people of working age to 700 million by 2050. China’s demographic challenge is mirrored in many countries but has its own characteristics thanks to its strict and controversial decades-long ‘one child’ policy‘ which it lifted last year. The country now has 220 million people over the age of 60, accounting for over 16 percent of its total population at the same time that its previously stellar economic growth has shown signs of slowing.

Offices not yet smart enough to support new ways of working

Offices not yet smart enough to support new ways of working 0

right-information-right-technologiesEmployees believe their workplace is not making best use of latest technology, but expect this to improve as remote work begins to provide both quality of life and productivity benefits. In the latest Future Workforce Survey conducted by Dell and Intel, nearly half of global employees believe their current workplace is not smart enough, while 42 percent of millennial employees say they are willing to quit their job if technologies are not up to their standard. The research suggest that the addition of collaborative tools and innovations such as internet of things (IoT) and Virtual Reality (VR) will soon become vital to the workplace. According to the poll of nearly 4,000 full-time employees in ten countries, over half (57 percent) believe they will be working in a smart office within the next five years, while 51 percent believe that better technologies will make face-to-face meetings redundant within the next five years.

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SMEs must offer flexible work or face recruitment and retention challenge

SMEs must offer flexible work or face recruitment and retention challenge 0

Flexible workSMEs that neglect to offer flexible work options may find their employees decide to switch to somewhere that does, according to a survey from Regus. Over 3,000 professionals across a variety of sectors were quizzed on the importance of flexibility in their working life. SME respondents left very little doubt about the value of a flexible approach, with 92 percent of workers in SMEs saying that, faced with a choice of two similar jobs, they would choose the one that offered flexible work. A third of respondents (33 percent) also stated that they would have stayed longer in their previous jobs if flexibility had been offered. According to Richard Morris, UK CEO, Regus, SMEs should think long and hard about the type of roles that they are offering to today’s professionals. He argues that the days of the fixed hours, fixed location job are becoming as outdated as the office fax machine. Flexibility is no longer seen as a perk, it is now a key differentiator for talented individuals.

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UK should avoid severe recession and property crash after Brexit vote

UK should avoid severe recession and property crash after Brexit vote 0

BrexitUK growth had already eased from around 3 percent in 2014 to around 2 percent before the EU referendum due primarily to slower global growth, but the Brexit vote to leave the EU is likely to lead to a significant further slowdown. UK GDP growth is forecast to decelerate to around 1.6 percent in 2016 and 0.6 percent in 2017 according to PwC’s main scenario in its latest UK Economic Outlook report. Quarter-on-quarter GDP growth could fall to close to zero in late 2016 and early 2017 in this main scenario, but is then projected to recover gradually later in 2017 as the immediate post-referendum shock starts to fade. The UK would avoid recession in this scenario, although the report notes that uncertainties around this view are significant, with alternative scenarios showing GDP growth in 2017 of anywhere between +1.5 percent and -1 percent. But even this latter relatively pessimistic scenario would not be a severe recession of the kind seen in the early 1980s or in 2008-9.

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The ethics of everyday working life come under the spotlight

The ethics of everyday working life come under the spotlight 0

Ethical behaviourThe ethics of everyday working life are the subject of two new surveys. A study from job site CV-Library, claims that over half of UK workers believe their workplaces have become ‘more strict’ in recent years over issues such as health and safety and personal behaviour, attitudes and appearance. There are some exception to this, according to the survey, as employers  become more tolerant of behaviour such as the wearing of tattoos, relaxed dress codes and making personal calls. The second survey from online expenses management provider webexpenses claims that, contrary to popular belief, people working in sales and marketing are the least likely to lie at work while the most dishonest professions are human resources and IT. Four out of five people working in either HR or IT admit they have committed at least one deceitful deed at work, against while only 60 percent of those working in sales, media and marketing jobs admit to fibbing (unless they’re lying about that, obviously).

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ICE makes the case for infrastructure ahead of Brexit negotiations

ICE makes the case for infrastructure ahead of Brexit negotiations 0

HS2 Euston InfrasructureIn a new report Brexit – The Case for Infrastructure, the Institution of  Civil Engineers has set out the business case for the valuable contribution which infrastructure makes to the economy and argues that the UK should not lose sight of this as it begins negotiations for Brexit as it leaves the European Union. The report claims that high quality, high performing infrastructure is vital for economic growth and improved quality of life. It points to transport, communications, energy and housing as being central to spreading opportunity across the whole country. It also makes the case that infrastructure acts as a catalyst for social and economic inclusion, encouraging greater participation in society from people of all walks of life. In particular, during uncertain or volatile economic times, continued investment in UK infrastructure can help provide economic stability, facilitate inward investment and drive economic growth.

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British workers’ patience with slow technology lasts just sixty seconds

British workers’ patience with slow technology lasts just sixty seconds 0

PatienceThe patience of British workers to put up with slow and malfunctioning technology lasts just sixty seconds on average before they lose their temper, according to new research from tech firm Crucial. The survey of 2,000 Brits claims that one in five (21 percent) lose their patience once a week, a fifth (19 percent) every couple of days, and 7 percent kicking off over slow technology every few hours. And when slow technology does strike, it takes 60 seconds on average before people lose patience. However, some Brits lose it even quicker, with 32 percent saying they lose patience with slow technology after just 30 seconds. While there is no one single reason cited for a PC freezing, almost half (46 percent) of respondents said that opening web pages caused their PC to freeze. Other causes include opening programmes and apps (27 percent), opening files (21 percent), loading videos (17 percent) and when saving down an important file (12 percent).

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Countries aware of but not harnessing full potential of older workers

Countries aware of but not harnessing full potential of older workers 0

older workersThe idea of a fixed retirement age looks increasingly distant in countries around the world and perhaps none more so than the US. According to a study from the Pew Research Center, based on data from the federal Bureau of Labor Statistics, more US over 65s are working than at any time covered in the analysis, and they are working longer hours. As of May, nearly a fifth (18.8 percent) of over 65s worked full or part time, up from 12.8 percent in 2000. Intriguingly, the study also shows that this represents a significant greying of the workplace as in the overall population, 59.9 percent of Americans are currently in jobs, down from 64.4 percent in 2000. The same pattern is evident even in workers significantly older than 65. Even the over 75s are working at higher rates than they did before the 2008 recession, the only age groups about which that can be said, according to Pew, emphasising the fact that the workplace is getting older rather than younger as is commonly assumed.

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Millennials not as keen on the gig economy as you might think, claims study

Millennials not as keen on the gig economy as you might think, claims study 0

MillennialsThe supposed confluence of two of the most currently talked about workplace phenomena may not be all it seems, according to a new report from PwC. It appears that Millennials may not be all that keen on the gig economy after all, and might prefer some of the things that previous generations enjoyed such as stability, security and an ability to plan their lives with at least some degree of certainty. They are realists however, and understand that the use of freelance work will continue to grow over the next few years. Indeed, the report suggests that it is older workers who – perhaps unsurprisingly – are more keen on freelance work. According to the study based on 1,385 respondents in the US, overall 41 percent of employees expect to be employed on a contract basis within the next year, even though over  a third  (39 percent) don’t like the income uncertainty, and over half (53 percent) expect to be fully self employed within the next five years.

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