Search Results for: unemployment

September 16, 2015

UK pay rates predicted to overtake rest of Western Europe ⁰

Latest figures from the ONS show that after several years of pay rises at or below the level of inflation, the UK has seen average pay rates grow at the fastest rate since 2009. Unemployment rates are unchanged at 5.5 percent compared with February to April 2015 but lower than for a year earlier (6.2 percent). Comparing May to July 2015 to a year earlier, both total pay (including bonuses) and regular pay (excluding bonuses) for employees in Great Britain increased by 2.9 percent. According to the latest Salary Budget Planning Study from Towers Watson’s, this upward trend will continue, with British workers set to enjoy a boom in real-terms pay increases in 2015. The study, primarily covering private sector companies, shows that average UK pay rises of 3 percent, coupled with record low annual inflation of 0.2 percent, will outstrip those enjoyed by workers in all other major European economies.

August 18, 2015

Car sharing and longer commutes are the keys to workforce mobility ⁰

by Mark Eltringham • Cities, Flexible working, News

The Government should introduce new policies to incentivise people to car share and travel further afield to find work. Those are two of the key finding of a new report, On The Move, from the think tank Policy Exchange which sets out ways to improve the mobility of the British workforce. Making it easier for people to commute twenty minutes further afield would put them in touch with at least one additional major urban area and potentially 10,000 more job opportunities, according to the report. Additionally, it suggests that drivers who offer fellow commuters a lift should be given a tax break. The authors claim that in a third of local authorities that make up the eight city regions no major employment sites (defined as having 5,000 or more jobs) are within a twenty minute commute by public transport and 80 percent of these Local Authorities have an unemployment rate above the national average.

June 16, 2015

Staff want flexible working but worry about growing fat, stale and lonely

by Mark Eltringham • Flexible working, News, Workplace

A new report from Regus, based on a study of 44,000 workers worldwide claims that while many people see flexible working as an important factor in their career choices, they also remain worried about what working from home will mean for their happiness, health, family lives and job prospects. The report claims that many workers are afraid that working from home will mean they grow lonely, overweight and stale. According to the report, home workers still long for a chance to mix with other professionals and so opt to pop out of the house regularly for a change of scenery and to reconnect with the real world. More →

May 13, 2015

Millennials now account for largest percentage of American workforce

by Sara Bean • Flexible working, News, Workplace

The publication this week of a survey by EY revealed the uncomfortable fact for US employers that 38 percent of millennials would consider moving to another country for better parental leave benefits. Now, another piece of research illustrates why US employers may need to work harder to keep their millennials (adults ages 18 to 34) happy. They now make up more than one-in-three of workers, surpassing Generation X to become the largest group in the US workforce, according to new Pew Research Center analysis of US Census Bureau data. This milestone was reached in the first quarter of 2015, as the millennial workforce hit over 53 million. With its large proportion of immigrants, and at an age of transition from college to working world, the millennial workforce is likely to grow even further.

March 10, 2015

Some improvement but levels of engagement remain low in US workplaces

by Mark Eltringham • News, Wellbeing, Workplace

According to a new poll from Gallup, the proportion of US workers engaged in their jobs rose from an average 31.7 percent in January to an average 32.9 percent in February. The latest monthly rate of employee engagement is the highest Gallup has recorded in three years and is 1.5 percent higher than for the same period last year. The study is based on Gallup Daily tracking interviews conducted with around 6,000 employees. Gallup categorises workers as more or less engaged or disengaged based on their responses to key workplace metrics that the pollster claims predict important organisational performance outcomes. With a third of US employees engaged at work – a figure that has remained consistent over the last three years – February’s data also showed that half (50.3 percent) of employees are not engaged and 16.8 percent are actively disengaged at work.

March 3, 2015

Female empowerment within UK workforce on rise but too few in full time jobs

by Sara Bean • Flexible working, News, Workplace

A strengthening economy has helped the UK to rise up to 14^th position out of 27 OECD countries in PwC’s annual Women in Work Index, but it still lags well behind many other countries in overall female economic empowerment. The Nordic countries continue to lead the Index, with Norway maintaining pole position, followed by Denmark and Sweden. These three countries have consistently occupied the top three positions in the Index since 2000 and the reason is that they all have a much fairer balance between genders on managing work and family life. By comparison, although the UK is in the top 10 performing OECD countries on female participation in the labour force, this is negatively impacted due to the low proportion of women in full-time employment; suggesting that flexible working is having a negative impact on many women’s career prospects.

February 11, 2015

This isn’t a golden era for small business; it’s more interesting than that

by Mark Eltringham • Comment, Flexible working, Public Sector, Technology

Yesterday, the Prime Minister’s Enterprise Advisor Lord Young produced a report into the key trends experienced by the UK’s small businesses over the past five years. According to the headline figures presented by the report, this is a ‘golden era’ for small businesses in the UK, with a record number of small firms in the country. The reported 5.2 million small firms represents an increase of 760,000 over the five year period covered by the study. The report concludes that the main drivers of this upsurge are the growing belief people have in their own ideas and abilities coupled with the technological wherewithal to make them a commercial reality. Lord Young also claims the Government deserves some credit for providing the business landscape for this to happen. But is it really that simple?

January 13, 2015

Nearly two-thirds of over 50s say flexible working is best route to retirement

by Sara Bean • Flexible working, News, Workplace

Around half of over 50s would like to carry on working part time after 65, while 39 per cent of feel that working part time or flexible hours before stopping work altogether would be the best way to retire. According to new research, one in four over 50s said they would be interested in taking a few months off and then returning to work as an alternative to retirement. Meanwhile 36 percent of retirees say their advice to others would be to consider switching to flexible or part time work for a period first before retiring and 33 per cent of over 70s still working said they did so because they enjoyed it. However the poll also reveals some discrimination, with 23 percent of over 50s believing they are viewed ‘less favourably than younger workers’ and 15 per cent experiencing age-based discrimination in the workplace.

December 10, 2014

‘Empty desks’ costing UK business 18bn a year, as job vacancies go unfilled

by Sara Bean • News, Workplace

The economic impact of unfilled job vacancies on the UK economy may be leading to a staggering annual cost of over £18bn. Research by job site Indeed, claims that falling unemployment and robust job creation is resulting in many businesses finding it a challenge to locate and secure the right employees. This inability to find and recruit the right hire for a role is impacting on both the business itself and the wider economy in two major ways. For the employer, failing to effectively resource a business slows both production and profits, while in the wider economy unearned wages reduce consumer spending power and contribution to economic growth. ‘Empty desks’ in the real estate sector are having the greatest impact on the UK economy, due to high levels of contributed economic value (the goods and services that could be produced if the position were filled).

August 20, 2014

Four year surge in the numbers of over-50s and over-65s in UK workforce

by Mark Eltringham • News, Workplace

We keep saying it but forget all the talk about Gen Y, the UK workforce is actually aging and becoming more diverse. New research from Saga shows that the number of employees over the age of 65 has increased by over a third over the last four years and the numbers of those between 50 and 64 has also increased – by nearly a tenth. The proportion of over 65s within the workforce is up from 3.4 percent to 3.6 percent over the same period but there have also been increases in employment in younger age groups meaning the workforce is more diverse. There are now 1.09 million over 65s still in work and around 8 million in the 50-64 age group. The Saga Monthly Employment report, published in partnership with the Centre for Economics and Business Research, also found that older age groups are now just as economically active as younger demographics

February 24, 2014

CIPD calls for a budget to address decline in UK productivity

by Sara Bean • News, Workplace

The CIPD has urged the Chancellor to focus on delivering a “Budget for Productivity” when he delivers his 2014 Budget on 19 March. The employment body has today put forward a package of proposals which call for labour market inclusion and the development of more productive, inclusive, and engaging workplaces. It is calling for a fundamental review of UK skills policy, together with a new focus on the workplace, the nature of jobs for the future, and how skills are being utilised. This, the CIPD argues, is critical if the necessary leap in productivity is to be delivered to boost real wages. A recent CIPD report found that already weak UK productivity has worsened as a result of a slow-down in job turnover during the recession and an extraordinary run of hiring that has preceded the recent return to growth. More →

February 13, 2014

No pay rise for a while? Get used to it, says the CIPD

by Mark Eltringham • News, Workplace

The Chartered Institiute of Personnel and Development has today released a report analysing the most sustained and severe fall in real wages since at least the Second World War, and warns that the decline will not be reversed until there is a substantial improvement in the UK’s productivity. The report is accompanied by new survey data showing many employees expect pay rises in 2014 to be below inflation – a repeat of their experience in 2013. ‘Have we seen the end of the pay rise?‘, which is the third in a series of four Megatrends surveys exploring the future of work and the economic challenges which lie ahead, examines the effects of average weekly earnings that are now between 7.8 percent and 10.2 percent lower in real terms than they were five years ago, in January 2009, leading to a sustained squeeze on household finances.