Search Results for: governments

September 22, 2017

An inability to develop skills at all ages leaves people unprepared for the future of work

Efforts to fully realise people’s economic potential in countries at all stages of development are falling short due to ineffective deployment of skills throughout the workforce, development of skills appropriate for the future of work and adequate promotion of ongoing learning for those already in employment. These failures to translate investment in education during the formative years into opportunities for higher-quality work during the working lifetime contributes to income inequality by blocking the two pathways to social inclusion, education and work, according to the World Economic Forum’s Human Capital Report 2017. The report measures 130 countries against four key areas of human capital development; Capacity, largely determined by past investment in formal education; Deployment, the application and accumulation of skills through work; Development, the formal education of the next generation workforce and continued upskilling and reskilling of existing workers; and Know-how, the breadth and depth of specialised skills-use at work. Countries’ performance is also measured across five distinct age groups or generations: 0-14 years; 15-24 years; 25-54 years; 55-64 years; and 65 years and over.

August 15, 2017

Shake up of working culture and practices recommended to reduce pay gaps

by Mark Eltringham • Flexible working, News

All jobs should be advertised as available for flexible working, and greater support should be given to fathers to play more of a role in child care, in a shake-up of culture and working practices to reduce pay gaps, the Equality and Human Rights Commission said today. The call comes as the Commission’s strategy for tackling gender, ethnicity and disability pay gaps is released. A strategy to reduce pay gaps in Britain makes six recommendations outlining the action needed by government, in society and in our businesses to improve equality in earnings for women, ethnic minorities and disabled people. According to the EHRC, offering all jobs as flexible will remove the barriers faced by women and disabled people, who are more likely to have to negotiate flexible working or accept part-time jobs that are often low-paid. Creating work places with flexible cultures will increase opportunities for everyone, giving people greater choice about the role they play both at work and home. More →

June 21, 2017

Report sets out costliest cities for mobile workforce of multinationals ⁰

by Neil Franklin • News

In a rapidly changing world, mobility has become a core component of companies’ global talent strategy and as a result, multinational organisations are carefully assessing the cost of packages for their international mobile workforce, claims a new report which sets out the costs of living in the world’s major cities. Mercer’s 23rd annual Cost of Living Survey finds that factors like instability of housing markets and inflation for goods and services contribute to the overall cost of doing business in today’s global environment. Mercer’s 2017 Cost of Living Survey finds Asian and European cities – particularly Hong Kong (2), Tokyo (3), Zurich (4), and Singapore (5) – top the list of most expensive cities for expatriates. The costliest city, driven by cost of goods and security, is Luanda (1), the capital of Angola. Other cities appearing in the top 10 of Mercer’s costliest cities for expatriates are Seoul (6), Geneva (7), Shanghai (8), New York City (9), and Bern (10). The world’s least expensive cities for expatriates, according to Mercer’s survey, are Tunis (209), Bishkek (208), and Skopje (206).

June 20, 2017

The self employed have to rely on each other as government offers almost no support ⁰

by Mark Eltringham • Flexible working, News

The self employed are turning to one another for business and financial support, according to new analysis by the RSA think-tank. Commissioned by the Federation of Small Business (FSB) to examine how self-employed workers might manage the risks they face, the RSA report claims that growing numbers of workers are turning to collective sick-pay funds to manage ill health, cash pooling schemes to deal with late payments and micro-loan services to plug gaps in bank finance. The RSA’s report, The Self Organising Self Employed concludes that, to date, both the state and the market have struggled to keep pace with the rising numbers of the self employed. Although successive governments have been vocal in their admiration of people who strike it out alone, holding up their attributes as ‘self-starters’ and ‘strivers’, this had led to a ‘non-interventionist, hands-off policy agenda, with the self employed broadly left to their own devices’.

June 20, 2017

Extending the length of working lives could boost UK GDP by £80 billion ⁰

by Neil Franklin • News, Wellbeing, Workplace

The UK could boost its GDP by around 4.2 percent (around £80 billion at today’s values) if the employment rate of workers aged over 55 could match that of Sweden, the highest performing EU country, according to a new PwC analysis comparing the employment of older workers across 34 OECD countries. There is a 12 percentage point gap between the employment rates of workers aged 55-64 in the UK and Sweden. PwC’s Golden Age Index is a weighted average of indicators – including employment, earnings and training – that reflect the labour market impact of workers aged over 55. The UK has remained middling in the rankings since 2003, falling by one place from 18th in 2014 from 19th in 2015. The report suggests that extending working lives could have a transformational effect on the economy.

June 14, 2017

Job polarisation is being driven by lack of access to technological skills, warns OECD ⁰

by Sara Bean • Knowledge, News, Technology, Workplace

The employment rate throughout OECD areas is finally returning to pre-crisis levels, but people on low and middle incomes have seen their wages stagnate and share of middle-skilled jobs fall. This is according to the latest OECD Employment Outlook 2017 which finds that the employed share of the population aged 15 to 74 years rose for the third consecutive year, and is expected to reach 61.5 percent by the end of 2018, above its peak of 60.9 percent in the fourth quarter of 2007. Its projections for the UK’s economy for 2017-18 anticipate that growth will ease as rising inflation weighs on real incomes and consumption, but business investment will weaken amidst uncertainty about the United Kingdom’s future trading relations with its partners.

June 14, 2017

Climate change demands a rethink for our economic models ⁰

by Neil Franklin • Environment, News

Swift and effective action is needed to create new, sustainable economic models to mitigate the adverse effects of climate change on the world’s working population, claims a report published by the International Bar Association Global Employment Institute (IBA GEI). The Climate Change and Human Resources Policies Report focuses on the relationship between climate change and employment, and aims to contribute to nascent discussions anticipating structural changes to business and the training needs of workforces transitioning to low-carbon economies. The report also highlights potential issues in relation to employment policies, labour law, ‘weak’ jobs, ‘expanding’ jobs and new jobs. Further, it draws attention to what some countries are doing to help their nations’ employees adjust to industrial change, and how trade unions, employers and educators are working together to deliver green skills training.

June 8, 2017

Long term problems predicted for EU businesses if gender pay gap persists ⁰

by Sara Bean • Legal news, News, Workplace

As we reported earlier this week, more needs to be done to ensure that female representation in the boardroom increases; and now a new report paints a negative future for European businesses if the pay gap isn’t adequately addressed. Mercer has warned that a failure to address the EU’s substantial gender pension gap (40 percent), could cause long-term problems for businesses and governments alike; as through its analysis, the consultancy has found that the pension gap varies widely from one member state to another, however half have gaps of 30 percent or more. In its white paper The Gender Pension Gap – From Awareness to Action Mercer outlines the key drivers behind the pension gender gap, how it will impact companies and how they can start to address it within their workforce. Women continue to be significantly under-represented at all levels of the work force; in the EU their participation rate is 10 percent lower than men. The European Commission’s recent proposal for a directive on work-life balance for parents and carers, including the introduction of carers’ leave for dependent relatives, aims at addressing this under-representation.

June 5, 2017

Podcast: Is universal basic income a Utopia for realists? ⁰

by Mark Eltringham • Comment, Podcasts

At his recent Harvard commencement ceremony, Facebook founder Mark Zuckerberg addressed the issue of universal basic income. In his speech he articulated the underlying premise of basic income as a way of redefining our relationship with work and society. “Every generation expands its definition of equality. Now it’s time for our generation to define a new social contract,” Zuckerberg said. “We should have a society that measures progress not by economic metrics like GDP but by how many of us have a role we find meaningful. We should explore ideas like universal basic income to give everyone a cushion to try new things.”

June 5, 2017

Taking action on climate change will boost economic growth, claims report ⁰

by Mark Eltringham • Environment, News

Integrating measures to tackle climate change into regular economic policy will have a positive impact on economic growth over the medium and long term, according to a new OECD report prepared in the context of the German Presidency of the G20. Investing in Climate, Investing in Growth claims that bringing together the growth and climate agendas, rather than treating climate as a separate issue, could add 1 percent to average economic output in G20 countries by 2021 and lift 2050 output by up to 2.8 percent. If the economic benefits of avoiding climate change impacts such as coastal flooding or storm damage are factored in, the net increase to 2050 GDP would be nearly 5 percent.

May 31, 2017

Every building on the planet must be net zero carbon by 2050 claims World Green Building Council ⁰

by Neil Franklin • Architecture, Environment, Facilities management, News, Property

The building sector, which is responsible for global emissions roughly equivalent to those of the whole of China, must operate at “net zero carbon” by 2050 if global warming is to remain under two degrees Celsius, the limit enshrined in the Paris Agreement. According to a new report from the World Green Building Council (WorldGBC), there are currently 500 net zero commercial buildings and 2,000 net zero homes around the globe (well under 1 per cent of all buildings worldwide), requiring a monumental and coordinated effort by businesses, governments and nongovernmental organisations to bring the building sector within striking distance of Paris Agreement targets. The report defines ‘net zero buildings’ as highly energy-efficient buildings which generate or supply the energy they need to operate from renewable sources to achieve net zero carbon emissions, and lays out specific actions that the private sector, governments and NGOs can take to ensure all new buildings operate at net zero carbon by 2030 and that all existing buildings are renovated to operate at net zero carbon by 2050.

May 30, 2017

We will soon all have to work into our 70s, claims World Economic Forum ⁰

by Mark Eltringham • News, Workplace, Workplace design

The retirement age in Britain and other developed countries will need to rise to 70 by the middle of the century to head off the biggest pension crisis in history, according to a report from the World Economic Forum. The world’s six largest pension systems will have a joint shortfall of $224 trillion by 2050, imperilling the incomes of future generations and setting the industrialised world up for the biggest pension crisis in history. To alleviate the looming crisis, governments must address the gaps in access to the pensions system and ageing populations as they are the key sources of the widening pension gap. These are the main findings of the new World Economic Forum report, We’ll Live to 100 – How Can We Afford It?, released today, which provides country-specific insights into the challenges being faced at a global level and potential solutions. The report is the latest study to calculate the impact of ageing populations in the world’s largest pension markets, which include the United States, United Kingdom, Japan, Netherlands, Canada and Australia. The issue has implications for the workplace that are already becoming evident as the working population ages and more people choose to defer retirement.