Search Results for: pension

May 17, 2016

Lack of productivity growth continues to impact on UK employment ⁰

by Sara Bean • Flexible working, News, Workplace

The Government to be more interventionist in its support and work in partnership with business to help improve organisations’ productivity to improve salaries and performance, the CIPD has said. This follows the second quarter in a row when the CIPD’s survey of employers has anticipated a pay figure below the Government’s official inflation target of 2 percent. The Labour Market Outlook highlights how low inflation, expanding labour supply and the lack of productivity growth are working in combination to reduce the economic pressure for employers to pay their staff more. The UK is now in its eighth year of a productivity slump, which for employees means that pay growth is likely to remain sluggish until at least the end of the decade and for employers means that low productivity leads to tightened budgets. This ‘jobs-rich, pay-poor’ economy is set to continue as pay awards are expected to only rise by 1.7 percent in the next year.

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April 28, 2016

New partnership to encourage creation of age friendly workplaces ⁰

by Sara Bean • News, Wellbeing, Workplace

Between 2005 and 2015 the number of people working over the age of 50 in the UK increased by 2.5 million, while those working over the age of 65 more than doubled. By 2022, there will be 12.5 million job vacancies that need to be replaced due to people leaving the workforce in addition to the two million new vacancies that will be created. However, there are estimated to be just seven million younger people to fill them. Recruiting and retaining older workers will be critical to closing this gap. Now in a major new initiative, the Centre for Ageing Better has gone into partnership with Business in the Community to identify and test what works to recruit, retrain and retain older workers. Through this partnership, it wants to hear from employers across the country who see the benefits of older workers and who are implementing changes to create age friendly workplaces.

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March 22, 2016

While politicians squabble, here’s what the Budget meant for the workplace ⁰

by Mark Eltringham • Comment, Facilities management, Legal news, Workplace, Workplace design

Strange as it may seem now, there was a Budget last week. We’d planned to produce a report on it once the dust had settled but given that whatever dust had originally been kicked up has now been swept away by a political storm, it’s only now we feel able to offer some perspective a few days out. As ever these days, the budget touched on a number of aspects of the workplace, sometimes hitting the mark and sometimes suggesting politicians don’t yet understand how people work. There was the usual stuff about rates and commercial property but also plenty to digest about the freelance economy, productivity, new technology, flexible working legislation and the current, often faltering attempts to develop wealth and infrastructure as well as the 21st Century creative and digital economy in places other than London. There’s plenty to digest here and plenty of people have already had their say, so a chance to grab a coffee and take all or some of it in.

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March 22, 2016

Third of workers over 50 will retire later than planned, but not all reluctantly ⁰

by Sara Bean • News, Workplace

A third of people aged over 50 who are employed in the private sector are now planning to retire later than they previously thought according to Aviva’s latest Working Lives report. A lack of pension savings (46 percent) is the primary reason for people to postpone their retirement plans, and the amount that would be available through the state pension (32 percent) was also an issue. Not all the reasons given for working longer were negative though, with one in five (21 percent) of those expecting to work longer doing so because they feel they still have a lot to offer their employer. A similar proportion (20 percent) said that job satisfaction has encouraged them to put off retirement. Levels of job satisfaction were highest amongst those aged over 65, with a large majority (86 percent) of private sector workers in that age group saying they enjoy their work, compared with just 57 percent of those aged 18-64.

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February 29, 2016

Full employment drive can help over a million more UK over-50s into work ⁰

by Neil Franklin • News, Wellbeing, Workplace

The UK government should find ways to encourage more than one million more over-50 into work by the end of this parliament, claims the Resolution Foundation think tank. The call comes ahead of a final report this week following a nine-month investigation into the issue full employment. The Chancellor announced a commitment to full employment in last year’s Summer Budget, with the government committing to report annually on progress towards this objective. The Foundation says that support for the over 50s, particularly to keep them from leaving the labour force, should be at the heart of the government’s strategy. Older people have contributed the fastest jobs growth of any age group over the last decade, leaving employment rates for workers aged 50-64 and 65+ are at record highs. The Foundation says that previous progress shows this group can and should be at the centre of plans for realising full employment.

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February 15, 2016

Government needs to play catch up with needs of the self-employed ⁰

by Mark Eltringham • Flexible working, News, Technology

Politicians and legislators are failing to keep pace with the changing nature of work and as a result many of the UK’s growing army of freelancers feel like second class citizens. That is the key finding of a new report commissioned by the Government and authored by entrepreneur Julie Deane. She claims that the Government should do more to bring the self-employed into line with legislation affecting the wider working population, including access to higher rates of parental leave and pay. The report sets out ten key recommendations, notably that the parental allowance should be brought into line with the rules for employees, who are paid a higher portion of their salary for the first six weeks of statutory maternity pay before the percentage drops. It also suggests that the education system should do more to prepare young people for a changing world of work and that more should be done to offer a choice of workplaces for the self-employed..

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February 5, 2016

What the commercial property market tells us about trends in office design ⁰

by Paul Goodchild • Comment, Property, Workplace design

It’s become commonplace in recent years for certain people to foresee the death of the office. The problem with this argument is that, in spite of its drawbacks, office life maintains an attraction for both employers and employees and there will always be an upper limit on how long people want to spend away from other people. Things are changing but the death of the office is a myth. As we’ve known for at least a quarter of a century, there is no absolute need for us to go to work at all. Theoretically we could just do away with offices completely if we wanted to. But as we have seen, the fact we have evolved technology to the point where we could forget about bricks and mortar, doesn’t necessarily mean we will. Not only are there practical reasons for offices to continue to exist, there are emotive ones too. If you want evidence of this, look no further than the records currently being set by the UK’s commercial property markets.

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February 3, 2016

Government plans to cut size of estate by 75 percent by 2023 ⁰

by Mark Eltringham • Facilities management, News, Property, Public Sector, Workplace design

The UK Government has today published the latest edition of its annual State of the Estate report, which gives an update on plans to consolidate, divest and modernise the central government property portfolio. Minister for the Cabinet Office Matt Hancock claims that the current administration has reduced the size of the estate by 2.4 million sq. m. since 2010. (As is the way of these things, the minister claims this is equivalent to 336football pitches, 43 Shards or more than the entire principality of Monaco. Presumably individual departments measured their own successes in blue whales and double decker buses.) He claims that this means that the total central government estate has fallen below 5,000 holdings for the first time and could fit inside the area of West Finchley (which is a new measurement on us). The reduction has been achieved by selling property ranging from the historic Old War Office (top) to an old bakery and lighthouse.

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February 2, 2016

Record investment in UK commercial property in 2015, but trouble ahead ⁰

by Mark Eltringham • News, Property

A near record £67.5 billion was invested in UK commercial property in 2015, making it the second strongest year on record and 46 per cent above the 10-year average, according to research from commercial property analysts CoStar Group. Momentum slowed sharply in the second half of the year, with investment down 19 per cent from the previous year. According to CoStar, this reflects the fact that investment activity has been especially strong over the previous 18 months and good opportunities are harder to find, but also that global economic and political uncertainty are impacting investment decisions. Nevertheless, 2015 was a strong year for the UK’s Big Six regional cities. Office investment increased 16 per cent to £3.2 billion, which is the highest level since the recession and more than double the eight-year average. Foreign investors seeking standing assets and development opportunities underpinned much of this investment.

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January 14, 2016

UK workforce is on the brink of a mass exodus of senior staff ⁰

by Sara Bean • Flexible working, Legal news, News, Workplace

Despite government warnings of a looming skills shortage there remains a strong societal pressure for older workers to leave the workforce at state pension age. In a poll of 2,001 British adults by Randstad, three quarters of respondents report feeling this pressure, with 32 percent of respondents saying the pressure is ‘significant’. Only one in six workers (17 percent) feel there is no pressure. More than a third of workers (35 percent) plan to retire early as they feel “like they won’t be wanted in the workforce when older” – and a small but significant proportion of workers (7 percent) plan to retire early because they are worried about age discrimination. Keeping older workers says the report, requires initiatives like increasing the availability of flexible working and rolling-out phased retirement programmes, as well as a wider effort to publicise these efforts and change the attitudes of older workers.

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September 24, 2015

Unhelpful generalisations about generations based on hype, claims report ⁰

by Sara Bean • Flexible working, News, Technology, Wellbeing, Workplace

For the first time, the age span of people in any workplace is now routinely between 16 and 75, as more people work past 60 than ever before. This means the UK is experiencing the widest working demographic in living memory. Yet generalisations about generations may simply be unhelpful, a new study into employee benefits has concluded. The report by Martha How, reward partner at Aon suggests a trend towards generational segmentation is much too simplistic and not necessarily supportive of employees or employer’s needs. She argues that the common view that we now have five generations in the workforce, each with differing needs and preferences are being overplayed. In fact, there is often too much of a tendency drift into caricature – for example, that twenty-somethings aren’t interested in pensions, while fifty-somethings worry mainly about pension and health.

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September 22, 2015

The worldwide demographic timebomb is transforming the workplace ⁰

by Mark Eltringham • Flexible working, News, Wellbeing, Workplace

There are a number of reasons why we shouldn’t be drawn into blindly accepting the narrative about Generation Y’s impact on the workplace. It seems the most important is also the least talked about. It is that the workforce is actually ageing in the world’s leading economies. While it may be true that 27 is middle -aged for employees at technology companies, for pretty much everybody else, shifting demographics, longer lives, improving health, falling pensions and changing personal preferences are likely to mean they stay in the workforce for longer. This is true in both the UK and US, where Millennials may make up the largest demographic grouping in the workplace but are still in a minority within an increasingly diverse workforce. The dynamics of these changes are playing out in different ways in different countries, but the forces are essentially universal.

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