Search Results for: finance

People switch their focus to work life balance at age 45

People switch their focus to work life balance at age 45

work life balanceMore than three in five UK adults (61 percent) favour work life balance over a high salary, according to a new study from Hitachi Personal Finance. The report also claims that it is those aged 45 and upwards who are most likely to seek out a better overall quality of life at the expense of other job priorities, with 82 percent of workers aged over 45 saying they would always opt for a better life balance over a high salary, given the choice, compared with 49 percent of under 45s. More →

Agile workplaces need to strike the right balance

Agile workplaces need to strike the right balance

Meeting rooms in agile workspacesMeeting rooms are a lot like buses. You wait ages for one and then three become available all at once. Sometimes none turn up at all. Research by Kinnarps, which we do as part our Next Office consultancy, has found something that might not come as a great surprise. Employees are deeply frustrated with the lack of meeting room availability, often even in agile workplaces, especially locked-down project rooms. More →

Automation will boost productivity, but risks leaving people behind

Automation will boost productivity, but risks leaving people behind

Automation of an eyeUnless the Government steps up efforts to manage the transition to automation, many people and entire regions of the UK face being left behind and British businesses could find themselves becoming less competitive, says the Business, Energy and Industrial Strategy (BEIS) Committee in a report published today.
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More than half of female professionals have never negotiated a pay rise

More than half of female professionals have never negotiated a pay rise

More than half of all female professionals – 57 percent – have never attempted to negotiate a pay rise, according to a new report from professional recruitment firm Robert Walters. Its findings suggest that men are 23 percent more likely to negotiate a pay rise across all stages of their career, even though the amount that negotiators pitch for is not far removed from their female counterparts. More →

Final line up for Workplace Week announced

Final line up for Workplace Week announced

Marking its ninth consecutive year, Workplace Week London 2019 – brainchild of Advanced Workplace Associates (AWA) – will take place the week commencing 11 November 2019. 30 organisations, a third of which are debutants, have confirmed their support for the philanthropic week, which has so far raised over £100,000 for BBC Children in Need. More →

Are coworking spaces really all the same?

Are coworking spaces really all the same?

If you’ve ever shopped around for a coworking space, you’ve undoubtedly heard every shared workspace operator brag that its offices aren’t just a place to work – they’re all about community and culture. As Fast Company’s Ruth Reader put it, we’re just a “bunch of co-work startups saying the same things about how different [we] are.”  She’s not entirely wrong, but (with all due respect) I think she’s missed the point about coworking.

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Workers worldwide think they could outperform their own bosses

Workers worldwide think they could outperform their own bosses

manager and workersManagers should seriously consider giving their employees the reins for a day to test new research that indicates seven out of 10 employees worldwide (69 percent) say they can do their boss’s job better, despite nearly the same number of workers (71 percent) grading their boss’s competence a B or better.

The Global State of Managers research comes from The Workforce Institute at Kronos Incorporated and Future Workplace, which examined how nearly 3,000 employees in Australia, Canada, France, Germany, India, Mexico, the U.K., and the U.S. would grade their manager’s effectiveness across five factors: communication, competence, empowerment, professional development, and support.

According to the study, employees grade their managers high on competence but nearly fail them when it comes to work-life balance and job coaching. Overall, people feel managers are good at their jobs, with the majority of employees grading bosses an A or B for competence (71 percent) – the highest grade given – and work ethic (70 percent).

Bosses also received high marks (B or better) for their communication skills, people management skills, and ability to handle performance-related issues (all 67 percent). The older the employee, however, the more critical they are of their boss: Baby Boomers1 and Gen Xers grade managers more harshly with a C, D, or F for overall people management skills (37 percent and 38 percent, respectively). Worldwide, the employee-manager connection remains critically important: 70 percent of employees say their relationship with their manager is an extremely or very important factor when deciding to remain at their current job, with 22 percent agreeing it’s somewhat important. Millennial (79 percent) and Gen Z (73 percent) employees feel strongest about the importance of the manager relationship for retention compared with Gen X (66 percent) and Baby Boomer (62 percent) counterparts.

Other findings

  • Nearly seven out of 10 people think they can do their boss’s job more effectively.
  • While bosses worldwide are well regarded by their employees, these same employees think they could personally manage even more effectively, with younger Millennial (73 percent) and Gen Z (70 percent) employees most confident they could do better.
  • Based on grades given of a C, D, or F, at least one in three employees feel their manager could improve at modelling work-life balance (37 percent); their ability to coach for better job performance (37 percent); handling performance-related issues (33 percent); and communication (33 percent).
  • For overall people management skills, the majority of workers would “pass” their boss with an A (26 percent), B (37 percent), or C (25 percent); yet 4 percent of employees give a solid F for performance.
  • French, German, and U.K. managers graded worst for competence, while Indian and Mexican workers are happiest overall…with one big exception.
  • Indian employees are by far the most satisfied with their managers, with at least eight out of 10 grading managers an A or B in every category. Conversely, French, German, and U.K. workers are by far the most pessimistic about manager performance, as those countries ranked in the bottom three in every category surveyed
  • Most competent: India (87 percent); Australia (76 percent); Canada (75 percent); Mexico (75 percent); U.S. (71 percent); Germany (62 percent); U.K. (61 percent); and France (59 percent)
  • Best communicators: India (90 percent); Mexico (74 percent); Australia (68 percent); Canada (68 percent); U.S. (67 percent); Germany (59 percent); France (58 percent); and the U.K. (56 percent)
  • Hardest-working managers: India (81 percent); Australia (75 percent); U.S. (73 percent); Canada (72 percent); Mexico (70 percent); Germany (63 percent); U.K. (62 percent); and France (58 percent)
  • Best job coaches: India (83 percent); Mexico (70 percent); U.S. (64 percent); Australia (63 percent); Canada (61 percent); France (56 percent); Germany (55 percent); and the U.K. (51 percent)
  • Most adept at handling performance-related issues: India (86 percent); Mexico (73 percent); U.S. (70 percent); Australia (68 percent); Canada (66 percent); Germany (59 percent); U.K. (57 percent); and France (56 percent)
  • Role models for work-life balance: India (80 percent); Mexico (70 percent); Canada (65 percent); U.S. (65 percent); Australia (62 percent); France (55 percent); Germany (55 percent); and the U.K. (53 percent)

 

Differences by sector and nationality

Despite rating their managers No. 1 in all categories, 95 percent of Indian employees still say they could do their boss’s job better all of the time (47 percent) or some of the time (48 percent). This sentiment is followed by 87 percent of Mexican workers and 71 percent of French workers. Canada (61 percent) and U.S. (59 percent) workers feel the least confident that they could do their boss’s job better – yet it’s still more than half of all employees.

Managers in the technology industry are on top overall, scoring highest marks (A or B) in people management (81 percent), communication (75 percent), and modeling work-life balance (70 percent). Professional services managers (e.g. accountants, engineers, lawyers) rank second-best, with 70 percent of employees grading   them a B or better for people management and communication. Employees in the technology (77 percent) and finance (70 percent) sectors say they have a strong or very strong relationship with   their boss, followed by manufacturing (62 percent); education (61 percent); retail (61 percent); and professional services (61 percent).

There is room for managers to model better work-life balance in frontline industries – i.e. those who must be present to do   their jobs – with 53 percent of employees in federal government, 42 percent in healthcare, and 42 percent in retail giving their boss a C or   worse.

Regarding pure competence, managers are graded worst – C or lower – by public safety (44 percent); federal government (39 percent); transportation/distribution/logistics (35 percent); and healthcare (34 percent) employees. More than one in three employees give poor marks of a C or worse for their manager’s work ethic in federal government (37 percent); healthcare (34 percent); transportation/distribution/logistics (34 percent); and manufacturing (33 percent).

Image by Pixabay 

Aping our robot overlords, Instagrammable buildings and some other stuff

Aping our robot overlords, Instagrammable buildings and some other stuff

What happens to people when their skills become obsolete? If you’re not asking yourself this question already, you probably should. A new study from researchers at MIT and Wharton is the basis for this piece in Quartz at Work which considers the implications for what looks like a small technological change and its consequences for a large number of people who had to reset what they offered employers. More →

Legislation and trading conditions biggest worries for firms

Legislation and trading conditions biggest worries for firms

Legislation and a difficult economic climate are the biggest challenges facing start-ups in eight major business sectors according to a survey carried out by Safestore. The survey set out to establish the biggest concerns for biggest owners, their most fundamental goals, and what they believe to be the main reasons for a business failing. More →

Governments should respond to needs of older workers

Governments should respond to needs of older workers

Illustration of older workers in an officeWhile firms are already being asked to do more to support their older workers by organisations like The Centre for Ageing Better, a new OECD report is arguing that it is an issue that Governments are not addressing as well as they might. It claims that the rapidly ageing population of countries around the world means that governments should promote more and better job opportunities for older workers to protect living standards and the sustainability of public finances.

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Firms need to place more value on older workers

Firms need to place more value on older workers

Older workers are now a key part of the workforceAs we live longer lives, it’s inevitable that more of us want to work for longer. It makes good business sense too: with fewer younger people starting work to replace those set to retire in future years, coupled with uncertainty over Brexit and labour shortages, employers can’t afford to lose older workers.

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“War for talent” and Brexit ramping up staff retention efforts

“War for talent” and Brexit ramping up staff retention efforts

Is the war for talent intensifying?News that over one million EU nationals have been given permission to remain in the UK after Brexit, gaining settled or pre-settled status offers businesses expanded talent pools for plugging skills gaps and talent shortages in their workforce. New research claims that talent management concerns are on the rise. With the ongoing ‘war for talent’ intensifying over future skills requirements, businesses must remain vigilant when it comes to the growing technical skills gaps in their workforce, the report suggests. More →