July 9, 2019
One-fifth of sole traders in self-employment don’t survive one year, and the majority don’t survive five, according to a new study from the Institute for Fiscal Studies (IFS). The analysis of HMRC tax records by researchers at the IFS was funded by the Office for National Statistics through the Economic Statistics Centre of Excellence (ESCoE) and the Economic and Social Research Council. More →
February 13, 2019
Chronic work-related stress has risen sharply among small business owners, with a fifth of small business owners look to taking a job elsewhere to stay afloat this year. This is according to new research from AXA, which reveals that many are adopting short-term planning and cutting reliance on external funding ahead of Brexit. Staying agile and light is a common strategy, but may not give businesses the best chance of survival if financial cushions are not in place too. The study finds a sharp increase in financial anxiety amongst business owners. Over the course of 2018, those reporting they felt chronically stressed about their businesses increased by almost 50 percent, reaching 29 percent by year end. More →
September 17, 2018
Recent ONS figures showing a rising employment rate could be inflated by the growth of zero-hour contracts within the gig economy, as the number of UK workers on zero hour contracts having more than tripled since 2012. This is propping up overall employment levels by accounting for almost a quarter of overall employment growth, new data by Adzuna has suggested. With the employment rate currently at a record high of 75.7 percent according to the ONS, Adzuna’s data compares recent growth in the number of people in work overall to the increasing number of zero hour contracts, to ascertain how much these contracts have contributed to the growth.
June 28, 2018
Policymakers and business leaders must work to improve wellbeing among the self-employed, a new report by the Centre for Research on Self-Employment (CRSE), has said. Instead of exploring self-employed wellbeing through the conventional prism of economic success, the report, The Way to Wellbeing, adopts a new approach. It considers people’s overall life satisfaction, based on their subjective assessments of various aspects of their lives – including jobs, income, health, family life and leisure. The report found that wellbeing was higher among self-employed people by using subjective assessments of different aspects of their lives. This is the first time a major report of its kind has taken a holistic view of wellbeing – looking at jobs, health, family life and leisure – to build an overall picture of life satisfaction, rather than just using a narrow measure of economic success.
March 21, 2018
A year since the invocation of Article 50 to beginning the process of the UK leaving the EU, employee services provider Personal Group has published a survey based on new research which claims that 32 percent of UK employees predict that Brexit will negatively impact their current employment. The study of around 1,100 UK employees claims that team leaders and managers are the most uncertain about their employment post Brexit, with 42 percent admitting they are unsure about how it will affect their current employment. Interestingly, men are more optimistic than women, with twice as many men expecting the change to have a positive impact on their employment versus women (3.5 percent versus 1.6 percent).
August 18, 2017
There continues to be a significant gap between the employment rate of disabled people and the rest of the population; according to the Office for National Statistics, just 49 percent of disabled people of working age are in employment. This is why getting genuine buy-in from the top is key to improving levels of disability disclosure and helping to facilitate requests for workplace adjustments. That was the conclusion of a recent round table hosted by the Recruitment Industry Disability Initiative (RIDI) which also found that while some HR and diversity specialists are sceptical about the level of support available from senior leadership teams, once the topic is brought to the attention of the board, the response is often overwhelmingly positive. Practical ways in which leaders can bolster disability initiatives shared at the event include; identifying disability champions within the business who can communicate their own stories, implementing unconscious bias training, instigating & reverse-mentoring initiatives where senior managers are partnered with disabled colleagues and leading by example by being open about their own disabilities.
May 24, 2017
The slowdown in global productivity – already underway before the last economic crisis – combined with sluggish investment, continued to undermine rises in economic output and material living standards in recent years in many of the world’s economies, according to a new report released by the OECD. In its latest Compendium of Productivity Indicators, the OECD also highlights a decoupling between productivity growth and higher real average wages in many countries, resulting in continued declines in labour’s share of national income. The report claims that the contribution of labour utilisation (hours worked per capita) to GDP growth has risen markedly in a number of countries, notably in the United Kingdom and the United States. However, rises in labour utilisation reflect two opposing effects: higher employment rates but lower average hours per worker, which points to more part-time working, often in low productivity jobs.
May 16, 2017
The UK economy is about to be hit by a fall in basic pay awards and real wages warns the CIPD, which has found that employers’ median basic pay expectations in the 12 months to March 2018 have fallen to 1 percent compared to 1.5 percent three months ago, which is lower than at any time during the past three and a half years. The findings from the latest CIPD/The Adecco Group Labour Market Outlook survey are consistent with recent Labour Market Outlook reports, which have indicated a slowing in the rate of basic pay growth, and with official labour market data. The report also found that 12 percent of private sector firms say the UK’s decision to leave the European Union has led them to consider relocating some or all of their business operations abroad. Popular relocation destinations include the Republic of Ireland (18 percent), Germany (17 percent) and France (13 percent).
April 24, 2017
A new study from Adecco suggests that a large number of employees have a generally positive attitude towards technology in the workplace with many seeing it as increasing employment opportunities and nearly half believing that the advent of artificial intelligence and automation will enable a greater uptake in levels of flexible working. According to the Humans vs Robots report, two-thirds (65 percent) of employees believe that overall, technology has actually increased the number of jobs available to them, 54 percent believe that advances in technology will continue to create more jobs than it destroys over the next decade, 48 percent think AI will positively benefit them, by helping them to work more flexibly and a large majority of workers (87 percent) think that computers will make their role easier within the next ten years
March 20, 2017
Losing a job creates a ‘new normal’ for personal wellbeing that never goes back to previous levels, a new international study claims. Unemployment is damaging to people’s wellbeing regardless of their age, gender, level of education, ethnicity or region. The new study, co-authored by the What Works Centre for Wellbeing and the University of East Anglia, looked at the impact of unemployment across a number of countries and found that joblessness tops even divorce or widowhood in its impact on our life satisfaction. The evidence also suggests people never adapt fully to unemployment. The longitudinal study of 24,000 people found on average that individuals had lower life satisfaction following unemployment and this never recovered to the pre-unemployment levels. These results applied to men and women, but the effects were found to be stronger for men. Men also were found to be happier than women once in a new job. The type of work is also important with temporary jobs proving worse than permanent work.
March 17, 2017
Gig economy workers are as likely to be satisfied with their work as workers in traditional employment, according to a major new survey published today by the CIPD which provides the first robust estimate of the size of the gig economy. Currently, 4 percent of UK working adults aged between 18 and 70 are working in the ‘gig economy’, which means approximately 1.3 million people are engaged in ‘gig work’ according to ‘To gig or not to gig: Stories from the modern. The report, which is based on a survey of 400 gig economy workers and more than 2,000 other workers, as well as 15 in-depth interviews with gig economy workers found that nearly two-thirds (63 percent) believe the Government should regulate to guarantee them basic employment rights and benefits such as holiday pay. But the research also found that, contrary to much of the rhetoric, just 14 percent of respondents said they did gig work because they could not find alternative employment.
January 2, 2018
We need to stop talking about self-employment as a monocultural phenomenon
by Andrea Broughton • Comment, Flexible working
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