Search Results for: business

Global talent crunch will include UK workforce deficit of nearly 3 million employees by 2030

Global talent crunch will include UK workforce deficit of nearly 3 million employees by 2030

by • News, Workplace

A shortage of skilled employees will continue to impede growth and if not addressed, could have a significant impact on major global economies by 2030, claims a new study. Korn Ferry’s Global Talent Crunch study estimated the gap between future talent supply and demand in 20 major economies at three milestones: 2020, 2025 and 2030, and across three sectors: financial and business services; technology, media and telecommunications (TMT); and manufacturing and found that a talent deficit issue could threaten economies and sectors across Europe. Germany could experience the largest deficit of 4.9 million workers and could lose out on $629.89 billion of annual revenue by 2030 if labour shortages are not addressed – equivalent to 14 percent of its economy.

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The quest for wellbeing has taken over from our search for productivity

The quest for wellbeing has taken over from our search for productivity

by • Comment, Wellbeing, Workplace design

For decades, humankind has sought to establish the link between office design and productivity. And by humankind I mean a parochial band of researchers, suppliers, workplace specialists, futurologists and designers with a special interest in the whole thing. Most other people only expressed a passing interest in the subject. It did not seem to matter to this band that the whole thing had been proved many times over many years, invariably falling on cloth, if not exactly deaf, ears. We’ve known for some time what makes people happy and productive at work and much of the new research has merely served to proved something we already know. Undaunted, researchers maintained their quest for the evidence that would get the message across to an apparently indifferent world. This quest has mutated over the past few years into something that is at first glance only slightly different but which has some rather interesting implications. The go-to workplace topic of the early 21st Century is no longer productivity per se, but wellbeing, and that is making all the difference.

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No surprises in new report on future workplace trends

No surprises in new report on future workplace trends

by • Comment, Flexible working, Technology, Wellbeing, Workplace design

The latest Global Workplace Trends report from Sodexo focuses on the ‘workplace experience’ and how it affects levels of engagement, wellbeing and corporate performance. It’s an undemanding study that sets out seven trends covering familiar themes in a familiar way, even though the authors claim it offers ‘fresh insights’. As well as the idea of ‘experience’, it touches on ideas about the intersections of digital and physical space and the implications for people and organisations as well as the workplace professions. It uses the standard vocabulary, various buzzwords and the usual presuppositions to look at the impact of Millennials, AI, the sharing economy and so on. The visuals are the usual parade of smiling, diverse – but no unattractive, disabled and old – hipsters sharing screens and being creative in sun-dappled interiors. Sauce it with some virtue signals and it’s job done.

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Quarter of UK managers would take a pay cut for a job with a clear purpose beyond profit

Quarter of UK managers would take a pay cut for a job with a clear purpose beyond profit

by • News, Wellbeing, Workplace

Quarter of UK managers would take a pay cut for job with purpose beyond profitMore than a quarter of managers (27 percent) in British companies would likely accept a salary cut to work for a company that has a clear purpose beyond profit a new report claims.  A third (32 percent) would actually consider leaving their job if a greater purpose was unclear, while more than half (53 percent) would if their company’s values and purpose didn’t align with their own. The YouGov survey, commissioned by Danone UK, highlights the importance of having a defined company purpose that marries commercial success with social progress.  The findings support a new report by not-for-profit think tank Tomorrow’s Company and Danone UK, that explores the importance of having a purpose beyond profit in helping companies to prosper in the face of workplace challenges created by an uncertain world. The Courage of their Convictions is built from interviews with senior leaders from within some of the UK’s biggest purpose-driven brands, including Danone, John Lewis, Mars, Philips, Tata Consultancy Services and Unilever.

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Commercial property lending surged in the second half of 2017

Commercial property lending surged in the second half of 2017

by • News, Property

facilities managementCommercial property lending in the UK surged at the end of last year, according to the latest figures from Cass Business School. New commercial property lending overall reached £44.5bn for the whole year, equalling figures for the previous year. Commercial lending had dropped by 24 per cent in the first half of the year, however, the second half of 2017 was much busier, adding another £26.8bn in new lending. The total value of loan books identified by the CASS research increased by four per cent to £199bn by the end of the year, including both drawn and undrawn amounts. The research from Cass showed that non-bank lenders were actually the most active group, increasing their market share of new loans to 14 per cent from 10 per cent a year earlier. In total, they wrote £6bn of new loans of which 60 per cent was sourced from insurance and pension funds

Faced with era of AI, employers focus on skills and employees crave jobs with purpose

Faced with era of AI, employers focus on skills and employees crave jobs with purpose

by • News, Technology, Workplace

According to Mercer’s 2018 Global Talent Trends Study – Unlocking Growth in the Human Age, 96 percent of UK companies have innovation on their core agenda this year and 92 percent are planning organisation design changes. At the same time, employees are seeking control of their personal and professional lives, with more than half asking for more flexible work options. As the ability to change becomes a key differentiator for success in a competitive global climate, the challenge for organisations is to bring their people along on the journey, especially as the top ask from employees is for leaders who set clear direction, claims the report.

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Majority of staff say managers don’t care if they’re happy, even if it impacts performance

Majority of staff say managers don’t care if they’re happy, even if it impacts performance

by • News, Wellbeing, Workplace

Majority of staff say managers don’t care if they’re happy, even if it impacts performance

It probably comes as no surprise to learn that people work better if they’re happy, but according to a new survey over three quarters (79 percent) of workers believe their boss doesn’t care whether or not they are happy at work, even if being happier helps improve their performance.  The 2018 Happiness Survey from One4all asked employees from different age groups, genders and industries about the impact their happiness at work has on their productivity, and found that 39 percent of workers will work harder if they are happy in their current role or place of work. It suggests that happiness amongst workers goes a long way: almost a third (30 percent) of workers said they would even be more willing to work overtime or for longer when they are happy. The data also revealed that 38 percent of workers say their happiness impacts their performance at work, which means employee productivity and results also see a positive effect from a happy workforce.

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UK workers suffer a mid-life work crisis, with engagement levels dipping significantly at 45

UK workers suffer a mid-life work crisis, with engagement levels dipping significantly at 45

by • News, Workplace

UK workers suffer a mid-life work crisis, with engagement levels dipping significantly at 45

A new survey has suggested a correlation between age and engagement levels, with those aged 45 to 54 the most likely to say their manager is not an engaged employee (41 percent), and that they are not an engaged employee (47 percent). In fact, almost two in five (36 percent) British employees think their manager is disengaged at work, according to new research from Rungway. The survey of 2,000 UK people defined an engaged employee as ‘someone who is fully absorbed by and is enthusiastic about their work, and so takes positive action to further the organisation’s interests.’ The findings also suggest managers’ disengagement may impact on employee engagement levels more broadly, with 40 percent of survey respondents saying they themselves are not an engaged employee. Those over 65 were found to be the most engaged at work (76 percent), followed by those aged 25 to 34 (69 percent) and 18 to 24-years-old (64 percent).

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A few demonstrable truths about agile working that aren’t talked about enough

A few demonstrable truths about agile working that aren’t talked about enough

by • Comment, Workplace design

Some topics generate a level of debate totally out of proportion with the underlying facts. Whether it’s the benefit of sit-stand desks, the influence of colour on productivity or the threat (or potential) of robotics in the office, too often it’s all sizzle and no sausage. Agile working falls into that category. It’s one of those ideas that sounds too good to be true: give people a raft of settings to work in, power them up with a few mobile gadgets and you can magically transform your workspace to ‘Google standards’ and attract all the best talent in town. But what about the reality?

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Nearly half of London Law firms are already utilising AI

Nearly half of London Law firms are already utilising AI

by • AI, Cities, News, Technology

Nearly half of London Law firms are already utilising AIThere have already been warnings from workplace experts that the legal profession isn’t one to choose for those starting out on their careers as it’s ripe for automation, and a new survey claims these changes are happening fast. According to a survey of over a 100 law firms by CBRE, nearly half (48 percent) are already utilising Artificial Intelligence (AI) and a further 41 percent have imminent plans to do so. Of the firms already employing AI, 63 percent of firms are using it for legal document generation and review, and the same proportion for e-discovery. Due diligence (47 percent) and research (42 percent) were also common applications, along with compliance and administrative legal support (each 32 percent). The use of AI will affect employment levels, with the greatest impact predicted at the junior and support levels, where nearly half (45 percent) of firms believing that there will be a reduction in headcount. In contrast, only 7 percent of firms believe that senior headcount levels will be reduced.

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UK companies lag in offering flexible and remote working, claims report

UK companies lag in offering flexible and remote working, claims report

by • Flexible working, News, Technology

The UK lags behind in the shift to flexible and remote working, putting more emphasis on effective meetings to coordinate scattered teams, according to a new report, The Modern Workplace 2018: People, Places & Technology (registration required) from workplace software company Condeco. Across the world, the study of 500 organisations in six countries claims, workers are in the midst of a shift to flexible and remote working – spending more time working from home, on the move or from multiple locations. However, the UK is significantly behind in embracing these trends, which could negatively affect worker satisfaction as well as holding back firms who are competing for the best international staff.

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Globalisation prompts increase in number of CEOs from abroad at FTSE companies

Globalisation prompts increase in number of CEOs from abroad at FTSE companies

by • News, Workplace

Globalisation increasing number of CEOs from abroad at FTSE’s largest listed companies

Globalisation is leading to a growing trend amongst FTSE listed companies to hire senior leaders from abroad as organisations look for leaders with international experience. Although UK CEOs remain the first choice, with 60 percent of CEOs who were appointed through internal promotion last year being British, according to the Robert Half FTSE 100 CEO Tracker, UK companies are now increasing the number of global CEOs within the FTSE 100. In practise this means that the total number of UK CEOs leading the FTSE 100 has slipped to 61 of the total 100 companies from 65 a year ago. Nearly half (47 percent) of those CEOs who were hired externally for the top position were of other nationalities and of the 14 new CEO hires made this year, eight were of UK heritage, while six are leaders from the rest of the globe, edging the dial ever closer to a 50/50 split.

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