Search Results for: employed

January 18, 2018

Over 50s will come to dominate self-employed workforce by 2024, report claims

by Mark Eltringham • News, Wellbeing, Workplace

The number of over-50s in work is rapidly increasing, so much so that this demographic is set to make up the majority of the UK’s self-employed workforce within the next seven years. The updated research from Hitachi Capital UK and CEBR (Centre for Economics and Business Research) found a rebalancing of the economy away from younger generations, as the 24 million over-50s in the UK become an increasingly important demographic of entrepreneurs and business owners. The data also suggests that an increasing number of 50-64 year olds choose not to retire and instead stay active in the labour market, with the rate of employment rising significantly between 2012 and 2016 from around 65 percent to 71 percent. CEBR projections show that the number of employed 50-64 year-olds will surpass 9 million before the end of 2018, and by 2021 there will be 10 million 50-64 year olds in work.

November 14, 2017

Millions of unemployed over 50s struggle more than young people for jobs

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

New data published today shows that the over 50 age group experience an ‘unemployment trap’ – meaning they are more likely to be out of work than younger age groups, and once unemployed they struggle more than younger jobseekers to get back into employment. Currently almost a third of 50-64 year olds in the UK are not in work – some 3.3 million people. Within this, 29 percent are recorded as ‘economically inactive’ – not engaged in the labour market in any way – which is more than twice the rate of those aged 35-49 (13 percent). It is estimated that around one million of the over 50s who are out of work left employment involuntarily due to issues such as ill health, caring responsibilities or redundancy. Some 38 percent of unemployed over 50s have been out of work for over a year, compared to 19 percent of 18-24 year olds and the Centre for Ageing Better claims that employment support is failing this age group.

November 7, 2017

New research identifies nine distinct segments of the self employed workforce

by Mark Eltringham • Flexible working, News

Far from being a homogeneous group, nine distinct segments of the solo self-employed workforce have been identified in new research published by the Centre for Research on Self-Employment, in partnership with IES. This segmentation furthers understanding of the solo self-employed population, including the levels of independence and security, and variation in earnings across this broad section of the UK workforce. The solo self-employed are those who do not employ other people and therefore work on their own account, and makes up 84 per cent of the self-employed workforce.

July 5, 2017

Minimum wage should be extended to the self employed and gig economy ⁰

by Mark Eltringham • Flexible working, News

The government should extend minimum wage legislation to protect some of the UK’s 4.8 million self employed workforce as part of its drive to tackle low pay and insecurity in the modern workforce, according to a new report published by the Resolution Foundation. The Minimum Required? – which forms part of the Resolution Foundation’s submission to the Taylor Review on modern employment practices – sets out a number of proposals to tackle endemic levels of low pay among the self-employed. Its new analysis claims that that while around in one in five employees are low-paid (earning less than two-thirds of typical weekly earnings), last year around half of the full-time self-employed workforce (49 percent) fell below this threshold, earning less than £310 a week.

June 29, 2017

Self-employed would value receiving sick pay above other benefits ⁰

by Neil Franklin • Flexible working, News

UK micro-business owners and freelancers would be more interested in receiving sick pay than any other statutory benefit, according to new research carried out in collaboration between cloud accounting software firm FreeAgent and The Freelancer & Contractor Services Associatio n (FCSA). A poll of nearly 900 UK micro-business owners conducted by FreeAgent and FCSA claims that sick pay provision is the benefit that self-employed workers would most welcome, coming way ahead of other benefits such as maternity pay, job seekers allowance and pension auto-enrolment. The survey claims that 76 percent of respondents currently do not have any method of providing sick pay, maternity/paternity leave, holiday or redundancy pay in their business. Projected across the country’s 5.2 million-strong micro-business sector, this potentially equates to millions of people working without the same kind of basic entitlements that employed workers have. Notably, people’s appetites for additional benefits varied depending on the structure of their business with sole traders more likely to value benefits (rating sickness provision 8.7 out of 10) compared to those working through their own limited companies who gave a score of 6.4 out of 10 for sickness provision.

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’.

May 31, 2017

Pressure group calls on incoming UK government to create a new contract with the self employed ⁰

by Neil Franklin • News

IPSE, the association set up to represent the needs of the UK’s self employed and freelance workforce, has released a manifesto ahead of the general election. In A Contract with the Self-Employed, IPSE details all the policies it wants to see the incoming government implement for the 4.8 million people currently defined as self employed or freelance. In conjunction with the ongoing Taylor Review into modern employment practices, the manifesto calls for a statutory definition of self-employment to end widespread confusion and ensure self employment remains an attractive and attainable career choice. The manifesto calls for a strategic review of the tax system – which, in its current state, is based upon the traditional employer/employee model. As self-employment continues to boom, the government needs to supplement this 21st century way of working with a fairer, more efficient, 21st century tax system. Included in the review, it has asked the government to make careful considerations before rolling out IR35 measures in the private sector, create a bespoke tax system for freelancers, simplify Making Tax Digital and maintain the current rate of NICs.

January 27, 2017

Flexible hours is main reason self-employed are happier than traditional workers ⁰

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

Flexible working hours and being their own boss makes the UK’s self-employed much happier than those in traditional employment a new survey claims. According to the latest set of findings from the ‘Definitive Study of the Self-Employed,’ commissioned by Intuit QuickBooks, the self-employed generated mean annual revenues of £32,623 (£5,000 more than the average UK salary), despite working 10 hours less per week. Of those who have been a salaried worker, two thirds (66 percent) claim to be financially better off or the same and 65 percent also feel better off in terms of ‘life satisfaction’. When the research considered nuanced reasons for choosing to work for oneself ;control of schedule (77 percent), more flexibility to work to one’s own terms (68 percent) and liking being one’s own boss (65 percent) were leading reasons, with not worrying about workplace politics (47 percent) also regularly referenced.

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..

July 6, 2024

Incoming government sets out its plans for changes to employment law

by Marvin Gort • News, Workplace

One of the Labour Party’s key pledges during the election was to initiate a large-scale reform of UK employment law within the first 100 days of taking office. As a result, we can expect some changes relatively quickly, although it may take some time for many of them to become law. The proposed reforms are set out in their ‘Plan to Make Work Pay: Delivering a New Deal for Working People’ and highlight what UK employers can expect to see immediately and in the future. More →

June 12, 2024

Britain is no longer a nation of shopkeepers, but it is divided by the work we do

by Neil Franklin • News, Workplace

Following last week’s news that the fastest growing job category in the US isn’t necessarily the one you’d expect, a new report from HR software provider Ciphr, based on ONS data, claims to identify which jobs are the most disproportionately common in each part of the UK. The report analyses the latest regional employee estimates for over 370 occupations to find out which work roles (with at least 5,000 full-time employees) appear to be more concentrated, or over-represented, in some places more than others. More →

June 2, 2024

A brief history of the future of work

by Mark Eltringham • Features, Flexible working, Technology, Working culture

The past few years and our current predicaments should serves as a reminder of that tragic, unchangeable feature of the human condition, best expressed by Kierkegaard, that we are doomed to live our lives forwards but only understand them backwards. Retrospect is particularly important when we look back on sudden, large changes that knock us off our normal path. It’s important to remember this as we continue to grapple with the nature of the present and future of work in the wake of the pandemic. More →