Search Results for: financial

Is retirement no longer an option for many people? This report thinks so

Is retirement no longer an option for many people? This report thinks so

More than two-thirds of UK adults believe that retirement in their 60s will soon be a thing of the pastMore than two-thirds of UK adults believe that retiring in their 60s will soon be a thing of the past, according to new research from Canada Life. The findings, released in the company’s inaugural Life100+ report [promotional content], claims to highlight shifting expectations as people prepare for longer lifespans, with retirement plans and financial security becoming major concerns. More →

Reactions to the UK’s new Employment Rights Bill

Reactions to the UK’s new Employment Rights Bill

Details of the UK's new Employment Rights Bill were released yesterday. The legislation represents what the government claims is a significant overhaul of workers' rights, offering more protections and benefits and helping to promote practices like flexible workingDetails of the UK’s new Employment Rights Bill were released yesterday. The legislation represents what the government claims is a significant overhaul of workers’ rights, offering more protections and benefits and helping to promote practices like flexible working. Key elements of the bill include granting workers access to statutory sick pay and parental leave from the first day of employment, and introducing a ban on exploitative zero-hour contracts. It also aims to curb controversial “fire and rehire” practices and gives employees the right to claim unfair dismissal from day one, rather than after two years of service. However, businesses will still be allowed to operate probationary periods to ensure fit for roles, with discussions suggesting a maximum of six months. More →

Finger on the pulse: Is biometrics the future of workplace wellbeing?

Finger on the pulse: Is biometrics the future of workplace wellbeing?

For architects and designers, the trend to use wearable devices to track wellbeing in the workplace is a giftAround a third of companies already use wearables to track their team’s activity and better gauge their physical, mental and emotional wellbeing, according to Deloitte’s 2024 Global Human Capital Trends Report. Deloitte predicts that usage will increase to two thirds by 2027. Neurotechnology, which uses electronics to read brain activity and can contextualise employee behaviour and interactions, is also anticipated to ramp up dramatically in use in that timeframe, from 3 percent to 31 percent. More →

Small businesses are aware of benefits of using AI, but don’t know where to start

Small businesses are aware of benefits of using AI, but don’t know where to start

According to a new poll from hiring platform Indeed, around a third of small businesses are scared to implement AI, despite acknowledging the many apparent benefits of doing soAccording to a new poll from hiring platform Indeed, around a third of small businesses are scared to implement AI, despite acknowledging the many apparent benefits of doing so.  According to Indeed’s survey of 1,000 business leaders at British small businesses, 41 percent of small firms want to integrate the technology into their business, but don’t know where to start. This paralysis means that small businesses – which make up  over 99 percent of the nation’s total businesses – are missing out on improvements to costs, efficiency and overall work satisfaction that they themselves say it can bring about, the report argues. More →

You get what you give at the CoreNet Global Summit 2024 in Berlin

You get what you give at the CoreNet Global Summit 2024 in Berlin

CoreNet truly embraced its theme of ‘People Power’, emphasising the vital but often overlooked aspect of workplace strategy: connectionHave you ever attended a conference and been asked to gaze deeply into a stranger’s eyes for several minutes, standing just a metre apart in silence? No? Neither have I – until this September at the CoreNet Global Summit in Berlin. Gone are the days of handshakes and small talk. Today, it’s all about relationality, empathy, and hugging it out. For some, the summit’s emphasis on fostering human connections was a joyful opportunity to bond and share meaningful moments with fellow professionals. For others, it felt like being trapped in a never-ending therapy session nobody signed up for. More →

UK see largest contraction in Labour Force since the 1980s

UK see largest contraction in Labour Force since the 1980s

The final report from the two-year Commission on the Future of Employment Support claims that the UK needs ‘once-in-a-generation reform’ to boost growth and improve living standards in the face of a huge contraction in the country’s labour force. The report suggests that the UK is one of the few developed nations where employment has fallen post-pandemic. The UK has dropped from having the eighth-highest employment rate globally to fifteenth. Had the original position been maintained, the economy would be £25 billion larger annually, with public finances £16 billion better off. More →

Firms are optimistic about AI, but most have little idea what to do with it

Firms are optimistic about AI, but most have little idea what to do with it

Despite high levels of optimism about their adoption of AI, two thirds of firms say they are not ready to implement AI in projects yetDespite high levels of optimism about their adoption of artificial intelligence, two thirds of firms say they are not ready to implement AI in projects yet, according to a new poll. The Riverbed Global AI & Digital Experience Survey suggests that while 94 percent of those surveyed say AI is a top C-Suite priority and 91 percent agree it provides a competitive advantage, only 37 percent are fully prepared to implement projects now,  However, 86 percent of leaders say they expect their organisation to be fully prepared to implement a strategy and projects by 2027.  More →

A new approach is needed to tackle ill health and economic inactivity, report argues

A new approach is needed to tackle ill health and economic inactivity, report argues

A ‘whole-of-government approach’ is needed to tackle the causes of ill health, increase economic activity and reduce NHS demandA ‘whole-of-government approach’ is needed to tackle the causes of ill health, increase economic activity and reduce NHS demand, a new report from the NHS Confederation and Boston Consulting Group claims. According to the report, “Improving our Nation’s Health: A Whole-of-Government Approach to Tackling the Causes of Long-Term Sickness and Economic Inactivity”, reintegrating between half and three-quarters of people who have dropped out of the workforce for reasons of ill health since 2020 could deliver an estimated £109-177 billion boost to the UK’s GDP (2-3 per cent in 2029) and unlock £35-57 billion in fiscal revenue over the next five years. More →

Shared Parental Leave (still) failing to deliver for working dads

Shared Parental Leave (still) failing to deliver for working dads

New research suggests that Shared Parental Leave (SPL) has failed to encourage greater take-up or longer leave by fathers, prompting calls for policy reformNew research suggests that Shared Parental Leave (SPL) has failed to encourage greater take-up or longer leave by fathers, prompting calls for policy reform. Introduced in April 2015, SPL was designed to let parents share the load of looking after their children, giving fathers a greater role at home and encouraging mothers to get back to work sooner. But new research by economists from the Economics Department and Institute for Policy Research (IPR) at the University of Bath and Cardiff University shows that the policy has fallen flat. Workplace Insight has been tracking the bumpy passage of the legislation over the past nine years. You can see our coverage here. More →

Millions of parents face work struggles due to children’s mental health challenges

Millions of parents face work struggles due to children’s mental health challenges

Millions of parents across the UK are finding it increasingly difficult to balance work responsibilities with the demands of caring for children who suffer from mental health issuesMillions of parents across the UK are finding it increasingly difficult to balance work responsibilities with the demands of caring for children who suffer from mental health issues, according to a new poll. In the UK, approximately 2.5 million children are grappling with mental health issues, a statistic that has significant repercussions for their families. The study of 652 parents commissioned by the charity Parenting Mental Health offers a detailed look into how these challenges affect the lives of parents. More →

Vast majority people on zero hours contracts don’t want to be on zero hours contracts

Vast majority people on zero hours contracts don’t want to be on zero hours contracts

A new poll makes the perhaps obvious point that a significant majority of workers on zero-hours contracts prefer stable, regular working hours.A new poll makes the perhaps obvious point that a significant majority of workers on zero-hours contracts prefer stable, regular working hours. Commissioned by the TUC, the survey found that 84 percent of zero-hours contract workers would prefer consistent work schedules, while only 14 percent are content with their current arrangements. The poll also highlighted the financial difficulties faced by these workers due to underemployment. Seventy-five percent reported not receiving enough hours to cover their living expenses. Despite this, more than half (58 percent) of requests for additional hours were turned down by employers. More →

The best leaders invite people to challenge them … and don’t punish them when they do

The best leaders invite people to challenge them … and don’t punish them when they do

Leaders should foster a culture of positive, constructive challenge, which can help mitigate risks and improve decision makingLeaders should foster a culture of positive, constructive challenge, which can help mitigate risks and improve decision making, according to experts at Imperial College Business School. In a new white paper, researchers from Imperial’s Centre for Responsible Leadership analysed the strategies that leaders can implement to successfully elicit challenge from their teams. The paper contains key lessons and evidence-based recommendations for leaders to encourage challenge, that can be applied to a wide range of organisations. More →