January 4, 2019
CIPD highlights gap between ‘fat cat’ top earners and the rest of the workforce
Just three days into the New Year, today (Friday 4 January), the UK’s top bosses will have made more than a typical full-time worker will earn in the entire year, according to calculations from independent think tank the High Pay Centre and the CIPD. The average (median) full-time worker in the UK earns a gross annual salary of £29,574, while the average FTSE 100 CEO, on an average (median) pay packet of £3.9 million, only needs to work until 1pm on Friday 4 January 2019 to earn the same amount. The £3.9 million figure was calculated by the CIPD and the High Pay Centre in their 2018 analysis of top pay and it marks an 11% increase on the £3.5 million figure reported in their 2017 analysis. The pay increase means that FTSE 100 CEOs, working an average 12-hour day, will only need to work for 29 hours in 2019 to earn the average worker’s annual salary, two hours fewer than in 2018.
Fifty percent of UK employees feel their employers don’t understand them or their potential – higher than the European average of 46 percent according to a study of over 2,000 workers across the UK, France, Germany, Italy and the Netherlands from ADP. The research found that 40 percent of UK workers are unhappy with the quality of leadership, with only France reporting slightly higher figures, where 52 percent saying they feel misunderstood by their employer. This was followed closely by Italy (48 percent) and Germany (46 percent), while the Netherlands reported the most positive results with only a third stating such feelings (35 percent). However, UK and European employees are more likely to feel their direct reports understand them better, with 61 percent reporting that their managers know and support them, and want to see them succeed. This shows that those working more closely together enjoy better relationships, which in turn is likely to lead to better quality of work and greater productivity. The lesson for businesses is that close relations between all staff, regardless of seniority, matter.
Employers in the UK need to improve working conditions, as the UK’s workforce pride is trailing behind other European countries, a new report claims. The survey from Cornerstone OnDemand and IDC found just a 48 percent approval rating by UK workers, with just 52 percent of respondents “completely agreeing” that they are proud to work for their organisation – a steep drop compared to countries such as Italy (59 percent) and Norway (66 percent). While UK work satisfaction is falling behind the rest of Europe, it is however ranking higher for employer recommendations. Almost half (47 percent) of Brits “completely agree” that they would recommend their current employer to others, versus 43 percent in Sweden and 41 percent of respondents in the Benelux regions. When it comes to employer attractiveness, only 47 percent of UK respondents “completely agree” that their organisation is an attractive place to work, in comparison to 51 percent of Spanish respondents and 56 percent of Finnish respondents. So while the UK is ahead in some criteria, the findings suggest there’s work to be done if British employers want an improved result.
Improved living standards, deflating pension pots and legal protection against age discrimination have all helped to nudge up the retirement age. The result is that for the first time since the Industrial Revolution five generations of employees are now working side by side. According to a new survey, two thirds of organisations (66 per cent) say that an age diverse workforce helped the company to have a more comprehensive skillset and knowledge base and more than seven in ten (71 per cent) felt that a multi-generational workforce brought contrasting views to their organisation. However, in the YouGov survey of middle market businesses commissioned by RSM, four in ten companies (41 per cent) said that a multi-generational workforce also increased the risk of conflict in the workplace. 
A major global report has revealed a lack of confidence in data is limiting corporate success in the emerging era of robotics and automation. The global research launched by Qlik, has revealed an escalating skills gap preventing business decision-makers asking the right questions of data and machines. Despite 
