The economic cost of workplace discrimination to the UK Economy is £127 billion a year, claims new research.  Of the £127 billion, £123 billion is due to gender discrimination, £2.6 billion as a result of discrimination against ethnic minorities and £2 billion due to discrimination as a result of sexual orientation. These are the claims of a new report commissioned by INvolve, a membership organisation that champions holistic diversity and inclusion in the workplace, and Cebr, an economics consultancy which analysed over 500 workplaces uncovered a significant positive correlation between diversity and financial performance.

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A new research paper from the Institute for Employment Studies (IES) claims to identify areas where employers and policymakers should act to reinvigorate their pay and rewards practices to improve employee engagement and productivity. According to the IES, with the likely intensification of current recruitment shortages, skills gaps and the fall in living standards as the UK leaves the European Union, the paper argues that both employers and policymakers should act on three key areas – low pay, gender pay and total rewards – to help halt the relative decline of the UK’s already below-par productivity performance.

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Providing American seniors with better work incentives and opportunities will be crucial for the United States to meet the challenges of its rapidly ageing population. By 2028, more than one in five Americans will be aged 65 and over, up from fewer than one in six today, according to a new OECD report. Working Better with Age and Fighting Unequal Ageing in the United States finds that employment rates among older workers in the United States are above the average across OECD countries. In 2016, 62 percent of all 55-64 year olds were employed compared with the OECD average of 59 percent. However, employment rates are much lower among the ageing workforce. Early retirement is prevalent among workers from vulnerable socio-economic backgrounds, often occurring as soon as Social Security benefits become available at age 62. Poverty among seniors is a challenge: more than 20 percent of peopled aged 65 and over have incomes below the relative poverty line – defined as half of the median disposable household income – compared with the OECD average of less than 13 percent.

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Demand for labour is likely to remain relatively strong in the near-term which is one of the main reasons why employers support a national approach to tackling the UK’s skill and labour shortages post-Brexit, in comparison with a regional or sectoral one. According to the latest quarterly Labour Market Outlook from the CIPD and The Adecco Group the preference for a national labour or skills shortage occupation scheme reflects the main reason given by organisations for employing EU nationals, which is that they have difficulty finding local applicants to fill lower skilled roles, as cited by 18 percent of employers. The national survey of more than 2,000 employers found that the relative majority of employers (41 percent) would prefer a UK-wide immigration system that is based on national labour or skill shortage occupations in the likely event of migration restrictions once the UK leaves the European Union. In contrast, around one in ten (13 percent) favour a sector-based policy and just 5 percent would back a regional policy.

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