Search Results for: Gen Z

Rise in gender and ethnic diversity to boards in finance sector, despite ‘closed shop’

Rise in gender and ethnic diversity to boards in finance sector, despite ‘closed shop’

by • Legal news, News, Workplace

Rise in gender and ethnic diversity to boards in finance sector but more neededBanking and finance companies within the FTSE 100 have increased gender and ethnic diversity at board level, but there remains a question over whether minorities can break through the glass ceiling, as many of the top roles in banking and finance companies (Chair, CEO & CFO) remain a closed shop for ethnic minority and female leaders. This is according to a new study from Green Park which claims the leadership pipeline, supplying the highest tier of management in FTSE 100 banking and finance companies, now features the highest level of ethnic minority talent in four years, including 15 percent of professionals with a non-white background compared with 5 percent of leadership pipelines for FTSE 100 companies overall and 6.5 percent in 2014. The banking and finance sector has also met the target set by Lord Davies that 25 percent of board members should be female. However, this has been updated by the Hampton-Alexander Review to a target of 33 percent by 2020, which suggests that banking and finance companies will still need to do more to increase the proportion of female leaders in their leadership pipelines.

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Gender, race, age and sex bias still pervades UK working life

Gender, race, age and sex bias still pervades UK working life

by • Legal news, News, Wellbeing, Workplace

Gender, race, age and sex bias still pervades UK working life

One in four (27 percent) women have been victims of sexism in the workplace and ageism, racism and homophobia continue to mar the working lives of minority groups claims new research. With high-profile reports of sexual harassment and assault in the entertainment industry dominating headlines, the Office Culture report, from Opinium Research, examined gender, race, age and sex biases that pervade modern UK working life and found that over 2.5 million women (20 percent) report being a victim of sexual harassment in the workplace, yet two thirds (67 percent) of women who have experienced this have not reported it to their company. Similarly, despite a perceived cultural improvement in race relations, only half (55 percent) of those subjected to racial discrimination have reported such incidents to somebody in their company. However, ageism is the least reported of all with almost three-quarters (72 percent) of incidents going unnoticed; of those that did report ageism, a quarter (25 percent) of cases were not acknowledged. Action taken on incidents of homophobia were also low; with over a third (43 percent) of cases not being dealt with after the acknowledgement.

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Harnessing artificial intelligence could release up to £630bn for the UK economy, new government report claims

Harnessing artificial intelligence could release up to £630bn for the UK economy, new government report claims

by • News, Technology

Artificial Intelligence has the potential to add £630 billion to the UK economy by 2035, according to an independent review commissioned by the government as part of its Industrial Strategy. The review, Growing the Artificial Intelligence Industry in the UK, led by Jerome Pesenti, chief executive of BenevolentTech and Dame Wendy Hall, Professor of Computer Science at the University of Southampton, says AI is expected to make “great improvements” for the public, including more personalised services, better healthcare and more efficient use of resources. Robots could be used to perform a raft of benign and “dangerous” jobs  including smarter scheduling of medical operations and hiring on-demand self-driving cars. The report makes 18 key recommendations for developing AI in the UK and was led by Professor Dame Wendy Hall, a professor of computer science at the University of Southampton.

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Progress on gender equality at work moving at a snail’s pace, report claims

Progress on gender equality at work moving at a snail’s pace, report claims

by • News, Workplace

The UK’s gender equality at work has barely budged in ten years, a new report claims. The Gender Equality Index 2017, which has been published by the European Institute for Gender Equality (EIGE), also claims that gender equality across the EU improved little between 2005 and 2015. The index measures gender equality at work using several factors, including the proportion of women in full-time employment, the availability of flexible-working arrangements and career prospects. According to the report, the EU’s score is just four points higher than ten years ago, now 66.2 out of 100. The top performing country is Sweden with a score of 82.6, while Greece moved to the bottom with 50 points. The award for the most improved country goes to Italy, which made a big leap and gained 12.9 points to place itself at rank 14 on the ladder.

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Flexible working take up amongst both genders is undermined by negative employer attitudes

Flexible working take up amongst both genders is undermined by negative employer attitudes

by • Flexible working, Legal news, News, Workplace

Flexible working take up amongst both genders is undermined by negative employer attitudesThe majority (83 percent) of workers view flexible working as an important benefit to them but two thirds (66 percent) believe that taking up flexible working halts progression at work. One of the reasons for this dichotomy suggests the results of the Hays UK Gender Diversity Report 2017, is because nearly a third (32 percent) of employees believe men will be viewed as less committed to their career if they take up shared parental leave, and women are less likely to be promoted after having children. While a majority (84 percent) of workers say it’s important that flexible working options are available to them in their workplace, many choose not to take any, and two-thirds think doing so will have a negative impact on their career. Women perceive it will have a negative impact, with over three-quarters (76 percent) reporting this concern and 65 percent of men. Interestingly, both men and women think flexible working options have helped improve the gender balance in senior roles, with 61 percent saying flexible working has improved the representation of women in senior positions, indicating that employers need to address and overturn the negative perception of flexible working and communicate its benefits.

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Convergence of work and life defines September London workplace design shows

Convergence of work and life defines September London workplace design shows

by • Comment, Events, Flexible working, Furniture, Workplace design

It has always been a characteristic of the 100% Design exhibition that it has segmented along the demarcations of workplace, home, interiors, kitchens and bedrooms. This used to make perfect sense as the same distinctions existed in our lives, reflected in the form and function of the products we allocated to those spaces. This is no longer the case to anywhere like the same extent and consequently, the workplace section of the show is full of products that could make the crossover into a domestic, cafe or hotel setting with not an eyebrow raised. That is not to say that the mainstay products of the workplace – desks, task chairs, storage, screens – are no more. They are still specified in vast numbers. It is just that the interesting aspects of workplace design are to be found in its shared and public spaces. It is here where we witness the convergence that characterises modern working life. We might still talk about work life balance (too much) but there is a growing realisation that the distinction grows more meaningless with each passing year.

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British organisations must step up to the challenges of artificial intelligence, robotics and automation

by • AI, News, Technology

A report published by the RSA think-tank has encouraged UK businesses to embrace artificial intelligence, automation and robotics. arguing that new technology has the potential to raise productivity levels, boost flagging living standards, and phase out ‘dull, dirty and dangerous’ tasks in favour of more purposeful and human-centric work. The Age of Automation report warns, however, that the UK is fast becoming a ‘laggard’ in the adoption of new machines and called on UK business leaders to accelerate their take-up of technology. The RSA found that sales of robots to the UK decreased over 2014-15, with British firms falling behind the US, France, Germany, Spain and Italy. A YouGov poll of UK business leaders, commissioned by the RSA, found that UK business leaders are currently wary of adopting AI and robotics, with just fourteen percent of firms currently investing in this technology or soon planning to. Twenty-nine percent of businesses believe AI & robotics to be too expensive or not yet proven and twenty percent want to invest but believe it will take several years to ‘seriously adopt’ the new technology.

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Banking sector will be ground zero for job losses from artificial intelligence and robotics

by • AI, Comment, Technology

Deutsche Bank CEO John Cryan has predicted a bonfire of industry jobs as automation takes hold across the finance sector. Every signal is that he will be proved right very soon. Those roles in finance where the knowledge required is systematic will soon disappear. And it will happen irrespective of how high a level, how highly trained or how experienced the human equivalent may currently be. Regular and repetitive tasks at all levels of an organisation already do not need to be done by humans. The more a job is solely or largely composed of these routines the higher the risk of being replaced by computing power. The warning signs have been out there for a number of years as enthusiastic reports about artificial intelligence have been tempered with fears about significant job losses in most sectors of the economy. Many roles have already all but disappeared in the march towards a fully digital economy. Older readers may recall typesetters, typists, and increasingly, switchboard operators and back room postal workers, as work of the last century. And the changing nature of work is relentless.

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Smaller businesses are more willing to grasp the nettle of artificial intelligence

by • News, Technology

Research from Adecco UK&I, claims that smaller businesses are more positive about new technologies such as artificial intelligence when compared to larger companies. The Humans vs Robots report (registration required if you really feel like it) based on responses from 1,000 senior managers and 1,000 workers in 13 sectors across the UK, finds that larger companies (employing more than 5,000 employees) are almost twice as sceptical about the business impact that AI will have compared to smaller companies (employing 250 or less employees), with 9 percent of the former believing its impact won’t be significant, compared to just 5 percent of the latter.

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Urgent action needed to boost small business workplace productivity says CIPD

by • News, Workplace

The CIPD is calling on Government to invest £13m a year to provide HR support to small businesses, as new research shows that it could be a key part of efforts to resolve the UK’s workplace productivity puzzle. The call is based on the evaluation of year-long People Skills pilots providing HR support for SMEs in Hackney, Stoke-on-Trent and Glasgow. People Skills was developed by the CIPD, with support from the JPMorgan Chase Foundation. It provided up to two days’ worth of free HR support to small firms, including face-to-face advice, a telephone helpline, online information and templates, as well as group training events.

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High expectations mask large gap between understanding of artificial intelligence and its implementation

High expectations mask large gap between understanding of artificial intelligence and its implementation

by • AI, News, Technology

New research published by the Boston Consulting Group and MIT Sloan Management Review suggests that there remains a wide gap between the understanding and adoption of artificial intelligence (AI) at most companies. The global study of over 3,000 firms and industry experts claims that almost 85 percent of executives believe AI will allow their companies to obtain or sustain a competitive advantage. However, only about one in five companies has incorporated AI in some offerings or processes. The new report claims to identify the key characteristics of AI leaders and offers companies a starting point for developing an AI strategy.

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Third of firms concerned unexplained gender pay figures could damage their reputation

Third of firms concerned unexplained gender pay figures could damage their reputation

by • Legal news, News, Workplace

Third of companies concerned about impact gender pay report will have on reputation

While a third of companies have already completed their gender pay gap reports, many remain reluctant to publish the figures; and a majority (70 percent) want to include an explanatory narrative to help support their findings. According to the new survey by Mercer, although perceptions of the regulations have improved since being made final, companies find the regulations complex (41 percent), confusing (29 percent) and misleading (28 percent). The result is, while a third of companies completed their analysis at the end of May, most (44 percent) plan on leaving it to later in the year (Oct 2017-Jan 2018) to report; and 28 percent don’t know when they will report. When looking for root causes of the pay gaps, 54 percent of respondents have conducted some sort of analysis (e.g. equal pay audits and bonus programme analysis) in the last three years. Looking ahead there is a dramatic change in the attention being given by organisations to actions beyond pay, and some leading organisations are addressing this issue already.

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