Search Results for: Gen Z

June 28, 2017

Artificial intelligence could add £232 billion to UK GDP by 2030, claims PwC research ⁰

UK GDP could be around 10 percent higher in 2030 as a result of artificial intelligence (AI) – the equivalent of an additional £232 billion, according to new research by PwC. This makes AI the biggest commercial opportunity in today’s fast-changing economy, according to the report’s authors. The research shows that the majority of the UK’s economic gains over the period to 2030 will come from increasing consumer demand resulting from AI driving a greater choice of products, increased personalisation of those products and making them more affordable over time. Labour productivity improvements will also drive GDP gains, but to a lesser extent. PwC’s research notes that the benefits from labour productivity growth will be felt first, with the increased consumption-led benefits from AI-enhanced products coming through later as more of them come onto the market. As this happens, competition within the AI goods market will increase dramatically, leading to future increases in the value of goods to consumers and therefore the amount people spend on them.

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June 12, 2017

We need to design for a multigenerational workforce ⁰

by Joe Huddleston • Comment, Workplace design

Excitingly, the workforce is becoming increasingly diverse. However there’s more talk about millennials in the workplace than anyone else. In stark contrast to popular belief, the reality is that the British workforce is getting older on average which means that office design must now consider a new set of workplace requirements. The challenge for designers is to create inclusive environments that address the needs of highly skilled and experienced older workers, while still providing productive environments for all users, ensuring the entire multigenerational workforce is engaged, happy and productive. International bodies are already worried about the fiscal impact of an older workforce, in May the World Economic Forum (WEF) said that a looming fourfold rise in over-65s by 2050 is the financial equivalent of climate change. With people born today having a life expectancy of more than 100, WEF warned of more years in the office to provide financial security in later years, as well as a creeping retirement age heading towards 70. This ageing population and workforce will certainly need consideration when it comes to supporting their health and wellbeing.

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June 12, 2017

What will the UK General Election mean for the workplace? Some experts respond ⁰

by Mark Eltringham • Architecture, Comment, Flexible working, Property, Workplace, Workplace design

Any residual feelings of certainty that anybody in the UK may have had about the country’s future following last year’s Brexit vote, will have had them pretty much eradicated by last Thursday’s General Election result. However, we must try to make sense of things for society and the wider economy as well as specific facets of it, such as the world of work. The whole thing looks like the pig’s ear that it is, of course. Fortunately, as some experts have already argued, there are some reasons to see some positive outcomes, including a soft (or softer) Brexit and the chance of a more positive approach to workplace rights, now that the Government needs to maintain a broader consensus. The fear or hope that the UK would lighten its already soft touch approach to workplace legislation would seem at least to be less well founded.

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June 8, 2017

Long term problems predicted for EU businesses if gender pay gap persists ⁰

by Sara Bean • Legal news, News, Workplace

As we reported earlier this week, more needs to be done to ensure that female representation in the boardroom increases; and now a new report paints a negative future for European businesses if the pay gap isn’t adequately addressed. Mercer has warned that a failure to address the EU’s substantial gender pension gap (40 percent), could cause long-term problems for businesses and governments alike; as through its analysis, the consultancy has found that the pension gap varies widely from one member state to another, however half have gaps of 30 percent or more. In its white paper The Gender Pension Gap – From Awareness to Action Mercer outlines the key drivers behind the pension gender gap, how it will impact companies and how they can start to address it within their workforce. Women continue to be significantly under-represented at all levels of the work force; in the EU their participation rate is 10 percent lower than men. The European Commission’s recent proposal for a directive on work-life balance for parents and carers, including the introduction of carers’ leave for dependent relatives, aims at addressing this under-representation.

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May 17, 2017

Automation starting to generate productivity gains, but no major job losses yet ⁰

by Neil Franklin • News, Technology, Workplace

Business process automation is enabling companies to realise significant productivity gains in such areas as finance, accounting and HR, but it is not yet leading to broad job losses, according to a new study from tech research firm Information Services Group (ISG). Beyond automation’s impact on enterprises, the first ISG Automation Index report also claims that IT service providers are extensively introducing automation into their offerings, leading to dramatic improvements in productivity and service levels. This accelerated pace of change is prompting the vast majority of IT and business leaders to say that IT will be the business function most impacted by automation in the next two years.

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May 11, 2017

CIPD calls for range of measures for British workforce ahead of General Election ⁰

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

The next Government needs to put ‘good work’ at the heart of its thinking in order to improve the economy, boost individual welfare and prosperity – creating the conditions for good work in organisations across the country, says the CIPD ahead of the General Election. In its ‘Manifesto for Work’ the CIPD is calling for publication of pay ratios, additional rights for zero-hours workers and increased investment in adult skills. The manifesto’s package of aim to address the systemic problems in the UK economy by focusing on the positive influence the world of work can have on productivity and wellbeing. As well as an overhaul of the UK Corporate Governance Code, the CIPD is also calling on the next Government to protect and raise awareness of employment rights, make skills the centerpiece of their industrial strategy and take steps to improve gender diversity in the boardroom. It also calls for organisations to focus more on greater organisational transparency so that businesses are more accountable for incorporating the principles of good work across their organisations.

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May 8, 2017

Just five out of 9,000 UK employers have published gender pay gap details so far ⁰

by Mark Eltringham • News, Workplace

Only five out of the 9,000 eligible companies have so far reported details of their gender pay differentials on the website set up as a plank of the Government’s discourse on equality. Although the Government has confirmed that the policy does not reflect pay for comparable jobs, but wider issues, there has always been a degree of scepticism within the business community about the need for reporting. The rules oblige all private and public sector organisations with more than 250 employees to publish annual figures for both their mean and median gender income levels based on gender. They must also publish the number of men and women in each salary quartile. Reporting must be completed by April of next year, but there hasn’t been a rush to comply since the rules came into force on April 6.

May 3, 2017

Gender differences in global corporate culture begin earlier than supposed ⁰

by Sara Bean • Legal news, News, Workplace

While the last 50 years have seen a notable convergence between men and women in labour force participation, hours worked, wages, and educational level, despite all this progress women are still less often found in high-paying occupations. Now a new study by Finnish economist Antti Kauhanen of the Research Institute of the Finnish Economy suggests that a substantial gender wage gap in corporate cultures emerges in early careers. In the latest IZA World of Labor report, Kauhanen cites a number of recent studies which conclude that women are much more likely than men to begin their careers at the bottom levels in the hierarchy; and this difference in initial job assignments is partly due to a divergence in educational background. Although the gender differences in years of education are small, differences in the field of education chosen remain large and are affecting career outcomes. Furthermore, in addition to educational choices and career interruptions, the hours worked, discrimination, and preferences and psychological attributes also contribute to the gender wage gap.

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April 20, 2017

Number of data scientist jobs soars as Big Data moves up the corporate agenda ⁰

by Neil Franklin • News, Technology

Advances in tech have boosted Data Scientist roles by 57 percent globally in one year, according to a Big Data Analytics and Business Intelligence Observatory run by Politecnico di Milano School of Management. Advances in big data analytics are encouraging increasing numbers of industries – including banking, media and big pharma – to maximise this tool by employing more data scientists. The research, which surveyed 280 international data scientists, revealed the 57 percent annual increase in positions allocated, as well as role availability in nearly a third of companies. The research suggests that international businesses will increasingly be looking to integrate Data Scientist roles into their hiring strategies.

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April 20, 2017

UK government property agency opens bidding for huge estates framework ⁰

by Mark Eltringham • News, Property, Public Sector

The UK government has opened the tendering process the Estates Professional Services framework, the vast public sector property contract that covers all central and local government property and which reports claim is worth up to £430m in fees to the firms appointed. The bid is managed by the Crown Commercial Service, an agency sponsored by the Cabinet Office which has been driving the major overhaul of public sector property as it seeks to save £8 billion through a programme of rationalisation and divestment. The contract runs for four years with the present framework due to expire this September.

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April 14, 2017

Gender pay gap legislation may be aiming at the wrong target, claims report ⁰

by Mark Eltringham • News, Workplace

Britain’s new gender pay gap legislation is addressing the wrong issue and so will fail to do what it sets out to do, according to a new report from executive search firm Korn Ferry Hay Group. The firm claims that its analysis of over 570,000 people on its UK database shows that the gender pay gap is “virtually non-existent” when men and women do the same job at the same level in the UK, but that the differences become pronounced in senior and executive arenas. The study backs up data from the Office for National Statistics which recently began publishing details of pay differentials by age and sex and the results are eye opening. The most startling finding was that women in their 20s and early 30s earn slightly more than men of the same age and in the same job. However, as people get older, the pay gap goes into reverse, with men marginally out earning women at the age of 35, with the pay gap then widening rapidly into early middle age. As we reported earlier this week, the major issues arise both at a senior level of organisations and when women start families and begin paying a ‘motherhood penalty’ in terms of their pay and careers.

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April 12, 2017

Research shows how the gender pay gap can be directly related to motherhood ⁰

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

A new piece of academic research provides more evidence that the underlying reason for the gender pay gap is the discrepancy between the way women with children are treated compared to men, and other women without children. According to new research from Université Paris-Saclay, mothers are paid 3 percent less for every child they have compared to their female colleagues who do not have children, while fathers suffer no such penalty at all. The figures were compiled from a 16-year study of data from organisations in the French private sector between 1995 and 2011 by Lionel Wilner, Director of Graduate Studies at engineering and statistics school ENSAE, a founding member of Université Paris-Saclay. He separated the effect of childbirth from other firm-specific wage determinants, and accounted for full-time and part-time work, to find that the difference between mothers and non-mothers is approximated a 3 percent lower hourly wage. The effect was found to be more pronounced after the birth of the first child. (more…)