Search Results for: business

April 3, 2019

Procurement fraud rampant in UK businesses

Procurement fraud is widespread in the UK and the country lags behind many countries in its detection capabilities, new research from SAS claims. British companies, on average, lose significantly more money to procurement fraud, and the country is far more reliant on ineffective manual detection techniques than other nations.Procurement fraud occurs when employees and suppliers behave fraudulently during the contract bidding process or over the course of the contract. This can range from employees colluding with their preferred vendor to give unfair advantage during procurement, to suppliers submitting multiple invoices for a single item. While procurement fraud is a serious crime that carries a jail sentence in many countries, perpetrators are often willing to take the risk for personal revenge or financial gain. (more…)

March 26, 2019

Majority of UK business leaders believe costs and red tape will rise after Brexit

by Sara Bean • Facilities management, News, Workplace

Over half (58 percent) of UK business leaders expect costs to rise after Brexit, even if a deal is struck and just over a third (38 percent) believe that access to local business funding and grants will also become more challenging post-Brexit, claims a new survey from Vistage. Respondents were also sceptical about the so-called ‘bonfire of red-tape’ which was a key part of the Leave campaign’s manifesto. Thirty-eight per cent believe bureaucracy will become more of a hurdle post-Brexit, versus just 17 percent who believe a deal with the EU will lead to fewer regulations and less red-tape.

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March 21, 2019

Digital workplace pioneered by medium sized businesses, study claims

by Neil Franklin • News, Technology

Medium-sized businesses now account for over 60 percent of US jobs, and are investing fast in technology. However, with digital now a priority for businesses of all sizes, they must ensure they have the necessary skills and security management in place to handle the change, or risk falling behind competitors according to a new report from Aruba. (more…)

March 14, 2019

Mobile working is a recipe for business success

by Sally Elliott • Comment, Technology, Workplace design

Today, the Fourth Industrial Revolution is changing the face of work as we know it: introducing AI and automation to the workplace and creating a drastic shift in the skills required by organisations today. As automation increasingly frees employees up from the repetitive, process work that can so often dominate their day-to-day, organisations are instead looking to employees to showcase their critical thinking and creativity. Indeed, McKinsey’s Skill Shift confirms that by 2030 the demand for higher cognitive skills, such as creativity, critical thinking and decision making will grow by 14 percent in Europe.

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March 14, 2019

Neither bosses nor staff feel confident about future UK business environment

by Sara Bean • AI, News, Technology, Workplace

Two new reports published this week, show a lack of confidence amongst employers and employees within the UK business environment. The latest data in Gartner’s Global Talent Monitor report shows employee confidence in near-term business conditions and long-term economic prospects reaching an index score of 55.6 for the last quarter of 2018, a decline of 7.5 percent from an index score of 60.09 in 3Q18. These results follow a worldwide trend that has seen global business confidence sink to its lowest point since the fourth quarter of 2017. Meanwhile a survey of business leaders in the UK by management consultancy Lane4 found that bosses do not feel prepared to lead through future challenges like artificial intelligence and political volatility. (more…)

March 12, 2019

UK jobs boom set to end as finance and business sectors lose confidence

by Sara Bean • Cities, Facilities management, News, Workplace

The boom in the UK jobs market is coming to an end just as the Brexit countdown reaches its final stages. According to the latest ManpowerGroup Employment Outlook Survey, the national Outlook for the second quarter of 2019 has fallen to +4 percent, on a par with the weakest levels of confidence seen in recent years. More worryingly, the negative Outlook in the Business and Financial services sector – which employs nearly a fifth of all UK workers – suggests jobs are set to be lost in Britain’s most important sector. The report found that the Finance and Business Services sector has fallen five points to -1 percent, only the second time in the last decade it has been in negative territory.

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March 8, 2019

On International Woman’s Day – why advancing women is still not a business priority

by Sara Bean • Comment, Legal news, News, Workplace

It has probably not escaped your notice that today is International Woman’s Day, which for Workplace Insight means a plethora of studies on the topic of women/jobs/salaries and ways women might work differently to men. We’ve decided not to waste anyone’s time and ignored most of them (particularly the patronizing ones on how ladies are so intuitive) but managed to find a few kernels of information. First, the good news that women have doubled their share of top jobs at technology companies, pulling in higher salaries than men last year, according to executive search firm Odgers Berndtson. (more…)

March 1, 2019

Businesses pledge to work towards mandatory ethnicity pay gap reporting

by Sara Bean • Legal news, News, Workplace

The government is being encouraged to implement mandatory ethnicity pay gap reporting when it announces the outcome of its ‘Ethnicity pay reporting’ consultation, which closed in January. Pre-empting that, fifteen companies have signed a commitment today to work towards mandatory ethnicity pay gap reporting. Signatories include the Bank of England, Deloitte, KPMG, WPP, Santander and EY. The commitment, driven by membership organisation INvolve, aims to get more businesses voluntarily reporting on their ethnicity pay gap. In 2018 The Resolution Foundation estimated the ethnicity pay gap at £3.2bn. A report from INvolve also showed that white people earn on average between £67 and £209 more per week compared to similarly qualified individuals of a different ethnic background, and that the most ethnically diverse workplaces are 35 percentage points more likely to financially outperform industry averages.

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February 27, 2019

Businesses leaving themselves vulnerable to a failing of business continuity

by Sara Bean • Environment, Facilities management, News, Workplace

By failing to properly explore what service provision is offered in the event of a serious incident such as flood or fire, businesses are leaving themselves vulnerable to a failing of business continuity, a new survey from Regus suggests. The survey found that 40 percent of businesses rely solely on what their workplace recovery provider tells them, or what is in their contract to protect them from a crisis. The lack of testing of recovery facilities by businesses also leaves them open to further disruption, with businesses at risk of finding that, in reality, the location they have been allocated is too small, with seats only available on a first-come-first-served basis, leaving business-critical staff unable to work.

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February 20, 2019

Work life balance remains greatest challenge for owners of growing businesses

by Neil Franklin • News, Wellbeing

A new survey from Vistage claims that work-life balance is the biggest challenge facing what it refers to as scaleup business leaders in the UK. Defined as a business with an average annualised return of at least 20 percent in the last three years – and with a minimum of 10 employees at the start of the period – scaleup businesses are seen as key to the success of the UK government’s Industrial Strategy. Of the 2,800 respondents who took part in the poll, Vistage found a whopping 46 percent believe juggling a healthy home life with the demands of work is the biggest challenge owners of fast-growing businesses face. Access to talent came in a distant second with 22 percent of the vote, while sustaining momentum ranked third.

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February 13, 2019

Stark levels of stress among small business owners as they struggle to stay solvent

by Sara Bean • News, Wellbeing

Chronic work-related stress has risen sharply among small business owners, with a fifth of small business owners look to taking a job elsewhere to stay afloat this year. This is according to new research from AXA, which reveals that many are adopting short-term planning and cutting reliance on external funding ahead of Brexit. Staying agile and light is a common strategy, but may not give businesses the best chance of survival if financial cushions are not in place too. The study finds a sharp increase in financial anxiety amongst business owners. Over the course of 2018, those reporting they felt chronically stressed about their businesses increased by almost 50 percent, reaching 29 percent by year end. (more…)

February 6, 2019

Majority of businesses fail to see a return on their technology investments

by Neil Franklin • News, Technology

According to a new report from Accenture, the majority of businesses don’t see a return on their technology investments and just 14 percent of businesses manage to realise the full potential of their tech investments. Roughly $3.2 trillion was spent on new technology in the last five years. Businesses that were most successful with their investments were the ones investing in bold moves, rather than incremental shifts.