Search Results for: business

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.

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February 4, 2019

Businesses need to build far more employee trust in their use of workforce data

by Mark Eltringham • News, Technology, Workplace

Business leaders need to improve the way they implement and communicate responsible workforce data strategies if they are to build the employee trust that will help generate sustained revenue growth, according to a new report from Accenture. The report, Decoding Organizational DNA, is based on qualitative and quantitative research, including global surveys of 1,400 C-level executives and 10,000 workers across 13 industries.

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January 31, 2019

Forty percent of UK businesses have experienced cyber security breach in past year

by Sara Bean • AI, Facilities management, News, Technology

Forty percent of UK businesses have experienced cyber security breach in past year Well over a third (40 percent) of UK businesses have experienced a cyber security breach or attack in the last 12 months, according to new government figures as it announces the UK is set to become a world leader in the race to eradicate some of the most damaging cyber security threats. The Business Secretary Greg Clark has promised that increased security and protections will be built into digital devices and online services with the help of up to £70 million in government investment through the Industrial Strategy Challenge Fund and backed by further investment from industry.

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January 22, 2019

Business leaders lack ethical insight needed to get the best out of AI

by Neil Franklin • News, Technology

Although executives have high expectations for the impact that AI will have on their businesses according to Cognizant’s new report, ‘Making AI Responsible – and Effective, only half of companies have policies and procedures in place to identify and address the ethical considerations of its applications and implementations. The study analyses the responses of almost 1,000 executives across the financial services, technology, healthcare, retail, manufacturing, insurance and media & entertainment industries in Europe and the US. The research suggests that business leaders are positive about the importance and potential benefits of AI. Roughly two- thirds (63 percent) say that AI is extremely or very important to their companies today, and 84 percent expect this will be the case three years from now. Lower costs, increased revenues and the ability to introduce new products or services, or to diversify were cited as the key advantages for the future.

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January 21, 2019

MPs back plan to increase gender diversity in business

by Sara Bean • Legal news, News, Workplace

A majority of MPs have backed a recommendation to increase gender diversity in business by extending the “Women in Finance Charter” to cover all businesses in the UK. The recommendation comes from the professional accountancy body AAT (Association of Accounting Technicians). The Charter asks financial services firms to commit to implement four key industry actions; to have a named senior executive responsible and accountable for gender diversity and inclusion; set internal targets for gender diversity in senior management positions; publish progress annually and ensure the pay of the senior executive team is linked to delivery against these internal targets on gender diversity. (more…)