Search Results for: economic

People in the West continue to express ambivalence about the metaverse

People in the West continue to express ambivalence about the metaverse

An illustration of a suited man using a headset to access the metaverseA new poll from law firm Gowling WLG claims to reveal a stark difference in attitudes in Western and Eastern nations when it comes to the metaverse. It claims that the technology is set to change how we work and socialise forever, and that early adopters like China and the United Arab Emirates are already reaping the economic benefits. The firm’s Immaterial World report compared attitudes towards the metaverse in six international markets. The research found that four-in-five (83 percent) Chinese consumers would consider taking part in virtual experiences, more than twice as many as in the UK (37 percent). (more…)

Growing numbers of young people feel alienated by jobs market

Growing numbers of young people feel alienated by jobs market

New research from City & Guilds suggests that the odds are being stacked against young people’s futures and career aspirations – particularly the most disadvantaged. Following a trend of chronically high youth unemployment, the poll of 5,000 18-24-year-olds living in the UK claims that 13 percent are currently unemployed (not in work or studying) and a further 3 percent are economically inactive – equating to approximately 859,000 young adults out of work and education across the UK. (more…)

Digital transformation projects rarely meet aims and expectations

Digital transformation projects rarely meet aims and expectations

A graphic of a man's head to illustrate the nature of digital transformation for workersNew research published by Boston Consulting Group (BCG) claims that while 94 percent of companies have big aspirations to deliver substantial and rapid impact from digital transformation, and companies plan to increase investment in digital transformation in spite of global economic headwinds, the majority of these projects fail to achieve their objectives. (more…)

Always connected in the age of disconnection

Always connected in the age of disconnection

All of humanity’s problems,” the French scientist and philosopher Blaise Pascal wrote in 1654, “stem from man’s inability to sit quietly in a room alone.” He may have been right, but then again, sitting in a room alone isn’t necessarily a great state of permanent being either. There was a time we used to talk with dismay about the Japanese phenomenon of intense social distancing known as hikikomori. We would consider with horror the isolation, lack of engagement with society, poor mental health and loneliness of the people who had almost completely withdrawn to their rooms. Those poor bastards locked up in enclosed spaces linked to the outside world only by screens. (more…)

Majority of firms currently using technology to plug talent gaps

Majority of firms currently using technology to plug talent gaps

In the face of hiring and skills issues, 77 percent of UK organisations say they are finding ways for technology to do jobs formerly performed by people, according to a new poll from Rackspace Technology.  According to the survey, two thirds (64 percent) of UK companies are downsizing their staff, facilitated by technology, out of a necessity, with roles in customer service the most likely to be automated, as identified by 70 percent of business decision makers – followed by IT operations (62 percent), sales and marketing (57 percent), business operations (56 percent), and HR and admin (56 percent). (more…)

Borderless working will erode company culture, bosses fear

Borderless working will erode company culture, bosses fear

A lighthouse to illustrate the challenges of working in isolation as a metaphor for borderless workingA poll from Perkbox claims that almost half of businesses moving towards more borderless working (47 percent) are concerned how the shift will impact their company culture. These concerns stem from perceptions around managing a globally distributed workforce and the challenges this can bring. For example, a third of business leaders (33 percent) say different time zones make collaboration less effective. Meanwhile ,31 percent state inconsistency in different employee expectations around benefits or working styles causes friction between borderless managers and their teams. (more…)

Lease cycle means West End office market will ‘reset’ by 2025

Lease cycle means West End office market will ‘reset’ by 2025

An ancient snakes and ladders game board to depict the vicissitudes of the office market in LondonA BNP Paribas Real Estate analysis claims that London’s West End office market is on course to ‘reset’ by 2025 following a major leasing event cycle commencing in 2023, which will see a flurry of renewals, expiries and break clauses executed by both landlord and tenant, which will alter the market as we know it by the milestone year.  According to the firm’s own West End data, 40 percent of the market will have a lease event in 2023 and 2024, with equally large volumes to follow in the two subsequent years. This freedom of tenant movement coupled with a restricted supply line, could drive rents on prime buildings from their current 2022 position of £140 sq ft to £200 sq ft in 2023 and £250 sq ft in 2024, and further into 2025 where the initial cycle ends. (more…)

Mental health flagged as major concern in HSE annual stats

Mental health flagged as major concern in HSE annual stats

The nose of a black dog, as a metaphor for work related mental health issuesThe estimated number of workers in Great Britain suffering from work-related illness is 1.8 million with mental health issues related to stress, depression, and anxiety making up around half of all cases. That is the headline figure in the latest annual statistics report from the Health and Safety Executive (HSE). The figures from the workplace regulator show there were an estimated 914,000 cases of work-related stress, depression, or anxiety in 2021/22. An estimated 17 million working days were lost due to work-related stress, depression, or anxiety in 2021/22. This is over half of all working days lost due to work-related ill health.

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Workplaces are plagued by classism, report claims

Workplaces are plagued by classism, report claims

Toffs and Toughs famous photo that illustrate class divide and classismA new poll claims to highlight the need to tackle classism at work, with 57 percent of employees witnessing discrimination or a lack of inclusivity in the last year alone. A third of UK employees say classism is active in their workplace, according to the 2022 Diversity & Inclusion in the Workplace Report from Wildgoose. The report is based on a survey of employees from 133 UK workplaces. It asked if their workplace is an inclusive environment, what areas of diversity their organisation could improve upon, and whether they have experienced discrimination or inequality in the workplace. (more…)

People become dysfunctional in the face of restrictive management controls

People become dysfunctional in the face of restrictive management controls

A wooden mannequin to illustrate the issue of management controlsEmployees who perceive management controls to be restrictive and punitive will develop dysfunctional and negative responses to the organisation where they work, according to a new study involving the University of East Anglia (UEA). These responses might be observed through what the researchers call ‘workplace deviance’ – for example absenteeism, reducing effort, daydreaming, taking longer breaks – and turning a blind eye, also referred to as ‘deliberate ignorance’ by the research team from the UK and Spain. (more…)

Vast majority of unemployed over-50s planning to return to work

Vast majority of unemployed over-50s planning to return to work

An exclusive survey of over 50s by the UK’s leading independent job board, CV-Library, claims that an overwhelming 91 percent of inactive workers in the age bracket intend to return to work.  The Office for National statistics (ONS) recently revealed that the number of people aged 50-64 who are economically inactive has increased by 3.6 million, a rise of 10 percent since before the pandemic and the survey results support this with 41.5 percent reporting that they either left a job or have been out of work since then, but a turnaround looks imminent. (more…)

BDP reports on successful year for the design firm

BDP reports on successful year for the design firm

BDP installation at Astra ZenecaBDP has published its results for the financial year ended 30 June 2022. The practice achieved revenues of £136.6m and an operating profit of £13.2m. The multidisciplinary practice won a number of prestigious projects in the financial year and expanded into new locations by establishing new presences in New York, Lima and Edinburgh to create a network of integrated, collaborative studios with global reach. The organisation’s employee numbers have also returned to pre-pandemic levels as it welcomed talented people back to its workplaces across the globe. (more…)