Search Results for: economic

Workplace wellbeing is focus of new report from British Psychological Society

A new report from the British Psychological Society, Psychology at Work: Improving Wellbeing and Productivity in the Workplace examines issues around work, health, and disability and recommends ways that policy makers and employers can tackle poor employment practices using interventions that work with human behaviour, not against it. The report has been launched today, Tuesday 14th November, at the BPS All-Parliamentary Group for Psychology’s (APPG) ‘Healthy Workplaces’ event hosted by Dr Lisa Cameron MP in the Houses of Parliament. Psychology at Work: Improving Wellbeing and Productivity in the Workplace’ was co-authored by Dr Ashley Weinberg, CPsychol AFBPsS, and Nancy Doyle CPsychol AFBPsS.

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New quarterly report highlights latest UK cities trends

A new quarterly report that claims to analyse the latest trends taking place in cities across the UK has been published by Future Cities Catapult, the Government-backed centre of expertise in urban innovation, the City Innovation Brief (automatic download) summarises key developments and changes from cities across the UK, identifying where money is being invested and what future opportunities might look like within the advanced urban services sector.

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Millions of unemployed over 50s struggle more than young people for jobs

New data published today shows that the over 50 age group experience an ‘unemployment trap’ – meaning they are more likely to be out of work than younger age groups, and once unemployed they struggle more than younger jobseekers to get back into employment. Currently almost a third of 50-64 year olds in the UK are not in work – some 3.3 million people. Within this, 29 percent are recorded as ‘economically inactive’ – not engaged in the labour market in any way – which is more than twice the rate of those aged 35-49 (13 percent). It is estimated that around one million of the over 50s who are out of work left employment involuntarily due to issues such as ill health, caring responsibilities or redundancy. Some 38 percent of unemployed over 50s have been out of work for over a year, compared to 19 percent of 18-24 year olds and the Centre for Ageing Better claims that employment support is failing this age group.

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Government land registry makes commercial ownership data free

The Government’s HM Land Registry is making available, for free, data on land or property in England and Wales where the registered legal owner is a UK company or corporate body, or an overseas company. The Commercial and Corporate Ownership Data and Overseas Companies Ownership Data contain more than 3 million rows of data and include the address, company’s name, price paid and country of incorporation along with other useful information.

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New evidence low productivity is having a significant bearing on pay growth

Most private sector workers are still not pushing for pay rises, despite falling real wages and low unemployment, according to the latest quarterly CIPD/The Adecco Group Labour Market Outlook survey. Only a quarter (24 percent) of employers in the private sector say they are under some or significant pressure to raise wages from the majority of their workforce, while almost four in ten private sector firms (38 percent) say they face no pressure at all to raise wages. The most common reason given by private sector employers (23 percent) for the lack of pressure to raise wages is a recognition among workers that the business cannot afford more generous pay increases, underlining the productivity challenge many firms face.  The survey of more than 2,000 UK employers shows a slightly higher proportion of private sector employers (36 percent) cite either some or significant pay pressure to raise wages for certain roles, particularly among high and middle-skilled jobs.

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Brexit thought to be the main culprit for job market attrition and ‘dual’ economy

There are ongoing dual narratives in UK economy caused by the 2016 Brexit vote, the latest Morgan McKinley October Employment Monitor suggests. On the one hand, a new report by Colliers International dubbed London Europe’s top economic City. On the other hand, institutions are stubbornly stuck in limbo, and the fear of major jobs losses looms thick in the sky, keeping hiring low. “The economic tug of war that Brexit kicked off means we still have no idea quite where we’ll land,” said Hakan Enver, Operations Director, Morgan McKinley Financial Services. October was the lowest jobs month of 2017, a possible indication that the closing months of the year will be especially quiet. Job seekers increased by 6 percent month-on-month, but were down just under 40 percent year-on-year. The trajectories are in line with the overall dual trends of 2017. Jobs available were down 14 percent month-on-month and 20 percent year-on-year. Given the underlying health of the economy, Brexit looks to be the main culprit for the job market attrition.

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Seven workplace stories we’ve been reading this week

UK law firms chop staff space despite headcount growth

What 15 minutes of solitude does for your emotions

Like it or not, popularity at work still matters

How younger men can help to break the glass ceiling

What do small businesses really contribute to the economy?

What technology will mean for traditional real estate models

Poor posture in people with disabilities can be fatal

Image: Claremont Group Interiors

New research identifies nine distinct segments of the self employed workforce

Far from being a homogeneous group, nine distinct segments of the solo self-employed workforce have been identified in new research published by the Centre for Research on Self-Employment, in partnership with IES. This segmentation furthers understanding of the solo self-employed population, including the levels of independence and security, and variation in earnings across this broad section of the UK workforce. The solo self-employed are those who do not employ other people and therefore work on their own account, and makes up 84 per cent of the self-employed workforce.

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UK remains the most attractive country for employers and employees

UK remains the most attractive country for employers and employees

UK remains the most attractive country for employers and employeesDespite recent figures indicating that work productivity is down in Britain, the UK remains a highly attractive country for employers and employees based on a combination of talent, location, quality of life and cost, according to the latest edition of Colliers International’s European Cities of Influence report. The analysis of 50 major European economic cities for employers saw London retain its top position, with all other UK cities in the analysis featuring in the top 20 (Birmingham, Edinburgh, Manchester, Bristol and Glasgow).The report finds that quality of life factors are important to accelerate business and attract talent with the research revealing that the nature of workplace strategy is evolving so rapidly that keeping up — let alone staying ahead of the curve — can be a challenge. Employers are now focused on creating a workplace that can attract and retain talent by incorporating co-working and collaborative facilities, flexible working options and ingraining a healthy mindset. With the onus on keeping employees happy and productive, the design and utilization of the workplace is helping to accelerate business productivity more than ever before.

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Boundary-less workplaces must offer contextual, personalised workspaces

Boundary-less workplaces must offer contextual, personalised workspaces

'Boundary-less' workplaces must offer contextual, personalised workspacesThe future workplace will replace familiar, rigid hierarchies and departments with small, collaborative networks of teams and the lines between individual organisations and ecosystems will blur as companies increasingly cast their net wider to innovate. This is one of the predictions made in a Fujitsu-commissioned whitepaper ‘Workplace 2025’ which argues that businesses must rethink social and technology strategies to plan for the future workplace – or risk being left behind. To appeal to future employees with the right skills, the whitepaper, which was produced by European research firm Pierre Audoin Consultants (PAC) advises that businesses must ensure they are moving towards an environment that provides contextual, personalised workspaces aligned to the individual needs of users. At the same time, they should plan to encourage enhanced peer collaboration by implementing technologies such as augmented reality. The Workplace 2025 report foresees that today’s organisational structures will become more agile, adapting to constantly-changing economic conditions, competitive landscapes and customer demands.

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Three quarters of firms dissatisfied with quality of UK infrastructure

Three quarters of firms dissatisfied with quality of UK infrastructure

Three quarters of firms dissatisfied with quality of UK infrastructureBusinesses are concerned about the pace of commitment to improving the UK’s infrastructure, and a record number of firms are dissatisfied with the state of infrastructure in their region. With the UK currently ranking 27th in the world for the quality of its infrastructure, nearly all (96 percent) of businesses in the 2017 CBI/AECOM Infrastructure Survey see infrastructure as important (of which 55 percent view it as critical) to the Government’s agenda. From the Clean Growth Strategy and the £500 billion infrastructure pipeline to its decision to build a new runway at Heathrow and press ahead with the A303 tunnel, the Government has made clear its commitment to British infrastructure. However, only one in five firms is satisfied with the pace of delivery (20 percent) and almost three quarters (74 percent) doubt infrastructure will improve over this Parliament. This lack of confidence is attributed primarily to policy inconsistency (+94 percent of firms) & political risk (+86 percent). The digital sector is the exception, however, where 59 percent of firms are confident of improvements.

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Saudi Arabia announces plans for $500 billion mega city in region

Saudi Arabia announces plans for $500 billion mega city in region

Following last week’s announcement that Toronto is to create a digital city along its waterfront, Saudi Arabia has unveiled plans to build a $500 billion ‘mega-city’ spanning parts of several countries. The plans announced this week are a response to the need for the kingdom to produce a more diverse economic base and will create a zone that will run on alternative energy and have its own legal system and employment laws. The region will be known as Neom, a name derived from terminology meaning ‘New Future’ and will span parts of Saudi Arabia, Egypt and Jordan along the Red Sea coastline as a 26,500 square kilometre development of previously untouched land (pictured). Plans inevitably include technologies such as driverless cars, drones and robots, and were unveiled by Crown Prince Mohammed bin Salman at the Future Investment Initiative in Riyadh this week. The zone is expected to cost around $500 billion (£380.5 billion) and will be powered entirely by renewable energy and focus on industries including energy, biotechnology, food, advanced manufacturing and entertainment.