Search Results for: economic

December 5, 2016

Just one percent of UK firms are ready for the digital economy ⁰

A new study by Oxford Economics and SAP claims that just one in every 100 organisations in the UK is capitalising on the digital economy, significantly fewer than in comparable European countries such as Germany where the figure is more than 2 in 5 and Spain (22 percent). According to the study, the benefits of digital readiness include greater workforce diversity. The ‘digital winners’ defined by the report have higher female representation at mid-management level level and slightly more women overall. Four in ten of the study’s digital winners globally reported effective diversity programmes, compared to 36 percent of all companies in France, 33 percent in Russia, 30 percent in the UK and 23 percent in Spain.

November 30, 2016

Germany slides down rankings as one of world’s top employment talent hotspots ⁰

by Sara Bean • Knowledge, News, Workplace

Germany has slipped down the rankings as one of the world’s top employment talent hotspots, with other established economic powers such as the UK and France playing only minor roles in sustaining Europe’s pre-eminence. According to the World Talent Report by IMD Switzerland, Denmark, Belgium, Sweden and the Netherlands occupy the top five places in the rankings – the first two retaining their standings from last year. Finland, Norway, Austria, Luxembourg and Hong Kong complete the top 10, with Germany 11th, Iceland 16th, Ireland 18th, the UK 20th and France down in 28th. The objective of the World Talent Report is to assess how countries sustain the talent pool necessary for businesses to maximize their performances. Austria was one of the biggest movers over the past 12 months, climbing 11 places to break into the top 10, while Belgium rose by six positions to take third spot. By contrast, Germany slipped out of the elite, dropping from 7th to 11th, after being impacted especially heavily by the economic crisis affecting much of Europe.

November 28, 2016

Britain is missing a trick by not getting workplace training right ⁰

by Steve Hill • Comment, Workplace

New research from PwC highlights Britain’s failure to provide opportunities for young people. The study brings attention to the fact that the country ranks a lowly 21st out of 35 OECD members for its ability to get 15 to 24 year olds into work, education or training. If the UK could equal Germany’s low youth unemployment rate it would stand to gain around £45 billion, a 2.3 percent increase in GDP. The PwC report compares numerous countries, however Germany, Austria and Switzerland come out on top when it comes to providing career opportunities and workplace training to young people. Perhaps a clue to their success is that these nations all have so-called ‘dual education systems’ where work-based learning sits with equal stature alongside traditional academic study.

November 28, 2016

Employers urged to find ways of motivating and retaining older workers ⁰

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

Employees over 50 still have a huge amount to offer, and that is why employers need to develop and implement strategies to find ways of managing and retaining them. The results of a three year study – led by Nottingham Trent University with Workplace Innovation Limited – aimed at preventing the loss of vital knowledge, skills and experience of increasingly ageing workforces indicate that measures should be taken by employers to ensure older workers don’t become demotivated and head into early retirement. The first-of-its-kind study follows findings which reveal that by 2030 the number of people aged over 55 in high-income countries will have grown to 500 million. As part of the study, researchers found that interventions which seek to improve job design and the way in which work is organised can lead to better engagement and retention of older workers – as well as producing wider benefits for the business and its employees. The project investigated work-related predictors of retirement for the over 50s, finding that manageable job demands and more control over roles were key factors in delaying a decision to retire.

November 25, 2016

Reducing paper-weight is the key to maintaining a healthy business in the digital age ⁰

by Chas Moloney • Comment, Technology

The idea of creating a paperless office has been circulating for at least 40 years. Business Week famously forecast its arrival in 1975, predicting that paper would be on its way out by 1980 and dead by 1990. However, it’s almost 2017 and even with new and innovative digital technologies that enable us to operate in a highly connected world, the paper-light office is still far from our reality. Yet institutions from a variety of different sectors are leading the way when it comes to driving initiatives forward to going paperless and paper-light. For example, to address the need of approximately 12 million people in the UK that annually fill in a self-assessment tax form, plans have been put in place by the government to give individual digital accounts, aiming to allow more than 50 million individuals and small businesses to manage their tax affairs online. As a result, costs will be significantly cut by erasing expensive and laborious bureaucratic processes in the long-term, whilst fundamentally streamlining and simplifying intricate business services and applications.

November 24, 2016

Autumn Statement could undermine the growth of London’s tech firms ⁰

by Sara Bean • Cities, Facilities management, Legal news, News, Public Sector, Technology

Changes in business rates announced in yesterday’s Autumn Statement are likely to hit hardest the areas in the Capital such as Shoreditch and Fitzrovia where innovative tech companies are located, commented Jon Neale, head of UK Research, JLL. “The impact will no doubt undermine government plans to boost tech investment under its ‘Industrial Strategy’ announced earlier this week,” he said. “Meanwhile, office costs are high in London and post Brexit we need to minimise the risk that companies, will see cheaper continental cities such as Berlin as better bet place to set up shop.” He did add however that the promised “£1.3bn to improve roads and ease congestion is welcome and is likely to unlock development sites and promote economic development in many parts of the country. If the UK is to really address the challenges and opportunities of Brexit, investment in infrastructure needs to be more ambitious as well as more focused on an increasingly digital, hi-tech future. Green and smart city technology, new tram and underground networks and truly high-speed broadband would help provide precisely the platform UK business needs.”

November 22, 2016

Employers and ambitious employees combine to boost a buoyant job market ⁰

by Sara Bean • News, Workplace

The job market continues to remain buoyant in the face of economic and political uncertainties, and this is matched by a noticeable enthusiasm among employees to move jobs, suggests new research. The Totaljobs Employment Index, which measures activity across the totaljobs website, has shown that job postings on the site were up 7 percent year-on-year (YoY) in October. But this demand seems to have been outstripped by jobseekers’ needs, with the number of applications on the website up 14 percent YoY. This means that despite an increase in vacancies, the number of applications per job has soared 7 percent. This trend continues when looking at the last three months (Aug-Oct) compared with the same period in 2015, as jobs rose 11 percent and applications increased 12 percent. Broken down across the UK, the best performing regions in terms of growth in jobs posted include the North West (up 17 percent), the East Midlands and Wales (both up 13 percent).

November 16, 2016

Two thirds of female professionals’ jobs downgraded after career break ⁰

by Sara Bean • Flexible working, News, Workplace

A lack of flexible roles means that two thirds of professional women who return to work after a career break, work fewer hours than they prefer or go into lower-skilled or lower-paid roles, claims new research by PwC, in conjunction with Women Returners and 30% Club. 427,000 UK female professionals are currently estimated to be on a career break and likely to return to the workforce in the future. Of those, three in five (249,000) are likely to enter lower-skilled roles when they return to work. This has serious implications for earnings as this downgrading is associated with an immediate 12-32 percent reduction in hourly earnings, depending on whether the woman remains with the same employer. A further 29,000 women returning to part-time work would prefer to work longer hours but are unable to due to a lack of flexible roles. Altogether, two-thirds of (or around 278,000) women could be working below their potential when they return to the workforce.

November 15, 2016

London office construction increases but pace of new building slowing down ⁰

by Mark Eltringham • News, Property

Central London office construction has continued to rise over the past six months, reaching 14.8 million sq ft, and setting a new eight-year development high in the capital. The latest London Office Crane Survey by Deloitte Real Estate has recorded 40 new starts, adding 2.8 million sq ft into the development pipeline. Once again, the greatest number of new starts was in the City. Construction began on 14 new schemes, totalling 1.1 million sq ft, and increases the City’s development pipeline to 8.8 million sq ft. In contrast, the West End and Midtown submarkets have seen construction activity decrease by 25 percent and 20 percent respectively over the past six months. This is largely as a result of a number of projects completing and smaller schemes starting. For the first time, the crane survey also tracks construction activity in three additional locations: Vauxhall-Nine Elms-Battersea, White City and Stratford. These three areas boast 11 office schemes under construction and will deliver 2.9 million sq ft to the market, 65 percent of which is already pre-let.

November 15, 2016

‘Western’ millennials rate sense of purpose most important job criterion ⁰

by Sara Bean • News, Technology, Workplace

A sense of purpose remains the top priority among ‘Western’ millennials from the United States, United Kingdom, Germany and France; but in the largest emerging economies, including China and India, salary and career advancement remain the most important job criteria, according to the Global Shapers Annual Survey for 2016. While the US, UK and Canada lead the list among young people who would like to live abroad to advance their careers, the United Arab Emirates and China are the most preferred emerging-market countries, the survey from the World Economic Forum survey claims. They came in at 11th and 12th place, respectively, ahead of the Scandinavian countries, all other BRICS (Brazil, Russia, India, China and South Africa) countries and Singapore. One reason for the strong performance of the UAE may be the good prospects for landing a job in the country. While 34 percent of millennials globally identified the lack of economic opportunity and employment as one of the three most serious issues affecting their country – making it the biggest issue of concern after corruption –only one in 10 of the UAE respondents said they see unemployment as a serious issue.

November 14, 2016

The UK’s infrastructure is improving but too slowly for most organisations ⁰

by Mark Eltringham • Flexible working, News, Property, Technology

Almost half of firms (44 percent) believe the UK’s infrastructure has improved over the past five years, but only a quarter (27 percent) think it will pick up in the next five years, and two thirds (64 percent) suspect it will hamper the country’s international competitiveness in the coming decades, according to the 2016 CBI/AECOM Infrastructure Survey. Delivery of key projects already in the pipeline emerged as the top priority among the 728 firms surveyed. Delivery of £38 billion of investment in the rail network through Control Period 5 (99 percent of respondents), and £15 billion of investment in the UK’s motorways and A-roads through the Road Investment Strategy (97 percent of respondents) rank highly, as does delivery of a new runway in the South East (85 percent) & HS2 (80 percent). Many firms have specific concerns about teh country’s digital infrastructure including the ability tow work on teh go on trains and elsewhere.

November 14, 2016

Business association calls for action on high cost of childcare ⁰

by Mark Eltringham • Flexible working, News

The British Chambers of Commerce and Middlesex University, have published a new survey to gauge the opinion of business leaders on the cost and availability of childcare and its impact on the workforce. The survey of businesses claims that a third of firms (33 percent) regard the availability of childcare as a key issue in recruiting and retaining staff. The survey of more than 1,600 business leaders across the UK also claims that over a quarter (28 percent) of firms have seen a reduction of working hours by staff due to the cost of childcare, while nearly 1 in 10 (9 percent) have seen employees leave their business. Although the survey suggests that nearly 40 percent of businesses already view government plans to double the availability of free childcare next year as likely to have a positive impact on their business, the BCC is calling on government to go further. It says the administration should consider the costs and benefits of a universal entitlement up until school entry, which would help more firms retain and promote productive staff, and help working parents progress.