Search Results for: economic

Global migration plays an important role in London’s ongoing success, says report

Global migration plays an important role in London’s ongoing success, says report 0

by • Cities, Facilities management, News, Property, Workplace

Global migration plays an important role in London’s ongoing success, says reportDemand for construction workers in London looks set to grow due to the completion of Crossrail and the extension of the Northern Line alongside other infrastructure projects. But a new analysis reveals the Capital is struggling to attract and train the workforce needed; with London and the South East having a shortfall of 60,000 people in the construction industry. This is according to a first of its kind analysis of the role of migration on London’s economy by London First and PwC. ‘Facing Facts: the impact of migrants on London, its workforce and economy’ argues that London’s growing workforce is significantly contributing to economic growth and helping to create more jobs in the capital. The report, which draws on a comprehensive range of information, including detailed ONS Labour Force Survey data shows how London’s total workforce has grown from 4.3 million people in 2005 to just under 5.2 million, made up of people from around the UK, the EU and the rest of the world.

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Technology can help encourage employees make healthier lifestyle choices

Technology can help encourage employees make healthier lifestyle choices 0

by • News, Technology, Wellbeing, Workplace

Technology can help encourage employees make healthier lifestyle choicesFostering behavioural change among employees to encourage them to make healthier lifestyle choices could deliver both productivity gains and economic growth, a new report claims. According to Human-Centric Health: Behaviour Change and the Prevention of Non-Communicable Diseases, by the World Economic Forum in collaboration with Willis Towers Watson, behavioural economics will be critical to encourage healthier lifestyles and reduce the burden of non-communicable diseases (cardiovascular disease, mental illness, cancer, chronic respiratory disease and diabetes) that account for approximately 16 million premature deaths annually and will cost an estimated cumulative loss of $47 trillion in economic activity worldwide over the next two decades. According to the analysis, technology such as mobile phones with accelerometers that make activity challenges easier and engage individuals in a community of supportive peers will improve people’s understanding of health-related knowledge and encourage them to reshape their behaviour. Linking individuals to ‘commitment contracts’ to exercise, quit smoking, or adhere to medicine prescription schedules will also be easier to monitor using sensors and mobile technology.

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Digital transformation and flexible workforce will help drive growth, say senior managers

Digital transformation and flexible workforce will help drive growth, say senior managers 0

by • Flexible working, News, Technology, Workplace

Implementing new technologies over the next 12 months is of primary importance for  senior managers, with nearly two-fifths of finance directors saying digital transformation is one of their greatest priorities. Against a backdrop of economic uncertainty, chief financial officers (CFOs) are focusing on increasing profitability (41 percent) and driving overall company growth (39 percent) in the year ahead, according to research from, Robert Half Management Resources which claims that CFOs and finance directors (FDs) will assume more responsibility for balancing traditional financial responsibilities with developing business strategy. The use of temporary and interim professionals also looks set to continue with a third of CFOs and FDs planning to use temporary staff for business transformation projects to either fill vacated positions or support active expansion. In the long-term, 31 percent of finance executives plan to actively add new permanent positions to implement the company’s digitisation and automation efforts over the next 12 months.

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New book offers a roadmap for workers in the age of smart machines

New book offers a roadmap for workers in the age of smart machines 0

by • News, Technology

University of Virginia Darden School of Business Professor Ed Hess and Katherine Ludwig have released a new book, Humility Is the New Smart: Rethinking Human Excellence in the Smart Machine Age (Berrett-Koehler, January 2017), where they wrestle with the defining workplace question of our era and offer workable solutions for employees to stay relevant. In the book, Hess and Ludwig argue that workers of the world stand at the brink of an unprecedented transformation, as a coming age of smart machines promises to eliminate tens of millions of jobs across the socioeconomic spectrum. The transition to an era of widespread automation will be tumultuous for both companies and employees, and its effects on the fabric of society have not yet been fully considered by workers, government entities or global corporations.

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We need to rethink everything we know about self-employment and the gig economy

We need to rethink everything we know about self-employment and the gig economy 0

by • Flexible working, News

The rise in self-employment is being led by workers in relatively ‘privileged’ high-skilled, higher-paying sectors such as advertising and banking rather than the gig economy. Their considerable tax advantages over employees, rather than new technology and the gig economy, are central to the rapid growth in self-employment, according to a new analysis published by the Resolution Foundation. Self-employed workers in the larger but slower growing ‘precarious’ sectors that have dominated the recent public debate, enjoy a much lower tax advantages over employees but still miss out on important pay and employment rights. The analysis shows that 60 per cent of the growth in self-employment since 2009 has been in ‘privileged’ sectors, despite them making up just 40 per cent of the self-employed. The fastest growing sectors have been advertising (100 per cent growth), public administration (90 per cent), and banking (60 per cent). The remaining 40 per cent of the growth in self-employment has come in more ‘precarious’ sectors, such as construction and cleaning. The Foundation notes that despite the focus on Uber in recent years, the sector that includes taxis is actually only up 7 per cent since 2009, a third of the 22 per cent growth in self-employment up as a whole.

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HR set to be the powerhouse of business in the open economy of 2020

HR set to be the powerhouse of business in the open economy of 2020 0

by • Flexible working, News, Technology, Workplace

A new report commissioned by Samsung claims that by 2020, the impact that changes in society and technology will have upon the future of the workplace will elevate Human Resources (HR) to a powerful new role. The arrival of what Samsung calls the open economy will create a new environment in which a breed of ultra-flexible freelancers will prosper. Their arrival will present great opportunities for those organisations that embrace them but there will be significant challenges as well. Automation will be increasingly prevalent, but human skills will also rise in value as whole new job categories will be created around creativity, human judgement and intuition capabilities –positioning HR at the forefront of dealing with the significant industry changes. Emerging technology and artificial intelligence will undoubtedly create great change in many industries but it will also release human workers from mundane and repetitive tasks, liberating a workforce where human judgement and expertise becomes the centre of any organisation’s human resources.

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Germany most popular country for career relocation, despite lack of flexible working

Germany most popular country for career relocation, despite lack of flexible working 0

by • Flexible working, News, Wellbeing, Workplace

Nearly three quarters of European employees would consider career opportunities abroad, with Germany voted the most desirable place to work claims a new study of nearly 10,000 working adults across Europe. According to research by ADP which looked at how employees feel about the future of work, international competitiveness and talent management, European employees have a strong appetite for international work, as almost three quarters (74 percent) would consider other countries for career opportunities. At 21 percent, Germany tops the list of most popular places to relocate, with the United Kingdom (15 percent) and France (12 percent) in second and third place; with North America surprisingly coming in much further down the list in 12th place. Despite their popularity, Germany, the UK and France aren’t particularly strong in any of the areas measured in the survey, such as skills and development, flexible working options and stress in the workplace.

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Millennials now less likely to give up job security, but still want flexible work

Millennials now less likely to give up job security, but still want flexible work 0

by • Flexible working, News, Wellbeing, Workplace

Millennials less likely to leave security of their jobs, but still want flexible work

Millennials are less likely to leave the security of their jobs this year as the events of 2016; terror attacks in Europe, Brexit, and a contentious US presidential election appear to have rattled their confidence. This is according to Deloitte’s sixth annual Millennial Survey of nearly 8,000 millennials from 30 countries, which found that the “loyalty gap” between those who saw themselves leaving their companies within two years and those who anticipated staying beyond five years has moved from 17 percentage points last year to seven points. The desire for security is also apparent in the finding that, while millennials perceive across-the-board advantages of working as freelancers or consultants, nearly two-thirds said they prefer full-time employment. Those in highly flexible organizations appear to be much more loyal to their employers and are two-and-a-half times more likely to believe that flexible working practices have a positive impact on financial performance than those in more restrictive organizations. Three-quarters of those offered flexible working opportunities say they trust colleagues to respect it, and 78 percent feel trusted by their line managers.

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Level of wellbeing higher for those who ‘wind-down’ into retirement

Level of wellbeing higher for those who ‘wind-down’ into retirement 0

by • Flexible working, News, Wellbeing, Workplace

New research into the effect of retirement on wellbeing commissioned by The What Works Centre for Wellbeing claims that those who gradually reduce their working time with more flexible hours improve their levels of wellbeing. The study looked at all existing research and found that part-time working towards the end of our careers improves life satisfaction. It advises that employers should support older workers to ‘wind-down’ into retirement with bridging jobs or reduce their working hours to avoid poor wellbeing, a new international study reveals. However, the research highlights that this depends on whether employees had control over when they retired, rather than being forced out through ill health or restructuring. If people take up bridging jobs because of financial strain, their wellbeing drops. Even after accounting for income and health, wellbeing is higher for those who have control over the timing or plan for their retirement, and voluntary retirees derive greater pleasure from free time in retirement. On the contrary, wellbeing is lower for those who are involuntarily retired, especially due to health reasons.

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Gender pay gap for Millennials is closing, but for the wrong reasons

Gender pay gap for Millennials is closing, but for the wrong reasons 0

by • Flexible working, News, Workplace

Gender pay gap for Millennials is closing, but for the wrong reasons

Millennial men are earning less than Generation Y did in their earlier careers reflecting a shift towards young men doing low paid work traditionally carried out by women. In his Grigor McClelland lecture on 21st century inequality to Manchester Business School yesterday, Resolution Foundation Director Torsten Bell drew on upcoming research for the Foundation’s Intergenerational Commission on the labour market prospects for younger generations, which highlights the stark gender differences on inter-generational progress on pay. According to the data, Millennial men have earned less than Generation X men in every year between the ages of 22 and 30, resulting in a cumulative pay deficit during their 20s of £12,500. In contrast millennial women have experienced neither generational pay progress or decline. This has narrowed the gender pay gap for millennials, but for the wrong reasons, a shift towards lower-skilled jobs, often part-time, which have stunted the pay progress of young men.

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Birmingham creates city development blueprint with global dimension

Birmingham creates city development blueprint with global dimension 0

by • Cities, News

Researchers at the University of Birmingham have developed a way of investigating or diagnosing the challenges facing their home city that could be used to help improve the lives of city dwellers around the world. And the blueprint they are working with could help city policy makers and other countries to take more effective actions to boost the quality of life for residents by providing better outcomes. Project leaders are already looking at how the work might be applied in countries like India, Brazil and South Africa. The first part of the Urban Living Birmingham pilot project used a wide range of data and evidence used by city leaders to inform policy combined with an analysis of 248 datasets – identifying the challenges facing Birmingham.

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Brexit impact on UK’s future workforce size could undermine productivity

Brexit impact on UK’s future workforce size could undermine productivity 0

by • Knowledge, Legal news, News, Technology, Workplace

With the UK facing at best, very slow growth, or even shrinkage, of the working population, future changes to migration levels into the UK due to Brexit could exacerbate the financial stresses and strains caused by the UK’s aging workforce. This is according to the Mercer Workforce Monitor™ which claims that companies will need to invest heavily in automation, sectors of society historically under-represented in the workforce and look at ways of increasing productivity. According to the analysis, since 2013, the levels of EU and non-EU born immigration into the UK workforce has filled a gap left by the aging of the nation’s UK-born workforce which sees more in this group leave the workforce – through retirement, emigration or death – than enter it. National growth is closely linked to workforce growth; so reducing its future size would create major headwinds for the UK economy and since another 3.4 million people will reach the age of 65 in 2030; unless the UK decides to make drastic changes to the funding of pensions, health and social care, this smaller working population will be required to proportionally spend more of their income to care for their older citizens.

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