Search Results for: economy

Flexible working could boost economy by £90 billion, claims report

Laptop on Kitchen Table with Cup of CoffeeThe widespread adoption of flexible working in the UK could boost the economy by as much as £90 billion each year according to a new report from mobile tech firm Citrix and the Centre for Economics and Business Research (Cebr). The study of 1,272 British knowledge workers claims that their ‘best case scenario’  calculation is based on saving UK workers £7.1 billion in commuting costs and over half a billion hours spent travelling. This would add around £11.5 biliion annually to the economy. The report also suggests that an even greater boost to GDP could come from the introduction of a large number of currently unemployed and underemployed individuals such as the retired, disabled and  stay-at-home parents. By tapping this pool of talent the report claims that the economy would benefit by up to £78.5 billion annually, equivalent to nearly 5 percent of GDP.

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Green manifesto challenges next government to deliver low-carbon economy

Alliance issues green manifesto for the next governmentOn the eve of the Autumn Statement, an influential business-led coalition of businesses, NGOs, industry associations and cross-party politicians has called on the next Parliament to tackle a range of environmental challenges affecting the UK economy and the built environment. The Aldersgate Group Manifesto identifies six target areas it says the next government must meet to build a growing, sustainable and resilient UK economy. It must accelerate the move to a competitive low carbon economy; prioritise energy and resource efficiency; improve our understanding and the state of our natural capital; equip the UK’s workforce with the right skills to benefit from the opportunities offered by the transition to a sustainable economy; increase financial flows towards low carbon and other environmental projects; and ensure the UK continues to benefit from progressive European environmental standards whatever the UK’s future relationship with the EU. More →

UK workers feeling more optimistic on state of global economy than the PM

UK workers feeling more optimistic on state of global economy than the PMDavid Cameron has begun the week with dire warnings on the fragility of the global economy, but UK workers are (or were) feeling more optimistic. According to an annual report, there’s been a significant uplift in optimism, stability and dynamism, compared to the same time last year. The Workforce View 2014/15 by ADP, which measures the views and attitudes of more than 2,500 UK workers, suggests that the positive economic outlook reported so far in 2014/15 has filtered down to employees. The study shows that more than three quarters of workers (77%) now feel optimistic about their next 10 years at work, up from 64 per cent in 2013 and just 59 per cent in 2012. Over a quarter (26%) of respondents went further, saying they are ‘very optimistic’ about the years ahead – double the figure reported just one year ago (13%). Workers say they are more confident about job security (36 per cent), feel that career opportunities are growing again (35%) and sense the economy is improving, thereby benefiting their careers (32%). More →

Majority of UK SMEs believe technology can help rebalance the economy

North south divideThe UK’s small and medium sized businesses believe that the regional divide in the economy can be bridged to a large extent by technology, according to a new report from Brother UK. According to the report, Regional Attitudes to Growth and Competitiveness, carried out in conjunction with Cardiff University and based on a survey of 600 SMEs around the country, over half (57 percent) believe technology was the key driver of their region’s competitiveness and only one in ten say the competitiveness of their region has declined since the start of the recession. Over two thirds (71 percent) believe technology can improve regional competitiveness and slightly more (73 percent) believe it’s possible to service customers and clients across multiple regions efficiently from their current location. The survey also claims that because each company spends an average of 244 working days a year on business travel and the UK has the second highest annual business travel spend of any Western European nation, despite its comparatively small size, many firms are turning to technology to enhance their competitiveness.

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Happiness and wellbeing more important to people than economy

International Happiness DayWhatever their opinion on yesterday’s Budget, the vast majority of Britons think levels of happiness and wellbeing matter more than the size of the economy. In a YouGov poll commissioned to mark today’s United Nation’s International Day of Happiness, a majority (87%) of UK adults were found to prefer the “greatest overall happiness and wellbeing”, rather than the “greatest overall wealth” (8%), for the society they live in. And despite the Conservative Party’s much lampooned attempts to appeal to working class people who they presume enjoy bingo and beer, this majority was found to be broadly consistent across all regions, age groups and social classes. LSE economist and co-founder of Action for Happiness, Lord Richard Laya says the results show that more priority should be given to mental health and wellbeing. More →

Mental illness costs the UK economy £70 billion each year, claims OECD

DepressionAccording to a new report from the Organisation for Economic Co-operation and Development (OECD), issues related to mental health cost the UK around £70bn every year in lost productivity, benefit payments and spending on healthcare. The OECD’s Mental Health and Work report is an international initiative which has already produced reports over the last year exploring related issues in Belgium, Denmark, Norway, Sweden, Switzerland and now the UK. Forthcoming reports are due later this year for Australia, Austria and the Netherlands. The new UK report calls for employers to adopt better policies and practices to help people cope with mental health issues.

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As economy picks up, change management is greatest employment challenge

As economy picks up, implementing change is greatest management challenge in coming year

The latest figures from the Office of National Statistics show that the unemployment has fallen to 7.6 per cent, its lowest rate in more than three years, and the signs are that employers can plan for the future with renewed confidence. In a poll conducted at the recent Chartered Management Institute’s National Annual Conference, 74 per cent of managers said market conditions for their business are currently more conductive for growth than they were last year. Their biggest management challenge in the coming year will be implementing change initiatives, with other priorities being: coordinating business development activities; getting the best performance out of their team; achieving results with fewer resources; internally promoting their department as a value-adding business partner; and managing and bringing through star performers.

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Long term investment in infrastructure needed to boost UK economy

ConstructionThe UK government should reverse the long term slump in infrastructure investment to boost the economy, according to a new report from the Centre for Economic and Business Research and the Civil Engineering Contractors Association. The report, Securing Our Economy: The Case For Infrastructure, calls for the government to address the decade long £13bn infrastructure construction shortfall and lays out a series of recommendations to reverse the situation. The report claims the UK endures a £78bn GDP ‘black hole’ each year due to the lack of investment and that by investing at the level of other developed economies, the economy could enjoy an additional £100 billion each year by 2026.

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Private sector recruitment to increase, despite fragile economy

Private sector employment

Employers from the private sector intend to hire new staff in the coming months, despite UK businesses not anticipating economic growth in the next two quarters. According to the latest Business Trends report by accountants and business advisers BDO LLP UK businesses’ hiring intentions over the next two quarters, reached 96.0 in March, the highest since August 2011. Peter Hemington, Partner, BDO LLP, commented: “It is encouraging to see improvement in UK businesses’ hiring intentions, particularly in light of the imminent public sector payroll cuts which will add pressure to the unemployment rate.” More →

Consolidation of state properties boosts London economy by £3.5bn

Whitehall,_LondonAccording to a new report from property consultancy Knight Frank into the impact of the Government’s policy of consolidating and improving the management of the public sector estate in London, the economy has been boosted by as much as £3.5 billion. The study has reviewed the results of the work carried out by the Cabinet Office’s Efficiency and Reform Group at 16 properties in central London including the Department for Business, Innovation and Skills, the Department for International Development, the Land Registry and the Crown Prosecution Service. Many of these sites were seen as dated and have now been redeveloped for use by other organisations. More →

Cabinet for Core Cities looks to reshape the English economy

A newly formed Cabinet of Core Cities met for the first time in Liverpool on Friday, seeking to reshape England and call on the Government to work with it to maximise the economic potential of the regions by creating a more balanced economic structure for the country and develop policies that would create jobs and investment. The cities represent the urban centres of Manchester, Nottingham, Newcastle, Birmingham, Leeds, Liverpool, Bristol and Sheffield.

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Working life in 2024 is defined by stress, poor management and loneliness

Working life in 2024 is defined by stress, poor management and loneliness

Despite living in an era of progress, people feel that stress, disengagement, and declining mental health are prominent in daily working lifeThe 2024 State of the Global Workplace report by Gallup sets out to provide a comprehensive analysis of employee experiences worldwide, revealing a large number of people who feel they are under increasing strain. Despite living in an era of remarkable technological and economic advancements, workers face significant challenges, with stress, disengagement, and declining mental health prominent in people’s daily working life. The report suggests that 41 percent of employees experience high levels of daily stress, with poor management practices being a major contributing factor. One in five workers report daily loneliness, an issue particularly pronounced among remote employees. More →