Search Results for: economy

No trade deal Brexit would cost UK £37bn in lost output by end of 2022

No trade deal Brexit would cost UK £37bn in lost output by end of 2022

UK GDP will be £37bn lower by the end 2022 if there is no trade deal with the EU by the end of this year than if trade talks continue beyond the government’s deadline, a report has claimed. The research by Oxford Economics (registration required) also predicts that financial markets would react negatively to a ‘no trade deal Brexit’, with sterling depreciating by 5 percent against the dollar in late 2020. It would drop around 3.5 percent against the euro, as the eurozone would also face reduced growth in this situation. (more…)

Third of freelancers plan to stop contracting in UK due to IR35

Third of freelancers plan to stop contracting in UK due to IR35

IR35Nearly a third of freelancers are planning to stop contracting in the UK because the changes to IR35 due in the private sector in April, research has claimed. One in seven freelancers (13 percent) plan to find contracts abroad, 11 percent plan to stop working or retire early and 8 percent plan to move into employment, according to IPSE (the Association of Independent Professionals and the Self-Employed). Half of the freelancers surveyed also said they will only continue freelancing if they can find contracts to which the new off-payroll working rules do not apply. (more…)

Workplace leaders must adapt to a new technological reality

Workplace leaders must adapt to a new technological reality

workplaceI speak with senior workplace leaders daily and those conversations, coupled with our research and that of other people, offer us a striking perspective on the trends and changing nature of the workplace and in particular the impact of technology. Some themes are cropping up time and time again in these conversations and research and point to a new technology-led reality that we must all address. (more…)

IR35 pushes freelancer confidence to six-year low

IR35 pushes freelancer confidence to six-year low

IR35Two surveys have highlighted continuing fears among freelancers about the changes to the IR35 rules due to take effect in April. The reforms will shift the responsibility for defining contractors’ tax status from the individual to the employer to crack down on so-called ‘disguised employment’, where off-payroll workers are able to pay less tax than employees. However, concerns have been raised that the rules could force organisations to bring genuine contractors and freelancers on to the payroll, reducing flexibility for both parties. (more…)

‘Alternative workers’ unhappy with pay but value flexibility

‘Alternative workers’ unhappy with pay but value flexibility

alternative workers The UK’s ‘alternative workers’, comprising gig economy workers, freelancers and contractors, have cited lack of pay, benefits and job security as their most significant concerns in new research. Yet according to The 2020 Pulse of Talent report released by Ceridian, plenty of the 536 respondents praised the flexible and ‘interesting’ nature of the work on offer. (more…)

End of Brexit uncertainty boosts London commercial property market

End of Brexit uncertainty boosts London commercial property market

commercial propertyLondon is set for an increase in commercial property investment in 2020 as international investors target the capital’s high-yielding office market, following the decisive 2019 UK General Election result. According to the latest research from Knight Frank, investors have increased the total capital targeting London commercial assets to £48.4bn, a 21 percent rise on 2019 and £2bn higher than 2018. However, with just £2.3bn of buildings for sale, investors will face strong competition, which is expected to drive values higher in 2020. (more…)

Mental health benefits of time in nature valued at £4.5 trillion globally

Mental health benefits of time in nature valued at £4.5 trillion globally

Mental healthTime spent in the great outdoors is worth abour£4.5 trillion a year in the improved mental health of people, according to results published by a team of researchers from Griffith University’s School of Environment and ScienceCentre for Work Organisation and WellbeingEnvironmental Futures Research InstituteGriffith Business School and School of Medicine.   (more…)

Uber workers cling to “precarious” existence

Uber workers cling to “precarious” existence

UberPolicy makers should resist claims by Uber that its drivers fall into a middle ground between traditional employees and independent contractors, a new study says. The research report, Profits Uber Everything?, by Rotterdam School of Management, Erasmus University, examines Uber’s argument that its drivers are “independent workers” who are, in some respects, like individuals working for others and in other respects are like independent businesses. The company is only trying to establish this new category to exonerate itself of any responsibility for the workers, the researchers claim. (more…)

Communicating employee rewards boosts engagement

Communicating employee rewards boosts engagement

rewardsCommunicating a business’s “employee value proposition” or EPV – the package of rewards that it offers in return for the person’s performance at work – is having an increasingly positive impact on employee engagement, retention and recruitment, research has claimed. Aon’s Benefits & Trends 2020 Survey (registration required) suggests that although the percentage of employers who have, or are working towards, an EVP remains similar to last year (76 percent), the number that now communicate it to staff has increased. Of those employers that have an EVP, 77 percent now explain it to employees, an increase of 9 percent on 2019.

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Is your biggest competitor already working for you?

Is your biggest competitor already working for you?

competitorEmployers worried about rivals poaching their staff should be looking closer to home to spot their next competitor, a new study has claimed. In a survey of 3,000 UK employees by Synergy Creative, nearly half (47 percent) said that they would love to be their own boss, raising the prospect of them setting up in competition to their existing employer. Of those intending to find a new job in 2020, a third said their ideal job is to work for themselves, compared to 25 percent who are looking to move to another company. (more…)

Failure to put employees at heart of data strategy costs UK firms £10bn in lost productivity

Failure to put employees at heart of data strategy costs UK firms £10bn in lost productivity

data strategyA new report from Qlik and Accenture, titled “The Human Impact of Data Literacy” and conducted on behalf of The Data Literacy Project, claims that while most organisations understand the incredible opportunity of data, a gap has emerged between organisations’ aspirations to be data-driven and their employees’ ability to create business value with data. The report argues that data is a ‘gold mine’ that can fuel a culture of innovation and growth as part of a data strategy. However, when employees struggle to make sense of data, productivity and business value can be affected.

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Over half of UK small firms lack high speed internet

Over half of UK small firms lack high speed internet

high speed internetUK SMEs are facing a serious digital dilemma, with three in five operating their business without a high speed internet connection. This finding, from Bionic’s Business Efficiency Index (registration), is part of an overall picture of the UK’s small business community struggling to keep pace with tech acceleration; small minorities have modern payment methods or access to e-commerce channels. 57 percent of SMEs do not have high-speed internet, and under one in ten businesses (9 percent) plan to invest in access in the near future. (more…)