Search Results for: economy

Many UK freelancers feel lonely and isolated following leap to self-employment

Many UK freelancers feel lonely and isolated following leap to self-employment

The solo self-employed are now a vital element of the UK economy, contributing around £271 billion to the government’s coffers in 2017, of which around £125–140 billion came from freelancers. But with some predicting that by 2020, half of the workforce will be freelancing, we need to take an objective look at the world of self-employment and tackle its challenges head-on, giving freelancers the tools and skills they need to work effectively — and happily.

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Younger workers risk missing out on career opportunities by shunning SMEs

Younger workers risk missing out on career opportunities by shunning SMEs

Younger workers risk missing out on career opportunities by ignoring SMEsYoung people leaving education and looking for work may be missing out on potential employment opportunities by failing to consider Small and Medium Enterprises (SMEs) and the advantages they offer, new research from Santander UK claims. ‘Gen Z’ and Millennials do not believe SMEs offer the same job security or salary as large businesses, meaning just a third (35 percent) of young people leaving education in 2018 want to work for smaller employer, and an even smaller proportion, just one in six (18 percent), want to work for a start-up or micro business. The most popular career aspirations for Generation Z and Millennials are to work for a large firm (51 percent), the public sector (51 percent) or a global multinational (49 percent), because of a perceived lack of job security (56 percent). There is also the belief that SMEs offer a lower salary (46 percent) and fewer opportunities for progression than large companies (33 percent). Yet the majority (70 percent) of SMEs are actively recruiting for entry level roles, whether that be graduates (43 percent), further education leavers (36 percent) or school leavers (35 percent).

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How do you make your company culture work for everyone?

How do you make your company culture work for everyone?

Company culture is the bedrock of any business. And it has been thrown into sharp focus in recent months with many high-profile scandals hitting the headlines such as the discrimination case at Uber. In light of this, many businesses are now investing in – even living and breathing – their company culture. This is of course, great news for employees. Shouting about how your company culture is like being part of a family and how everyone mucks in together may have swayed a new recruits’ decision during their interview. However, have you stopped to think how accessible your culture will be to new team members? Close-knit can often translate to the ‘in-crowd’ and office politics can get in the way of a pleasant working environment if the culture is too close.

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New analysis sets out to define fastest growing sectors in London in 2018

New analysis sets out to define fastest growing sectors in London in 2018

A new analysis from Instant Offices sets out to identify the largest business sectors driving London’s economy. It claims that the three most prominent are information and communication, financial and insurance, and professional, scientific and technical services. The UK Business Register and Employment Survey (BRES) showed distinct trends in growth for specific sectors, in London and in the UK as a whole.

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Extending reporting requirements may help close gender pay gap say MPs

Extending reporting requirements may help close gender pay gap say MPs

Extend reporting requirements to help close gender pay gap say MPs

Employers should be required to publish a narrative and action plan under Gender Pay Gap reporting requirements, the inquiry on executive pay and the gender-pay gap by the Business, Energy and Industrial Strategy (BEIS) Select Committee has recommended today. It has found that the requirements to publish data which came into force in April this year represents a ‘small but welcome step towards ensuring that women can make their fullest possible contribution in the workplace and to the economy’, but it calls for the Government to be more ambitious. Detailed statistics should be provided to aid analysis and organisations should explain what they are doing to tackle their gender pay gaps. Under the new rules employers would have to provide some narrative reporting alongside their gender pay statistics, with an action plan setting out how pay gaps are being and will be addressed, including objectives and targets. Subsequent reports would include progress against this action plan, including targets set. More →

Treating employees as workplace consumers could help improve productivity

Treating employees as workplace consumers could help improve productivity

Treat employees as workplace consumers to help improve productivity says reportEmployers need to recognise the workplace as integral to delivering a business’ commercial strategy, and treat employees as ‘workplace consumers’ – creating ‘frictionless’ experiences and environments that help them perform to their best ability. This is according to a report: ‘Optimising performance: defining, designing, maintaining and evolving workplace experiences’ from Interserve, undertaken in partnership with Advanced Workplace Associates (AWA). The two-year study into the science behind effective working environments argues there is a need to radically re-envisage workplaces to optimise team productivity and maximise the value of physical working environments. It sets out a series of critical steps for knowledge-based businesses to revolutionise the workplace – and thereby aid employee performance. The report argues that traditional silos, from IT and HR to facilities, need to be broken down to integrate the management of the workplace as part of a ‘one-team’ approach; doing so will ensure companies can deliver a streamlined workplace experience which supports employee productivity.

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Barclays to create up to 2,500 jobs at new Glasgow tech hub

Barclays to create up to 2,500 jobs at new Glasgow tech hub

Barclays has announced plans to develop a new campus at Buchanan Wharf, Glasgow, which will provide what it claims is a state-of-the-art workplace for the bank’s functions, technology and operations teams. The aim is to create a working environment that will ‘help the bank deliver outstanding services to customers and clients by fostering innovation and collaboration’.  Barclays has agreed to purchase the campus development from Drum Property Group Ltd and is currently working with them to finalise the design of the new facility as part of the wider Buchanan Wharf development. It is expected that, once completed, the campus will be able to accommodate up to 2,500 additional roles, doubling Barclays’ current workforce in Scotland and making the bank one of Glasgow’s biggest commercial employers.

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When it comes to change management, culture sometimes eats strategy for breakfast

When it comes to change management, culture sometimes eats strategy for breakfast

21st Century organisations are under constant pressure to evolve. They are beset by a number of forces that demand they change constantly. These include the need to restructure the organisation, adapt to new technologies, respond to competitors and changes in the economy and legislative environment. Inevitably, this constant need to change affects both people and the built environment in very profound ways. However, according to a study of Culture and Change Management published by the Katzenbach Center, only around half of all transformation initiatives meet their objects over time. Among the biggest obstacles to successful change management cited by the study is change fatigue, which is characterised by a lack of empathy and a widespread failure to engage with the change process.

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Artificial intelligence will create more jobs than it displaces, claims new study

Artificial intelligence will create more jobs than it displaces, claims new study

Artificial Intelligence (AI) and related technologies are projected to create as many jobs as they displace in the UK over the next 20 years, according to new analysis by PwC. In absolute terms, around 7 million existing jobs could be displaced, but around 7.2 million could be created, giving the UK a small net jobs boost of around 0.2 million. While the overall net effect of AI on UK jobs may be broadly neutral, this varies significantly across industry sectors. The most positive effect of AI is seen in the health and social work sector, where PwC estimates that employment could increase by nearly 1 million, equivalent to around 20 percent of existing jobs in the sector. On the other hand, PwC estimates the number of jobs in the manufacturing sector could be reduced by around 25 percent, representing a net loss of nearly 700,000 jobs.

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Avenue HQ is named as Coworking Space of the Year by IPSE

Avenue HQ is named as Coworking Space of the Year by IPSE

Liverpool’s Avenue HQ has been crowned ‘National Co-Working Space of the Year’ by The Association of Independent Professionals and the Self-Employed (IPSE). The award claims to ‘recognise and celebrate the important role coworking spaces play in creating a nurturing, inclusive and stimulating environment for the UK’s 4.8 million-strong self-employed workforce’. The coworking industry is booming globally as companies of all sizes recognise the importance of working environment on employee and business performance. Pioneered by start-ups, entrepreneurs and freelancers, a growing number of companies, large and small, are incorporating the concept and rapidly reaping the benefits.

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Quarter of British workers have a side hustle as well as their main job

Quarter of British workers have a side hustle as well as their main job

Academics at Henley Business School have revealed a growing trend in ‘side hustles’ which shows that as many as 1 in 4 people in the UK are running at least one business project alongside their main day job, contributing an estimated £72 billion to the UK economy. Henley has published a white paper on the emerging side hustle economy. Its study of over 500 business leaders and 1,100 UK adults found the trend is now happening at an unprecedented pace across the UK.  A side hustle is defined as a secondary business or job that brings in, or has potential to bring in, extra income. 73 of people who start a side hustle do so to follow a passion or explore a new challenge, but there are financial benefits too, with side businesses contributing 20 percent to side hustlers’ income.

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Call for action within the built environment to help meet sustainable development goals

Call for action within the built environment to help meet sustainable development goals

Call for action within the built environment to help meet sustainable development goalsBuilt environment organisations are calling for urgent action on issues such as consumption, innovation and infrastructure to prevent the UK slipping behind other nations on poverty, equality and the environment as a new report released today (3 July 2018) highlights the UK’s inadequate performance against the United Nations Sustainable Development Goals (SDGs), including those for the built environment. The report, Measuring up, from the UK Stakeholders for Sustainable Development (UKSSD), is the first comprehensive assessment of the UK’s performance against all 17 SDGs and highlights a significant danger that quality of life in the UK will worsen if action is not taken. Just some of the findings of the report include; that the UK is performing well (green) on only 24 percent of its targets; no industry, innovation and infrastructure targets have achieved a ‘good’ performance rating, with gaps in policy coverage and inadequate or deteriorating performance and large scale, sustained investment in replacing ageing infrastructure and creating additional resilient and low carbon infrastructure of all kinds is required.

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