Search Results for: economy

Organisations need to create a ‘smart everywhere’ environment finds Smart Summit

Organisations need to create a ‘smart everywhere’ environment finds Smart Summit

by • Events, Facilities management, Flexible working, News, Workplace

Organisations need to create a ‘smart everywhere’ environment finds Smart SummitWork is no longer a place but a set of activities which lead to a set of outcomes that could be delivered anywhere. Or as John Blackwell, Quora Consulting’s Managing Director succinctly described it at the first of the 2018 Quora Smartworking Summit’s held last week, organisations need to create a ‘smart everywhere’ environment. New digital platforms make far it easier for people to work in exactly the way they want.  Research by Quora has revealed that there are 5 million people currently working in the UK gig economy or around 15.6 percent of the total workforce. More people are working post retirement age and want to work in a way that they can control, while there are increasing numbers who simply want more autonomy in their lives in the way that self-employment can offer. (more…)

About time we simply accepted that coworking and flexible working are the new normal

About time we simply accepted that coworking and flexible working are the new normal

by • Comment, Coworking, Flexible working, Workplace design

Ask someone to list innovative companies which have become notable disruptors in their market and they invariably respond with two names – Uber and Airbnb. That is because both brands are positioned squarely and successfully at the retail consumer: for people who use a taxi or take an occasional short break in a foreign city, they have become the automatic default options. But there is another equally successful business targeting the corporate space, aimed particularly at small businesses and millennial tech start-ups: WeWork. Just like Uber and Airbnb, it is less than a decade old. In that time, WeWork’s ambition of being the world’s leading coworking company has been realised. Championing itself as a disruption revolutionary, it has succeeded more prosaically by ‘creating environments that increase productivity, innovation, and collaboration,’ according to its website. WeWork’s model involves renting office space cheaply via long-term lease contracts. Small units are then re-rented at higher rates to start up companies which are happy to pay a premium because they need very little space.

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Automation will lead to greater inequality rather than job losses

Automation will lead to greater inequality rather than job losses

by • AI, News, Technology

The total level of wages associated with jobs that have the technical potential to be automated in the UK is £290 billion per year, which represents 33 percent of all wages and earnings from labour in the economy, according to a new report published by IPPR  for the IPPR Commission on Economic Justice. The report further claims that low-wage jobs have more potential to be automated than high-wage jobs and so it’s not just automation’s impact on the number of jobs that need to be considered but the impact on inequality. If automation leads to lower average wages or working hours, or loss of jobs in aggregate, a significant amount of national income could be transferred from wages to profits. And while increased automation of activities will replace some workers and labour earnings, employment and wages will rise in other areas of the labour market due to higher output and productivity, offsetting some of the original £290 billion lost but increasing pay inequality.

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Employment law is out of step with flexible work and the changing workplace

Employment law is out of step with flexible work and the changing workplace

by • Comment, Flexible working, Legal news, Workplace

Anyone who works in employment law or HR is certainly living through interesting times. With the removal of employment tribunal fees, litigation over the correct calculation of holiday pay and Brexit planning there is much to keep us busy. In addition, In addition, the impending GDPR is highly topical.  However, for me, the most intellectually stimulating but also practically difficult area to advise on often remains employment status. Put simply, the law is out of date. Legislation drafted in the 1990s, and to some extent based on cases from much earlier, simply does not cut it in an increasingly flexible and developing work place.

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Report identifies hundred greenest cities in the world (and not one is in the UK)

Report identifies hundred greenest cities in the world (and not one is in the UK)

by • Cities, Environment, News

A new report claims that there are now over 100 greenest cities worldwide who derive at least 70 percent of their electricity from renewable sources. The report from CDP claims that 40 of these now generate all of their energy in this way, including Basel and Reykjavik. No UK cities appear on the list although over 80 UK towns and cities have committed themselves to run on 100 percent clean energy by 2050, according to local government campaign group UK100.

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Report outlines the impact of universities on regional economies and entrepreneurship

Report outlines the impact of universities on regional economies and entrepreneurship

by • News, Public Sector

Although universities contribute to one in every hundred new business births in the UK, but 35 percent of universities did not contribute to the production of a single graduate start-up last year, according to a new report from Localis. It claims that while there are pockets of excellence in the way universities support enterprise and entrepreneurship across the country, too many of them are doing too little. Published in partnership with University College London (UCL) and the University of Huddersfield (UoH), the report explores what more can be done to encourage university entrepreneurial activity and its role in local economies.

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Diversity shown to help drive business performance but discrimination is still widespread

Diversity shown to help drive business performance but discrimination is still widespread

by • News, Workplace

Diversity shown to help drive business performance but discrimination is still widespread

The economic cost of workplace discrimination to the UK Economy is £127 billion a year, claims new research.  Of the £127 billion, £123 billion is due to gender discrimination, £2.6 billion as a result of discrimination against ethnic minorities and £2 billion due to discrimination as a result of sexual orientation. These are the claims of a new report commissioned by INvolve, a membership organisation that champions holistic diversity and inclusion in the workplace, and Cebr, an economics consultancy which analysed over 500 workplaces uncovered a significant positive correlation between diversity and financial performance.

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The UK needs a new approach to low pay, equality and flexible working

The UK needs a new approach to low pay, equality and flexible working

by • News, Workplace

A new research paper from the Institute for Employment Studies (IES) claims to identify areas where employers and policymakers should act to reinvigorate their pay and rewards practices to improve employee engagement and productivity. According to the IES, with the likely intensification of current recruitment shortages, skills gaps and the fall in living standards as the UK leaves the European Union, the paper argues that both employers and policymakers should act on three key areas – low pay, gender pay and total rewards – to help halt the relative decline of the UK’s already below-par productivity performance.

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Report calls for better understanding of the future risks of tech to workplace wellbeing

Report calls for better understanding of the future risks of tech to workplace wellbeing

by • AI, News, Technology, Wellbeing, Workplace

Better understanding needed of the future risks of work to health, safety and wellbeingIn a workplace dominated by insecurity, gig work and intelligent machines we need to improve our understanding of their potential impact on health, safety and wellbeing claims a new report. Future risk: Impact of work on employee health, safety and wellbeing, commissioned by the British Safety Council from RobertsonCooper researchers argues that the public debate on the future of work has centred so far on the likely shape of the workplace and its implications for both employers and employees. There has been far less focus on what this might mean for workers’ health, safety and wellbeing, with discussions centring on the present, rather than preparing us for the challenges of the future. Yet, the impact of automation on the workplace will be more fundamental than is commonly understood, with 11 million jobs predicted to be lost in the next 20 years in the UK. As we are already seeing with some ‘gig’ working, it may undermine such basic human needs as social identity, economic security and a sense of belonging. The report reviews the existing literature on this subject and makes a number of recommendations.

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Report calls for greater equality and opportunities for over 50s in the workplace

Report calls for greater equality and opportunities for over 50s in the workplace

by • Flexible working, News, Workplace

Report calls for greater equality and opportunities for over 50s in the workplaceA new report a new report by the Centre for Ageing Better has called for government and employers to support older workers to stay in work for longer, help those who have fallen out of work involuntarily to return and to create workplaces that work for all, irrespective of age. The report claims that ensuring older workers are able to stay in good quality employment is essential to the future of the UK economy and will relieve pressure on public finances. It makes some key recommendations that include access to flexible working hours and workplace adaptations to help people manage pressures such as caring responsibilities and health conditions, which become more prevalent with age. It also calls for equality of opportunities in the workplace as older workers in the UK experience age discrimination in recruitment and progression. They are less likely to be offered opportunities for development – across the whole of the OECD only Turkey and Slovenia have lower levels of on-the-job training for older workers than the UK. Research shows they are also the most likely to be stuck on low pay and feel most insecure about their jobs.

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Built environment needs to address the talent gap to make the digital transition says WEF

Built environment needs to address the talent gap to make the digital transition says WEF

by • AI, Architecture, Facilities management, News, Technology, Workplace

Built environment needs to address the talent gap to make digital transition says WEFThe construction industry needs new talent and skills to help in the adoption of new technologies to meet the challenges of digital transformation. It must also become more diverse, including increasing the percentage of women in the industry. These are the recommendations of a new report from the World Economic Forum, developed in collaboration with The Boston Consulting Group (BCG), Shaping the Future of Construction: An Action Plan to solve the Industry’s Talent Gap. The report argues that the Infrastructure and Urban Development (IU) industry has failed to innovate as quickly as other sectors, resulting in stagnating productivity and negative effects on the economy, society and the environment. An ongoing industry-wide shortage of qualified workers is among the key reasons for this issue. It has undermined project management and execution, adversely affecting cost, timelines and quality. It also has impeded the adoption of new digital technologies, such as building information modelling (BIM), automated equipment and cloud-based collaboration tools, which could improve productivity. The report provides twelve key actions which needs to be implemented to close the structural talent gap of the construction industry.

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The key to tackling future economic challenges is to harness the ageing workforce

The key to tackling future economic challenges is to harness the ageing workforce

by • News, Workplace

Providing American seniors with better work incentives and opportunities will be crucial for the United States to meet the challenges of its rapidly ageing population. By 2028, more than one in five Americans will be aged 65 and over, up from fewer than one in six today, according to a new OECD report. Working Better with Age and Fighting Unequal Ageing in the United States finds that employment rates among older workers in the United States are above the average across OECD countries. In 2016, 62 percent of all 55-64 year olds were employed compared with the OECD average of 59 percent. However, employment rates are much lower among the ageing workforce. Early retirement is prevalent among workers from vulnerable socio-economic backgrounds, often occurring as soon as Social Security benefits become available at age 62. Poverty among seniors is a challenge: more than 20 percent of peopled aged 65 and over have incomes below the relative poverty line – defined as half of the median disposable household income – compared with the OECD average of less than 13 percent.

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