Search Results for: financial

January 29, 2019

Northern English cities bear brunt of government spending cuts

The UK’s cities, and especially those in the North of England have borne nearly three-quarters (74 percent) of all real-terms local government funding cuts in the last decade despite being home to just 54 percent of the population, according to Centre for Cities’ annual Cities Outlook 2019 report – the Centre’s annual health check on UK city economies. This is equivalent to a reduction of £386 per city dweller since 2009/10, compared to £172 per person living elsewhere. Cities Outlook 2019 reveals a clear geographical divide in where cuts to cities have fallen, with the top five worst affected cities all located in the North of England.

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January 28, 2019

Majority of large UK firms to address climate change in annual reporting

by Mark Eltringham • Environment, News

Two-thirds (67 percent) of UK corporations will be disclosing climate change related risks and opportunities in their 2019 annual reporting, according to new figures released by the Carbon Trust. However, fewer than a quarter (23 percent) of companies are expecting to fully report in line with the recommendations of the G20 Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD), released in June 2017. (more…)

January 28, 2019

UK leading the way in digital transformation strategy

by Mark Eltringham • News, Technology

IT consultancy Infosys has released new research, the Infosys Digital Radar 2019, which it claims reveals the digital transformation maturity of businesses around the world in 2018, and what it takes to navigate the next stage of their journey. Its main claim is that to become digitally advanced, organisations need to run multiple digital initiatives at scale at the same time. It suggests that organisations in the UK are now significantly ahead of the global average when it comes to their digital transformation, including countries like the United States and Germany.

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January 25, 2019

The state of the workplace right now? Everywhere and nowhere, baby ⁰

by Paul Carder • Comment, Facilities management, Features, Premium Content, Property, Workplace design

My trade is to ask questions about the workplace then make sense of the answers. That has been a particular challenge with the question, ‘what are offices today?’ What seems clear is that the various actors in the workplace ecosystem look at offices through very different eyes. Urban planning and development professionals still view offices as a distinct category of real estate and most real estate professionals view offices in terms of the delivery of floor space. Some things have changed,however. For some time, the hybrid economy of serviced offices has turned the product into a service. But, in many cases this has simply made the leasing of space simpler and more flexible.

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January 22, 2019

Business leaders lack ethical insight needed to get the best out of AI

by Neil Franklin • News, Technology

Although executives have high expectations for the impact that AI will have on their businesses according to Cognizant’s new report, ‘Making AI Responsible – and Effective, only half of companies have policies and procedures in place to identify and address the ethical considerations of its applications and implementations. The study analyses the responses of almost 1,000 executives across the financial services, technology, healthcare, retail, manufacturing, insurance and media & entertainment industries in Europe and the US. The research suggests that business leaders are positive about the importance and potential benefits of AI. Roughly two- thirds (63 percent) say that AI is extremely or very important to their companies today, and 84 percent expect this will be the case three years from now. Lower costs, increased revenues and the ability to introduce new products or services, or to diversify were cited as the key advantages for the future.

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January 21, 2019

MPs back plan to increase gender diversity in business

by Sara Bean • Legal news, News, Workplace

A majority of MPs have backed a recommendation to increase gender diversity in business by extending the “Women in Finance Charter” to cover all businesses in the UK. The recommendation comes from the professional accountancy body AAT (Association of Accounting Technicians). The Charter asks financial services firms to commit to implement four key industry actions; to have a named senior executive responsible and accountable for gender diversity and inclusion; set internal targets for gender diversity in senior management positions; publish progress annually and ensure the pay of the senior executive team is linked to delivery against these internal targets on gender diversity. (more…)

January 20, 2019

The changing shape of the insurance workplace

by Mark Eltringham • News, Workplace design

HOK’s WorkPlace group has released The New Insurance Workplace (registration required), a report which sets out to examine the forces reshaping the insurance industry and how workplace design can position these companies for success. The report’s concludes that insurance firms take pride in their conservative approach to risk management and traditional business models. They also have high-performance cultures that demand strong results. Yet changing regulations, emerging technologies and increasingly obsolete work processes have left many legacy players with underutilised, outdated office and retail space that hinders their ability to meet the fast-changing expectations of customers.

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January 10, 2019

Overwhelming majority of workers have changing workplace expectations

by Neil Franklin • Flexible working, News

New research from Aon claims that 97 percent of employers agree that employees’ expectations of their experience in the workplace are changing. Aon’s Benefits and Trends Survey 2019 (registration required) suggests that employers are saying that employees’ top priorities now include flexible working hours, agile working, mental health, diversity and inclusion and parental leave. Aon’s Benefits and Trends Survey, now in its ninth year, is formed from the responses of over 200 employers of all sizes, including those with fewer than 100 employees to many thousands, who work across a broad range of sectors, with 75 percent of them working internationally. This year, a number of new questions were introduced, including changing workforce demographics, to support employer benefit strategies and provide industry analysis.

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January 4, 2019

CIPD highlights gap between ‘fat cat’ top earners and the rest of the workforce

by Sara Bean • News, Workplace

Just three days into the New Year, today (Friday 4 January), the UK’s top bosses will have made more than a typical full-time worker will earn in the entire year, according to calculations from independent think tank the High Pay Centre and the CIPD. The average (median) full-time worker in the UK earns a gross annual salary of £29,574, while the average FTSE 100 CEO, on an average (median) pay packet of £3.9 million, only needs to work until 1pm on Friday 4 January 2019 to earn the same amount. The £3.9 million figure was calculated by the CIPD and the High Pay Centre in their 2018 analysis of top pay and it marks an 11% increase on the £3.5 million figure reported in their 2017 analysis. The pay increase means that FTSE 100 CEOs, working an average 12-hour day, will only need to work for 29 hours in 2019 to earn the average worker’s annual salary, two hours fewer than in 2018.

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December 20, 2018

Cyber security fears as employees and ex staff able to access sensitive company data

by Sara Bean • AI, News, Technology, Workplace

Cyber security fears as office workers given unfettered access to sensitive company data Huge numbers of employees have or have had access to mission critical company systems which should be reserved only for staff that require it, claims a new study by CyberArk. Specifically, it found that almost half (48 percent) of employees have or have had access to sensitive financial documents; 46 percent to confidential HR information; nearly a third (29 percent) have or have had direct access to company bank account and over a third (37 percent) access to research and development plans or blueprints for new products/services. Credential theft remains the most common and effective route to a successful cyber-attack.

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December 14, 2018

Bruntwood launches design now, pay later service for occupiers

by Neil Franklin • Company news, Property, Workplace design

Property and flexible office firm Bruntwood has launched ‘Made & Managed’ which it claims is a service enabling occupiers to benefit from a ‘design now, pay later’ approach to designing and creating bespoke offices. The service is based around the idea that tenants absorb design and fit-out costs into a monthly bill, meaning no upfront costs.

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December 13, 2018

The scale and complexity of public sector procurement makes a change of direction difficult

by Mark Eltringham • News

A new report from the Institute for Government claims that the British government spends around £284bn – almost one-third of its total expenditure – with external suppliers. Given its scale, public sector procurement could not easily be abandoned even if politicians wanted, the report concludes. It says that four departments spent more than half of their entire budgets with external suppliers last year. It also finds that the largest suppliers are winning more and more government business.