Search Results for: financial

The world has its say on the Taylor Review into modern working practices

The world has its say on the Taylor Review into modern working practices 0

by • Features, Flexible working, Legal news

Yesterday, the much-awaited Taylor Review into modern working practices was finally published. And by modern working practices, the report focussed primarily on what has become known as the gig economy. People have been speculating about the contents of the report for months and things ramped up last week after a partial leak to the media. So, things were already bubbling under nicely before the actual publication of the document brought things to a boil yesterday. Assuming the government do more than kick the whole thing into the long grass, always a possibility, debate will continue for a while. We’ll let politicians do their thing with it, but here are a few of the initial reactions from interested parties and the experts. (more…)

Taylor Review on Modern Working Practices and the gig economy is published

Taylor Review on Modern Working Practices and the gig economy is published 0

by • Flexible working, Legal news, News, Wellbeing, Workplace

The long awaited UK government commissioned report into modern working practices and the so-called gig economy has been published at last. The Taylor Review was commissioned by the Department for Business, Energy & Industrial Strategy last year and there has been a great deal of speculation regarding its content ever since, especially last week after parts were apparently leaked to the media. You can follow the pile in now on Twitter and the festering pits of ignorance, prejudice and bile known as newspaper comment sections. Or you can read it here before you draw your own conclusions. We’ll be having our say tomorrow and sharing the thoughts of various organisations into its contents. The report was authored by Matthew Taylor, Chief Executive of the RSA and considers the implications of new forms of working, especially with regard to the gig economy and freelance work on worker rights and responsibilities, as well as on employer freedoms and obligations. It sets out seven key principles to address the challenges facing the UK labour market, set out below.

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Serviced and coworking offices top London leasing market for the first time

Serviced and coworking offices top London leasing market for the first time 0

by • Coworking, Flexible working, News, Property

 Serviced and coworking office space providers have accounted for the largest share of space leased in Central London for the first time, according to new research from Cushman & Wakefield. During the first half of 2017, serviced office or co-working providers – such as WeWork and The Office Group – accounted for 884,235 sq ft of newly-leased office space in central London. The second quarter of the year in particular witnessed a dramatic escalation in activity by serviced office and co-working providers with 651,540 sq ft leased – around a quarter of central London’s take-up across April, May and June. This was more than London’s traditionally dominant occupational sub-sectors such as technology, media and financial services. The H1 2017 total is more than serviced office and coworking providers accounted for in the whole of 2016 (853,178 sq ft). and is just a deal or two shy of the sector’s average annual take-up between 2012 and 2016 (908,972). It seems certain therefore that serviced office and co-working providers will this year surpass their record annual volume of 1,267,926 sq ft set in 2014, according to the firm.

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Long commutes are major source of poor health and low productivity

Long commutes are major source of poor health and low productivity 0

by • Flexible working, News, Wellbeing

Long hours spent commuting to work are some of the main causes of poor health and low productivity, according to a large-scale study from the Britain’s Healthiest Workplace index, a joint venture between insurer VitalityHealth, the University of Cambridge, RAND Europe and Mercer. According to the study of more than 34,000 workers, people commuting less than half an hour each day to get to work gain an additional seven days’ worth of productive time each year compared with those with commutes of 60 minutes or more. Longer commutes also appear to have a significant impact on mental wellbeing, with workers who have a long commute 33 percent more likely to suffer from depression, 37 percent more likely to have financial concerns and 12 percent more likely to develop various forms work-related stress. These workers are also 46 percent more likely to get less than the recommended seven hours of sleep each night and 21 percent more likely to be obese. The research suggests that offering flexible working is the best way to mitigate the negative effects of commuting.

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UK remains stuck in stubborn low productivity trap

UK remains stuck in stubborn low productivity trap 0

by • News, Workplace

The persistently low productivity of UK workers has dropped back to pre-financial crisis levels, according to official figures. Hourly output fell 0.5 percent in the first three months of the year, the Office for National Statistics (ONS) reports in its latest update. At the end of 2016, productivity returned to the level seen before the 2008 recession. But it has now slipped back again and is 0.4 percent below the peak recorded at the end of 2007, according to the ONS. It was the first quarterly fall in productivity since the end of 2015, according to the ONS. Economists have consistently warned that the UK’s low productivity continues to mean it lags behind its major trading partners such as the US, France and Germany.

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Digital workplace accelerates blurring of lines between IT, HR and finance roles

Digital workplace accelerates blurring of lines between IT, HR and finance roles 0

by • News, Technology, Workplace

To help ‘organisations thrive in a competitive digital marketplace’, Oracle and the MIT Technology Review have released a new study that highlights the importance of collaboration between finance and human resources (HR) teams with a unified cloud. The study, Finance and HR: The Cloud’s New Power Partnership, outlines how a ‘holistic view into finance and HR information’, delivered via cloud technology, empowers organisations to better manage continuous change in the workplace. Based on a global survey of 700 C-level executives and finance, HR, and IT managers, the study claims that a shared finance and HR cloud system is a critical component of successful transformation initiatives.

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Self-employed would value receiving sick pay above other benefits

Self-employed would value receiving sick pay above other benefits 0

by • Flexible working, News

UK micro-business owners and freelancers would be more interested in receiving sick pay than any other statutory benefit, according to new research carried out in collaboration between cloud accounting software firm FreeAgent and The Freelancer & Contractor Services Association (FCSA). A poll of nearly 900 UK micro-business owners conducted by FreeAgent and FCSA claims that sick pay provision is the benefit that self-employed workers would most welcome, coming way ahead of other benefits such as maternity pay, job seekers allowance and pension auto-enrolment. The survey claims that 76 percent of respondents currently do not have any method of providing sick pay, maternity/paternity leave, holiday or redundancy pay in their business. Projected across the country’s 5.2 million-strong micro-business sector, this potentially equates to millions of people working without the same kind of basic entitlements that employed workers have. Notably, people’s appetites for additional benefits varied depending on the structure of their business with sole traders more likely to value benefits (rating sickness provision 8.7 out of 10) compared to those working through their own limited companies who gave a score of 6.4 out of 10 for sickness provision.

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The onus is on employers to create working conditions that attract people

The onus is on employers to create working conditions that attract people 0

by • Comment, Facilities management, Wellbeing

Staff absenteeism is one of the most costly issues facing employers in the modern workplace. Absenteeism is defined commonly as an unscheduled, deliberate or routine absence from the workplace by employees. According to a new study by the Centre for Economic and Business Research (CEBR), people who regularly take days off are costing the UK economy billions each year, with the toll set to rise considerably over the next decade and potentially rising to £26bn by 2030.  The report also found that mental health issues are affecting 30-40 year olds who have to juggle various things such as home life, financial constraint and pressures from their day jobs and respective careers. Another recent study by AXA PPP healthcare found that over a third of employees living with a mental health condition (39 percent) are not open about it in the workplace. These findings highlight a clear disconnect between how employees are feeling and what their employers understand to be their state of mind.

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Major global study identifies the priorities of students and their most favoured potential employers

Major global study identifies the priorities of students and their most favoured potential employers 0

by • News, Workplace

A new study of 290,000 students worldwide claims that the majority studying business, engineering and IT would prefer to work for medium sized businesses and that they have a very clear idea about the sort of employer they would like to work for. The World’s Most Attractive Employers (WMAE) study from employer branding consultancy Universum Global is now in its 9th year and draws on data from the world’s 12 largest economies to rank the companies students find most desirable for employment. Overall, the majority of students (74 percent) reported that they would prefer to work for a company with fewer than one thousand employees. A larger proportion of talent from Germany, France, and Brazil would prefer to work for larger employers, but overall talent in these markets also said they would prefer to work for smaller firms. For business and engineering / IT students in all countries excluding Russia, India and Germany, work/life balance remains the overall top career goal. Results reveal Russian students in both fields of study still prefer job security, while Indian students in both fields of study are far more interested in having an international career than they are in other career goals.

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Artificial intelligence could add £232 billion to UK GDP by 2030, claims PwC research

Artificial intelligence could add £232 billion to UK GDP by 2030, claims PwC research 0

by • AI, News, Technology

UK GDP could be around 10 percent higher in 2030 as a result of artificial intelligence (AI) – the equivalent of an additional £232 billion, according to new research by PwC. This makes AI the biggest commercial opportunity in today’s fast-changing economy, according to the report’s authors. The research shows that the majority of the UK’s economic gains over the period to 2030 will come from increasing consumer demand resulting from AI driving a greater choice of products, increased personalisation of those products and making them more affordable over time. Labour productivity improvements will also drive GDP gains, but to a lesser extent. PwC’s research notes that the benefits from labour productivity growth will be felt first, with the increased consumption-led benefits from AI-enhanced products coming through later as more of them come onto the market. As this happens, competition within the AI goods market will increase dramatically, leading to future increases in the value of goods to consumers and therefore the amount people spend on them.

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Report sets out costliest cities for mobile workforce of multinationals

Report sets out costliest cities for mobile workforce of multinationals 0

by • News

In a rapidly changing world, mobility has become a core component of companies’ global talent strategy and as a result, multinational organisations are carefully assessing the cost of packages for their international mobile workforce, claims a new report which sets out the costs of living in the world’s major cities. Mercer’s 23rd annual Cost of Living Survey finds that factors like instability of housing markets and inflation for goods and services contribute to the overall cost of doing business in today’s global environment. Mercer’s 2017 Cost of Living Survey finds Asian and European cities – particularly Hong Kong (2), Tokyo (3), Zurich (4), and Singapore (5) – top the list of most expensive cities for expatriates. The costliest city, driven by cost of goods and security, is Luanda (1), the capital of Angola. Other cities appearing in the top 10 of Mercer’s costliest cities for expatriates are Seoul (6), Geneva (7), Shanghai (8), New York City (9), and Bern (10). The world’s least expensive cities for expatriates, according to Mercer’s survey, are Tunis (209), Bishkek (208), and Skopje (206).

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The self employed have to rely on each other as government offers almost no support

The self employed have to rely on each other as government offers almost no support 0

by • Flexible working, News

The self employed are turning to one another for business and financial support, according to new analysis by the RSA think-tank. Commissioned by the Federation of Small Business (FSB) to examine how self-employed workers might manage the risks they face, the RSA report claims that growing numbers of workers are turning to collective sick-pay funds to manage ill health, cash pooling schemes to deal with late payments and micro-loan services to plug gaps in bank finance.  The RSA’s report, The Self Organising Self Employed concludes that, to date, both the state and the market have struggled to keep pace with the rising numbers of the self employed. Although successive governments have been vocal in their admiration of people who strike it out alone, holding up their attributes as ‘self-starters’ and ‘strivers’, this had led to a ‘non-interventionist, hands-off policy agenda, with the self employed broadly left to their own devices’.

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