Search Results for: financial

March 29, 2017

Third of HR professionals say Brexit will impact the profits of their business ⁰

by Sara Bean • Legal news, News, Workplace

Today (29 March) the Prime Minister triggers Article 50 to begin the UK’s exit from the European Union, and a new piece of research claims that almost two thirds (62 percent) of HR professionals expect this to impact their HR strategy and more worryingly, over a third (35 percent) say that the leave vote will impact the profits of their business. According to the research from employee benefits specialist Secondsight, 37 percent have opted not to hire over the coming year, and 39 percent agreed that recruiting the right people into their business will now be more difficult than before the decision to leave was made. However, on a more encouraging note, 95 percent of the HR professionals surveyed will see their budget rise in 2017, and 18 percent plan to introduce new benefits in the year ahead.

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March 28, 2017

Surge in the number of people working into their seventies ⁰

by Neil Franklin • News, Wellbeing, Workplace

The number of British people working past 70 years old has increased markedly over the past four years. Poor pensions, personal choice, greater life expectancy and changes to pension laws have all been highlighted as factors behind the increase in the latest report on demographic trends from the Office of National Statistics (ONS). The largest increase was seen amongst women, with the proportion of women working into their seventies doubling from 5.6 percent in 2012 to 11.3 percent last year. Around 150,000 women over seventy are now thought to be working. Meanwhile, the number of men working past the official state pension age has also increased, but at a slower rate, from 10 percent in 2012 to 15.5 percent last year.

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March 22, 2017

Employers in industries reliant on overseas workers will be hardest hit by Brexit ⁰

by Sara Bean • News, Workplace

Accommodation and food services, manufacturing, and transport industries will be hardest hit by limits on movement of EU and non-EU workers following Brexit, a new report has claimed. The latest edition of Mercer’s Workforce Monitor has highlighted how reliant certain sectors of the UK economy have become on EU-born and non-EU born workers, as respectively, 33 percent, 23 percent and 20 percent of accommodation and food services, manufacturing, and transport are made up of non-UK-born nationals, meaning companies in those sectors, and those reliant on them, are especially at risk from the changes in the UK’s migration policy. According to Gary Simmons, Partner at Mercer, “Since 2013, the UK-born workforce has been declining as people retire and we can see how reliant certain industries are on overseas workers filling the gaps. The UK is likely to impose more stringent migration controls in the future and this will reduce the number of overseas workers available.”

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March 17, 2017

Artificial intelligence to go mainstream in the workplace by 2020, claims report ⁰

by Mark Eltringham • News, Technology

A new report by Tata Consultancy Services claims that 84 per cent of companies worldwide already see artificial intelligence as essential to their competitiveness while half see the technology as ‘transformative’. The study Getting Smarter by the Day: How AI is Elevating the Performance of Global Companies is based on interviews with 835 major businesses worldwide. It focuses on the current and future impact of Artificial Intelligence (AI) and found that the biggest adopters of AI today are, not surprisingly, IT departments, with two-thirds (67 percent) of survey respondents using AI to detect security intrusions, user issues and deliver automation. However, by 2020, almost a third (32 percent) of companies believe AI’s greatest impact will be in sales, marketing or customer service, while one in five (20 percent) see AI’s impact being largest in non-customer facing corporate functions, including finance, strategic planning, corporate development, and HR.

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March 14, 2017

Western European cities ranked high by multinationals on quality of infrastructure ⁰

by Sara Bean • Cities, Facilities management, News, Property, Workplace

City infrastructure plays a key role when multinationals decide where to establish locations abroad and send expatriate workers, claims a new report. Mercer’s 19th annual Quality of Living survey now includes a supplementary question on city infrastructure, as easy access to transportation, reliable electricity, and drinkable water are all important considerations when determining hardship allowances based on differences between a given assignee’s home and host locations. Western European cities hold most of the top ten places in the city infrastructure ranking, with Frankfurt and Munich jointly ranking 2nd worldwide, followed by Copenhagen (4) and Dusseldorf (5). London is in 6th place, and Hamburg and Zurich both rank 9th. However, in terms of quality of living which is ranked separately, Vienna (pictured) occupies first place for overall quality of living for the 8th year running, and despite increased political and financial volatility in Europe, many of its cities offer the world’s highest quality of living and remain attractive destinations for expanding business operations and sending expatriates on assignment. In the UK, London is favoured for its overall quality of living and for its city infrastructure.

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March 8, 2017

In a crowd of truths, we can discern and reclaim what it means to be human ⁰

by Neil Usher • Comment, Facilities management, Technology, Workplace design

This is the second of two responses to an excellent article by Antony Slumbers, the first being this perspective from my mirrored room, in this instance offering that his views offer a far too presumptive picture of how technology will shape our work future. The paragraph headlines are from Antony’s original article. One person’s optimism is another’s pessimism. A decade ago the dream of liberated commute-free teleworking was, to many, the nightmare of enforced seclusion to the soundtrack of the dishwasher. The deployment of robots for the performance of menial tasks creating time and wealth for leisure is another’s horror at the loss of employment and resultant anomic fragmentation and decay. The fatally pointless optimism of Candide’s Dr Pangloss was agnostic in regard to every such outcome. It was positive only because there could be no alternative, and therefore no better alternative.

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March 8, 2017

Staff aged 35 and under have lower levels of health and wellbeing than older workers ⁰

by Sara Bean • News, Wellbeing, Workplace

Employees aged 35 and under lose the highest average amount of productive time due to absenteeism and presenteeism, are the least physically active in the workforce, have a high proportion of smokers and eat the least fruit and vegetables each day. This is according to data from Britain’s Healthiest Workplace (BHW) which claims that these same employees, many of whom entered the workforce following the recent global financial crisis, already suffer from social mobility challenges and tough economic conditions, which is having a considerable impact on their health and wellbeing. Data from BHW shows that high stress levels can have major impacts on employee productivity at work, which in turn has cost implications for the employer. Almost 35 percent of 26-30 year old employees are physically inactive, completing less than 150 minutes of exercise a week, and on top of this nearly 14 percent of this age group smoke. Comparatively, the same data shows that older employees have healthier habits, with 22.5 percent of 56-60 year olds being physically inactive and only a small proportion (6.1 percent) smoking.

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March 7, 2017

Large scale NHS staff survey shows improvements in workplace experience ⁰

by Mark Eltringham • Facilities management, News, Wellbeing, Workplace design

A survey of more than 423,000 NHS staff has shown their experience of the workplace is improving, despite the huge financial pressures and public demand on healthcare in the UK. Responding anonymously to the annual NHS Staff Survey, staff reported small but measurable improvements in 26 of the 32 key workplace categories, including having confidence to raise concerns about clinical practice, feeling supported by managers and recommending their workplace for employment or receiving care. The report is published by the national NHS Staff Survey Co-ordination Centre on behalf of NHS England and was carried out in October and November 2016.

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March 3, 2017

A collection of essays musing on the precarious and uncertain future of work ⁰

by Mark Eltringham • Flexible working, News, Technology

The Institute for Employment Studies (IES) has published its annual collection of articles addressing today’s pressing issues for organisations. In acknowledgement of current turbulent times, the team of researchers and consultants have pulled together existing research and their own insights from working with organisations, offering their reflections on how leaders and HR practitioners can successfully navigate the imminent challenges. The collection, Darkening Skies? IES Perspectives on HR 2017, reflects the current sense of uncertainty around what future awaits. The shift towards new and more precarious forms of work, made possible by the growth in digital platforms and solutions, is a recurring topic appearing in many of the articles. They also explore the possible effects and mitigations of known issues such as the ageing workforce and its associated health implications; the growing need to support employee financial wellbeing; and the dangers of ignoring the employee voice.

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March 3, 2017

Majority of workers ‘working for free’ until 9th March in unpaid overtime ⁰

by Sara Bean • Flexible working, News, Wellbeing, Workplace

The average amount of overtime workers put in equates to around 68 working days a year and the fact that only one third are paid for this means the majority of people are essentially working for free until the 9th of March each year, claims a new study. The research by TotallyMoney.com with OnePoll, which looked into overtime in the UK in 2017 found that unsurprisingly 60 percent of British workers say they don’t have a good work-life balance. Common reasons given for working overtime were pressures from colleague and excessive workloads; with almost 65 percent of people surveyed not being paid for overtime worked. Only a third of British workers say they typically leave work on time; which ties in with recent TUC analysis which revealed that the number of employees working longer hours grew by 15 percent over the last five years. Working longer hours, warns the union, not only has negative impacts on health, but can actually lead to workers being less productive.

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March 1, 2017

Increasing adoption of wellbeing strategies to improve engagement and culture ⁰

by Sara Bean • Flexible working, News, Wellbeing, Workplace

Workplace wellbeing strategies are being implemented by employers at an unprecedented rate, with 45 percent of UK companies now having a clearly-defined wellbeing strategy in place, compared to less than a third (30 percent) in 2016, claims a new report. According to ‘Employee Wellbeing Research 2017: The evolution of workplace wellbeing in the UK’ from Reward & Employee Benefits Association (REBA), in association with Punter Southall Health & Protection, of those that don’t, virtually all plan or wish to implement one – with 46 percent planning on implementing one this year, 24 percent in the next few years and a quarter (25 percent) having it on their ‘wish list’. Over a third (37 percent) launched their wellbeing strategy to improve employee engagement, and just over a quarter (26 percent) to improve organisational culture. Other drivers included improving productivity levels (11 percent), reducing long and short-term sickness absence (6 percent & 5 percent) and retaining talent (5 percent).

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February 28, 2017

Europe’s happiest workers revealed in new report ⁰

by Neil Franklin • News, Wellbeing

Levels of job satisfaction vary significantly across Europe, with Dutch, Polish and Swiss employees being the most satisfied, according to research by HR software firm ADP. The new study of nearly 10,000 European working adults explores how employees across Europe feel about the future of work. According to the research, Dutch, Polish and Swiss employees are the most satisfied, whilst the UK comes joint fifth. In the UK, satisfaction levels also differ greatly across regions; three quarters of those based in the East are satisfied (75 percent), whilst only 59 percent of employees in Northern Ireland are satisfied. In the UK, those working in Architecture, Engineering and Building are the most satisfied (84 percent), whilst IT & Telecoms workers fare well across Europe and the UK. In the UK, those working in financial services are the least satisfied (57 percent) – the lowest level of job satisfaction overall. In contrast, 71 percent of financial services employees in other European countries are satisfied.

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