Search Results for: older

US employers turn to perks and office design to increase employee retention

US employers turn to perks and office design to increase employee retention 0

by • Flexible working, News, Technology, Workplace design

Younger workers are less and less loyal to employers, which is driving firms to place greater emphasis on benefits, empowerment and a better working environment, according to a study from ReportLinker. The small scale online study of 500 people found that Millennials are less likely than older generations to say they’re highly committed to their employer, with just 40 percent saying they somewhat agree with this statement compared to 66 percent of older workers say they’re highly committed to their organisation. The report concludes that this is encouraging employers to introduce new ways of winning the loyalty of employees. For example, 87 percent of employees who are more involved in decision-making are also more likely to say they are committed to their employers although, as always, we should be wary of the distinction between correlation and causation.

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Digitisation of workplace boosts earning powers in creative and design sector

Digitisation of workplace boosts earning powers in creative and design sector 0

by • Flexible working, News, Technology, Workplace

Digitisation of workplace boasts earning powers in creative and design sector

The rise of the gig economy and social media platforms have pushed creative and design jobs up the salary ranks, according to the latest UK Job Market Report from Adzuna.co.uk. In January, average salaries in this sector saw an annual increase of 2.2 percent to £31,828, with its popularity being driven by factors such as the new digital age coupled with the expertise of graduates who step into the jobs market with a fresh outlook on social media channels such as Snapchat and Instagram, which are highly valuable to employees. Across the job market, the employment rate stands at 74.6 percent, the highest since comparable records began in 1971 according to the ONS. This has been helped by a record proportion of women in work, with so-called ‘returnships’ – a type of later-life work experience helping older people, predominantly women back into the workplace – boosting the figures. Immigration may have tailed off in the wake of Brexit, but this also previously helped stimulate the jobs market.

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Almost half of over 55s will work past retirement age, but need bosses support

Almost half of over 55s will work past retirement age, but need bosses support 0

by • Flexible working, News, Wellbeing, Workplace

 

A majority of older workers (55+) in the UK are bracing themselves to continue working until they are 70 years old, but three quarters of employees don’t think employers are doing enough to support them, according to new research by the CIPD. In a survey of more than 1,600 UK employees, more than a third (37 percent) believed that they will have to work past the widely accepted retirement age of 65, a figure which jumps to 49 percent among workers over 55 years old. Among those who predict they will work past 65, the average age they expect to actually retire is 70. The most common reasons for employees wanting to work past 65 the belief it will keep them mentally fit (32 percent), followed by a desire to be able to earn enough money to continue to enjoy themselves. However, the research has also found that many employers aren’t doing enough to support older workers in the workplace. Just one in four (25 percent) employees believe that their employer is prepared to meet the needs of workers aged 65 and over, demonstrating how much work organisations need to do in order to prepare for the increased numbers of older workers in the workplace.

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MPs criticise the Government’s response to gender pay gap recommendations

MPs criticise the Government’s response to gender pay gap recommendations 0

by • Flexible working, Legal news, News, Workplace

MPs criticise the Government's response to gender pay gap recommendations

If the Government will fail to achieve its goal of eliminating the gender pay gap in a generation if it continues to ignore the evidence which it is being given, a cross-party committee of MPs has said. The Women and Equalities Committee is disappointed with the Government’s response to a series of recommendations it put forward last March, which it says shows that the Government is not effectively tackling the structural causes of the gender pay gap. While the Government’s recognises the business case for reducing the gender pay gap and acknowledges structural factors contributing to the pay gap, including women doing jobs for which they are overqualified, concentration in part-time work, and being penalised for taking time out of work to raise children; it rejects most of the Committee’s seventeen evidence-based recommendations for addressing these issues. Instead it highlights gender pay gap reporting, as “key to accelerating progress,” and maintains that current policies on Shared Parental Leave, flexible working, and supporting women back into work are adequate.

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Executive pay should be linked to health and safety performance, claims industry body

Executive pay should be linked to health and safety performance, claims industry body 0

by • Facilities management, News, Workplace

Leaders would have and even greater incentive to improve health and safety if their performance was more transparent and executive pay and bonuses were linked to it, suggests the Institution of Occupational Safety and Health (IOSH). This is one of nine summary recommendations made by IOSH in its response to the UK Government’s Corporate Governance Reform Green Paper proposals, which follow public concern about serious failures, such as those at Sports Direct. IOSH agrees with the Prime Minister’s views, expressed in her foreword to the green paper published last November, where she said: “…big business must earn and keep the trust and confidence of their customers, employees and the wider public”. The suggestions IOSH makes contribute constructively to those aims.

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CIPD calls for more ethical approaches to pay and reward

CIPD calls for more ethical approaches to pay and reward 0

by • Legal news, News, Workplace

CIPD criticises 'fat cats' and calls for more ethical approaches to pay and rewardThe CIPD and the High Pay Centre have launched a formal partnership to advocate fairer and more ethical approaches to pay and reward. Together they are calling for a major re-think of corporate governance to improve CEO pay transparency and ensure boards recognise their broader responsibility towards the workforce when decisions on executive pay and business investment are made. In their joint response to the Government’s green paper on corporate governance, which seeks views on how to curb excessive CEO pay and boost employee voice at board level, the CIPD and High Pay Centre point out that if FTSE 100 CEO pay continues to increase at the same rate for the next 20 years as it has for the last two decades, the average ratio between a CEO and average pay would increase from about 129:1 to more than 400:1. The CIPD chief executive Peter Cheese argues in the report that current levels of executive pay undermine both trust and sustainability and making small adjustments to current system isn’t the right approach.

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Level of wellbeing higher for those who ‘wind-down’ into retirement

Level of wellbeing higher for those who ‘wind-down’ into retirement 0

by • Flexible working, News, Wellbeing, Workplace

New research into the effect of retirement on wellbeing commissioned by The What Works Centre for Wellbeing claims that those who gradually reduce their working time with more flexible hours improve their levels of wellbeing. The study looked at all existing research and found that part-time working towards the end of our careers improves life satisfaction. It advises that employers should support older workers to ‘wind-down’ into retirement with bridging jobs or reduce their working hours to avoid poor wellbeing, a new international study reveals. However, the research highlights that this depends on whether employees had control over when they retired, rather than being forced out through ill health or restructuring. If people take up bridging jobs because of financial strain, their wellbeing drops. Even after accounting for income and health, wellbeing is higher for those who have control over the timing or plan for their retirement, and voluntary retirees derive greater pleasure from free time in retirement. On the contrary, wellbeing is lower for those who are involuntarily retired, especially due to health reasons.

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Brexit impact on UK’s future workforce size could undermine productivity

Brexit impact on UK’s future workforce size could undermine productivity 0

by • Knowledge, Legal news, News, Technology, Workplace

With the UK facing at best, very slow growth, or even shrinkage, of the working population, future changes to migration levels into the UK due to Brexit could exacerbate the financial stresses and strains caused by the UK’s aging workforce. This is according to the Mercer Workforce Monitor™ which claims that companies will need to invest heavily in automation, sectors of society historically under-represented in the workforce and look at ways of increasing productivity. According to the analysis, since 2013, the levels of EU and non-EU born immigration into the UK workforce has filled a gap left by the aging of the nation’s UK-born workforce which sees more in this group leave the workforce – through retirement, emigration or death – than enter it. National growth is closely linked to workforce growth; so reducing its future size would create major headwinds for the UK economy and since another 3.4 million people will reach the age of 65 in 2030; unless the UK decides to make drastic changes to the funding of pensions, health and social care, this smaller working population will be required to proportionally spend more of their income to care for their older citizens.

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The office of the future should be defined by the age of its inhabitants. But not in the way you think

The office of the future should be defined by the age of its inhabitants. But not in the way you think 0

by • Flexible working, News, Workplace design

The office of the future is most commonly seen as the habitat of Millennials. But there are all sorts of flaws in this assumption. Apart from the casual stereotyping of a diverse demographic of people, the most glaring is the fact that the workforce is ageing rather than getting younger, and that most offices must now meet the needs of a wider range of age groups than at any time in their history. A new report from Totaljobs seeks to redress the balance in this regard. It suggests that some of the key features of the office of the future will not be slides and ping pong tables but flexible working areas, quiet spaces, spas and private medical rooms. The study claims that the fixation with Millennials means that a large number of older workers now feel that the design of offices does not meet their needs.

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One in five working millennials in the UK have two or more jobs

One in five working millennials in the UK have two or more jobs 0

by • Flexible working, News, Workplace

New research from recruitment app Coople, claims that British millennials are a generation of career jugglers, seeking ‘varied lifestyles and accelerated multi-skilled growth’. The survey of 2,000 employed millennials in the UK, carried out by OnePoll, claims that there is a growing “slash culture”, in which workers take on more than one job simultaneously. The new statistics claim that one in five (19 per cent) employed young people have two or more jobs, more than any other generation. Some of the main reasons cited by millennials for taking on multiple roles include to learn new skills (47 per cent) and for variety and experience (27 per cent). By comparison, older generations put more onus on increased earnings when stating their purpose for working within multiple roles. The study also claims one in three millennials (29 per cent) plan on changing industry within the next two years, 13 per cent intend to change industries within the next year and 45 per cent will be looking to move within three years.

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Millennials more tuned-in to discrimination at work than other generations

Millennials more tuned-in to discrimination at work than other generations 0

by • Legal news, News, Wellbeing, Workplace

Millennials have widely divergent experiences and attitudes toward diversity and inclusion within the workplace than older generations, claims a new US-based report. In the research from the Institute for Public Relations (IPR) and Weber Shandwick into the importance that people place on diversity and inclusion (D&I) when considering a new job found that 47 percent of Millennials consider it an important criterion in their job search compared to 33 percent of Gen Xers and 37 percent of Boomers. Nearly six in 10 of all employed Americans (58 percent) report that they see or hear about some form of discrimination and/or bias at their workplace, most frequently racial or ethnic in nature (22 percent). Millennials are significantly more likely than older generations to be attuned to such behaviour at work, and also much more comfortable discussing these issues at work than their older colleagues. The survey also asked respondents why they believe employers emphasise diversity and inclusion in the workplace. All three generations cited “To make it a better place to work” among their top three reasons. Millennials also recognize increased opportunities while reputational benefits and outside pressures are noticed by Gen Xers and Boomers.

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US study projects massive shift to agile working model over the next decade

US study projects massive shift to agile working model over the next decade 0

by • Flexible working, News

agile-working-randstadBy the year 2025, most workers (70 percent) and employers (68 percent) agree a majority of the workforce will be employed in an agile working capacity as contractors, consultants, temporary or freelance staff, according to a study released by Randstad US. The Workplace 2025 report of more than 3,100 workers  and 1,500 HR and c-suite executives across the US found that as early as 2019, as much as 50 percent of the workforce will be comprised of agile workers, as nearly 4 in 10 (39 percent) workers say they are likely to consider shifting to an agile arrangement over the next two-to-three years. The study claims that this movement is fuelling an equally aggressive adoption of new workforce models that tap into both permanent and agile employees to combat staffing shortages, leverage globalisation and fuel greater innovation for organisations.

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