Search Results for: pay ratio

February 12, 2018

Business leaders increasingly optimistic about benefits of artificial intelligence in the workplace

Executives at major organisations increasingly believe that pairing humans alongside machine intelligence will create a more effective, engaged, and meritocratic workplace, according to a new study released by software provider Pegasystems Inc (registration required). The authors surveyed 845 senior executives working globally across industry sectors including financial services, insurance, manufacturing, retail, telecommunications and media, and government, on the increased role of automation and artificial intelligence in the workplace of the future. The potential impact in the workplace seems to outweigh any lingering fears, the report claims. Around 69 percent of of respondents say “workforce” will refer to both humans and machine intelligence in the future. Nearly three-quarters of executives said using machines to augment human abilities would lead to increased efficiency. Over 60 percent said it could be used to improve customer service.

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February 7, 2018

Extension of rights for gig economy workers are broadly welcomed

by Mark Eltringham • Flexible working, News

The government is to give so-called gig economy workers new rights including holiday and sick pay for the first time. Its new Good Work plan is a direct response to last year’s Taylor Review which recommended changes in conditions to reflect modern working practices and extend the rights of workers in the new economy. The government has said it will proceed with almost all the review’s recommendations including giving zero-hour and agency workers the right to request a more stable contract.

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January 30, 2018

Harnessing serendipity in the workplace is about more than facilitating the unexpected

by Ilkka Kakko • Comment, Technology, Workplace design

What if your company had a great and more frequent ability to discover more valuable things than those for which it were usually looking? How would you then begin to describe your company’s overall level of awareness and sagacity? Does it make your company ’feel lucky’? Inspiring questions and understanding serendipity might give some answers to these and other questions. One of the challenges in answering them lies in the nebulous idea of serendipity in the first place. In many respects the idea of serendipity carries with it a mystical undercurrent and even researchers do not agree about a precise definition. However, serendipity is never a ’happy accident’, it’s much, much more than that. The key elements in the process of serendipity include: 1) a prepared mind 2) an unexpected event, encounter, result or contradiction 3) insight and 4) value creation. Not only is serendipity a process, but it is also a quality of mind.

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January 26, 2018

Only half of organisations are committed to ensuring employees thrive at work

by Sara Bean • News, Technology, Workplace

Growth and development matter most to employees, followed closely by fair access to opportunities and equity in pay, yet only half (52 percent) of organisations worldwide have committed to help meet these aims claims new research. As advances in technology, like AI and robotics, disrupt industries and redefine value chains, organisations need to distinguish themselves from others in order to prevail. Thriving organisations – those that transform their work environment into a compelling experience – will be first in building the workforce for the future finds Mercer’s newest research, Thriving in an Age of Disruption. It suggests that exceptional organisations transform work into a compelling experience that meets all employees’ needs, unlocks their full potential and enables them to successfully transition into the future workforce. Employees who are energised and bring their authentic selves to work are 45 percent more invested in their role, while a trusting work environment, a feeling of personal accomplishment, faith in senior leadership, clarity around career paths and a strategy that is responsive to external market shifts and societal needs explain 79 percent of employee confidence in the company they work for.
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January 23, 2018

UK in 8th place for global talent competitiveness but gender equality lags behind

by Sara Bean • Cities, Legal news, News, Workplace

The UK has been ranked as the eighth best country in the world for the ability to attract, retain, train and educate skilled workers, but while its ability to leverage diversity for talent competitiveness is boosted by its global knowledge skills – the UK is undermined by its weaker performance on tolerance and gender equality. According to the Global Talent Competitiveness Index GTCI) produced by the Adecco Group, with international business school INSEAD and Tata Communications, the UK has a particularly strong pool of global knowledge skills, a variable for which it is ranked third in the index boosted further by its strong regulatory, market and business landscape. But this is undermined by its internal openness, where it still lags behind, especially when it comes to gender equality. The report also suggests that although Article 50 was triggered in 2017, the ongoing negotiations and continuing lack of clarity over the UK’s position once it leaves the European Union in 2019, means the impact of Brexit is not yet clear.

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January 11, 2018

Culture shift needed to drive a better gender balance in property and construction

by Niki Fuchs • Comment, Property

Despite compelling evidence of the bottom line benefits of gender diversity, too many sectors remain stubbornly male dominated. This is certainly the case with the property and construction industry where women still represent only 15 percent of the workforce. The growth of prop-tech, entrepreneurialism amongst women and a growing emphasis on service, demonstrated by the growth of the flexible office and serviced apartment sectors, which tend to have more balanced gender ratios, is helping to address this balance. However, many women in the industry still do not occupy managerial roles, and so the gender pay gap stubbornly remains. For these imbalances to be addressed a cross-industry, cultural shift needs to occur, and individual companies must work to drive change from the top down.

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January 10, 2018

UK productivity growing at quickest rate for six years

by Mark Eltringham • News

Productivity in Britain is rising at its fastest rate in six years. Output per hour worked rose by 0.9 per cent between July and September of 2017, according to the latest quarterly report from the Office for National Statistics (ONS). This was the biggest increase since 2011, when productivity grew by 1 per cent. The UK has a persistent problem with its productivity. Excluding the UK, G7 GDP per hour worked is 18 per cent higher than in Britain, with productivity in the United States 30 per cent higher, France 31 per cent and Germany 36 per cent. High productivity is considered the key to economic prosperity because it allows companies to produce more goods or services with fewer workers or hours worked. This in turn lets companies pay higher wages without having to raise prices. Many theories have been developed to explain the UK’s chronic low productivity, which are summarised by the Financial Times here (subscription or registration needed).

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December 28, 2017

Automation will benefit the economy but many people could lose out

by Mark Eltringham • AI, News, Technology

Around a third of all jobs in the UK are vulnerable to the introduction of robots, automation and artificial intelligence and the government must intervene to manage the transition and stop new technology driving up wage inequality, a report from the Institute for Public Policy Research (IPPR) claims. Although the report suggests that the tech will have a generally beneficial impact on the economy, it warns that lower-skilled jobs are far more likely to be phased out over the coming decades, and only higher-skilled workers would generally be able to command higher wages.

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December 22, 2017

Five employment law milestones from the past year we need to remember in 2018

by Lucy Gordon • Comment, Workplace

The past twelve months have been an eventful period for employment law; from the uncertainty surrounding Brexit and the rights of EU Nationals working in the UK, to the mounting attention on employee data protection as the GDPR edges ever closer. Issues of Employment Tribunal fees, holiday pay and the gig economy have similarly captivated headlines, and these significant milestones from the past 12 months are set to have a big impact on the challenges facing the sector into 2018. (more…)

December 20, 2017

CIPD predicts tighter labour market and continued poor productivity next year

by Sara Bean • Legal news, News, Workplace

There is little evidence that the pay squeeze will end soon, with only falling inflation likely to lead to meaningful wage increases next year. This is according to a CIPD analysis, which predicts that 2018 will see pay, productivity and migration top the agenda as the UK looks ahead to its exit from the European Union. It adds that the UK workforce could tighten, and with increased constraints on labour supply, 2018 could be the year that the UK finally runs out of people to fill jobs, despite unemployment levels being unlikely to see much change. There are also indications there will be no improvement in productivity, with continued stagnation in UK productivity, which will remain well below pre-crash levels. In the CIPD’s annual labour market predictions, Ian Brinkley, Acting Chief Economist, anticipates a flattening of employment growth and weak pay growth as the UK continues to struggle with its productivity problem.

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December 19, 2017

We need to have an honest conversation about presenteeism

by Steve Brewer • Comment, Flexible working, Workplace design

We have talked before about the risks of over thinking problems. It is not just something that consultants, designers and the workplace intelligentsia are guilty of – everyone does it. It is why we do not switch off when we are ill and still insist on going to work. We over think the consequences of not being in our workplace. Likewise, many traditional line managers simply cannot get their head around their teams working from home. After all, modern management mantras all talk about creating a great atmosphere in which teams all work together – in the same space at the same time? We all tend to over complicate most things and that is one of the main reasons in the UK we struggle with the concept of working from home. A consequence of this is the rise in presenteeism, which is mainly linked to illness, people ignoring how bad they feel and because of a perceived pressure, still turning up for work.

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December 13, 2017

The ups and downs of wearables for workplace health and wellbeing

by Lee Sadd • AI, Comment, Technology

Businesses in the 21st century have tried just about everything to improve productivity. For a long time, Google and its ilk were seen as model workplaces, with their open offices and abundance of ball pits and bean bags. Then the consensus shifted, and the cubicle or workstation was seen as the paradigm for employee concentration. Now the focus has shifted to technology, and the field of ‘wearables’. Devices like the Fitbit, Google Glass and Apple Watch have come and gone with significant consumer buzz, but relatively low uptake. What failed to impress consumers, however, may yet have a place in business. For better or ill, it seems the companies we work for are increasingly obsessed with collecting our data.

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