UK organisations are adopting a conservative approach to salary budgets as workforce stability returns, signalling key shifts in compensation strategies.In 2024, half of UK organisations have reported a decrease in their salary budgets compared to 2023.Companies have observed a reduction in challenges related to attracting and retaining talent, with figures improving from previous years.Despite a forecasted salary budget increase in 2025, organisations are grappling with rising annual payroll expenses.Many employers are adjusting compensation strategies, focusing on diversity, equity, and inclusion to enhance employee satisfaction.UK organisations are increasingly conservative in their salary budgets due to stabilising employee bases. In 2024, 49%…
Author: Dave Antrobus
Recent data reveals significant growth in the UK’s funeral sector with a 28% rise in funeral directors.An ageing population, with nearly one in five over 65, contributes to the growing demand for funeral services.The increase from 4,015 to 5,125 directors in a decade highlights this expanding industry.Despite growth, a lack of statutory regulation means anyone can become a funeral director.Voluntary memberships exist, yet some firms operate without any oversight.The United Kingdom’s funeral industry has seen considerable growth over the past decade, marked by a 28% increase in the number of funeral directors. This expansion is closely linked to the ageing…
A recent study highlights significant financial concerns among workers.40% of those surveyed worry about inadequate savings for unforeseen expenses.38% fear their future savings will be insufficient.34% are anxious about meeting basic living costs like rent and bills.29% are troubled by existing debt levels.According to a recent survey by WEALTH at work involving over two thousand employees, a significant 40% are worried about not having enough savings to cover unexpected costs. This concern is part of a broader financial anxiety picture, with many struggling to manage their living expenses, future savings, and debt levels.The survey further indicates that 38% of workers…
Frasers Group has achieved a notable increase in profit despite a decline in overall revenue, marking a significant year for the company.Despite a 0.9% year-on-year dip in group revenue to £5.53bn, the Frasers Group reported a 13.1% rise in adjusted profit before tax to £544.8m.The company’s retail revenue faced a decrease, yet property revenue soared by over 100%, highlighting diverse business operations.The UK Sports Retail arm saw a revenue fall, though international ventures experienced growth, driven by acquisitions and strategic expansion.CEO Michael Murray praised the strong brand partnerships and operational investments that have set the foundation for future growth.Despite experiencing…
Tala, an activewear brand, announces a £5m investment for its US market expansion, signalling a new chapter in its growth journey.The investment from Pembroke VCT, Venrex, and Active Partners highlights confidence in Tala’s innovative market approach.Tala plans to enhance its infrastructure and explore physical retail opportunities with this capital.CEO Grace Beverley expresses excitement for the brand’s future, focusing on women-centric product offerings.Pembroke CEO, Andrew Wolfson, sees this as an opportunity to strengthen Tala’s position in the global athleisure market.Tala, a burgeoning activewear brand, has proudly announced securing a £5m investment aimed at driving its expansion into the US market. This…
King Charles recently articulated the Labour government’s strategic agenda for fostering economic advancement in the upcoming year, highlighting pivotal reforms and initiatives.A core emphasis of the agenda is to stimulate economic progress through strategic investments in industrial sectors, skills enhancement, and adoption of new technologies.Key legislative measures are anticipated to empower the police with augmented capabilities to address anti-social activities and to bolster public security against threats.The Labour manifesto underscores the creation of a specific offence aimed at protecting retail workers from increasing crime, although this was not explicitly addressed by the King.The government is committed to reshaping its relationship…
Building a business is both rewarding and deeply personal, yet unpredictable events can pose significant risks. Thankfully, business protection insurance offers a safety net.This insurance covers various policies like property, liability, and cyber insurance, ensuring that businesses can maintain operations despite unforeseen challenges.Business protection insurance is vital as it safeguards against events like the death or disability of a key employee, offering financial stability.It includes benefits such as improved financial stability, talent retention, business continuity, and peace of mind for business owners.Choosing the right insurance depends on the business size, key employees, financial obligations, and budget constraints.Building a business requires…
Ralph Lauren has announced the appointment of Patrick Chopin as the new managing director for the UK and Ireland. This decision highlights strategic shifts within this renowned brand.Chopin has a longstanding history with Ralph Lauren, having contributed significantly since 2008 across APAC and EMEA regions.Previously, he held notable positions in merchandising and planning, ascending to senior vice president roles.His appointment follows Aldo Fleri’s transition from the company, marking a new leadership era.The brand anticipates future growth, crediting recent sales increase to its strategic upmarket shift.In a strategic move, US heritage brand Ralph Lauren has appointed Patrick Chopin as the managing…
E-commerce businesses thrive on efficient workforce management for seamless operations.Smartphones and internet accessibility drive the mainstream status of e-commerce businesses.The unseen complexity behind e-commerce involves various departments from software development to delivery.Rapid delivery remains a crucial competitive edge for any e-commerce business.Effective HR practices ensure a motivated and well-managed workforce essential for operational success.E-commerce businesses have gained popularity as they leverage widespread smartphone and internet use. Consumers enjoy the convenience of placing orders online and receiving products at their doorstep within days. However, behind this seamless process lies a web of intricate operations managed by diverse departments, including software developers…
VF Corporation has entered an agreement to sell Supreme.The deal involves EssilorLuxottica buying Supreme for $1.5bn.Supreme was previously acquired by VF Corp in 2020.The sale is expected to conclude by the end of 2024.This move requires customary regulatory approvals.VF Corporation has announced a significant business move with the decision to sell its renowned streetwear brand, Supreme, to EssilorLuxottica for a substantial $1.5 billion (£1.15 billion) in cash. Acquired by VF Corp from The Carlyle Group and Goode Partners in 2020 as part of a $2.1 billion (£1.6 billion) deal, Supreme has now found a new home in the eyewear industry.The…