Recent shifts in the tech industry have led to a significant rise in redundancies.Investment in artificial intelligence has prompted resource reshuffling in companies, affecting thousands.Redundancy can be challenging, both emotionally and financially, necessitating a clear understanding.Employers are obliged to consult with employees before implementing redundancies.Statutory redundancy pay is available, with additional compensation options possible.The tech industry has seen a marked increase in redundancies as companies redirect resources towards artificial intelligence. This shift has resulted in thousands of employees losing their jobs, underscoring the unpredictable nature of the sector’s evolution.A redundancy occurs when an employee’s role is deemed unnecessary, often due…
Author: Dave Antrobus
Over half of UK employees admit to faking sick days, costing businesses billions annually.UK businesses face an annual cost of £5.6 billion due to sick days.On average, employees took 7.8 sick days last year.February is expected to see the highest number of sick calls, with 350,000 employees anticipated to be absent.London, Reading, and Edinburgh are the top cities incurring high sick pay costs.Over half of the British workforce has admitted to taking sick days under false pretences, primarily to enjoy a day off. This widespread issue has resulted in UK businesses bearing a significant financial burden. The total cost of…
The financial services sector is witnessing a recruitment revival following the difficulties of 2023.New data shows a 7% increase in job openings in January compared to November 2023.The upturn comes after a substantial 38% decline in job listings throughout 2023.Organisations are increasing salaries to attract talent amid a skills shortage.Regulatory challenges were a major factor in last year’s hiring downturn.The financial services industry is seeing a promising recovery in recruitment activity after enduring a difficult hiring climate in 2023. New research from the Association of Professional Staffing Companies (APSCo) highlights the improvement, with January job listings showing a 7% increase…
Recent research highlights the growing importance of financial wellbeing in the workplace.Employers are recognising financial education as crucial amidst rising living costs.A significant shift towards increased financial wellbeing spending is underway.Plans to expand independent financial education and guidance are prominent.Savings products are being integrated into employee benefits to foster resilience.The Financial Wellbeing Research 2023, conducted by the Reward & Employee Benefits Association (REBA) in collaboration with WEALTH at work, underscores the critical need for comprehensive financial wellbeing strategies in the workplace. With rising costs in areas such as childcare, rent, and energy, employees are increasingly vulnerable to financial pressures. Employers…
The UK has officially entered a recession, impacting small business optimism.A recent report highlights the positive outlook that small businesses had for 2024 despite economic concerns.New data reveals the necessity for a strategic reset to support 5.5 million UK small businesses.Experts call for increased support for start-ups to drive economic growth amid recession fears.Business leaders stress the importance of resilience and adaptability in overcoming current challenges.The UK economy has now been officially classified as being in recession following a contraction at the end of the last year. This news poses a significant threat to small business confidence, which had been…
Understanding the signs of toxic leadership is crucial for organisational health.Experts identify three key traits that can turn leaders toxic: cautiousness, imagination, and boldness.Cautious leaders may hinder progress due to fear-based decision making.Imaginative leaders can become unfocused, causing organisational chaos.Bold leaders might lack accountability, fostering workplace distrust.Understanding the signs of toxic leadership is crucial for maintaining a healthy workplace environment. As leaders ascend to higher roles, certain personality traits, though initially beneficial, may become detrimental. Dr. Ryne Sherman, an expert in workplace personality, highlights three critical traits that can lead to a toxic leadership environment.Experts identify three key traits that…
Research reveals a growing demand for mental health support among employees, expected to dominate workplace support needs in 2024.A survey of 500 HR professionals indicates that over 40% expect to see more requests for mental health assistance.Financial health concerns follow closely, with 34% of employers anticipating increased support requests.Over half of businesses are prepared to enhance mental health support, prioritising it highly among workplace initiatives.Employers are urged to balance support across mental, physical, social, and financial health to ensure employee wellbeing.Mental health is increasingly at the forefront of workplace concerns, with new research highlighting its expected rise in demand among…
Sheffield-based SSB Law’s administration has triggered a widespread legal and financial crisis.The firm, specialising in ‘no win, no fee’ claims, was hit by significant financial woes.Thousands of former clients now face substantial legal bills due to failed claims.The Solicitors Regulation Authority has launched an investigation into the firm’s operations.Calls for government intervention have intensified amidst fears of severe financial impacts on affected clients.In early January, SSB Law, a prominent Sheffield law firm, ceased operations and entered administration, creating shockwaves across the West Yorkshire and Lancashire regions. The firm, which focused on compensation claims under a ‘no win, no fee’ arrangement,…
Ison Harrison celebrates a successful year with an unprecedented profit distribution to its employees.Every eligible employee at Ison Harrison is set to receive a £4,000 profit distribution as the firm marks its second year of employee ownership.The transition to employee ownership has driven significant growth, with a record turnover of over £22 million in 2023.Ison Harrison’s commercial division and legal aid team have experienced exceptional growth, highlighting the firm’s success.Expansion continues with a new office in Doncaster and plans for further regional growth in 2024.Ison Harrison, a prominent legal firm, is rewarding its employees with a remarkable £4,000 each, marking…
HR professionals in the UK are prioritising employee wellbeing through increased technology investments.A survey highlights a surge in HR technology expenditure with a focus on mental health resources.Over 93% of HR professionals link technology adoption to enhanced employee engagement.AI and automated tools are being leveraged to improve employee satisfaction.Organisations plan significant HR tech investments over the next five years.A recent survey of over 1,000 HR professionals across the UK reveals a notable shift towards enhancing employee wellbeing through technology. This trend is largely driven by investments in HR technology, including AI-powered tools and other innovative solutions. The aim is to…