The latest business Intelligence for HR professionals and people managers everywhere
Sign UpOnline Version
UK Edition
15th May 2024
Together with

THE HOT STORY
Wage growth steady but unemployment climbs
Office for National Statistics (ONS) data shows that while the unemployment rate increased to 4.3% between January and March, pay rises, excluding bonuses, remained at 6% despite predictions of a decline. Liz McKeown, director of economic statistics at the ONS, said that once inflation was taken into account, "real pay growth remains at its highest level in well over two years." The report also shows that the number of jobs on offer dropped by 26,000 to 898,000 between February and April. The number of unemployed people per vacancy rose to 1.6 in Q1, up from 1.4 between October and December 2023. The ONS said: "Although this ratio remains low by historical standards, it does demonstrate a slight easing in the labour market, with vacancies falling alongside rising unemployment." The number of people claiming benefits rose to 1.5m in April, with this up 29,300 compared to April 2023. The rate of people considered economically inactive - those aged between 16 and 64 who are not in work or looking for a job – dipped slightly to 22.1% in Q1.
PREVENTING WORKPLACE HARASSMENT
Beyond Borders: Global Anti-Harassment Laws Explained

To shape employee behavior and reduce the risk of claims and regulatory penalties, employers with workers outside the US must understand the anti-harassment laws and requirements in the countries where they operate. That’s where we can help.

Join attorney Elissa Rossi, Vice President of Compliance Services at Traliant, for a webinar “Beyond Borders: Global Anti-Harassment Laws Explained” on May 22 at 2-3 pm ET. We will examine international anti-harassment laws and discuss where prevention training is required of employers to build a respectful and compliant work environment worldwide.

The webinar will address:
  • Canada’s anti-harassment and workplace violence laws
  • Australia’s federal, state and territory anti-harassment laws
  • The UK’s Equality Act, 2010
  • India’s Prevention of Sexual Harassment (POSH) Act
  • International sexual harassment protections for women and men
  • Legal protections against workplace bullying

REGISTERFOR WEBINAR


 
WORKPLACE
City office rents surge
Analysis by BNP Paribas Real Estate shows that office rents in Britain’s biggest cities have risen at their highest annual rate since 2001. Prime rents in Birmingham, Bristol, Cardiff, Edinburgh, Glasgow, Leeds, Liverpool, Manchester, Newcastle and Sheffield were up by an average of 7.6% between Q1 2023 and the opening quarter of 2024. Sheffield recorded the biggest rise in prime rents, with a 15.4% increase. By the end of March, 38% of the office space under construction or renovation had been pre-let to occupiers, while the take-up of space rose by 9.2% on a year-on-year basis in Q1. The research found that 26.7% of the firms that secured office space in Q1 had been from the professional services sector, with the public sector taking 15.5% and companies in the banking and finance industry accounting for 12.6%. Simon Williams, head of national markets at BNP Paribas Real Estate, said leasing activity had been driven primarily by “occupiers seeking relocations to upgrade office space.”
Business parks see higher vacancy rates
A study from property analytics firm CoStar suggests business parks are experiencing higher vacancy rates as companies opt for office blocks in towns and cities. On average 9.1% of all office space throughout the UK is vacant but the eleven business parks analysed by CoStar all have higher vacancy rates. Grant Lonsdale, director of market analytics at CoStar, said: “One line of thought in the early days of the pandemic was that business parks would become more popular as office workers sought to avoid public transport,” adding: “The opposite became true as the threat of the virus receded and businesses and their workers sought vibrancy and social contact provided by city centres.”
Shein suppliers work 75-hour week
An investigation by advocacy group Public Eye shows that staff working for some suppliers of Shein are working 75 hours a week, despite the Chinese fast fashion firm promising to improve conditions. The probe, which followed up on an initial investigation from 2021, reveals that excessive overtime is still common for many workers. Interviewees, who were aged between 23 and 60, were quizzed last summer and said they worked 12-hour days on average, which did not include meal breaks, and often work six to seven days a week. Shein said long working hours in the sector were a "common challenge that brands, manufacturers, and other ecosystem players must work together to address," adding that it is “committed to playing our part to improve the situation in our own supply chain."
WORKFORCE
Half of workers ‘tempted’ to move jobs for a shorter week
Half of workers say they would be “tempted” to change jobs if it meant moving to a four-day working week. A poll of almost 11,900 companies and workers by recruitment firm Hays shows that 51% of employees would consider changing jobs to secure a shorter working week, with just 12% saying they would not be interested. The survey found that 11% of employers are trialling or have brought in a four-day week policy, compared to 7% last year. It was also shown that 78% offering the policy said it helps attract candidates, while 28% of firms said they would be more likely to offer a shorter week it if staff were in the office every day. A recent trial of the four-day week found that 51% of the UK firms that took part have made the policy permanent, while 89% are still operating it.
Migrant care workers 'punished twice' with deportation threats
An investigation by the Observer and the Bureau of Investigative Journalism has found that thousands of migrant care workers - many of whom have paid thousands to recruitment agencies - have been threatened with deportation by the Home Office after it took enforcement action against rogue employers. The investigation found that in 2022 and 2023, the Home Office cancelled 3,081 certificates of sponsorship, with 94% of decisions being due to the revocation of their employer's right to sponsor workers. Charities and unions have warned that workers who are already vulnerable to exploitation are being "punished twice". Unison general secretary Christina McAnea said the Government "asked migrant care staff to come here. So it's only right when things go wrong and staff lose their sponsoring employer, they get help to find new work and longer to secure support for a new visa."
REMUNERATION
Think tank claims national social care pay deal will cost billions
The Policy Exchange think tank has published a new report claiming that the Labour Party's plans for a sector-wide agreement on pay and conditions in social care, with a sector-wide £15-an-hour minimum wage, would cost at least £9.9bn a year, of which £4.2bn would come in the form of extra costs to the taxpayer. Policy Exchange says if this increase in spending were covered by council tax, it would see the average Band D household pay 10.9%, or £225, more each year. A Labour spokesperson said claims around the policy "are based on fiction", and that after the Government's "failure to fix the broken adult social care sector, Labour's New Deal for Working People will lay the groundwork for better conditions that end the race to the bottom in care and offer the dignity and respect these crucial workers deserve".
Tesco CEO's pay doubles to £10m
Tesco's chief executive Ken Murphy was paid £9.93m during the group's financial year to the end of February, up from £4.44m in the previous period, making him the highest-paid supermarket boss in British history. Murphy’s fixed pay was £1.64m, down from £1.71m, while his annual bonus pay-out increased from £2.73m to £3.38m. According to Tesco's latest annual report, the increase was a result of a performance share plan pay-out of £4.91m, which was not handed out last year. The report also revealed that Tesco's chief financial officer, Imran Nawaz, received £4.95m. It comes as sales increased by 7.2% to £61.5bn in the year to February, while retail adjusted operating profit increased by 10.9% to £2.76bn. However, Luke Hildyard, of the High Pay Centre, questioned the "extreme disparity" between Murphy's pay and that of other Tesco staff. The think tank claimed that the chief executive was paid 431 times the wage of the average Tesco worker, which is £23,010.
US law firm increases starting salaries to £180k
US law firm Quinn Emanuel Urquhart & Sullivan has increased the starting salaries of its newly qualified lawyers in London from £152,000 to £180,000. This comes after the firm’s London unit generated £153.6m in profit last year, with this a 60% increase on the £94.9m recorded in 2022. The wage increase brings salaries for the firm’s newly qualified London lawyers in line with the highest paying firm, Gibson Dunn. Magic circle law firm Freshfields recently increased its newly qualified lawyers’ salaries to £150,000.
CORPORATE GOVERNANCE
3M shareholders vote down executives' pay packages
3M has announced that some executives, including former CEO Mike Roman, did not receive enough shareholder votes in favour of their compensation packages. Although the vote is non-binding, 3M's board considers the results of the shareholder meeting as an important factor in the compensation review process. Mr Roman's total compensation for 2023 was $16.4m, up from $14m in 2022, despite the company facing lawsuits and declining sales.
Birch among candidates for Entain role
Henry Birch, the former CEO of William Hill Online and gaming operator Rank Group, is among the candidates being considered to replace Jette Nygaard-Andersen as permanent chief executive of Ladbrokes-owner Entain. While former bosses of Coral and Sky Bet have reportedly rejected the possibility of taking the role, sources say Dan Taylor, chief executive of Flutter Entertainment's international operations, has also been approached.
Stifel Europe president announces exit
Eithne O’Leary is stepping down as European chief of US investment bank Stifel after eight years in the role, having announced that she will retire at the end of June. The bank, which is led by chairman and chief executive Ronald Kruszewski, does not plan to replace Ms O’Leary, saying it will instead split its European leadership between three individuals: investment banking head Rob Mann, equities chief Erick Davis and Michael Levy, who runs fixed income. Stifel, which has 9,000 employees, has staff 600 in Europe, including 400 at its London office.
LEGAL
Stonewall fails to have EHRC stripped of UN status
LGBT charity Stonewall has failed in its attempt to have Britain's equalities watchdog stripped of top-level UN status over its stance on trans issues. An international tribunal has decided that the Equality and Human Rights Commission (EHRC) should retain its 'A status' as a national human rights organisation. Stonewall and other organisations had asked for a “special review” into the EHRC, claiming it is anti-trans. The EHRC's advice to the Government that protections for women on the grounds of their sex means their biological sex and not the gender they identify with was cited as a reason. The tribunal's decision is a blow to Stonewall, which has faced criticism for its campaign against the EHRC. Lady Falkner, chairman of the equalities watchdog, welcomed the decision and pledged to retain her independence from “activist organisations wishing to unduly influence our legal opinions and policy.”
INTERNATIONAL
Australia sets ambitious target of 80% tertiary qualifications by 2050
Australia's government has announced a bold target to ensure that 80% of its workforce will hold tertiary qualifications by 2050. The move, outlined by Treasurer Jim Chalmers during Tuesday night's budget, aims to address the evolving needs of the economy. The government will allocate A$1.1bn over the next five years to initiate the Universities Accord and other higher education reforms. This includes a A$350m investment in fee-free university courses to help more Australians access higher education. Education Minister Jason Clare stressed that these reforms are crucial to developing a skilled and productive workforce, vital for Australia's future economy. The plan also includes stringent new regulations for universities, particularly in increasing student housing to manage and reduce net overseas migration effectively. Universities will face restrictions on the number of international students based on their capacity to provide additional student housing. The Department of Education will oversee the implementation of these regulations, with a budget of A$2.1bn allocated over four years. Additionally, the budget outlines changes to student debt repayments and introduces financial support for student teachers, nurses, midwives, and social workers, costing A$427.4m over four years, with ongoing annual costs projected at A$1.2bn. These measures collectively aim to transform Australia's higher education landscape and workforce readiness by mid-century.
 


The Human Times is designed to help you stay ahead, spark ideas and support innovation, learning and development in your organisation.

The links under articles indicate original news sources. Some links lead directly to the source material. Others lead to paywalls where you may need a subscription. A third category are restricted by copyright rules.

For reaction and insights on any stories covered in the Human Times, join the discussion by becoming a member of our LinkedIn Group or Business Page, or follow us on Twitter.
Follow us on FacebookFollow us on TwitterFollow us on Linkedin

This e-mail has been sent to [[EMAIL_TO]]

Click here to unsubscribe