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THE GREAT RESIGNATION - HOW TRENDS FROM THE USA WILL AFFECT THE UK ECONOMY

  This week’s column comes from New York where I have been spending the last few days exploring the ‘city that never sleeps’.  Thanks to the pandemic, this is my first visit to the USA for a while and it has been a fascinating to experience how the country has changed and adapted to the challenges of the last two years. Whilst the economy has recovered, the key trend has been that of the “Great Resignation” where a record number of workers have left their employers. In fact, a staggering 4.4 million Americans quit their jobs in February 2022. Why is this happening at a time when job stability should have been a key consideration for many after a turbulent period? According to a recent survey from the Pew Research Center, workers who quit a job in 2021 did so because of low pay (63%), no opportunities for advancement (63%) and feeling disrespected at work (57%). Also, the majority of those that left their previous employer for a new job have improved their prospects - the same ...

REMOTE WORK, FLEXIBILITY AND THE REALITY OF THE POST-COVID WORKPLACE

As restrictions have been lifted across the UK, there is an expectation that many employers will be looking to bring their workers back to the office after nearly eighteen months of working remotely.  But will everything return to normal or has the pandemic irrevocably changed the way we work and, more importantly, where we work? One indication as to the way that the post-pandemic future of work may pan out come from freelancing platform Upwork, which recently surveyed 4000 adults in the USA to understand the views of office workers on remote work and flexibility. The results are fascinating and, if repeated here across the Atlantic, present some key challenges to both employers and policymakers. With the economy reopening, it is not unsurprising to find that the survey suggests that whilst two thirds will be returning to the office for some of their time. However, only a quarter are excited about this compared to a third who were not.   This result had more to do with wh...

HOW REMOTE WORKING CAN IMPROVE PRODUCTIVITY

One of the major disruptive influences on the 21st century organisation over the last two decades has been the increase in remote working. This is not surprising, given the shift away from physical work towards more administrative based functions which has ensured that individuals no longer need to be in a single place to undertake their work.  In addition, advances in technology has made it easier for employees to work together on a range of tasks and projects without having to be in the same room or at the same location. Demographic changes to the workplace, such as the increase in the number of women within the labour force, has also meant that there is increased demand for flexibility both in the home and at work.  And, more importantly, there is increasing evidence that remote working actually increases productivity and wellbeing in the workplace, reducing commuting time (and potentially increasing working time) and enabling employees to fit their work around their lives ...