Future of Work

Ageing workforce

TOP INVESTOR SCRAPS BONUSES SAYING THEY DO LITTLE TO IMPROVE PERFORMANCE

One of the UK’s most respected investors has scrapped bonuses at his firm, arguing that they are “largely ineffective” in boosting performance. The move at Neil Woodford’s fund management business runs counter to conventional wisdom in the City that bonuses are needed to motivate staff. His firm’s 35 staff will get a rise in basic […]

Sports Direct

CITY INSTITUTIONAL INVESTOR ATTACKS MIKE ASHLEY’S SPORTS DIRECT OVER PRACTICES

One of the City’s leading institutional investors has launched a stinging attack on Mike Ashley’s Sports Direct as the tycoon faces increasing pressure over the retailer’s working practices. Royal London Asset Management, which owns a 0.18% stake in Sports Direct, said it had “lost confidence” in the firm’s non-executive directors. Mike Fox, head of sustainable […]

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NIGHT TUBE FOR WORKERS AS WELL AS REVELLERS SAYS LONDON UNDERGROUND CHIEF

The long-delayed Night Tube will be “not just for revellers” when it launches over last weekend the new boss of London Underground (LU) said. Mark Wild predicted that about 100,000 people will use the service every Friday and Saturday night as “there’s clearly a demand for it”. He joined LU as managing director just eight […]

National Living Wage

NATIONAL LIVING WAGE SHOULD BE SCRAPPED SAYS THINK TANK

The Government’s plan to move to a National Living Wage worth more than £9 an hour by 2020 should be abandoned, according to a think tank. New research from the right-of-centre Institute of Economic Affairs (IEA) bemoans the “politicisation” of pay as it also calls on Theresa May to cancel proposals to publish “crude league […]

BHS administration

WORKERS AT 57 BHS STORES GIVEN STAY OF EXECUTION BY ADMINISTRATORS

Thousands of BHS workers have been given a stay of execution after it emerged that the department store chain’s remaining 57 shops will be kept open longer than planned. Administrators to the retailer had put a deadline of August 20 for all outlets to close, but this has been provisionally extended to August 28, although […]

Sports Direct

£1 MILLION IN BACK PAY FOR SPORTS DIRECT WORKERS DENIED MINIMUM WAGE

Thousands of warehouse workers at Sports Direct will be handed £1 million in back pay after the retailer came clean over not paying the national minimum wage. In a deal struck with HMRC and Unite the union, the retailer will provide payments dating back to May 2012, with some staff pocketing up to £1,000. The […]

Employee diversification

EMPLOYERS SLOW DECISIONS ON HIRING AND INVESTMENT IN WAKE OF BREXIT DECISION

Business leaders urged to invest in skills now to future-proof their businesses as evidence from employers shows some migrant workers may already be considering leaving the UK. The UK’s decision to leave the European Union has resulted in a softening in employers’ hiring intentions, according to the latest CIPD/Adecco Group UK & Ireland Labour Market […]