The CIPD’s latest quarterly Labour Market Outlook report reveals that the net employment balance – which measures the difference between employers expecting to increase staff levels in the next three months and those expecting to decrease staff levels – remains positive but has fallen to the lowest overall level since winter 2020/21. The report also confirms that decreasing staff levels will be high on the agenda in 2024, in response to higher wage costs and reduced profits in the private sector during the period of high inflation.
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Global Dynamic & Politics
The world of work is undergoing profound and extensive disruption. Large-scale trends are transforming work, workforces and workplaces. The legacy of the pandemic has combined with a tense economic and social landscape, presenting businesses with significant challenges. How can businesses best navigate this increasingly complex environment? And, if you are in HR or have people responsibilities, what are the key strategic issues and areas of priority action for 2024 and beyond?
The latest Edelman report surveyed 32,000 across 28 countries, finding that while business is the most trusted institution to ensure innovations are safe, understood, beneficial and accessible, most institutions are not trusted to introduce innovations to society. The report recommends that CEOs need to safeguard jobs and take a stand on emerging ethical concerns, with data revealing that 62% of employees expect CEOs to manage changes occurring in society and speak publicly about issues such as job skills of the future (82%), ethical use of technology (79%) and the impact of automation jobs (78%).
This report from academics at the University of Leicester explores the limitations of existing labour market policies in addressing non-standard work arrangements such as the gig economy. With the rise of active gig-workers from 2.3 million in 2016 to 4.7 million in 2019, the research seeks to inform an optimal policy response by examining the unique safety net developed for art workers in France, the ‘intermittent du spectacle’.
This roundtable discussion looked at the evolving relationship between employers and their people and explored emerging challenges and opportunities for employers as they take steps to link sustainability and a conscious approach to environmental issues to people strategy.
The OECD’s latest International Migration Outlook report explores recent developments in migration movements and the labour market inclusion of immigrants in OECD countries. The report reveals that permanent migration to OECD countries reached a record high of 6.1 million in 2022, marking a 26% increase from 2021. It cites rising labour migration as one contributing factor, as migrant workers have helped lower labour and skills shortages in OECD countries.
This year’s edition also includes a special focus on the labour market integration of migrant mothers and fertility patterns among migrant populations.
In this report, James Davies, Employment Partner at Lewis Silkin LLP, explores the possibility that, by 2050, economies like the UK will face a labour market with too few jobs for the available workers. Rapid advances in technology are converging with other significant drivers of change to transform the world of work. Delving down into the work and occupations of today, this report considers the factors which could increase or decrease jobs in different sectors over the next quarter of a century. The impact of this transformation will depend on decisions made, and actions taken, over the next few years. This report identifies the decisions and actions which will need to be addressed and brings together insights from a variety of sources to offer a glimpse of that future.
This report by Jericho, supported by Ipsos and the Chartered Institute of Public Relations (CIPR), explores the evolving relationship between business and democracy and sets out some of the key challenges and opportunities for business, including the potential risks of doing nothing.
This roundtable discussion explored the trends driving increased flexibility in the workplace and considered a variety of different approaches to flexible working, with a spotlight on the four-day week.
McKinsey’s new research suggests that remote work will continue, with office attendance still 30% lower than pre-pandemic levels and attendance varying by age, income and seniority.