Paper Summary: Boxing Day

Economics

• There’s a neat summary of house price forecasts for 2014 from Hilary Osborne in The Guardian.  The bulls: Rightmove and RICS (8 per cent).  The bears: “the normally downbeat” Capital Economics (5 per cent).  the consensus appears to be about 6.75 per cent.  There’s also, an analysis of the accuracy of predictions for 2013.  The booby prizes went to Knight Frank (who forecast a fall of 2 per cent and reported an increase of 7 per cent) and arch pessimists Capital Economics, who forecast Nationwide’s index would fall 5 per cent – the Nationwide HPI rose 6.5 per cent over the year.  Closest call was RICS who forecast a rise of 2 per cent then reported a rise of 5 per cent.

A Capital Economics forecaster

Personal Finance

• In an editorial piece in the Daily Express (beneath an expression of gratitude to our troops and above a rather toadying message to the Queen – “here’s to the next royal baby, Ma’am!) the paper highlights the importance of pensions (sparked by a report on a potential pensions disaster for the next generation).  The Express says, “If half the population aren’t paying enough towards their pensions or are leaving it too late to join then there is a time bomb ticking that will cause immense hardship and worry.  If youngsters won’t listen to the Government or experts then it is the duty of parents and grandparents to put them wise to one of the best investments anyone can make”

Property

• Leader pieces in the Daily Mirror and the Daily Telegraph focus on flooding.  In “Joy’s at a premium” the Daily Mirror argues that insurance companies should play fair and pay up promptly.  “Instead of quibbling they should help put the lives of those affected back together rather than hindering them.  Firms who happily pocket the monthly premiums have a moral duty to write a big cheque when a legitimate claim is made by a policy holder”.  The Daily Telegraph, on the other hand, says should consider if we are doing all we can to ward against flooding.  Earlier this year, the Coalition announced that it would spend more on flood defences, after cutting back when it came to power.  But MPs warned this would still not keep pace with increasing risks: “a renewed focus on this issue will prevent the wreaking of similar devastation on more homes, and more lives, in the years to come.”

Recruitment and Employment

• The BBCs reports a survey by the recruitment organisation, Randstad, which shows that while the recession has led to a drop in the number of people commuting as people lost their jobs – there has been an increase in people travelling more three hours a day.  The poll, which looked at the commuting patterns of 2,000 workers between 2008 and 2013, found that almost one in 10 respondents were now travelling for that period a day – compared with one in 20 previously.

Paper Summary for Thursday 3rd October 2013

Economy

• Both The Times and the Daily Telegraph cover Mark Carney’s interview with ITV News Anglia (p.45 and p.B1 respectively) although the Daily Telegraph gives it much more space.  Mark Carney said “the economy is beginning to pick up”, but he stressed that a durable recovery would need to be built on growth outside the capital.  “This recovery, to gain traction, is going to turn on regions like East Anglia,” he said. “As important as London is, it is going to turn on what happens in the broader economy. It is not enough just to have a recovery in London and the South East.”  Mr Carney also warned potential homeowners to check they can afford their mortgages “when rates rise – as they will when the recovery takes hold”. Deflecting questions about a possible housing bubble, he said: “The bigger challenge is how do we ensure housing grows in a sustainable way.”

 

Property

• In an opinion piece in The Independent (p.17) Mira Bar-Hillel looks at the “economic insanity” of Help to Buy.  She says, “There is no evidence that the Government’s stated purpose for Help to Buy, which is to stimulate the building of more homes, desperately needed to relieve the housing crisis, is materialising.”  Elsewhere in The Independent (p.56), Russell Lynch reports Britain’s builders are constructing homes at the fastest pace for nearly a decade as the industry struggles to keep up with fresh demand – “Residential construction activity jumped at the sharpest rate since November 2003 during September, according to the Chartered Institute of Purchasing & Supply, as the Government’s Help to Buy scheme and cheaper mortgages send buyers flooding into the market.”  The Daily Telegraph also covers the story saying Help to Buy has propelled house building to a 10-year record (p.B1).

Employment & Recruitment

• David Cameron told the Conservative Party conference yesterday that young people should ‘earn or learn’ – announcing a policy that anyone under 25 will be barred from claiming housing or unemployment benefit, and said the state should play the role of a responsible parent – ‘nagging and pushing’ young people not to be idle, reported the Daily Telegraph.  The Independent called it an extension of US-Style “workfare”.  It quoted, Grainia Long, chief executive of the Chartered Institute of Housing, who said: “This would be a dangerous move. How do you build the economy without a young, mobile workforce?  It would mean that young people would be unwilling to take risks such as moving for work because there would be no safety net for them”.  The Daily Express took a more hard-line suggesting referring to the policy as a “benefits ban”, a “welfare crackdown” and a “benefits curb” under which young people could be “stripped of the right to claim jobless benefits”.  Perhaps the existing British workforce could do with the help? – The Daily Telegraph reports that overstretched staff are toiling at a more intense rate than they were a year according to new research from recruiter Randstad, with less than one in three reporting the same level of pressure last year.  The Daily Mirror and Metro run the same story, with the Mirror pointing out that social care workers are the most-spread thin employees in the country – over (54%) say they work hard already and cannot work any harder.  This isn’t going unacknowledged; elsewhere in his conference speech, the PM took time to praise social workers (Daily Telegraph, p.4 and The Times p.36).

Personal Finance

• The Financial Conduct Authority has been urged to crack down on advertising by payday lenders and tackle the way they collect and extend loans reports The Guardian. The regulator will announce new rules governing the sector this morning, and the government will publish the results of a survey it conducted among borrowers to establish whether lenders are meeting voluntary codes of practice.  That story is also covered in The Independent (p.13) and was the lead on The Today Programme this morning.

Paper Summary: Thursday 22nd August 2013

Economics

• The recent run of good news on the economy came to an unexpected halt yesterday after data on the public finances showed Treasury coffers were drained last month for the first July in three years.  The Daily Mirror called it an “unmitigated failure”.  Once again, George Osborne has failed his own test; “if broken promises were a crime in politics, Mr Osborne would be incarcerated, with the key thrown away.”   But in its business leader, The Daily Telegraph says the Chancellor may yet have the last laugh on public finances.  Tax revenues in the four months of the current year have outperformed official forecasts with higher onshore corporation and income tax receipts providing concrete evidence of economic improvement.  Economists are not too alarmed, says Ruth Sunderland in The Daily Mail Comment column, Government spending has risen more quickly than expected, but that may be down to the timing of payments, and come out in the wash later in the year.  It is worth noting, too, Sunderland adds, that the figures are early estimates, and could look decidedly better after revisions.  The Guardian’s Business Analysis column is equally positive, pointing out that the markets focused on good news from the CBI that the country’s manufacturers are feeling their most chirpy since August 2011.

Recruitment & Employment

• The Business Commentary column in The Times says insurance workers are Britain’s proudest employees, with nine out of ten declaring themselves chuffed to be in the profession; “so the man from the Pru goes to work with smile on his face”.  The runners-up, according to a study by recruiter Randstad are property workers, of whom 83 per cent are “proud”, with media types third, at 81 per cent.  Lower down, banker-bashing has taken its toll with only 59 per cent of financial services employees expressing pride in their jobs.  Among accountants, “who know they’re viewed as boring”, only 44 per cent are chipper.  Rock-bottom, though, are railway staff, of whom only 32 per cent are proud of their jobs: “perhaps we should be patient with the hapless folk who get the blame whenever we’re late for work.”  That story is also running on Sky News and this morning’s Today Programme on Radio 4.

Personal Finance

• Millions of pensioners are missing out on bumper retirement pay-days because of an industry rip-off according to the front page of Daily Express.  Giles Sheldrick says official data shows how some of the UK’s biggest insurers are short-changing pensioners by offering annuity rates up to 30 per cent below the best deals on the market.  The Association of British Insurers published rates offered by its members to customers looking to convert their pension into an annuity to guarantee a regular income exposing the disparity between providers.  A 65-year-old with average pension savings of £24,000, and in good health, can get £1,099 a year from Reliance Mutual but just £839 with Scottish Widows.

Property

• The Financial Times puts the news that Kensington council has asked a hedge fund manager told to dig deep for luxury London basement on its front page.  The council has demanded a fee of more than £800,000 from a man seeking to build a 900 sq m subterranean extension underneath two adjacent west London properties (including a swimming pool and spa).  The sheer scale of the extension prompted the council to ask for the one off fee when it granted planning permission which will go towards affordable housing elsewhere in the borough.  Such payments, known as “Section 106 agreements” are normally confined to large-scale commercial developments or housing estates.

Paper Summary: Friday 26th July

Economics

• All the national newspapers covered yesterday’s GDP figures (which revealed 0.6 per cent growth for the quarter to June) in their editorials.  The Evening Standard, City AM, The Independent and The Sun were cautious “growth – but not yet the sunny uplands”; “we are expanding again – but the journey has barely begun”; and “growth, yes, but still a long, long way to go”.  The Telegraph counterattacked Labour’s offensive on the decline in the standard of living, asking if the party wants “those in work to push for higher pay, just at the point when the economy is least able to withstand the shock?  While The Times is also circumspect about the figures – calling for great regulation and low corporate taxes to ensure a sustained recovery – The Daily Mail and the Daily Express were more upbeat saying respectively that the results were “lifting the gloom on the British economy” and that “it’s getting better at last… Rejoice.”  The Daily Mirror vents a surprising amount of spleen on the “Chancer of the Exchequer” over what it calls a “glimmer of good news” but The Guardian takes a very different tack offering, perhaps, the most positive spin on the news for the Tories: “David Cameron will be able to claim at this September’s party conference that the plan is working…  This may well be his 1981 moment: the point at which all the naysayers can be dismissed as weirdy-beardy academics and media malcontents.  It allows Nick Clegg to breathe easier. And it confirms that, of all the party leaders, Ed Miliband will face the toughest autumn conference of the lot. Labour’s wobbly response to the GDP figures was surely a product of its uncertainty over whether to welcome the news or grouse that it should have been better.”

 

Personal Finance

• By far the biggest PF story of the day is Archbishop of Canterbury’s declaration of war on Wonga.  The Sun says this is “bold”,” imaginative”, and “forward-looking”.  “By throwing the church’s financial muscle behind credit unions he says he hopes to force payday loan firms who charge eye-watering interest levels out of business.  He could let the credit unions use church buildings to lend money at affordable rates — potentially giving them 16,000 “branch offices” and easy access to millions of needy people.  His idea is a very modern take on the church’s centuries-old mission to help the poor and the exploited…  For too long the church’s endless rows over women bishops made it look hopelessly out of touch.  Its new Archbishop vowed to make it more relevant to ordinary people. In taking on Wonga he has successfully proved it does have a role in the 21st century.  Answering the prayers of our most downtrodden citizens.”  The Times is also fulsome saying Justin Welby has a true understanding of “love your neighbour.”  The FT says the archbishop’s proposal is ambitious.  “Success would give savers a new way to help the least fortunate.  Even if it fails, he has shown how the Church aspires to be a potent force for good.”

 

Recruitment & Employment

• Financial firms are taking on more short term workers, in an encouraging sign for jobs activity in the sector, according to the boss of the world’s second-biggest recruiter.  “Activity in the City is not for permanent placements, but there are a lot of projects going on. We usually see that over time resulting in permanent jobs also,” Randstad chief exec Ben Noteboom told City A.M. The group’s global revenues fell five per cent to €4.1bn in the quarter.

 

Property

• Help to Buy is in the firing line this morning.  The Daily Mail’s Tom Utley asks how can it possibly make sense to pledge £130 billion of taxpayers’ money to underwrite home loans, with deposits of as little as five per cent?  In the short term, the scheme can only drive house prices up still further (Utley quotes Zoopla’s valuation data to demonstrate how much prices have risen).  As for those reckless enough to take advantage of the scheme, what is to become of them when interest rates go up, as surely they must one day, and they can no longer afford the repayments?  In last night’s Evening Standard, Russell Lynch also turned his guns on Help To Buy as the Chancellor’s meets with housebuilders and lenders over the second stage of the scheme. The Government is preparing to underwrite the mortgages of tens of thousands of would-be homeowners from next January for a three-year period, which conveniently coincides with the next election.  Lynch argues the Chancellor would rather people were feeling warm over higher house prices than talking about his biggest embarrassment, the fact the deficit will barely move this year and is likely to take two parliaments to get rid of: “Help to Buy is all about May 2015: don’t expect much long-term help for the economy”.

Randstad Sourceright Recognised As the MSP Leader for Western Europe by Staffing Industry Analysts

Global Talent Leader Recognised for its Outstanding Positioning
and Growth in International Managed Service Provider Markets

London, July 10, 2013 – Randstad Sourceright, a global talent solutions leader, today announced that it has been recognised as a leader in the MSP (Managed Service Provider) field by Staffing Industry Analysts (SIA) in the 2013 VMS and MSP Supplier Competitive Landscape report.

Of the 24 profiled MSP partners included in the report, Randstad Sourceright was ranked at the top for total MSP spend outside the U.S. and number four overall. With $5.7 billion in total temporary or contract MSP sales, including payroll services, the company is third highest among respondents for this measure. Moreover, Randstad Sourceright was noted in the report for its leadership in MSP around the world, being the top provider in Western Europe and North & South America, based on total number of clients.

The 2013 research provides an overview of the current landscape for Vendor Management System (VMS) providers and MSPs, highlighting the rapidly growing demand for both solutions in the market. According to SIA, MSP is becoming more mainstream and demand continues to surge, with total MSP spend having grown 18 percent throughout 2012. In light of this increasing market for MSP, the provider landscape has expanded considerably. However, despite the large number of providers in the market, there is significant differentiation among them, with some experiencing greater success than others.

“The demand for an MSP solution continues to grow and are fast becoming a fundamental part of an organisations overall talent resourcing strategy. At Randstad Sourceright, our MSP solutions are delivered as a true partnership – they are tailored to meet a client’s expanding contingent and contractor workforce as a response to their business objectives and requirements.” comments Sebastian O’Connell, managing director for Randstad Sourceright UK. “With our ability to also reduce labour costs, improve compliance, safeguard against risk and increase efficiency, Randstad Sourceright is proud to be recognised as the Top MSP Leader in Western Europe by Staffing Industry Analysts.”

Paper summary: Friday 7th June 2013

Economics

Nervous investors on Wall Street were trading the dollar at fresh lows last night, as doubts emerge over the latest round of quantitative easing life support from the US Federal Reserve. In Europe, similar “tremors” were sent through stock markets yesterday as the ECB’s president Mario Draghi cut growth forecasts for the single currency area. However, UK sentiment remains cautiously optimistic. In today’s Express Peter Cunliffe claims that the incoming governor of the BoE, Mark Carney, might find it “hard to justify” his £874,000 pay deal, with things finally turning a corner for the UK. This morning the FTSE has opened flat at time of writing. (FT p.1, Independent p.51, Daily Express p. 65)

Personal finance

Yesterday Ed Miliband called for a new approach to social security, agreeing with the coalition spending plans for 2015/16, but confirming his intention, if elected, to reform social security to take more account of contributions. It could mean out of work payments for those who have worked for longer previously are greater than the safety net for people with less history of working full time. (FT, BBC, City A.M.)

In an interesting development in the Evening Standard, the paper’s editorial supports the chair of London’s Finance Commission in his lobbying for more local control of property taxes for London. The calls currently being made to every major political party could mark a new attitude towards a more local system of stamp duty, while Scotland and Wales are making similar calls. (ES, p.16)

Recruitment

The credit crunch and the banking sector’s battered reputation have not made finance workers unhappy, according to a study out today from recruiters Randstad, but instead made employees more well-rounded. Despite the fall in headcount in the sector since the crisis, 46 per cent of financial services workers are happy with their career progress, the study found. That is above the UK average of 38 per cent. (City A. M., The Times)

Property

The number of first time buyers has risen by 15% between March and April, with the numbers in London rising by a whopping 91% compared to the same quarter last year, according to the latest First Time Buyer Monitor from LSL. (BBC1, BBC2, ITV, Metro, The Times (x2), everywhere else)

Meanwhile, Foxtons is to float on the stock exchange, valued at £400 million. It was originally bought by private equity firm BC partners at the height of the market for £360 million. (FT Companies and Markets, p.1)

Insurance professionals are rocketing up the career ladder

 

 

People working in insurance have the most opportunities for promotion in the UK when it comes to their career progression according to research by recruiter Randstad.

In a survey of over 2,000 British workers, 38% of British workers said they were content with their career progression.  But 73% of those working in insurance said they were happy with the way they were scaling the corporate ladder.  Those working in property, financial services, nursing, IT and telecoms, and education were also above average.

At the other end of the spectrum, those working in media and wholesale were the least happy with their career progression (12% and 13% respectively).

WHERE ARE YOU ON THE CAREER PROSPECTS LEAGUE?

INDUSTRY SECTOR	I am Happy With My Career Progression
Insurance	73%
Property	59%
Law	55%
Financial Services	46%
Leisure	41%
Health (e.g. Nurse)	40%
IT & Telecoms	39%
Education	38%
UK AVERAGE	38%
Rail	37%
Engineering	36%
Social Care (e.g. Social Work)	34%
Retail	33%
Accountancy	26%
Wholesalers	13%
Media	12%

“Career Blockers” Cutting Down High-Flyers’ Promotions Prospects

The variations between sectors may be explained by how talent is managed across different industries.  Organisations that manage their employees’ careers most effectively adopt “up or out” policies that require the dismissal of employees who fail to attain a promotion after a certain amount of time – ensuring high flyers’ promotions aren’t held up by “career blockers”.  The United States Armed Forces, for instance, require that certain ranks be held for no longer than a set amount of time, a lack of compliance with which could render grounds for dismissal.

In the UK, leading insurance, financial services and law firms have adopted this ‘Up or out’ American model.  And these were three of the sectors in which people are most happy with their career progression.

Mark Bull, CEO of Randstad UK says, “Dynamism in the workforce creates a high performance culture and is fundamental for the success of employers and the happiness of employees.  But there could be ‘career blockers’ holding up the promotion prospects of good employees in sectors like media and wholesaling.  That’s frustrating for those high-fliers who are left with no way to climb past underperforming managers.  Increasingly we see them looking elsewhere.”

Promotion Schedules Halted in Recession

Frustration with career progression in sectors like media and wholesale may also be explained by organisations’ reactions to the recession.  The economic downturn has led to some employers abandoning promotion schedules – assuming that the mere existence of a job should be enough to keep and motivate existing staff.  Randstad’s latest World of Work survey found that more than 60% of UK workers have taken on extra responsibilities as a result of the crisis – without being compensated for the additional demands. 

Mark Bull explains, “Employers had to make difficult choices when deciding where and how to reduce costs in response to falling markets.  Slowing down promotions may have been the obvious choice in the short-term.  However with the focus on cutting employee numbers, it’s easy to forget about the people left behind.  If this was a conventional downturn, most employees would have accepted the lack of promotions as a temporary setback or the price of protecting their job in difficult times.  But this isn’t a temporary downturn and as a result, the UK is left with a talent time-bomb – a bomb that’s likely to go off as alternative jobs become available.  Among the top 15% of the workforce, outside of sectors like financial services and insurance, three in every five employees say they aren’t happy with their career progression.  If companies aren’t forward thinking in their talent management they will see their top 15% go elsewhere.”

While many business leaders are aware their organisations are at risk of losing their top performers if they cannot find ways to progress their careers appropriately, career management is often not easy.  Career discussions can be interrupted by the day-to-day pressures of the working environment and managers can face a conflict between the need to manage their teams in the short-term while balancing long-term career prospects.

Mark Bull comments, “Employers should obviously be looking after the most productive top 15% of their workforce, but they also need to motivate other staff who may have become disenchanted with poor promotion prospects.  High-flyers, for instance, may feel they are being forced to carry under-performing colleagues.  Employers need to take and active approach to managing engagement within their organisation.  Issues raised in staff satisfaction surveys must be addressed.  Line management also has a crucial role in sustaining motivation and indentifying people who have become disengaged through the appraisal process and in day-to-day management.  Finding new challenges for dissatisfied people or better recognition and development of their skills could not only improve their performance, but also strengthen engagement and productivity as a whole.”

Career Progression Doesn’t Always Go Hand In Hand with Headcount Growth

Additionally there appears to be little relationship between headcount growth and how satisfied people are with their career progression, again suggesting employers could relook at how they manage talent within their organisation.  While, the sector which expanded the most between 2009 and 2012 was IT & Telecommunications (in 2012 there were 44% more people working in IT and Telecoms than in 2009 according to the ONS) employees were only marginally happier than the rest of the country’s workforce.  The number of people with permanent jobs in nursing expanded by the second largest proportion (26%) – but nurses were also only slightly happier than average with their career progression.  Over the same period, the UK’s permanent workforce expanded by 10%.  Insurance – the sector in which people were most happy with their career progression – didn’t expand between 2009 and 2012 and the property sector, which had the second highest percentage of employees happy with their career progression, grew by just 1%.

Mark Bull admits: “We expected to find a relationship at some level between career progression in a sector and job growth.  But the figures don’t bear this out.  Insurance remained static in size as a sector between 2009 and 2012, and the property sector expanded by just 1%, but these were the two sectors in which people were most happy with their career progression.  We think this points to pride in being part of a high performance culture with sophisticated application of talent management.”

What Does Career Progression Mean To People Today?

In further research carried out by Randstad, when asked to think back twelve years and remember what they thought the most important elements of career progression were, 62% of respondents said better pay, making it the most important factor.  However, when asked what they thought the most important elements of career progression were today, the most popular factor was Doing work that lets me learn new things, meet new people and participate in different projects – an option chosen by 74% of respondents.

Mark Bull added, “Employees are redefining the meaning of career progression.  When it comes to career progression, not only are the values people hold changing, the whole concept of a career as an upward progression through a sequence of roles in one firm has changed.  Flexibility in the workforce means that for many a career doesn’t involve progression: it may be a series of moves that go sideways, or even backwards, and cross occupational and organisational boundaries for others its simply increasing their skill sets.”

Londoners Spend Most Time Commuting Each Day

Londoners spend more time commuting each day than any other region in the UK despite having some of the shortest distances to travel to and from work, according to research produced exclusively for the Evening Standard by specialist recruiter Randstad Financial & Professional.

Londoners spend an average of 56 minutes per day travelling to and from work. This is the highest average commuting time across all of the UK regions. However, the time spent travelling by Londoners is not matched by the distances they have to travel. On average, Londoners travel a total of 15 miles a day, the third shortest average daily commuting distance in the country[i].

The economic downturn has affected commuting trends in the capital. Workers in London now travel three miles less on average compared to 2008, before the downturn took hold. However, average commuting times have remained unchanged over the same period at 56 minutes. This suggests Londoners have not only moved closer to their places of work, or found jobs closer to home, but they are now using slower – and possibly cheaper – modes of transport to commute. The cost of a seven day travel card for zones 1-4 has risen 26% over this period[ii].

Tara Ricks, managing director of Randstad Financial & Professional, said: “Traffic, lack of parking and the outright cost of driving in London means the vast majority of workers in the capital rely on public transport to get to and from work. Often commuters are at the mercy of multiple public transport services and this can lead to longer commuting times. Factor in the rise in cost of using public transport in London over the last few years and it’s little wonder commuters are choosing to live closer to work and potentially using cheaper methods of transport.”

Londoners Under Pressure

Nearly one in five Londoners (18%) feel under pressure to work while they commute, while one in ten (9%) say if they didn’t work while they commute they would not be able to perform their job effectively. Over a quarter (27%) say that new technology such smartphones and tablets has allowed them to be more productive on their journeys by allowing them to work should they need to.

Methods of Transport

One in four Londoners (25%) use a car to travel to and from work, while 24% use the London Underground, 17% choose to travel by bus and 13% rely on the train. London has one of the highest proportions of commuters who travel to and from work by bicycle at 3.8%. The East Midlands is the only region with a higher proportion of cycling commuters at 4.3%.

Commuting Activities

London has the highest proportion of commuters who work while they travel compared to anywhere else in the country. One in ten Londoners (10.4%) work while on the move, this is higher than the national average of 7.5% and is the highest proportion across all regions in the UK. The most popular activities for commuters (including drivers and car users) are listening to their own music (17.6%) and reading a newspaper, magazine or book (17.6). 

When drivers and car users are excluded from the analysis, the activity trends shift slightly with reading a newspaper, magazine or book the most popular activity at 21.5% and the proportion of commuters who work falling to 9.6%, suggesting that even some Londoners commuting by car are taking work calls while on the move.

Tara Ricks, said: “In a tough economic environment, employees are under pressure to demonstrate their value to their employer and committed high-flyers are out to impress.  This is manifesting itself as more employees work outside normal hours while they’re commuting.

“Many commuters choose to relax and unwind from work while travelling in order to maximise their work/life balance, however, a growing number of savvy Londoners are using their commute to extend their working day and become more productive.  

“The growth of new technologies such as smartphones and tablets mean it’s easier than ever to work around the clock. However, it’s critical employers ensure their staff are able to switch off. Our analysis of the British workforce last year shows the average Brit already feels they’re spread too thin, having to work the equivalent of a six and a half day week. In the long-run, there is a danger of staff burning out if they’re unable to disengage from work completely”

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[i] Research of 2,000 consumers conducted by Canadean Research between 28th March and 1st April 2013 – further details available on request

[ii] Historic fares from TFL http://londonist.com/2011/11/london-transport-fares-2000-2012.php

Current fares http://www.tfl.gov.uk/tickets/14416.aspx

Savvy “Super Commuters” spend time wisely…

Britain’s workers are using their commutes to become more productive, according to research by recruiter Randstad.

In a survey of over 2,000 British workers, the number of employees who work while they commute has risen from 4.8% in 2008 to 7.5% in 2013[i].

18% of British workers feel that the development of smartphones and tablets has made it easier for them to work while they travel, should they want or need to.  But one in ten (9.2%) say that new technology has increased the pressure on them to get work done on their journey to and from work.

Mark Bull, UK CEO of Randstad, said: “Time is the vital currency of commuting: how much of it you spend—and how you spend it—reveals a great deal about how much you think it is worth.  Many commuters choose to relax and unwind from work while travelling in order to maximise their work/life balance, however, a growing number of savvy Brits are using their commute to extend their working day and become more productive. 

“In a tough economic environment, employees are under pressure to demonstrate their value to their employer and committed high-flyers are out to impress.  This is manifesting itself as more employees work outside normal hours while they’re commuting.  The growth of new technologies such as smartphones and tablets means it’s easier than ever to work around the clock.  Our analysis shows the average Brit already feels they’re spread too thin by having to work the equivalent of a six and a half day week.  Working on the move looks like a smart way of using downtime to increase productivity and improve your work / life balance to get home as soon as possible rather than staying in the office longer.”

Commuting Times & The Rise of “Extreme Commuters”

The average British worker commutes for a total of 41 minutes each day and has to travel a total of just under 17 miles on their daily trip to and from work.  British commuters are spending marginally less time (2.3%) on the move than they were before the economic downturn began to take hold.  In 2008, the average British commute took a total of 42 minutes each day.

There has, however, been a larger fall in the distance British workers have to travel to work. In 2008 the average total daily commuting distance was 18.5 miles.  This has now fallen to 16.7 miles, a drop of 10%.  While the fall in commuting distance shows Britain’s workers are now living closer to their workplace, the fact commuting times have remained broadly the same suggests commuters are managing their commutes and using slower – possibly cheaper – modes of transport than they were before the downturn.

Of all the professions and trades, accountants spend the most time commuting each day and have some of the furthest total distances to travel. On average accountants spend 76 minutes on their journey to and from work and have to travel an average of 35.2 miles each day.  Workers in the automotive industry spend the least time commuting each day at an average of 22 minutes, possibly due to many automotive companies being based in large industrial or business parks on the outskirts of towns and are therefore easily accessible.  Those in the leisure sector have the least total distance to travel each day at just 12.6 miles.

Over the same period, the number of “extreme commuters” – those travelling more than 90 minutes each way – has increased by 50%, from just over one in twenty (6%), to almost one in ten (9%).

Mark Bull, said: “Commuting is the interaction of demography with geography.  With the force of suburban growth now overpowering, three hours of commuting a day is no longer extraordinary.  Commuters travel across counties the way they used to travel across neighbourhoods.  These numbers suggest the number of British people who travel ninety minutes or more each way to get to work — “extreme commuters”— has now reached 1,840,000.

The central tenet of the commuting life is that you travel away from the workplace until you reach an area where you can afford to buy a house that meets your standards.  Although there are other variables like schools and spouses and occasional exceptions in this equation you’re essentially trading time for space, miles for square feet.  Some workers clearly feel the benefits outweigh the inconveniences and potentially squandered hours more than others.  While accountants have the longest and furthest daily commutes, this may be down to the fact these money-savvy professionals are choosing to live further from work in order to get good value homes and a lower average cost of living.”

Commuting Activities

While working on a laptop, Smartphone or tablet is how 7.5% of Britain’s workforce spend their time on their journeys to and from work, listening to music is by far the most popular commuting activity.  Nearly a third (31.6%) of commuters listen to music on the radio while a quarter (25%) listen to their own music while travelling.

However, when drivers are excluded from the analysis, the most popular activities among commuters are listening to their own music (15.2%) and reading a newspaper, magazine or book (14.5%). Only 5.7% of commuters read a newspaper, magazine or book on a smartphone, tablet or e-reader.

Mark Bull, said: “With so many Brits driving to and from work, listening to the radio, CDs or MP3s is all they can do apart from focussing on the road.  However, for those whom commuting is an idle time it’s pleasing to see that working hasn’t overtaken other activities.  While it’s good for Britain’s workforce to be as productive as possible, the last thing the country needs is a nation of burnt-out employees.”

Methods of Travel

The car is Britain’s favourite method of transport of choice when it comes to commuting.  53% of Brits use a car to get to and from work. The train, underground or tube is the next most popular with 10.6% choosing this method.  The bus is the third most popular with 10.2%.

[i] Research of 2,374 consumers conducted by Canadean Research and Randstad  between 28^th March and 12^th April 2013 – further details available on request

Randstad Sourceright Named a Star Performer and Leader in Everest Group PEAK Matrix for RPO

Company Recognised for High Levels of Market Success and
Delivery Capability of Recruitment Process Outsourcing Services

 

LONDON, 1^st May 2013 – Randstad Sourceright, a global talent leader, today announced that it has been ranked as a Leader and Star Performer in the Everest Group PEAK Matrix, published in the 2013 Recruitment Process Outsourcing (RPO) – Service Provider Landscape with PEAK Matrix Assessment.

 

In this research, Everest Group assesses the $1.5 billion RPO market, focusing on the position and growth of 25 established RPO service providers.  Analysing such factors as rapidly changing market dynamics, emerging service provider trends, differentiating factors and service provider delivery capabilities, the report labels the providers in one of three categories: Leaders, Major Contenders and Emerging Players.  Due to strong market performance and delivery capability, Randstad Sourceright earned a position in the Leaders quartile for the third consecutive year. The company was also named a Star Performer, a designation that recognises service providers for their improved year-on-year movement on the PEAK Matrix.

 

Everest Group categorised the RPO service providers based on two key dimensions: delivery capability and market success. Randstad Sourceright earned its distinction as a Leader and Star Performer due to its high score on overall delivery capability, based on the company’s scale, scope, technology capability, delivery footprint and buyer satisfaction. In addition, the company received a high rating for its market success, as measured by a combination of its total number of RPO clients, revenue from RPO and total number of hires managed per year.

 

“Randstad Sourceright demonstrated significant market success and delivery capability, both in terms of overall portfolio as well as year-on-year advancements, to achieve the recognition of a Leader and a Star Performer,” said Rajesh Ranjan, vice president and leader of Everest Group’s Business Process Outsourcing research programme. “Specific investments to increase depth of service offerings (through creation of targeted Centers of Expertise) and creation of a scalable and flexible delivery model (by combining in-country capabilities with centralised shared services delivery locations) are most noteworthy.” 

“As the demand for talent is becoming even fiercer, requiring more tactical and innovative recruitment solutions, organisations are turning to RPO providers to deliver on this expertise,” Sebastian O’Connell, UK managing director, Randstad Sourceright comments. “Our ability to culturally align ourselves with our clients, providing a true partnership further enhances our delivery capabilities, enabling organisations to attract the best possible talent and meet their business objectives.”