It's a number's game

We have compiled a weekly round-up of HR and business news in numbers: 

0.2% - UK growth contracted 0.2% in the last three months of 2011. What does 2012 hold for everyone?

£300 could be what businesses in a Scottish city are charged for their own parking spaces provided to employees. A reserved car parking space at work is often highly prized... Early bird catches the worm!

At the time of writing, it is 182 days, 10 hours, 56 minutes and 6 seconds until the British Olympic Games begin.  Basically, it is 6 months today that the hype of the Olympics will reach its peak. There could be an opportunity for your business to take advantage of the Olympics, but also be aware of employees wanting time off to attend /watch/volunteer at the games, so plan ahead.

£963,000 - The bonus paid to RBS chief Stephen Hester, who will be receiving the hefty sum as a bonus in shares. It has caused an outcry given the bailout provided to RBS and their ongoing cost cutting exercises.

2.69 million is the unfortunate number of rising UK unemployment. Without wearing rose coloured glasses, it is positive that the government has announced its’ Youth Contract to help and support employers in recruiting young people. This needs to get moving quickly.

£68 million is the substantial amount of compensation given to ex-Woolworths staff. An employment tribunal ruled that administrators had failed to follow redundancy procedures and awarded ex-workers a protected award for failing to consult.

£158 million - You will read more information about salary sacrifice schemes in our upcoming newsletter (which you can subscribe to here for free) but this week we find recruitment firm Reed could lose up to £158m in a ruling in a tribunal that it’s tax bills were incorrect when providing a salary sacrifice scheme to its’ temporary workers.

£1 trillion – British debt hits £1 trillion mark in December.

Difficult to comprehend really because written out it is - £1,000,000,000,000

Balancing the books is always a priority!

Youthful encouragement

Youth unemployment is already a growing problem and the Government are concerned that 16-24 year olds may become a ‘lost generation’ to the current and future workforce. This demographic has record high unemployment figures across the board, a staggering 1.02 million. Therefore much debate has started about how to create more jobs in general, but a focus has been placed on the younger generation in recent government initiatives.

This year we will see the launch of the £1 billion ‘Youth Contract’ which will provide 410,000 work places over a 3 year period for 18-24 year olds, with wage subsidies worth £2,275 handed to employers to take on 160,000 young people through The Work Programme. The subsidy will certainly be useful in its encouragement to get any size employer to take employee(s) on through this scheme and provide vital experience. More details need to emerge about the scheme in general but it is a positive step forward. The scheme will be open to the voluntary sector and there are also payment incentives to provide apprenticeships.

The HR Dept is encouraging business owners to sign up via a new website to get more information about the scheme when more details emerge.

For further information click here

Unemployed youth: Disillusioned or misunderstood?

The HR Dept is disappointed and concerned to see that figures of youth unemployment have recently reached record highs. We recognise that the majority of unemployed 16-24 year olds do make every effort to get on the job ladder, but at the moment there are limited opportunities. However, Conservative politician Norman Tebbit has gone further and criticised the lack of ‘get up and go’ from UK graduates, sparking an interesting debate on motivation of the younger UK workforce at a time of high unemployment generally.

The reality is though, that the figures are likely to get worse before they get better. The Government will launch a £1 billion ‘youth contract’ to fund six month work placements for up 410,000 individuals. This is very positive, as it is so often the case that young workers have the theoretical knowledge but not the practical application. It has the potential to help build a younger worker’s confidence as everyone remembers their first day of work as it can be daunting stepping into an unknown environment! Once we know more about it, we will put more information out.

Find something you enjoy and are good at and you will hit the ground running

The critical point about younger workers disillusionment with the working world can be highlighted with some research we discovered recently - finding that a staggering 48% of people aged 16-24 said they would not work for a firm that prohibited social media use. Whether for work purpose or not, it shows a new trend of younger individuals looking to use social media in every part of their lives, whether it be personal or working.

Advice is to any young worker looking for their first role:

Look for something you want to get involved in or a role which you can match your skills against and present yourself as a positive, hard working and ambitious candidate and deliver on that promise.