Pay hikes at two-year high as rising inflation feeds through

first_img Previous Article Next Article Pay hikes at two-year high as rising inflation feeds throughOn 6 Mar 2001 in Personnel Today Pay awardshave hit a two-year high, according to research by independent analystsIndustrial Relations Services. Settlementsincreased dramatically to 3.4 per cent in the three months to January 2001 – arise of 0.4 per cent from December. The IRSmeasure stands at its highest since November 1998. Half of all pay deals arenow worth between 3 and 3.7 per cent, up from between 2.8 and 3.5 per cent inDecember 2000. Reportauthor Jeremy Baugh said, “The upturn in January deals reflects the impact ofhigher headline inflation in the final quarter of last year, which has fedthrough into rising settlement levels in the early part of 2001.”Almost aquarter of deals are now pitched at 4 per cent or above, compared with 15 percent of deals for the previous quarter. At the same time, there has been a fallin the proportion of settlements below 3 per cent, from nearly a third to justover a tenth. Baughsaid, “Falling inflation, the predicted slowdown in the UK economy and thecontinuing pressure on employers to deliver low-cost competitive pay deals areall likely to help restrain demands at the negotiating table and mitigateagainst higher settlements in the coming months.“Theevidence at the start of the busy January wage round suggests that downwardwage pressures will intensify, raising the prospect of a fall in basic payawards in the months ahead.”The IRSmonthly pay analysis is based on 85 basic pay reviews, in the three months toJanuary, covering 295,000 employees. MikeBroad Related posts:No related photos. Comments are closed. last_img read more

Relocation spend ensures smooth transition

first_imgRelated posts:No related photos. Comments are closed. Previous Article Next Article Employers spend an average £12,000 on temporary accommodation, estate agentsand legal fees every time they relocate a member of staff within the UK. A study by IRS Employment Review finds that more than a third of companies willbe increasingly likely to relocate staff over the next three years, compared toone in 10 which anticipate a reduction in staff relocation. Nearly half of the 48 companies surveyed expect to increase theirinternational relocation of staff, while just 12 per cent think this activitywill decrease. The cost of relocating staff internationally has risen from £12,500 threeyears ago to £15,000, while the cost of UK staff relocation has fallen from£15,000 to £12,000 per employee over the same period. The research shows staff are less likely to want to relocate than they werethree years ago, mainly because developments in IT and communications have madeteleworking a viable option. Mark Crail, managing editor of IRS Employment Review, believes spendingmoney on staff relocation to make the process as painless as possible is aworthwhile investment. He said: “It costs companies a great deal to relocate staff. Those whodo it well invest in making the move as easy as possible for their employeesand their families – particularly when the move takes them abroad. At a timewhen specialist skills are in short supply this is a good investment with realbenefits to both sides.” Relocation spend ensures smooth transitionOn 12 Mar 2002 in Personnel Todaylast_img read more

Too much law, not enough fairness?

first_imgRelated posts:No related photos. Comments are closed. Previous Article Next Article Too much law, not enough fairness?On 24 Sep 2002 in Personnel Today Despite the warnings of doom, employment regulation has not lengthened thedole queues, writes Stephen OverellUnemployment sits at a 27-year low. On the International Labour Organ-ization measure, the UK has lower unemployment than the US1. The Organisationfor Economic Co-operation and Development – the rich nations’ club – says thatwhile the British economy has slowed over the past year, it remains among thestrongest in the developed world and is as yet ‘lightly regulated’. However, after five years of Tony Blair’s government ‘talking right andacting left’, UK employers have been subjected to an unprecedented barrage ofnew laws. During 1998 and 1999, there were 11 pieces of employment legislation– the same number as there were in the 20 years between 1976 and 1996 (and someof these were Mrs Thatcher’s deregulatory measures). Europe is only partlyresponsible. Since 1997, 60 per cent of employment legislation has beendomestically inspired2. Another great dollop is coming next year. What should we conclude? Hopefully, that the Jeremiahs were wrong –pathetically wrong. The point at which Britain becomes an unattractive place toemploy people is still a distant spot on the horizon, while the relationshipbetween regulation and employability is evidently not the one marketed byemployers’ organisations. Predictions of doom and increasingly hysterical calculations of the cost oflabour market regulation – £6bn a year according to the Institute of Directors;£12.3bn and £15bn since 1997, according to the CBI and British Chambers ofCommerce respectively – have yet to have much impact on the real world. The same is true of other laissez faire votaries in academia. In a 1999paper for the right-wing think-tank the Centre for Policy Studies, two orthodoxeconomists, Patrick Minford and Andrew Haldenby, argued the attempt to import‘fairness’ into the labour market would compromise efficiency3. They said fiveproposed reforms of 1999 (including the minimum wage, trade union recognitionand the Working Time Directive) would add £2.7bn to employers’ annual bills –very thrifty, by the standards of such ‘guesstimates’. And, in addition, theywould lengthen dole queues by some three-quarters of a million. Unfortunately, we cannot accurately say if unemployment would be lower thanit is today had the reforms not taken place. But on the broad point thateconomic performance has been harmed, well, it doesn’t seem to have happened aspredicted. Not yet, anyway. And besides, the economic case is only ever part of the story. One of theleast worthy attributes of many employers’ organisations is their enthusiasmfor cost-counting and their quietness on questions of the justice or otherwiseof labour market reform. Arguments of cost never worked with slavery, and theyare not much more effective against laws such as the national minimum wage(NMW). Curiously, the IoD, which says the NMW has been the most expensivesingle piece of legislation costing some £2.9bn, is not sure if it wants to seeit abolished. “We haven’t asked our members recently,” says aspokesman. It often seems that in opposing employment legislation in the way they do,employers’ organisations are merely defending their members’ interests just asmilitantly as the trade unions used to, without being able to see beyond aposition of narrow partisanship. Of course, employers instinctively hunger after a libertarian nirvana withoutinterference from busybody politicians. But 200 years after the Health andMorals of Apprentices Act of 1802 – the first ever attempt to regulate theemployment relationship – it is neither wise nor just to believe theconvenience with which workers can be hired and fired should be the overridingpreoccupation of the law. The balance between the best legal framework in whichto be employed, weighed against the best legal framework in which to employpeople, is a subtle one that demands near constant adjustment. However, arguing the employment relationship is fractionally fairer now thanit was in 1997, is not to deny that employers have had a lot to put up with.Nor is it to suggest that all of the new rights are particularly urgent orworthwhile. Rights always mean corresponding responsibilities for someone, andemployment laws are the time-honoured way for governments to pass the hat roundfor social engineering projects. With the majority of workers now employed in organisations of less than 15people, the ‘average’ business now spends £9,0004 a year administeringworkplace laws. Legislating at the pace New Labour has, inevitably createsproblems. The Better Regulation Task Force’s report this summer was the firstauthoritative acknowledgement of the feeling among employers that they arecats-cradled in regulation. In a telling line from its report, it said: “When we asked them aboutthis, government officials said it would be impossible for them to knoweverything about the employment regulations implemented by all departments –but that is what is expected of employers.” Yet a gathering trend in employment law seems to be that it is not justemployers who must bear the responsibility of increasing rights for some. Just as women have to work an extra five years to pay for the equalisationof retirement ages, so too it seems that workers without children will bearmuch of the burden of the flowering of new rights of parents. Rights toflexible working, enhanced maternity and paternity leave are all very well, butwill childless employees be happy to work late so that their colleagues canleave early to pick up their kids from school? As anyone who works full-time will know, part-timers usually mean more workfor everyone else. It is an instance of employment law becoming increasinglydivisive – possibly even discriminatory against the childless. The unspokenincentives for employing white, able-bodied and preferably celibate men, arestarting to loom large. Prior to 1997, Europe was the only hindrance to employers who wanted to usetheir power despotically. Tony Blair’s government has adjusted the employmentrelationship slightly in favour of employees, and, thus far, Britain can wellafford it. It’s just that there has been an awful lot of law for a very marginalincrease in fairness. 1 Office for National Statistics, press notice, 12 September 2 Employment Regulation: striking a balance, Better Regulation Task Force,2002 3 The Price of Fairness, Centre for Policy Studies, 1999 4 Federation of Small Businesses, 2002 Research Viewpoint plusRead related articles on this topic from XpertHR’s extensivedatabase free. Go to the Xperts XpertHR has more specialist HR information in one place than any otheronline information source in the UK for one subscription.Subscribe now, call 020 8652 4281 or visit our website: read more

Task force study will encourage pay reviews

first_imgTask force study will encourage pay reviewsOn 3 Jun 2003 in Personnel Today Related posts:No related photos. The Accounting for People Task Force’s study into the link between HRpolicies and the bottom line will encourage more employers to carry out equalpay reviews. Julie Mellor, chair of the Equal Opportunities Commission, is optimisticthat the task force’s intention to look at the impact of a range of indicators,including remuneration and fair employment, will persuade more firms to focuson equal pay. “The preliminary proposals of the task force are a clear signal toemployers that being able to account for the way you pay your staff is key togood business practice,” said Mellor. “Growing shareholder activism over ‘fat cat’ pay suggests the tide isturning,” she added. The Accounting for People Task Force was set up by the DTI to help employersmeasure the effectiveness of their human capital management policies. Task force chairwoman Denise Kingsmill will report to DTI secretary PatriciaHewitt in the autumn and produce guidelines that will help firms meet newreporting procedures called Operating and Financial Reviews under theforthcoming Companies Act. Previous Article Next Article Comments are closed. last_img read more

Engineering global success

first_imgMichael S. Salone, 40, is based in Paris as vice-president of learning anddevelopment for Alstom Transport. He explains his role in providingopportunities for staff worldwideWhat does your role involve? Providing the most opportunities for development of our people worldwide,while ensuring there is a contribution to the bottom line of the organisation.This involves traditional training, e-learning, performance management,succession planning, and change management. What are the best aspects of the job? Employees want to be active in the people development process, and in myrole I get to help them take charge. What is your current major training project or strategic push? First, the improvement of our virtual university – the Alstom LearningInstitute. Second, along with Cole-McKee Partnership, we’ve developed specialisedworkshops for the management teams, interactive communication tools forcascading, and a short interactive and information quiz online in ninelanguages. And third, the Alstom Leadership Programme – a traditional format ofdevelopment programmes designed to increase the competencies of our futureleaders. The thing that has made this different is the online Priority Planwhere employees interact with their managers to determine their developmentpriorities. What impact would you like to have on your organisation? As Alstom is made up of a lot of different company cultures, throughmergers, joint ventures and acquisitions, I would be extremely satisfied if oneday all employees spoke with one company voice while maintaining their localqualities. Learning and development plays a key role in making this happen. What did you want to do for a living when you were at school? As a boy growing up near the ocean in Florida, I always wanted to be JacquesCousteau’s replacement and become an oceanographer. The closest I’ve come tothat is living in France! How do you think your job will have changed in five years’ time? I don’t think the fundamentals of the job will have changed as much as thetools available. We will certainly have to be increasingly responsive andcheaper as a function. How do you get the best from people? By giving them my best and providing autonomy, respect, and achievablegoals. What is the most essential tool of your job? My gut! I have all the technology and a lot of HR experience, but ifsomething doesn’t look, sound, or feel right, there’s usually a good reason notto do it without checking it out more carefully. Which is the best management book you have ever read? I have lots of books but two stick out in my mind as nailing down theprinciples of management: In Search of Excellence (Thomas J Peters and Robert HWaterman, Jr) and The One Minute Manager (Spencer Johnson and Kenneth HBlanchard) are still my favourites. They’re basic, but powerful, and not sostuck on theory as much as reality. Describe your dream job Besides selling suntan lotion on the beach in St Tropez, I’d say I have mydream job right now. Engineering global successOn 1 Jun 2004 in Personnel Today Comments are closed. Previous Article Next Article Related posts:No related photos.last_img read more

Trust, The Rolling Stones and the internet

first_img Previous Article Next Article I’ve been thinking about trust, The Rolling Stones and the internet recently. When I wrote a Sales training course for the first time, I included something in there about helping your customer to understand that you think like they do. The unoriginal observation was that people trust the opinions of peers and are disinclined to […]Read full article Trust, The Rolling Stones and the internetShared from missc on 9 Nov 2015 in Personnel Today Related posts:No related photos. Comments are closed.last_img

Discovering the Next Great HR Technology Company

first_img Previous Article Next Article Comments are closed. Discovering the Next Great HR Technology CompanyShared from Steve Boese on 23 Jun 2016 in Personnel Today Quick break from the normal fare to give a quick update and share some information about the upcoming HR Technology Conference that will be held October 4 – 7, 2016 in Chicago.Read full article Related posts:No related photos.last_img

54% of NY restaurants expect to close in six months

first_imgMessage* Read moreNearly two-thirds of New York restaurants expect to close88% of NYC restaurants could not make October rentCuomo: Restaurants may have to close this week Full Name* Email Address* TagsCommercial Real EstateCoronavirusNYC RestaurantsRetail Real Estatecenter_img Share via Shortlink Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink “Our once-vibrant restaurant industry is suffering,” said Melissa Fleischut, president and CEO of NYSRA. (iStock, Getty, NYSRA) New York restaurants are faring worse than their counterparts in other states.Fifty-four percent of New York restaurants said they would likely not survive the next six months without federal relief, according to the most recent survey by the New York State Restaurant Association and the National Restaurant Association. That’s compared to 37 percent of restaurants nationwide.“Our once-vibrant restaurant industry is suffering,” said Melissa Fleischut, president and CEO of NYSRA. “Our members are in worse economic shape than most restaurants across the country, and today’s numbers make that picture crystal clear.”The industry groups surveyed 6,000 restaurant operators, 238 of which were located in New York, in the last two weeks of November. Of those, 78 percent of New York restaurants expect layoffs in the next three months, as opposed to 49 percent nationally. And 58 percent of New York’s restaurateurs, compared to 36 percent across the country, are considering halting operations until the pandemic passes.One in six restaurants nationwide are estimated to have closed in the past year, according to the National Restaurant Association, which — by NYSRA’s estimate — means 4,500 in New York City have already shuttered.Still, restaurant closures aren’t rare: A 2014 study found U.S. restaurants had a 5% to 15% likelihood of closing in a given year, depending on how long they had been open.The association also sent a letter to Gov. Andrew Cuomo, urging him to put pressure on the federal government for financial assistance for restaurants. The RESTAURANTS Act, which would provide such aid, was introduced in June, but there’s been little progress since. Congress is still hashing out a larger Covid-19 relief bill.But Congress may not act soon enough to save the city’s struggling restaurants: Earlier this week, Cuomo threatened to shut down indoor dining in New York City if the region’s rising rate of hospitalizations from Covid-19 has not stabilized after five days. As of Dec. 10, hospitalizations were still on the rise.Contact Sasha Joneslast_img read more

Bespoke Real Estate brokerage expands in South Florida

first_imgFull Name* Email Address* Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Cody and Zach Vichinsky with 119 Washington Avenue. (TCRE, Bespoke Real Estate) Luxury brokerage Bespoke Real Estate is expanding in South Florida with a new office in Miami Beach.The company, one of the top firms in the Hamptons, inked a lease for space at 119 Washington Avenue, as it plans to capitalize on the migration of ultra high-net worth individuals into South Florida, said Cody Vichinsky, co-founder and president of Bespoke, in an interview with The Real Deal.The firm is also ramping up in Miami with two exclusive listings, for nearly $50 million and $45 million, at Echo Brickell, a luxury condo tower developed by Property Markets Group.Bespoke’s new office on Washington Avenue is at the Yukon, which hit the market last year for $45 million. For Bespoke’s five-year lease, Cyril Bijaoui of The Company Real Estate represented the landlord, Yantra 119 LLC, which is led by Giulio Rangoni and Cinzia Zanella. Stefano Santoro of Current Real Estate Advisors represented Bespoke. Brandon Charnas and Oded Nachmani of Current were involved on the tenant’s side.The brokerage is paying $90 per square foot, blended, for a 2,300-square-foot space, Santoro said. That includes 1,700 square feet indoors and 600 square feet of outdoor space.Vichinsky said Bespoke’s marketing entity had been active in South Florida for several years, but that the company “made a hard shift over the past year” to expand in the Miami area. Vichinsky and his brother Zach co-founded Bespoke in 2014 and focus only on $10 million and up properties. The company has been collecting data on wealth migration to South Florida for years, Cody Vichinsky said.“We just felt that it was the right time for us to be able to enter the market in a meaningful way,” he added.The firm is active in Connecticut, Manhattan, the Gold Coast and the Caribbean. Bespoke differs from other brokerages in that it does not have independent agents, said Vichinsky, comparing it to an investment bank. Bespoke’s nearly 50 employees work under a salaried model.Ultra wealthy executives and celebrities have increasingly been buying luxury homes in Miami Beach, Indian Creek, Palm Beach and other high-end enclaves of South Florida, especially throughout the pandemic.Single-family home sales in Miami Beach and the barrier islands, including Bal Harbour, Bay Harbor Islands, Fisher Island, Golden Beach, Indian Creek, Key Biscayne, North Bay Village, Sunny Isles Beach and Surfside, surged in the fourth quarter by a whopping 195 percent, according to Douglas Elliman.Executives are also moving their companies or opening outposts in the region, propelled by the work from home movement and favorable tax environment.Last year, investment management firm J. Goldman & Co. signed a lease expansion at the Yukon for $92 per square foot, reportedly a record for South Florida.Contact Katherine Kallergis Message* Share via Shortlink TagsBespoke Real EstatebrokeragesMiami Beachlast_img read more

“There will be blood:” VTS’ Nick Romito on why landlords must embrace data

first_img Tags Share via Shortlink In this installment of the REInterview, TRD’s Hiten Samtani sat down with founder and CEO of VTS Nick Romito. He noted the office sector’s reputation as a steady, stable, unsexy source of income, and explained how all that could change.VTS began as a video-tour company (literally “View the Space”) and is now a cloud-based leasing and portfolio management system that was last valued at over $1 billion. It recently acquired Rise Buildings, an app that tracks the movement of tenants in a building, for $100 million.While many tech companies lean heavily on flashy rhetoric, Rise Buildings had a real estate background that proved invaluable in an industry that Romito says is “uniquely good at smelling bullcrap.”Romito discussed not only how Rise Buildings’ data illustrates the needs and preferences of commercial tenants, but how it could be used to create a consistent, lucrative “concierge landlord experience.”Watch the video above for more.(Write to Hiten Samtani at [email protected] To check out more of The REInterview, a series of his in-depth conversations with real estate leaders and newsmakers, click here.) Commercial Real EstateNick RomitoofficesThe REInterviewVideoVTS Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlinklast_img read more