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Insights

The Circular Economy: How it can benefit the business world as well as the planet

The environment is now firmly at the top of most government, and business agendas around the globe as individuals and organisations alike are highly aware of the need to tackle climate change and create sustainable solutions for energy and materials objectively and urgently. One of the most recent developments in this area is the concept of a circular economy and the benefits it could bring. What is a circular economy? A circular economy is a production and consumption model involving sharing, leasing, reusing, repairing, refurbishing and recycling existing materials and products to keep them circulating for as long as possible. Unlike a linear economy, which follows a ‘take-make-dispose’ pattern, the main aims of the circular model are to reduce waste, manage pollution and protect the environment. Examples of how this can work effectively in practice include designing electrical devices that are easier to repair or recycling plastic into pellets to be used to make new products. This has enormous benefits for the planet, but it also has positive implications for the business world. Economic benefits According to the World Resources Institute, plastic pollution currently leads to around $13 billion in costs and economic losses per year, with plastic in the ocean directly affecting industries such as fishing and tourism. Toxic emissions from burning plastic waste affect healthcare costs, and the fossil fuels needed for plastic production are expensive and negatively impact the environment. Organisations focusing on reducing waste and reusing materials may see significant cost savings and avoid fines and duties such as the plastic packaging tax. In addition, investors are becoming increasingly conscious of making socially responsible investments. ESG is high on their list of priorities in the decision-making process and companies who can display sound ESG credentials about how they are supporting the environment, such as through involvement in circular economy practices, are more likely to secure investment. A circular model can also benefit the economy at a consumer level. With the ongoing cost-of-living crisis, initiatives involving reusing, renting and reselling can help individuals save much-needed funds, creating more disposable income in the long term. This money will then be injected into the economy through spending on leisure activities which would otherwise have suffered due to consumers tightening their belts. A boost for the job market Another business win for the circular economy model is employment. A recent government report predicts that a transition to a circular economy could create almost half a million new jobs in the UK alone by 2035, with global forecasts of around 18 million new green jobs and over 65 million new low-carbon jobs by 2030. That’s not to say that some linear jobs won’t be lost along the way, and as such, companies should be aware of relocating and upskilling staff who may be needed for different tasks from the ones they were initially employed. An industry that is likely to see significant growth in a circular economy is green tech. Innovation will be encouraged to find new and resourceful ways to implement the principles of creating circular economy products. This has already been supported and incentivised by 40 nations around the globe, who all committed to a proposal at COP26 to make green tech cheaper than environmentally unfriendly alternatives. Other growth areas include compliance and governance, which could also flourish as continual strategy planning and monitoring will be necessary to ensure that business practices are sustainable and capitalise on circular economy efficiencies. Additionally, businesses that transition to a circular economy model could also find unexpected benefits in recruiting and retaining talent. Over two-thirds of all workers are now reported to consider a company’s CSR stance when deciding where to work, with 70% of millennials even willing to take a pay cut to work for a socially responsible company. So, employers who adopt a circular model could highlight their business as an attractive workplace. In summary, it would seem that a circular economy could be a win-win situation for consumers, organisations and the planet and perhaps will be the next step in the evolution of sustainable business practices. If you are a compliance, governance or green tech professional looking for your next career move or looking to employ top talent to build your environmentally friendly team, contact McGregor Boyall and find out how our expert recruiters can help.

Insights

How to stand out from the crowd when Interviewing

It's a great feeling when you make it through the application process and get the opportunity to progress to the interview stage. But it's unlikely that you are the only one who has been selected. So, how can you make the best use of the time with your potential new employer to show that you are the best candidate for the job? Getting the basics right It is imperative to master the fundamentals to make a good first impression on any potential employer, and it is the minimum you should be aiming for to create a confident and successful start to any interview. A candidate who falls short of these basic expectations is unlikely to be taken forward in the process or offered the job. Do your research: In advance of any interview, ensure that you undertake some research on the company. Get an idea of the organisation's history, culture, business areas, and the people who work there. Knowing a bit about the business shows the interviewer that you have initiative and are interested in the role. Most company information can be found on their website, and some information about a company's leadership team may also be available on corporate social media platforms such as LinkedIn. Review the job description: Check how your specific skills and experience match those required for the position and note any transferable skills that you possess which could assist in areas of the role where you have less experience or where they can add additional value. When preparing your thoughts on how you might add value to the company, you should consider how your interests, passions and talents align with the role, how your values fit with those of the company and how your aspirations and career goals relate to the position you are applying. Look the part: Whether face-to-face or online, it is vital to present yourself professionally. Follow any dress code specified, or where no prior details are given, it is advisable to dress smartly as this will generally always be well received. While many offices are now more casual than pre-Covid, you are still far more likely to make a good impression if you are overdressed than underdressed. Even for video interviews, professional attire will have a positive impact and can boost your confidence and help you focus on the conversation. Be prepared: For face-to-face interviews, always check that you know the exact location of the offices and your travel arrangements before you set off. Aim to arrive around ten minutes early so that you don't turn up flustered. Arriving in a rush will make you look disorganised and can dent your confidence and focus at the start of the interview. Also, ensure you have all the items you need, perhaps a copy of your CV or a pre-prepared presentation. For online interviews, again, punctuality is essential - there is even less excuse to be late for a virtual meeting than for a face-to-face one. In anticipation of anything which could cause a delay or look unprofessional, always check your internet connection and test your sound and software in advance. Have the interviewer's contact details to hand to ensure you can make contact quickly should you lose connection. Ensure you find a quiet space for the duration of the meeting and, to maintain professionalism, be aware of what might be in the background of your video frame. If your environment is busy, your interviewer may find it more challenging to focus on what you are saying. Managing nerves It's natural to feel nervous before an interview, so being organised by getting the basics right will be a positive first step to calming yourself, as you should arrive on time and with everything you need. If you are concerned about anxiety getting the better of you, try practising some stress relieving techniques in advance, such as deep breathing exercises, or you may want to try some other ways to alleviate nerves. And above all, try to focus on the fact that you have been invited to attend the interview in the first place, which means that the company already recognises that you have something to offer them, they value your skills and experience and are interested in what you have to say. Self-awareness Being self-aware is a big step toward a successful interview. Consider how the job you are interviewing for aligns with your career goals and passions, and be aware of how you conduct yourself in an interview situation. Authenticity can play a big part in self-awareness. If you cannot be your authentic self at work, it can affect your happiness, job satisfaction, relationships with co-workers, confidence and overall career success. So, with this in mind, you should aim to be authentic from the start, which includes your interview. Showing an interviewer the real you from the outset will allow you to be your true self at work (once you hopefully secure the position). Another critical aspect is an awareness of your physical behaviour and how that can affect the success of an interview. In a face-to-face situation, positive body language can help form a subconscious connection with the interviewer, such as maintaining eye contact and nodding when the interviewer is providing information. Equally, negative body language, such as folded arms or fidgeting, can have a detrimental effect, suggesting to your potential employer that you are bored or distant. Body language can still play an important role if you are interviewing online. Be aware of where you're sitting in relation to the camera – being too close can feel unnatural while being too far away could impact how well you're heard. Having your head and upper body in the shot is recommended. Finally, showing enthusiasm and speaking in a positive tone can work wonders in an interview. Sounding like you are excited by the role on offer will demonstrate to the interviewer that you are keen to be a part of the company and suggests that you would make a good co-worker for existing employees. Questions When preparing for an interview, take some time to think about what you might get asked. For instance, it can be a good idea to write some notes about where you want your career to be in 1, 3 and 5 years and try to be specific about how you would like to achieve your goals to show you have ambition. If you have any gaps in your CV, be prepared to discuss them. Always be as honest as possible and mention what you did with the time you were not in paid work and the skills you gained from it, whether it was personal development, volunteering, caregiving or even a hobby, to put a positive spin on the pause in your employment. For some of the most awkward interview questions, you may want to do some further research before the meeting to have some answers ready. These articles give some additional advice on responding to even the trickiest of interrogations! how-to-handle-awkward-interview-questions-part-1 & how-to-handle-awkward-interview-questions-part-2. The National Careers Service also offer guidance about using the STAR technique to formulate meaningful answers that give examples of how you have handled work situations to achieve a positive outcome. In any interview, you are also likely to be allowed to ask questions. This is a genuine chance to find out information and shows the interviewer if you are serious about the job and the company. Try to have some insightful questions prepared in advance, which perhaps show that you are interested in the business's future success or would like to know something meaningful such as finding out about their CSR policy. Curiosity about the business will help show your interest in the organisation and how your role would assist the company in achieving its goals. Try to avoid asking questions which focus on personal gain, e.g. 'how much holiday do I get?', especially at a first-round interview, as this could suggest to the interviewer that you are less enthused by their company and only want 'a job'. At the end of the interview Hopefully, you will feel the interview went well, but however the session played out, always remember to thank the interviewer for their time and ask about the next steps and when you are likely to hear from them. This reinforces that you are keen to move forward if they are left unsure of your interest in the job. You may also want to follow up with an email or phone call a few days after the interview. This can help cement the idea that you are genuinely keen. You can use the opportunity to thank your interviewer for their time again, ask if they have any further questions which may not have been covered in your interview and let them know that you are looking forward to hearing from them. This reminds them of your interest in the job and, perhaps more importantly, of you personally compared to the sea of other candidates they may have met. For more interview advice and help finding your next career move, contact our expert recruitment team at McGregor Boyall today.

Insights

Is the US big tech slowdown just a tempest in a teapot?

Big Tech, the collective term for the largest and most influential technology companies in the world, is generally considered to include; Apple, Amazon, Google, Meta (formerly Facebook) and Microsoft, with some also counting Twitter, Netflix and Tesla amongst its rankings. These US firms, which have always been highly profitable and enjoyed vast and rapid growth over the past decade, are suddenly experiencing a period of change. Reports from Big Tech companies suggest a slowing and, in some cases, even a freeze on recruitment and a downturn in profits across the board in what is usually one of the most prosperous industries on the planet. Quarterly reporting at the end of July 2022 saw Apple sales drop by 10% and Meta sales drop for the first time, with CEO Mark Zuckerberg stating that he will be introducing austerity measures to "get more done with fewer resources." The concern for the business world is that an economic recession in the tech sector and especially in the Big Tech companies, creates uncertainty not just in tech but in other industries as well which could cause widespread panic, leading to a drop in share prices, loss of investment and a self-fulfilling prophecy of financial collapse for many organisations. But are businesses right to be worried? Why the downturn? Several factors have affected the sector recently, including global economic pressures caused by the war in Ukraine and subsequent sanctions and hostilities with Russia, pushing the price of energy and goods and creating a cost-of-living crisis. The rising costs affect businesses directly as they see their overheads soar and also reduce customers' buying power, which obviously affects sales revenue. For example, recent research shows that there has been a substantial reduction in online advertising sales, especially on social media, which is causing issues for both Meta and Google. Research company Magna estimated that the US digital ad market increased by only 11% in the second quarter of 2022, compared to 58% in the same period last year. However, another viewpoint is that this 'downturn' is, in fact, just a return to more 'normal' times. Big Tech companies saw unprecedented growth during the lockdown as everything went online, meaning they were one of the few sectors to prosper from the pandemic. Recruitment increased in these companies to keep up with consumer demand, and investors flocked to get a slice of the action. But, as the world returned to life outside of lockdown, there was always likely to be a levelling off of growth in the tech sector, with people having the choice to be able to shop, socialise and communicate offline again. Not all bad news So, while the slowdown is undoubtedly not a work of fiction, perhaps the outlook is not as bleak as it first appears. A slowdown in recruitment and a reduction in profits doesn't necessarily mean that Big Tech is collapsing. Perhaps it could be thought of as more of a streamlining of their services to operate efficiently and provide for reduced post-Covid customer demand. Also, while Big Tech growth may be slowing, Reuters reported last month that some results published by Google and Microsoft are not as bad as predicted, helping to restore confidence in the market and suggesting that Big Tech could survive a recession, which is good news for all businesses, as investor confidence could help to avoid industry panic. Wall Street seems to be getting behind Big Tech, too, as analysts remain cautiously optimistic about Big Tech stock, with the majority of experts predicting that companies like Apple, Microsoft and Google can continue to post substantial profits in the long run. Could there even be an upside? Odd as it may sound, the Big Tech slowdown could even have some unforeseen positives. For starters, investors can now buy shares in some of the biggest companies at a more attractive entry point, as Lindsey Bell, Chief Markets and Money Strategist for Ally, also identified that "there are some encouraging signs" in the market. Secondly, over the last couple of years, recruitment and retention have been a significant issue for many companies with far more jobs available than candidates to fill them, causing staff shortages and skills gaps. Perhaps a slowing of recruitment in Big Tech, with a ripple effect on smaller tech companies and across other industries, could help ease the war for talent with more tech professionals becoming available, helping to balance out the recruitment sector again and give employers back some control over the recruitment process and retention of good employees. Big Tech could be in for a rough ride over the coming months. Still, hopefully, judging by the results filtering through so far and Wall Street's continued confidence in the sector, it is one which they can survive and perhaps even come out the other side of as more efficient businesses than before. If you are looking for your next tech career move or if you are looking for tech professionals to join your team, contact our expert US recruitment team at McGreggor Boyall today and find out how we can help you

Insights

Are ageist stereotypes affecting the job market?

The post-pandemic world of work is well on the road to recovery, but it would seem that certain sections of society are being left behind and are still struggling to find employment. At the height of lockdown, workers over 50 were far more likely to be made redundant than younger employees, and their chances of re-employment within six months were half that of the under the 50s. Many people coined the phrase 'the great retirement' as it seemed that perhaps the older generation was using the pandemic as an excuse to take early retirement out of choice – and no doubt some did - but it would seem that many couldn't find suitable new roles and still can't, even though there continues to be a talent shortage. According to the Institute for Economic Equity, there were 3.3 million more retirees in October 2021 than in January 2020, a massive 7% increase. While some older workers may have decided not to return to the office due to Covid health concerns or perhaps because they didn't need the money and genuinely wanted to retire, recent research shows that others felt pressured into taking the option of retirement with companies either edging them out of existing roles or rejecting them for new ones. Until the pandemic, the participation of over 50s in the workforce had been growing, and this sharp reversal sees much wisdom and experience disappearing from the industry as the older generation remains outside of the business world. Why are companies reluctant to re-employ older workers, and why are so many over 50s choosing not to stay in the workplace? It would seem that there are two issues. While D,E&I is a primary focus for organisations across the globe and great strides are being made to tackle vital issues such as sexism, gender identity and race, many companies overlook ageism when it comes to inclusivity. Firstly, this creates issues around recruitment, where managers may choose not to hire or promote older workers because of preconceptions that they will be too expensive, not want to learn new skills or not be digitally proficient. Secondly, older workers may not feel valued and respected in their roles and are not being offered benefits which pique their interest or feel relevant to them. According to a recent report by McKenzie-Delis, only 14% of companies have training geared towards older workers, and many employers wrongly assume that more senior staff are not interested in career progression and personal development. Constantly being overlooked for meaningful new projects or opportunities to progress at work can leave older staff feeling demotivated and disengaged, making the option of early retirement an appealing alternative. What can companies do to help resolve the issue? Not considering older workers when recruiting and not being aware of how to retain those over 50 in their current roles adds to the headache for HR teams when trying to stem the flow of talent loss. Companies should perhaps now look at strategies to attract older candidates and review how to make their working environment attractive enough to encourage them to stay in post. Initiatives such as inclusion training, focussing on ageism, and ensuring that equal training and development opportunities are offered to those of an older generation could be a step forward for businesses that want to make their more mature employees feel valued. When thinking about recruitment, job adverts can be worded inclusively, maybe avoiding tech-heavy, modern jargon which could be off-putting for older applicants who may believe that the role is implying that it is not aimed at them and that they would be unsuccessful in the process. Not forgetting the other end of the scale Remember that the youngest people in the workforce can also suffer. During the pandemic, there were significant issues for graduates where companies faced recruitment freezes and, in some cases, graduate training programmes were paused or cancelled altogether. Many young people who left university during this time found difficulty in securing employment in their chosen field. This has led many young workers to have extended CV Gaps and lack experience in their sector. The good news is that graduate job vacancies are now 20% higher than pre-pandemic. However, many graduates are still facing a tricky situation where they often have no practical experience in their industry and long periods out of work, making them a less attractive proposition to employers. In addition, research shows that the quality of applicants has dropped, perhaps because some graduates have opted for a different career path if they were able to secure employment elsewhere during the pandemic and have not returned to graduate-level work since. Alongside this, those who had to study for their degrees from home during lockdown perhaps had a lower standard of education and a less enriched experience of being at university, leaving them less equipped for work. Unfortunately, this feeds into the age-old stereotype and vicious cycle that school leavers and graduates don't have enough experience to secure a job even though they can't get experience if no one gives them a job. Although things are looking less bleak for the youngest workers, it could be time for businesses to consider hiring policies for those caught up in the pandemic years and look past the CV gaps. Instead, consider how they could pick up some top talent willing and able to learn and develop new skills quickly to help solve some of their recruitment issues. To summarise much can be done to address ageism in the workplace, and the benefits could be far-reaching for employees at either end of the working age spectrum and for businesses that may find it easier to retain top professionals and recruit new talent to fill staffing gaps. If you are looking to recruit new team members or if you are looking for your next career move, contact our expert recruitment team at McGregor Boyall today and find out how we can help you.

News

McGregor Boyall expands operations into North America

East Coast, USA: September 1st 2022 Global recruitment specialists McGregor Boyall have expanded their presence by launching operations on the East Coast, USA. According to reports, the Technology sector in the USA is the biggest in the world. It accounts for more than 8% of all regional jobs, with more than 12 million people working within the industry and an estimated market value of more than $1.6 trillion. The continued success of the region's technology sector and McGregor Boyall's desire to grow meant that North America was the next logical location for global expansion. International Managing Director Richard Lett, who will head up operations in North America, commented on the expansion: “Our expansion into North America has come about due to the increased demand for primarily technology talent from our clients whom we have been fortunate enough to support successfully for many years. We are very excited about expanding our recruitment services even further into the US and bringing the same success to our existing and new client partners based in North America”. Richard launched our Middle East operation ten years ago and will now focus on establishing and growing McGregor Boyall's presence on the East Coast, USA. Richard has over 20 years of recruitment experience and joined McGregor Boyall in 2012. McGregor Boyall North America will focus on Technology verticals initially, primarily in the financial services sector. Long-term demand for talent in the Technology and Financial Services sectors will remain high – and it is in response to this that McGregor Boyall supports its clients in these areas.

Insights

The advancement of parental leave

Amongst the many ways organisations are looking to improve their diversity, equity and inclusion strategies, parental leave has become one of the latest company benefits to come under review. Currently, the law only requires maternity leave to be granted to the birth mother of a child - up to 52 weeks. In addition, for the past twenty years, fathers have also been given two weeks of paternity leave to help look after mother and baby, with a legal requirement to be paid at only half of the minimum wage. However, companies have the choice to pay more. While this may have seemed ground-breaking at the time it was introduced, it seems somewhat outdated in today’s diverse society. Only 32% of fathers claimed paternity leave in the UK last year, which researchers attribute to the rising cost of living compared to statutory paternity pay, which has not kept up with inflation, meaning that many families can’t afford to lose the income. As attitudes have changed around the role of fathers and the structure of families, businesses are beginning to realise that they must offer suitable parental leave options for all primary and secondary caregivers if they want to be genuinely inclusive. Ringing the Changes Employers are all too aware that in the war for talent, candidates can be picky about whom they work for, and having a solid D,E&I offering now ranks among the highest priorities for many employees, with around 50% of workers stating that they would move jobs to improve their wellbeing and work/life balance. This includes parental leave and LGBTQIA+ equity and inclusion, whereby organisations must recognise that parents can be non-heterosexual, different genders or non-gender conforming and that babies may be the product of birth, surrogacy or adoption. Companies’ parental leave policies should reflect this and offer equal time off for all parents, not just birth mothers. The good news is that according to a recent Employee Benefits poll, 69% of employers said that they are already offering equal parental leave for all parents, including surrogacy and adoption. The survey findings also showed that out of the remaining respondents, another 10% were considering implementing changes to their parental leave policies in the near future. Many companies are now getting on board with the idea, including insurance giant Aviva, who said they want to be recognised as having a ‘family-friendly culture’ as part of their D,E&I efforts. Their research identified that 80% of fathers working in the business had taken up to five months of parental leave, highlighting that secondary caregivers do want to take time off but can be hindered by the current unsuitable 2-week statutory legal offering for paternity leave. Another forward-thinking firm is the consumer health organisation, Haleon. With over 22,000 employees, the company announced last month that all of its staff, regardless of gender or sexuality, would be entitled to 26 weeks of fully paid parental leave, covering biological birth, surrogacy and adoption. Haleon cited the initiative as “a commitment to give equal opportunities for all of its employees to focus on raising a family, while safe in the knowledge that their careers can continue to flourish” as part of their more comprehensive D,E&I strategy to help make them an employer of choice. The future of parental benefits Now that organisations are levelling their parental leave across the caregiving spectrum, how else can companies further their offering to improve the employee experience? Global management consultants McKinsey seems to have come up with some answers in the form of two initiatives to extend parental benefits. The first is a re-boarding programme where staff are supported in transitioning back to work after a long period away from their job while on parental leave. It includes a re-integration scheme to help ensure returning employees can maintain their career growth rather than having to ‘play catchup’. The second initiative is a company healthcare package covering any complex medical procedures necessary for some same-sex couples to conceive. The company’s chief diversity and inclusion officer said, “We hope these changes allow parents to focus on family—then successfully return to doing the work they love.” It would appear that big business is on board with supporting families, which can be good for their staff recruitment and retention, help foster an inclusive work environment, and benefits employees, their families and hopefully society as a whole. If you are looking for talented individuals to help develop your D,E&I strategies, talk to our expert recruitment team at McGregor Boyall today. Visit their profiles here; Nina Adair, Kara Feller, Natasha Francis.

Insights

Should employers be worried about 'Quiet Quitters'?

A new trend is emerging in the work world, which may be of some concern to businesses worldwide. Known as 'Quiet Quitting', the idea, born out of TikTok posts and which some are saying was initially inspired by China's Lay Flat movement, is the practice of only doing the bare minimum required in your job description to achieve a better work/life balance. Thanks to social media, the trend has gone viral and can involve anything from turning down additional projects to refusing to answer work messages outside of working hours. The concept is that an individual is not actually 'quitting their job'; instead, they are quitting the notion of going above and beyond at work to reduce stress while still getting paid the same wages. Why are people becoming quiet quitters? Aside from the fashion to jump on the bandwagon of something trending online, there may be a valid reason behind this growing phenomenon. During lockdown, many people suffered burnout as they tried to juggle the pressures of work, family commitments and the mental stress of being confined to home. Conversely, others enjoyed the benefits of lockdown in the form of hybrid or remote working and greater family and leisure time, giving them a taste of what they had been missing out on when working long and antisocial hours over and above their contracted role before Covid. On returning to the office and more regular work routines, many individuals who had experienced a preferable work/life balance during the pandemic acknowledged that perhaps they didn't want to return to what they felt had been expected of them by their employers pre-Covid, such as volunteering for additional responsibilities or generally being available 24/7, and this is where the idea of quiet quitting was devised. Why not just change jobs? It is perhaps noteworthy to consider the fact that, at the start of the year, 31% of people surveyed had said they would quit their job even if they didn't have another one to go to and around 50% said that they would consider moving company to improve their wellbeing. However, this new trend for quiet quitting could suggest that with the continuing cost of living crisis and the recent slowing of the job market across many industries, people are becoming less blazé about leaving their jobs and instead are opting to reduce their commitment to their current position to retain some financial security while improving their wellbeing at work. Equally, it can be viewed that the trend is not just about disliking your job but more of a rebellion across the board about what companies expect from their staff as standard behaviour during and outside of working hours. A lose-lose situation? Presenteeism is vital to both productivity and company culture, and quiet quitters have made it clear that their aim is to be as disengaged as possible and only do what they have to to keep their job. In addition, a workforce including quiet quitters can create a hostile working environment where others may be influenced to follow suit, leading to a downward spiral of reduced productivity and deteriorating company culture. Perhaps the most significant issue could be for quiet quitters themselves. According to research, the overriding factor people now place importance on in their career is 'workplace happiness'. While many quiet quitters are using the trend as a protest against employee expectations, ultimately, some quiet quitters are just not happy in their roles, and quiet quitting (as opposed to actually quitting) could see people remain in jobs they dislike. In such cases, individuals would perhaps be better to find a role that engages them and is more aligned with their authentic selves. How can businesses combat quiet quitting? According to a recent Gallup survey, 60% of people are emotionally detached at work, and 19% are miserable. This lack of job satisfaction has been attributed to unmanageable workloads, lack of manager support and excessive time pressures, which spills over into leisure time, where unhappy employees will take their poor temperament and low morale home with them. Companies who want to improve employee engagement and create a positive work environment must address their D,E&I and CSR offerings to help improve mental health in the workplace and offer staff flexibility, fulfilment and support to enhance their wellbeing and reduce stress or anxiety caused by work. Business leaders should acknowledge the growing trend of quiet quitting and realise that the world has changed in the wake of the pandemic. Demonstrating an understanding that people want a better quality of life by encouraging workers to 'switch off' after a certain time at night and at the weekend, setting realistic targets and rewarding additional effort so that employees feel valued can all go a long way to boosting morale which in turn can improve productivity and engagement. For those already managing quiet quitters, expert advice suggests that rather than move straight to disciplinary proceedings, engagement may be able to be regained through conversation and support. A solution could be found if the employee can express their reasons for their dissatisfaction at work, and the business could retain an experienced employee. The future for quiet quitting While companies will always have a handful of employees who choose to do the least amount of work possible, the current trend for quiet quitting may be short-lived if it is just a reaction to how expectations at work have changed in the last couple of years. Providing that organisations address the problem head-on and take steps to deal with the causes, quiet quitting could be something we are talking about as a distant memory in a few months' time. However, businesses should be mindful that if they only pay lip service or try to ignore the problem completely, they could create long-term productivity issues as the quiet quitters continue to rebel. If you are looking for a role with a better work/life balance or if you are looking for top talent to join your team, contact our expert recruiters at McGregor Boyall today and find out how we can help you!

Insights

Dubai: Leading the way on CSR

As Corporate Social Responsibility (CSR) remains a top priority for employers and employees alike, the UAE continues to build its reputation as a forward-thinking, ESG-conscious centre for business. With the sustainable Expo City Dubai opening in just a few weeks, the region seems to be making its mark and attracting big business to the area on the back of its socially responsible credentials - Google, Apple and Samsung all have a presence there, to name but a few. CSR seems to be embedded in the philosophy of the region. Not content to leave it up to companies to implement their socially responsible activities, since 2008, the Dubai Chamber of Commerce has run its corporate volunteering programme, 'ENGAGE Dubai', to encourage the local business community to participate in CSR. This year, the programme's 'Give and Gain 2022' event seems to have been an enormous success, reportedly attracting almost 5,000 volunteers from 68 different organisations over a month. A whopping 17,460 volunteering hours were contributed overall to benefit around 150,000 people. Activities included the collection of over 5,100Kg of e-waste and recyclable materials, planting 300 trees, donations of over 24,000Kg of humanitarian aid such as rice, stationery, and clothing, and just under 48,000 meals were served to people in need. Why CSR matters ENGAGE Dubai is great for the people it's helping, and businesses are becoming highly conscious of their CSR policies' impact on staff recruitment and retention. Recent research shows that 82% of millennials consider CSR efforts when deciding where to work, and 70% are willing to take a pay cut to work for a socially responsible organisation. 74% said their job is more fulfilling when they can contribute positively to social and environmental issues. Companies whose workforces are actively engaged in volunteering and giving programmes reported a 57% reduction in staff turnover. So clearly, the Dubai Chamber of Commerce is well aware that their efforts are both aiding the people of the UAE, who benefit from the help of the volunteers, and also attracting top professionals to live and work in the region by offering them an environment which supports social responsibility to help increase job satisfaction and improve wellbeing for workers. Couple all of this with the UAE's 4-day working week, some of the world's best transport links, restaurants and leisure facilities (not to mention the beautiful climate!), and you can see why many businesses and individuals are keen to relocate to the area. Dubai has clearly cemented its place as a global hub for ESG and CSR excellence. If you are interested to find out more about roles in Dubai, contact our specialist recruiters at McGreggor Boyall today.

Insights

The 'Big Tech Slowdown' and what it could mean for the world of business

Big Tech, the collective term for the largest and most influential technology companies in the world, is generally considered to include; Apple, Amazon, Google, Meta (formerly Facebook) and Microsoft, with some also counting Twitter, Netflix and Tesla amongst its rankings. These firms, which have always been highly profitable and enjoyed vast and rapid growth over the past decade, are suddenly preparing themselves for a period of change. Reports from Big Tech companies suggest a slowing and, in some cases, even a freeze on recruitment and a downturn in profits across the board in what is usually one of the most prosperous industries on the planet. In the next couple of weeks, Big Tech giant Meta is predicted to report a 33% decrease in net income in their quarterly earnings, with Google forecast to suffer the slowest sales increase since pre-Covid. The concern for the business world is that an economic recession in the tech sector and especially in the Big Tech companies, creates uncertainty not just in Tech but in other industries as well which could cause widespread panic, leading to a drop in share prices, loss of investment and a financial collapse for many organisations. Why the downturn? Many factors have affected the sector recently, including global economic pressures caused by the war in Ukraine and subsequent sanctions and hostilities with Russia, pushing the price of energy and goods and creating a cost-of-living crisis. The rising costs affect businesses directly as they see their overheads soar and also reduce customers' buying power, which obviously affects sales revenue. For example, recent research shows that there has been a substantial reduction in online advertising sales, especially on social media, which is causing issues for both Meta and Google. Research company Magna estimated that the US digital ad market increased by only 11% in the second quarter of 2022, compared to 58% in the same period last year. However, another viewpoint is that this 'downturn' is, in fact, just a return to more 'normal' times. Big Tech companies saw unprecedented growth during the lockdowns as everything went online, meaning they were one of the few sectors to prosper from the pandemic. Recruitment increased in these companies to keep up with consumer demand, and investors flocked to get a slice of the action. But, as the world returned to life outside of lockdown, there was always likely to be a levelling off of growth in the tech sector, with people having the choice to be able to shop, socialise and communicate offline again. Not all bad news So perhaps the outlook is not as bleak as it first appears. A slowdown in recruitment and a reduction in profits doesn't necessarily mean that Big Tech is collapsing, but perhaps it could be thought of as more of a streamlining of their services to operate efficiently and provide for reduced post-Covid customer demand. Also, while Big Tech growth may be slowing, Reuters reported this week that some results published by Google and Microsoft are not as bad as predicted, helping to restore confidence in the market and suggesting that Big Tech could survive a recession, which is good news for all businesses, as investor confidence could help to avoid industry panic. Meanwhile, to support SMEs in the UK, a government scheme encouraging businesses to adopt new software to improve productivity at hugely reduced prices has been extended to 760,000 companies. This bolstering of smaller firms and investment in technology aims to boost sales and help SMEs break into new markets, supporting the businesses themselves and helping the economy to grow to counteract any predicted slowdown. Could there be an upside? Odd as it may sound, the Big Tech slowdown could even have an unforeseen positive. Over the last couple of years, recruitment and retention have been a significant issue for many companies with far more jobs available than candidates to fill them, causing staff shortages and skills gaps. Perhaps a slowing of recruitment in Big Tech, with a ripple effect on smaller tech companies and across other industries, could help ease the war for talent with more tech professionals becoming available, helping to balance out the recruitment sector again and give employers back some control over the recruitment process and retention of good employees. Big Tech could be in for a rough ride over the coming months, but hopefully, judging by the results filtering through so far, it is one which they can survive and perhaps even come out the other side of as more efficient businesses than they were before. If you are looking for your next career move within Tech or if you are looking for Tech professionals to join your team, contact our expert recruiters at McGregor Boyall today and find out how we can help you.

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New UK proposals for cookies and data protection. Everything you need to know.

From double opt-in to cookie consent, data protection law has been the bane of many a marketeer and tech specialist's working lives for some time now. However, as part of its Data Reform Bill, the UK government recently announced new proposals to streamline and simplify some data collection processes, including cookie collection, to reduce the need for cookie consent by replacing individual pop-up messages on every website with a 'one-stop' data-privacy setting which would apply at the browser level. What are cookies? Cookies are small text files sent by the website you're visiting to the device you're using and stored on your device's web browser to track and collect data from your browser to send back to the website owner. Since the implementation of GDPR in 2018, it has become law to ask for consent to collect this data. This is why internet users are now constantly served pop-up banners to accept cookies when visiting a website, which can feel more than a little annoying for many people. Why do companies collect them? Tracking website users allows businesses to understand more about their customers, such as which pages they visit on the website, how long they look at them, where in the world they are, what sort of device they are using and where visitors go after they leave the site. This is extremely useful data for organisations, as it can help them understand customer behaviour and tailor their site to create the best user experience, as well as inform their advertising strategy based on what visitors are viewing. However, there are advantages for the user too. For starters, some websites won't let you in unless you agree to cookie collection, but more importantly, companies can offer visitors a bespoke version of their website if they know more about them. Remembering that a user is interested in a particular topic or product means that when they return to the website again, they can be shown more of what they are interested in and less about other items or subjects. Storing cookies also allows websites to retain log-in information making it easier for visitors to access their online accounts and other restricted data when returning to a website. What would the new rules mean? The plans, released to coincide with London Tech Week, mainly focus on relieving the pressures put upon small and medium-sized businesses (SMEs) to comply with GDPR rules and instead concentrate efforts to clamp down on companies who hound people with nuisance calls. The UK government summarises the bill as "increasing financial penalties for pestering people with nuisance calls and minimising the number of annoying cookie pop-ups people see on the internet." The proposals suggest scrapping what the government calls "red tape and pointless paperwork", which businesses are currently required to complete under EU GDPR, as part of a plan to "transform the UK's data laws for the digital age". This would include allowing cookies to be placed on a user's device without explicit consent for a broader range of purposes, removing the need for websites to display pop-up cookie banners and moving to an opt-out model of cookie consent in the long term - except for content which is likely to be accessed by children which would remain more heavily protected. It is estimated that the new rules could save businesses around £1bn over ten years, with the proposed changes also removing the requirement for SMEs to employ a data protection officer, allowing the ICO (Information Commissioner's Office) to be more flexible about which data protection cases it investigates and widening access to data for public health services and research. How have the proposals been received? Perhaps unsurprisingly, there has been a mixed reaction to the proposals, with many in the marketing and tech industries welcoming the changes which would make their jobs easier. However, privacy campaigners are less impressed with the potential new legislation. Concerns that data could be more likely to fall into the hands of hackers and expose users to increased identity theft or online fraud is a significant worry, with digital campaign organisation, The Open Rights Group commenting that "At a time when personal data can be leveraged to do all sorts of wrong things, depicting data protection as a burden is wrong, irresponsible and negligent" In addition, the legalities of how the new rules would affect data transition between the UK and EU are being investigated. Tech UK, the trade association who have worked with the government on the proposals, also noted that there are still several questions about exactly how the alternative browser-level cookies would work, suggesting more consultation is needed. So, it would appear that there is still a long way to go before GDPR rules are relaxed and pop-up cookie consent becomes a thing of the past but watch this space for updates. If you are looking for your next role in marketing, tech or compliance, or if you are looking for top talent to join your team, contact McGregor Boyall today and find out how our expert recruiters can help you.

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Why are overqualified candidates struggling to secure marketing roles?

While 53,500 new marketing positions may have been available in the UK last year and in excess of 18,000 unfilled Executive Marketing roles, employers are still reluctant to consider taking on overqualified candidates. It is easy to assume that businesses would jump at the chance to take on marketing professionals who can bring a considerable amount of experience and expertise to their company and that having them in a more junior role would be a bonus. However, even though the war for talent continues to pose problems for recruiters, many companies prefer to tackle the issue by focusing on the retention of their current staff rather than filling their vacancies with overqualified marketeers. This is largely because many employers believe that someone overqualified may not stay in a role for long, meaning the company will have to start their job search all over again, which can be costly, time-consuming and continue to leave them short-staffed. This is creating issues for many highly qualified marketing professionals who may have lost their jobs or suffered burnout during Covid, or could be looking for a new role for various reasons and ending up with gaps on their CVs if they can't get a job at a lower level. Why overqualified candidates are often rejected At an interview, it can often feel flattering to be told that you are overqualified for a role; however, the novelty can soon wear off if you struggle to find suitable employment. Some of the main reasons employers are reluctant to consider overqualified candidates include: Concerns that the candidate may leave quickly because they find the role is not challenging enough Perceived issues around salary expectations based on previous employment, which might be out of the company's budget Apprehension about the ability of older candidates to be able to adapt to a new and more junior role Issues which could arise from a highly experienced candidate working with a less qualified team and, in some cases, working for a less experienced manager It may well be that none of these issues apply to many candidates' real situations but the perception that overqualified marketers come with this baggage can lead employers to reject them immediately. What to do about it To combat the preconceptions, it is advisable to address the fact that you are aware that you are overqualified before you are asked about it. This can be in a covering letter, on an application form, or, if you get to the interview stage, you may want to mention it before the interviewer does. Explaining what motivates you to apply for a more junior role can alleviate concerns that an organisation may have about your suitability. It could be that you want a change of direction and need to gain more experience in a particular industry, perhaps you are relocating and would be happy to take on a more junior role in a new area, or maybe you have taken a career break to start a family and now feel that you would like a job with better work/life balance. Try to ensure that you describe what excites you about the new role to highlight that you won't become bored quickly and also talk about how your experience and skills can benefit your potential new employer. If you have been job hunting for some time, you may have a gap in your CV. Always be honest as possible about spaces in your work history and include details of what you have been doing with the time, such as volunteering or personal development training. Please find out more about managing a gap on your CV in our blog dedicated to this topic. If you are highly experienced, you may also have so much information on your CV that it can be off-putting to a recruiter and instantly identify you as overqualified. In this case, removing less relevant jobs is recommended so hiring managers can focus on why your skills would be suitable for the role to which you have applied. If you have a LinkedIn profile, consider how to present yourself. Perhaps update your information to show the skills and experience that match your aspiring roles rather than your entire job history. Creating a win-win situation There is no doubt that there is a disadvantage for both candidates and employers when rejecting overqualified marketeers. The candidate is applying for the job because they are genuinely interested in taking on the role. Companies can miss out on some top-quality talent by automatically assuming they are not suitable for the position. Hopefully, as we look to the future, employers will realise that overqualified candidates can offer skills, experience and a suitable solution to their recruitment needs allowing professional marketeers to secure the jobs to which they are applying. If you're looking for your next marketing role or need the right marketing talent to join your team, contact McGregor Boyall today and find out how our expert recruiters can help you. Visit their profiles here; Romana Begum and Matt Crawley.

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Mental health in the workplace: Its impact on recruitment and retention

According to recent reports, one in every four people suffers from mental health issues at work, such as stress, anxiety and depression, with poor mental health cited as the highest cause of sick leave, ranked above Covid-19 in 2021. Why are the numbers so high? It would appear that there has been a sharp rise in the number of people reporting mental health problems in the workplace. Much of this increase can be directly attributed to pandemic-related issues such as stress caused by burnout, depression and loneliness from the isolation of remote working, or anxiety about returning to the office. Added to this, many people also suffer from stress and anxiety caused by financial pressures as the cost-of-living crisis continues. However, the rise in reported mental health issues may also indicate a positive shift in workplace attitudes. It may well be that many workers have always suffered from mental health issues, but they have not felt comfortable reporting them due to the stigma which has generally surrounded mental health in the past. Problems facing employers With the rising mental health issues comes increased pressures for employers. Not only do workers who are off sick with mental health disorders leave companies short-staffed, but presenteeism also creates problems where employees suffering a mental health crisis can struggle to be productive and engaged, all of which negatively affects productivity and, in turn, impacts company profits. According to a recent Bloomberg article, British workers taking time off for mental health-related illness cost employers around £43 billion in 2021 alone. Added to this, businesses yet to embrace a culture of awareness and support for mental health can also expect a backlash in terms of staff retention and recruitment of new candidates. As reported in our blog on employee benefits, around 50% of workers are prepared to move jobs to improve their wellbeing, and a recent report from the US found that as many as 8 in 10 employees said that how employers support their staff's mental health will be an important consideration when they seek future job opportunities. With the war for talent still in full swing, many workers who feel unhappy in their work or unsupported by their current employer are no longer afraid to quit their job even if they don't have a new one lined up. They are aware that it is a 'candidates' market', and they would prefer to seek employment with a company that will consider their mental health needs. This might not be the case for much longer, as fears of a recession on the horizon could cause the market to swing the other way, which could cause candidates to stay with their current employers longer. What can companies do to support workers? Several initiatives organisations are implementing to support workers include access to in-house mental health first aiders, counselling, career coaches and life coaches. This can consist of providing the actual experts and allowing employees time off for consultations. Other initiatives organisations are implementing form part of their wellbeing strategies. They include partnerships with gyms, and access to nutritionists, to maintain a healthy mind and body. The key to the success of any initiative, however, is to ensure they are not stand-alone gestures; instead, organisations need to recognise that they must form part of robust company policies. Having a cohesive approach to Mental Health, D,E&I and CSR policies is now considered to improve employee wellbeing and job satisfaction, especially amongst underrepresented groups such as LGBTQIA+, women or black communities, which in turn can both support those with mental health issues, allowing them to return to work sooner and also reduce instances of poor mental health occurring or becoming severe in the first place. Unfortunately, mental health issues can affect anyone at any time and, as the statistics suggest, not having anyone with poor mental health in an organisation is extremely unlikely. Coming out of denial is the first step in the right direction which can immediately start to change company culture and attitudes towards mental health, helping to improve the workplace experience for those suffering. Other common myths are that only those with a diagnosis need support or that employees don't want to talk about mental health and won't be offered support. This outdated view can hold companies back regarding their wellbeing provision. As mentioned above, HR policy around this subject is something for which people are prepared to move jobs. According to a recent Deloitte study, mental health is a top priority amongst Gen Z and millennial job seekers. They are not only happy to be supported when they need it but expect a culture which encourages open discussion about mental health. Moving forward Companies who are prepared to support the mental health of their staff will not only be fulfilling their social responsibility to provide an inclusive work environment, but they are also likely to improve their recruitment and retention, as well as reduce their costs for absenteeism. While the increased pressures of a post-covid lifestyle and a struggling economy are harming mental health in the workplace, the recent increase in cases also hopefully suggests that organisations, and society as a whole, are perhaps becoming more sensitive and accepting of mental health issues, meaning that employees now feel that they can speak up and get the help they need. If you are looking for talented individuals to help develop your D,E&I strategies with experience in the provision of mental health support, talk to our expert recruitment team at McGregor Boyall today. Visit their profiles here; Nina Adair, Kara Feller, Natasha Francis.

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The importance of managing Third-Party Risk

As we reach the middle of 2022, Third-Party Risk has become a significant area of focus for risk governance professionals and the organisations they work for. Between the impact of Covid and the instability caused by the war in Ukraine, the global arena has seen a sudden increase in third-party issues, including supply chain disruption and cyber security breaches. Recent reports indicate that while 85% of Third-Party Risk Management (TPRM) executives now identify TPRM as a strategic priority, around 50% of businesses are underprepared for incidents caused by third-party vendors and suppliers. As a result, many companies are anxious to implement new TPRM assessment programmes to introduce more formal due diligence and allow for continual monitoring of third parties who have the potential to damage a company's reputation and bottom line if their business practices are unethical, non-compliant or open to data breaches. What is TPRM Third-Party Risk Management (TPRM) is the part of risk management concerned with identifying and reducing risks explicitly relating to the use of third parties - vendors, suppliers, partners, contractors or service providers. This risk governance and control area is designed to identify, assess and manage the third parties that companies use and the safeguards these third parties have to minimise Risk to the businesses they are supplying. Why use third parties if they come with risks? Most modern organisations depend upon outsourcing to third parties for the smooth running of their business. Third-party suppliers can save companies time and money by providing services and expertise not available in-house. This can be anything from the transportation of goods to website hosting or cloud storage. While most companies would struggle without third-party input, the detrimental impact of supplier incidents can have far-reaching ramifications. Short-term issues such as a website being offline can cause loss of sales and reduce customer confidence, but a large data breach or using companies with poor ESG credentials could cause long-term reputational damage and discourage clients and investors. Key challenges for TPRM in 2022 The most likely TPRM issue a company should prepare to face currently is cyber security, with over half of the data breaches since 2020 occurring via third parties. However, there are many areas on which companies should focus their attention to be truly successful at managing their Third-Party Risk. Some of these key areas include: Operational Risk – could the third party cause a problem with your company's day-to-day services to their customers? Compliance – does the third party comply with your region's regulations and laws such as GDPR or D,E&I policy? If not, your business could be non-compliant by working with them. Cyber security – is the third-party vendor open to a cyber attack that would expose your business's confidential information or clients? Financial Risk – if a third-party supplier cannot fulfil manufacturing requirements or delivery deadlines, this can lead to the need for customer refunds and loss of repeat business which will have a detrimental effect on company profits. Reputational Risk – is your supply chain free from modern slavery? Are you employing a vendor with a poor carbon footprint? Third parties who engage in unethical practices can disrepute your organisation, causing negative public opinion and reputational damage. Strategic Risk – a combination of any or all of the above could cause an organisation to miss their overall business objectives, meaning they fail to move forward and achieve growth. This can have a knock-on effect on retention and recruitment of staff as well as impacting revenue. Each of these risks can also affect each other; for instance, a compliance issue could also cause reputational damage, which could have a financial impact, so it is important not to think of them in isolation but instead try to address the complete spectrum of third party risks as a whole. The future of TPRM A robust programme of due diligence, service level agreements and constant formalised monitoring would seem to be the way forward to tackle TPRM, and this can mean good news for Risk and Governance professionals with many roles becoming available as companies look to reduce their chances of being open to the impact of damaging unforeseen events. TPRM is, without doubt, a growing field, and as compliance requirements increase and customers and investors become ever more socially conscious, third-party monitoring and reporting methods will likely continue to develop to meet the evolving needs of risk management. If you are a Risk professional or your company is looking to grow its risk and governance team, contact McGregor Boyall today and find out how our expert recruiters can help you.

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How CSR can help create a happier workplace

Corporate Social Responsibility (CSR) is defined as a company's external actions and their benefit to broader society. Many businesses now realise that a good CSR policy can work hand-in-hand with D,E&I to also create internal benefits for an organisation and, most notably, the engagement and wellbeing of its employees. What is Corporate Social Responsibility? CSR is a type of self-regulation for businesses where policies are created to impact the world positively. Companies then hold themselves accountable for implementing their CSR policies, which can benefit society and help improve brand image. This, in turn, can help attract customers and investors, who are increasingly conscious of ensuring their money is funding ethical business practices. Some common types of CSR include; employee volunteering initiatives - where staff are given time off during work hours to help with community projects, charitable donations in the form of money or products, environmental sustainability such as reducing a company's carbon footprint, and supply chain awareness whereby businesses ensure that the goods and services provided to them by third parties do not participate in unethical practices like modern slavery. How can CSR improve the workplace? People are becoming increasingly socially conscious, and many employees now place high importance on working for businesses that give something back to society and take an active role in protecting the planet. Recent research shows that 82% of millennials consider CSR efforts when deciding where to work, with 70% willing to take a pay cut to work for a socially responsible company. Considering that around 75% of the average workforce comprises millennials and Gen Z staff, it's easy to see why there is an internal benefit to having a firm CSR policy. A clear advantage for recruitment, CSR can also significantly impact retention and employee engagement and wellbeing. The research study showed that 74% of those asked said their job is more fulfilling when they can positively contribute to social and environmental issues. Companies whose workforces are actively engaged in volunteering and giving programmes stated that they had seen a 57% reduction in staff turnover. Another benefit to both employees and organisations is the development of talent. Staff can increase their skill set and gain leadership experience through volunteering initiatives. When attracting top professionals can prove tricky, developing your team can be invaluable to succession planning and combating staff shortages. Finally, companies looking to improve or maintain diversity can use CSR community volunteering and giving initiatives to raise their profile in particular social groups, for instance, supporting local LGBTQIA+ charities. Volunteering and giving are areas where D,E&I and CSR can complement each other. Volunteering in local community projects with specific minority groups can help combat unconscious bias and promote the inclusivity credentials of a company and therefore attract people from these diverse social groups to work for them. It also helps to support staff within the business from those communities, as they are more likely to feel valued if they see their company taking an active role in supporting their sector of society. This can improve the engagement, mental health and wellbeing of those employees and increase feelings of job satisfaction. The future of CSR The evidence suggests that CSR, D,E&I and Mental Wellbeing are becoming increasingly linked, and rather than fighting for budget and resources, companies who recognise the benefits of having a joined-up approach between HR and governance are likely to attract and retain talent in a way that other companies may not. As the war for talent continues, it looks like CSR will play an increasingly important role in employee engagement and affect the companies that candidates choose to work for. If you are an HR or Governance professional looking for a new challenge, or if your company is looking for CSR specialists, talk to McGregor Boyall today and find out how we can help you with your recruitment needs.

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Marketing automation and how it is affecting marketing careers

From social media campaigns to chatbots, e-communications, to push notifications, marketing automation is featuring more prominently than ever in marketing strategies as companies strive to improve the efficiency of their marketing teams and look for ways to provide customers with the best user experience throughout their interactions. What is Automation? Marketing automation is simply the use of software to automate monotonous and time-consuming marketing tasks that, once set up, can be carried out without human input—for instance, sending out automated email messages or tracking and analysing client data for segmentation purposes. The technology that now exists doesn't just automate what a human can do; it can work faster and more efficiently, with the ability to analyse vast quantities of data and, in some cases, use AI to make decisions based on that analysis, such as which specific advert or message to send to a potential customer. How is the market changing? Between the massive increase in online sales driven mainly by the pandemic and the benefits of creating a more tailored customer experience via a multi-channel strategy, the need to automate is becoming increasingly necessary for organisations who want to keep up with current trends and stay ahead of the competition without employing extra staff to engage with target audiences and existing clients manually. According to recent research, 51% of companies are now using marketing automation, with 58% of B2B companies planning to adopt the technology soon, and it is estimated that the global marketing automation market will be worth in the region of $8.5 billion by 2027. Even if overall marketing budgets fall, automation is now seen as playing a pivotal role in marketing activity; it is predicted that business investment in marketing automation will still increase, meaning larger proportions of marketing budgets will be channelled into this area. What does it mean for marketing careers? Some in the industry are concerned that their jobs may become obsolete as robots take over the mundane and simpler tasks; however, as the war for talent continues, employing tech to carry out the repetitive and time-consuming tasks can be a massive benefit. Almost like having an additional team member, automation can alleviate the pressure on marketers who may find themselves short-staffed when top professionals are hard to find, allowing them to concentrate on the more creative areas of their work. Additionally, like any robotics, automation platforms and technologies are only as good as the people who programme them. Some businesses yet to adopt automation have indicated that it is not because they don't want to use it but, instead, are unable to use it due to a lack of knowledge and ability of their marketing personnel. Therefore, many companies are increasing spending and expanding their marketing teams in this area to implement the new technology and keep up with competitors, as evidenced by recruitment experts McGregor Boyall, who have reported a significant increase recently in roles for marketing professionals with automation expertise in their skillset. Far from computers automating marketing jobs, it looks like they could be creating opportunities by increasing the need for marketing automation experts. With the automation market set to snowball over the next decade, automation will be shaping the future of marketing and communications for some time. If you're looking for your next marketing role or need the right marketing talent to join your team, contact McGregor Boyall today and find out how our expert recruiters can help you. Visit their profiles here; Romana Begum and Matt Crawley.

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How can organisations better support LGBTQIA+ employees in the workplace?

It's Pride Month, and with D,E&I at the forefront of every company's HR agenda, this is an opportunity for organisations to demonstrate their support for their LGBTQIA+ employees further. D,E&I is becoming increasingly imperative for business success, and therefore companies need to get their strategy right regarding Pride Month. It is no longer enough to give a brief nod of acknowledgement during the month of June; actual actions need to be taken to demonstrate a company's support for the community. While any activities are a step in the right direction, organisations need to consider how they embrace the celebration and back up their initiatives by embedding their policies into the fabric of the business for the long term. It's become the standard for companies to launch 'rainbow flag campaigns' during the month of June, using these on their social media and within advertising, but public opinion is changing; with just 14% of Gen Z looking favourably on companies doing so, compared to 42% of baby boomers. A recent article on the subject highlighted precisely this point, reporting how last year, Bud Light had created what was likely supposed to be a well-meaning 'rainbow flag campaign', which ended up offending as it was seen as a potential publicity stunt. Conversely, Kellogg's ran a far more well-received campaign in 2021, which used a catchy slogan 'boxes are for cereal, not people'. This was then backed with action by donating profits from sales to support the GLAAD organisation in its efforts to accelerate acceptance and equality for the LGBTQIA+ community. So, what can businesses do to show their support during Pride Month and beyond? Here are some ideas to help your company embrace the celebration and improve inclusion and equity for LGBTQIA+ employees in the long term. Partner with LGBTQIA+ charities This can be a great way to show that your company is taking real action and is something which could be implemented during Pride Month but can continue far into the future as part of general D,E&I policy for supporting all minority groups. A percentage of profits from sales of a product created specifically for Pride Month could be donated directly to a charity, as Kellogg's did for their 2021 campaign, or like footwear brand UGG, who is partnering with The Trevor Project, they are both promoting the organisation through advertising at their store locations and making a $125,000 donation. Not all businesses can necessarily afford this level of commitment but working in partnership to raise awareness of a charity and making a suitable donation appropriate for your company will still show the same level of support. Hold education sessions Education is key to success in creating a diverse and inclusive workplace. Using Pride Month as a springboard for launching D,E&I learning sessions for staff on topics such as unconscious bias or courageous conversations could be a progressive way to show that the company supports and values its LGBTQIA+ employees. Create employee resource groups Again, this is not something which can only be done for Pride Month and isn't exclusive to the LGBTQIA+ community, but it could be a great time to start a scheme like this if your company doesn't have one already. Employee resource groups are voluntary, employee-led groups within a company usually comprised of employees who share a particular characteristic such as gender, religious affiliation, ethnicity or lifestyle. Creating an employee resource group for staff who identify as LGBTQIA+ can not only help to show these individuals that they are valued but also allow them to meet other employees who identify as part of this group. Ensure you have true D,E&I with LGBTQIA+ represented in leadership positions Not specific to Pride Month but of enormous importance to inclusion, having visible leadership from underrepresented groups is key to paving the way for others and driving real change within organisations. Ensuring that employees from the LGBTQIA+ community are both represented at the managerial level and also given the same opportunities as others to achieve leadership status can help to create a truly diverse and inclusive workplace and, as reported in our previous blog on the subject of D,E&I, businesses with inclusive cultures are up to eight times more likely to achieve better business outcomes and retain talented staff. If you are looking for talented individuals to help develop your D,E&I strategies, talk to our expert recruitment team at McGregor Boyall today. Visit their profiles here; Nina Adair, Kara Feller, Natasha Francis.

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How new EU rules on standard USB ports could upset tech giants

A few days ago, proposals for a new directive for the standardisation of USB charging ports throughout the EU were agreed upon. If the recommendations become law, it will mean that the majority of small electronic devices, including; smartphones, tablets, headphones, digital cameras and handheld games consoles, will all have to be manufactured with a USB-C port to be able to use a universal charging cable. Why? The idea behind the initiative is primarily an environmental one, with research suggesting that the new rules could cut down on around 11,000 tonnes of e-waste annually from the disposal of incompatible chargers and devices, as well as saving consumers up to 250 million euros per year on ‘unnecessary charger purchases’. An additional purpose of the proposed legislation would be to standardise ‘fast-charging’ speeds so that all devices can achieve the same charge rate. When? The EU is aiming to introduce the new rules around the autumn of 2024, after which time devices will need to have a built-in USB-C port for charging, ruling out the option of a plug-in ‘dongle’ converter, presumably because this would not only create more hardware rather than helping to reduce the amount, but it would also somewhat undermine the spirit of the legislation by allowing companies who use alternative USB types to continue to manufacture bespoke ports and cables. Presently, the proposal still needs to be approved by the European Council and European Parliament before it becomes law, which is anticipated around the beginning of September this year. This would give manufacturers approximately two years to comply. However, an exception will be allowed for laptops due to the sort of specialist high-wattage USB-C chargers they need. Laptop manufacturers will be given an extra 16 months to prepare for the changes until around the start of 2026. What does it mean for Apple and their ‘Lightning’ Connector? Perhaps understandably, Apple is not thrilled by this news. Always striving to be unique, Apple has championed their ‘Lightning’ ports and chargers in their products, but this now makes them the only major smartphone manufacturer to use a proprietary port instead of a USB-C. With around 56 million i-phones sold in Europe in 2021, it is easy to see why they are concerned. The rule change would mean a complete overhaul of the i-phone and other related Apple products to accommodate the USB-C port while simultaneously rendering older versions useless and devoid of any resale value throughout the EU. The new rules state that “there shouldn’t be products on the market that are not compliant”, meaning that Apple may want to consider making the change sooner rather than later to allow for the sale of the outstanding stock of older models at a lower price even when new versions are released in the future. Aside from the new rules being problematic for manufacturing Apple’s existing products, the company has other reservations too. In a recent interview with the BBC, Apple commented that they “remain concerned that strict regulation mandating just one type of connector stifles innovation rather than encouraging it, which in turn will harm consumers in Europe and around the world”. They also added that they aim to make every Apple device and usage carbon neutral by 2030, suggesting that they don’t see the EU’s proposal as the only way to combat environmental issues relating to e-waste. However, there may be an argument that the new rules could inadvertently encourage innovation rather than stifle innovation. Maybe not in the way Apple suggests concerning developing different types of charging ports but perhaps through accelerating the development of wireless charging technology to do away with the USB compatibility issue entirely and make the whole issue moot. There is still much work to be done in this area, especially as charging pads also need a cable. Still, they may be exempt from the new rules, which would allow a grace period for developing further technology to resolve current wireless charging issues. In turn, there could be another unexpected side benefit of this in the form of new tech developer jobs, which may be created specifically to work on the hardware and software needed to move wireless technology forward. For the time being though, we will have to wait and see if the proposals are passed as law in September and whether other countries worldwide will follow suit. Currently, the UK government has stated that such rules would not be implemented in the UK. However, it could apply to Northern Ireland under current post-Brexit arrangements. If other regions around the globe also decide to go ahead with similar legislation, the UK may be persuaded to change their rules too. Watch this space for updates. If you are looking for a new tech role or if you want to recruit the best tech talent, talk to our expert recruiters at McGregor Boyall today to find out how we can help.

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What is the legacy of the UAE Expo for business?

UPDATE: Since this blog was published last month, Prime Minister of the UAE and Ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum, has announced that Expo City Dubai will officially open in October 2022. With just three months to go, businesses and residents are preparing to move in and take advantage of the state-of-the-art, eco-friendly facilities and excellent transport links the city offers, with connections to a port, two airports and access from the Dubai metro. The new city is also set to become the location of the new headquarters of Siemens, and as companies look to increase their presence in the region, Apple listed several new vacancies for their Dubai operations just hours after the announcement was made. As a critical part of the Dubai 2040 Master Plan, which sets out a strategy for sustainable urban development in Dubai over the next 20 years, Expo City Dubai will boast 123 LEED (Leadership in Energy and Environmental Design) certified buildings. It will be the first WELL-certified community in the region, a new standard for promoting health and wellbeing. This is likely to attract organisations and individuals to relocate to the area, which should make for a prosperous economy, and in turn, attract more businesses to the location, creating more jobs for top talent. So as Expo City Dubai prepares to open for business, we look forward to bringing you further updates on its impact on the region’s economy and environment, as well as keeping a watchful eye on other cities around the globe that may follow suit and make sustainable development their focus. ORIGINAL ARTICLE: Now that Expo 2020 has ended, many are wondering what the lasting effects will be for the region. With over $7 billion of investment and 240 million hours of labour over six months, it would be fair to assume that the UAE is hoping for some return in terms of market growth. Aims & Achievements Even before the Expo began, the UAE economy was boosted with a stock market index rise of 4% as soon as the announcement was made that they would be the host nation. Alongside the renewed confidence in the market as a direct result of being awarded the Expo, the UAE hoped to benefit from the investment in infrastructure, real estate and tourism. The technology and sustainability-focused mega-exhibition generated interest in the innovation and creativity on display from a vast array of businesses, attracting just under 23 million visitors—this massively increased footfall to the area and enhanced spending in the leisure and property industries. It is possible that had the Expo not been delayed by Covid and hampered by associated travel restrictions, it may have been even more successful. Still, the pandemic didn't stop the organisers from achieving their commitment to attracting 22.9 and 25.4 million visitors. With the exhibition split into three sprawling districts, with everything from Energy trees to the world's largest projection screen and more robots than you can shake a USB stick at, the plan is to raise the profile of the UAE and showcase the region as being at the forefront of the future of tech and sustainability on a global scale, which certainly appears to have been achieved. Business Benefits Businesses from across the world came together to share in the benefits of Expo 2020 with partnerships being created between GCC countries and many others, including India in the steel sector and the Philippines, who secured letters of intent from companies in the region which could create around 4,000 new jobs. There were also benefits for UK businesses involved with the event, with export agreements won in the region of £188 million. Other less tangible benefits for businesses have included the opportunity to showcase their innovations for tackling climate change and present new technology to a vast audience, building their brands and raising awareness. For those businesses who partnered with the Expo, alongside creating jobs, they could trial new processes on a giant scale. Tariq Sanad - CFO of Agritech Start-Up Pure Harvest: For our industry which is providing local to local farm produce, the EXPO was a great showcase of our capabilities to the different countries coming to visit, giving us visibility on a world stage that was in our home and accessible; we managed to sign letters of intent with governments for food security initiatives in Malaysia for example. Met with many global players in our industry and gained exposure to future investments from international players. Lasting Legacy In addition to the partnerships created and the innovations shared with the world, the district itself is to become a state-of-the-art city, known as District 2020, with around 80% of the existing infrastructure being repurposed to create a community for people to work and live. The city will showcase and utilise the science and sustainability from the Expo to create a clean, safe and healthy environment for residents. Not only should this prove to be a great place to live and work, but the UAE has started a global entrepreneurship programme, Scale2Dubai, to support small businesses and start-ups within the region. So far, 85 companies have already been welcomed to the region, with a second cohort lined up to move in by April 2023. With over 3,000 applications for space in District 2020, SMEs are clambering for a spot in the programme, and those lucky enough to be a part of the initiative will find themselves sitting alongside Fortune 500 companies, government departments and venture capitalists who are all moving their offices to the new Middle Eastern business hub. In addition to the physical legacy of the Expo, it is hoped that the sharing of culture and the collaboration of ideas which took place during the six-month event will be something which all organisations can benefit from far into the future. Alongside this, with around 2.8 million visits from young people under 18, the Expo has provided the opportunity to present aspirational ideas for the future to those who will be the business leaders of tomorrow, helping them to understand how to create sustainable companies and use technology responsibly to aid tackling environmental issues. So as the UAE looks back on Expo 2020, it can be assured that the region's profile has been raised significantly, and the Gulf state is now cementing its place on the global stage as a forward-thinking country with sustainability and business growth at the forefront of its activities. Couple this with Dubai's new 4-day week and the winning bid to host COP28, and the UAE is looking like a big player on the world stage, somewhere many companies may be looking to move their business. Melhem Hamdan - CFO of Al Bidayer Holding: We had a solid Q1 performance for our UAE business, and the external factors contributed to the second half of the Expo and the fact that Dubai opened up to visitors faster than the rest of the world in the post-covid world. Although the Expo or post-Expo phase does not directly impact our business, we are still witnessing growth this year from the other initiatives such as opening up for tourists, golden visa initiatives, etc. If you're looking for exciting new work opportunities in Dubai or anywhere else around the globe, talk to our expert recruitment team at McGregor Boyall today.

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How to manage a gap on your CV

Although it’s not uncommon for people to have gaps in their work history, there has always been an undeniable stigma attached to having a gap on your CV. It can make candidates self-conscious when applying for jobs. In the wake of the pandemic, there has been a massive and understandable increase in CV gaps due to Covid related issues such as furlough, redundancy, family care needs, delayed education and burnout. As a result, for many individuals, it is perhaps now more important than ever to be confident about how to explain a space between jobs as people begin to return to standard working patterns. Here we explore some of the best ways to manage a career gap and how to handle explaining it to a potential new employer. Honesty is the best policy It might be a cliché, but when it comes to a gap on your CV, it’s generally best, to be honest about the reasons for the break. In a post-Covid world, employers are generally far more sympathetic about the immense amount of disruption which everyone experienced over the past couple of years, and no one will be surprised if you couldn’t get a job because you had just graduated or if you had to take a step back from a demanding role to home-school your children. Regarding non-Covid related gaps, it is still advisable to be truthful about the reasons. Companies will look more favourably on candidates they know they can trust, and if there is a valid reason, you are better to ‘own it’ and explain what happened than trying to cover it up. Be prepared Being prepared to talk about a gap on your CV at an interview can help you relax and become confident in your actions and decisions regarding why the break occurred. Another helpful tip is always trying to put a positive spin on things when discussing the gap. For instance, you could say, ‘I took a career break for five years to look after my child’, but you could enhance this by saying, ‘Having taken a career break for five years to look after my child, I am eager to return to the workplace now that I have more time and flexibility to focus on a new role’. What to include on your CV Existing advice suggests that you only need to address a gap of more than three months. If the gap was a long time ago, anything less than six months could just be listed with one short sentence of explanation rather than wasting lots of space on your CV, as employers are generally more interested in what candidates have done recently. If you have a long and more recent employment gap, you could consider listing this as if it was a job with the applicable dates to show a continuous timeline rather than leaving it to a potential employer to spot the space between dates and draw their conclusions as to why you were out of work. Where possible, include details of unpaid work experience, volunteering or personal development you undertook while unemployed, and the information about what you were doing. This could be webinars, charity work or online courses, but something as simple as adding skills and experience you gained from teaching your children, caring for an elderly relative or setting yourself a home-based project as a hobby could add some value to an otherwise empty space. Employers will generally be pleased to see that you have utilised the time to improve yourself and be proactive even though the ‘work’ hasn’t earned you a salary. Every cloud has a silver lining As mentioned above, the good news is that Covid may have done us all a favour with recent reports on the subject suggesting that employers are becoming more open to considering employees with CV gaps. While this is partly down to a level of understanding about the disruption caused by the pandemic, there is also another reason. As the war for talent continues, the shortage of staff in many industries means that employers can no longer always be so choosy when rejecting candidates who have a gap on their CV. Employers are becoming more compassionate when it comes to gaps on a CV, but some are even taking it a step further to combat staffing issues since Covid. For example, the State of Utah is trialling a new initiative called Return Utah which deliberately aims to attract candidates with a gap on their CV. Government officials in the US State have realised that people with a CV gap can be valuable to the organisation, often being; mature, experienced, educated and very excited about the prospect of returning to work, making them good candidates for the roles on offer and assisting the State with finding enough individuals to fill their vacancies. So, perhaps the stigma of a gap on your CV is not the issue it once was. With the careful presentation of your time away from the workplace and an open and honest approach to explaining it, candidates can be confident in applying for any role they set their mind to. If you are a professional who would like advice on how to present a gap on your CV or you want to secure your next career move, contact our expert recruitment team at McGreggor Boyall and find out how we can help you.

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Market Update: The rise of Digital Marketing and its impact on recruitment within the industry

Establishing stable ground in a world still adapting to the effects of the pandemic is no easy feat. The cost of living has increased, and the need to hire has been a balancing act for most companies during these uncertain times. Having recruited and worked with numerous clients and candidates pre and post-Covid, this article provides a snapshot of the changes we are seeing within the world of Digital Marketing. Digital marketing has evolved considerably in recent years within social media, SEO and content production, leaving many marketers clambering to catch up with technological developments. Equally, this speed of progress is creating an issue for companies looking to grow their digital teams but can't find individuals with the expertise to fulfil the roles. What Digital Skills are in demand As almost everything moved online during the pandemic, the advancement of online marketing accelerated exponentially to keep up with customer demand and keep companies in business. For instance, 28% of UK consumers actively used social media platforms to look up brands during 2021, so the need for engagement on platforms such as Instagram and TikTok has become vital for brand building, as has the need for expert marketers in this area with the skills to facilitate customer engagement and help give businesses a competitive edge. Marketing Week reported that last year saw a sharp increase in demand for marketers with social media skills, including; social media advertising up by almost 46%, proficiency in Instagram increasing by just under 30% and social media optimisation and knowledge of LinkedIn both growing by around 26%. Aside from social media, according to recent research, some of the other top skills in demand for digital marketers in 2022 include UX/UI Design, Video Marketing, Cloud Computing and Content Marketing, which includes keeping up with Google's ever-changing algorithms for SEO. In addition, it appears that digital experts are needed for creating and implementing marketing strategies, but Data Analysis has also now become a skill in high demand. Around 80% of marketing roles now include some analytics to be part of the job description as companies strive to better understand their customer's behaviour to tweak and test campaigns to gain the best chance of virtual engagement. Our in-house team of recruiters have seen an increased need for marketers with skills in Customer Segmentation so that brands can create better personalisation to attract a greater reach of customers (especially Gen-Z) and Agility to allow brands to make faster decisions and ensure quicker go-to-market. How to combat the skills shortage As organisations look to build their digital marketing talent pool, all these expanding specialisms seem great in theory, but with 53,500 new marketing positions becoming available in the UK alone last year and over 18,000 unfilled executive marketing roles, it would seem that companies are struggling to find digital marketing experts with the right skills to fill the roles they have on offer. The war for talent is affecting all industries, with skills gaps opening up across various professions, significantly where degree courses have been delayed, and in-post training in new skills has not occurred due to Covid. To attract and retain the best talent, part of the solution can be for companies to review their recruitment and retention strategies, such as policies on flexible working and other employee benefits. However, the key to closing the marketing skills gap may lie in finding intelligent and capable individuals who can learn quickly and are keen to take on a challenge. It may not be so important for these candidates if they already possess the new skills needed in the digital marketing world, as they can be upskilled once they have been onboarded. This can apply to both graduates who are keen to learn but lack experience and more seasoned marketing professionals who are talented in their field but have not been exposed to new tech areas. In the current job market, finding an exact match for a digital marketing skillset can be a bit of a needle in a haystack exercise, but recruiting talented professional marketers who possess some of the skills for the job and the ability to be upskilled can provide companies with a solution. These candidates fill skills gaps in the short term, but businesses may also find that the option of upskilling also improves retention rates as employees will recognise that the company has invested in them, which may make them feel more valued and less likely to look around for other opportunities. What does the future hold Another benefit of taking on adaptable marketers who can be upskilled is that it can help futureproof a business. With the rise of AI, experts predict that by 2025 many of the tech tasks for which new skills are needed now may be automated to a large extent, and other marketing skills that robots cannot replicate will become more critical. While marketers will still need to have a broad digital knowledge, expertise in other areas such as presentation skills, emotional intelligence, and creativity are likely to come to the fore. They are all functions that need to be carried out by human beings. This mixture of digital skills and the ability to analyse, empathise and communicate effectively is likely to be the driver for innovation in the marketing arena moving forward, and those individuals who are capable of learning new skills on the job and the companies willing to train them up could emerge as the ones who enjoy the most success in years to come. If you're looking for your next marketing role or need the right marketing talent to join your team, contact McGregor Boyall today and find out how our expert recruiters can help you. Visit their profiles here; Romana Begum and Matt Crawley.

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Is your organisation ready for the new Payment Card Standard PCI DSS 4.0?

As payments move ever closer to becoming almost exclusively electronic, payment card companies, retailers and legislators are increasingly turning their attention to customer security and data protection. As discussed in our recent blogs on Open Banking and Cyber Security, electronic payments and data management come with many risks to businesses and customers. New security measures are constantly being introduced, including PCI DSS 4.0 for card payments. What is PCI DSS 4.0? Set by the PCI SSC (Payment Card Industry Security Standards Council), PCI DSS is the global data security standard utilised by the payment card industry to protect the cardholder. It applies to any organisation that processes, stores or transmits cardholder information or private authentication data. Essential compliance requirements of the Standard include; maintaining firewalls, anti-virus software and security policies, ensuring the use of unique IDs and passwords, applying encryption to transmitted cardholder data and restricting and tracking access to cardholder information. Until recently, the sector had used a version of the Standard known as PCI DSS v. 3.2.1, but this was insufficient for the evolving security needs within the industry and, consequently, will now be replaced with PCI DSS 4.0. The new version of the Standard will place increased focus on risk analysis and governance and requires companies to be prepared to report continuously rather than annually, which is the current obligation. While this is good for customer security, it will pile further pressure on companies to remain compliant. However, as the new rules have been designed in conjunction with feedback from top global industry players, the changes will allow businesses more flexibility to report in ways that suit their targeted organisational needs and personal risk exposure. When will the rules change? The update was released just a few weeks ago, on March 31 2022, so companies who want to comply with industry ‘best practise’ will want to implement the changes as soon as possible. However, the new rules will be optional and not fully replace the current Standard until March 31 2024, when 3.2.1 will be retired, with a handful of the new 4.0 requirements still not being mandatory until March 31, 2025. Organisations can ‘opt-in’ before the 2024 deadline, and those who do will have access to self-assessment questionnaires and other supporting documents once they are published in the coming months. Should my organisation be preparing for the changes now? The simple answer is yes. According to the National Law Review, “Implementing PCI DSS 4.0 will require structural changes beyond tweaking security controls. Businesses will also need to prepare for the increased legal risks of PCI DSS 4.0’s obligations.” They say that “PCI DSS 4.0 is an extensive change to the previous version of PCI DSS” and that “the additional annual diligence requirements will take time and effort to establish”. The move to PCI DSS 4.0 will likely be time-consuming. Businesses will require risk governance, compliance, and legal teams to identify any current compliance gaps and successfully navigate the changes. Organisations are being advised to act now to allow time to recruit the right talent and to plan and implement new tailored processes to satisfy the updated rules. If your organisation is looking for the right compliance, governance and legal professionals to help manage your company’s risk processes, talk to McGreggor Boyall today and discover how we can help you find the best talent.

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The changing face of Employee Benefits

As job vacancies in the UK outpaced unemployment for the first time in history this month, adding fuel to the fire in the continuing war for talent, workers are very much in the driving seat when selecting a company to work for. Businesses are looking for ways to attract and retain the best staff by offering attractive packages, but do organisations know what employees want regarding salary and benefits? Salary The number one reason most people go to work every day is to earn money. With the spiralling cost of living, it would be understandable if workers were looking to up their salaries as a priority. However, while money is considered a significant factor, it turns out that people may no longer just be looking for a hefty pay packet. According to a recent survey, the overriding factor which people now place importance on in their career is ‘workplace happiness’. This is perhaps lucky when you consider that many companies are unlikely to be able to afford the sort of wage hikes required to keep up with inflation when their overheads are rising too. So, if money is not the only thing workers are looking for, what benefits are now attracting candidates to jobs, and why has money dropped down the list of priorities? The Covid effect Since lockdown, a great deal of the working population has reassessed their life goals, having been given a taste of the benefits of flexible working. On the flip side, many have also experienced burnout, especially those trying to be productive in their work while also managing family issues like homeschooling or the care of elderly relatives. Many individuals have realised that providing they are paid a wage that allows them to live comfortably, they would rather have job satisfaction than earn a greater salary if they chose between the two. A recent survey found that almost half of workers are prepared to move to a new organisation to improve their wellbeing. This indicates that work/life balance is taking precedence over career choices. So much so in fact, that there is a growing trend to switch the phrase around and refer to it as life/work balance to highlight that, while work is essential, ‘life’ should take priority. Companies are starting to recognise that they need to offer employees a healthy working environment if they want to attract and retain top talent. What benefits can create a healthy working environment As businesses move away from traditional benefits, these are gradually being replaced with more innovative incentives that are perhaps better tailored to real employee needs. Making benefits more specific and helpful to workers can increase their perceived value and make them more attractive to prospective candidates and current staff alike. Flexible working options appear to be one of the critical benefits candidates now look for in a company. This can be in the form of a hybrid or shorter working week, which enhances work/life balance and has some financial advantages such as reducing travel costs, which can counterbalance the inability of some companies to offer hard cash. Also, flexible working can apply to any location, with individuals being able to be based worldwide if the job can be carried out remotely. This gives maximum staff flexibility and opens up a wider talent pool for organisations to recruit from. Other types of wellbeing benefits on offer are focussed on preventing burnout and improving overall health. Some companies have started offering support sessions for mental, physical and financial health to help employees reduce stress levels, making them feel happier at work and, as a result, more productive. Other offerings include free healthy breakfasts, yoga sessions and social activities. These not only create a healthier working environment but can also aid employee engagement and relationship building at a time when retaining company culture is vital to offset any adverse effects of having a hybrid team. Feeling valued and having opportunities to develop is also high on the agenda for many workers. This means that equity and inclusion feature in people’s wish lists regarding what they are looking for from an employer. Companies must ensure they have a robust D,E&I policy in place to guarantee they are creating a fair and engaging work environment. On top of all this, workers are more so now than ever looking for socially conscious employers, and having a policy for this can often outweigh the list of progressive benefits offered. The future It looks likely that health and wellbeing have now taken over from monetary reward when it comes to working priorities, and perhaps we have the pandemic to thank for that. Only time will tell if this remains the case or whether the increasing pressure of the cost-of-living crisis pushes people back towards financial benefits, but with people now more motivated by good mental health, inclusion and job satisfaction, it seems probable that work/life balance will stay in the top spot for some time to come. If you are looking to improve your work/life balance with a career move, talk to our expert recruiters at McGreggor Boyall today and find out how we can help you.

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Will 2022 see the return of Event Marketing?

After such a long time away from the exhibition halls and conference centres, are people now ready to start returning to trade shows and conventions in person or are we all now so used to Zooming in for webinars and virtual summits from the comfort of our desks that we will never see the same large-scale physical events that existed pre-pandemic? Benefits of virtual events There is no doubt that the move to virtual events has seen many advantages. There are obvious cost savings for the organisers not needing to hire a venue or spend money on exhibition equipment such as stands and merchandise. Virtual events also don't need large amounts of staff to manage proceedings, and those who are required won't have a hefty expenses claim to submit at the end. Equally, companies who send delegates to virtual events save money on transport, hotels, and food bills and reduce their carbon footprint by not having employees travelling around the country or the globe. Virtual events also enjoy a more significant reach in terms of audience. It is easier to attract participants from all corners of the earth as there are no travel restrictions and events are generally low cost or free to attend. Managers may also find the decision to allow employees to attend more attractive, as delegates won't be spending time away from the office. On top of this, another benefit is that attendees' registration information and data about their engagement with interactive elements of the event can be electronically collected to analyse their behaviour and better identify target clients. Why go back to physical events? While it's clear that there may be cost savings from hosting virtual events, as the saying goes, 'money isn't everything'. In a recent survey, 26% of event attendees said that virtual events aren't fun, and 67% of event marketers said they find it challenging to keep the attendees engaged during the virtual event. There are some things you can't convey over a computer screen. In-person events can provide an opportunity for relationship building through fundamental social interactions. The chance to network in person, shake someone's hand, and see their face in real life can allow for more in-depth conversations and memorable experiences and help build brand recognition and reputation that you can't replicate online. However, as physical events return, marketers see a change in attendees' expectations. Many companies have reported that, although they see record ticket sales for some in-person events as people clamber to get back to travelling and enjoy the outside world, it is no longer enough to replicate the old pre-Covid structure for events. It would seem that in 2022, people are looking for more than just some free pens and t-shirts. They want to be given an excellent reason to attend in person as anything 'normal' or 'average' could be achieved just as easily from a virtual gathering. So, the strategy for marketeers seems to be shifting towards finding ways to go over and above to provide an experience that will entice people back to the physical world of trade shows and conventions. Event Marketing experts, Event Force, have suggested five ways that marketers can attract attendees back to live events, including; making it clear to delegates that there will be no virtual alternative, highlighting that the event will be Covid-safe and perhaps most importantly, aiming to be able to offer something exclusive that non-attendees will miss out on. Some companies are already working on innovative ways to offer exclusive experiences for their brands, such as premium drinks business Diego North America which is launching its new Astral Tequila brand by offering lucky winners a chance to spend a luxury glamping weekend with their friends and a celebrity astrologist near California's Joshua Tree National Park to tie in with the 'Astral' name. Getting it right Some marketers have been opting for hybrid events, which can be helpful in certain situations, and were indeed beneficial when the number of people gathering in one place was still restricted towards the end of lockdown. Still, hybrid options should be used with caution as they can increase pressure on the organisers by creating two events for them to plan for at once and can discourage in-person attendance if delegates choose to attend online instead. When it comes to getting people back to live events, many businesses now realise that the key to success lies in getting the right marketing professionals with the skillset to innovate and create fresh ideas. This has led to a sudden increase in roles in the events marketing arena for the right talent. Marketing recruitment specialists McGregor Boyall have reported that they have seen a recent uplift in event marketing opportunities from a wide range of companies over the past few months, with businesses seemingly bolstering their event management teams and budgets as we emerge from the restrictions of the pandemic. The future Virtual events have tremendous benefits and aren't going away any time soon. Still, it's all about getting the balance right, and there is a definite appetite for live in-person conventions, exhibitions and other smaller-scale activities when the circumstances require it. Those with the vision and creativity will devise successful physical events in the future to come up with something new and innovative, which will make people feel a need to attend and hopefully, that means there will be some exciting events ahead for all of us! If you're looking for your next marketing role or need the right marketing talent to join your team, contact McGreggor Boyall today and find out how our expert recruiters can help you. Visit our head of Marketing Recruitments profile here; Romana Begum.

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How a Neurodiverse workforce can enhance your business

We are fortunate to live in an age where difference is much more likely to be embraced and celebrated than avoided. The world of work is now heavily focused on diversity, equity and inclusion to ensure that all individuals are accommodated and supported at work. One of the newest areas of inclusion that businesses are turning their attention to is how to cater for Neurodiversity - from recruitment of neurodivergent talent to creating a suitable work environment for neurodivergent employees. What is Neurodiversity? Neurodiversity is the concept that everyone experiences and interacts with the world around them differently. Someone who is neurodivergent tends to think and behave differently due to their personal experience of their surroundings compared with most people who would be considered 'neurotypical'. Neurodiversity acknowledges that a neurodivergent response to the world is not 'right' or 'wrong' but merely different. These differences are not a deficit or disability but just atypical in society. Some examples of neurodiverse conditions are; ADHD, Autism, Dyspraxia, Dyslexia, Dyscalculia and Tourette's syndrome, all of which can affect how a person thinks, learns, behaves and processes information. The benefits of hiring Neurodivergent employees It has been reported that having a neurodiverse workforce can significantly benefit organisations, bringing increased innovation and creativity and giving companies a competitive advantage. Neurodivergent workers can be compassionate and high-achieving, offering empathy, emotional intelligence, and increased perception. For example, JPMorgan Chase found that professionals in its 'Autism at Work' initiative made fewer errors and were 90% - 140% more productive than neurotypical employees. According to the World Economic Forum's Future of Jobs Report, skills such as critical thinking and problem solving, which neurodivergent individuals often excel at, could be the most-in demand attributes in the workplace by 2025. In addition, as the war for talent rages on, having an inclusive policy on Neurodiversity can also help recruit the best neurotypical people, as many candidates are now turning down jobs at companies who don't have a full D,E & I programme. How to support Neurodiversity in the workplace Having recognised the benefits of employing neurodivergent individuals, many companies are now starting to offer support for people with a variety of needs, allowing them to work productively and access the same opportunities as neurotypical people. Tools such as Recite Me, which can be seen on the McGreggor Boyall website, can help neurodivergent individuals search the job market by making the information more accessible through options like the narration of content and changing the font size or adjusting background colour to suit the user. McGregor Boyall has reported that the new tech is worth investing in, with over 2,500 users in the last 12 months. Other initiatives to attract neurodiverse talent include using positive and inclusive language in advertising and adapting the interview processes to accommodate various needs. This could be as simple as taking regular breaks in interviews or splitting them over more than one session to avoid overstimulation. Other options can include asking candidates to prepare assignments in advance of or after the formal interview to help reduce the pressure of answering questions on the spot and allow individuals to showcase their creativity and problem-solving skills. Within the workplace, support can be offered in a variety of ways. Physical needs can be accommodated, such as ensuring someone with auditory sensitivities has a quiet area to work in, perhaps away from communal areas such as kitchens or meeting rooms. Another example could be for company information to be available in different font colours and sizes to make it accessible to those with dyslexia. Many assistive technologies now exist, and in a recent report by the British Assistive Technology Association (BATA), 78% of assistive technology users said that it had improved their effectiveness at work, 64% said it had improved their job satisfaction, and 55% said it had improved their opinion of their employer. Emotional needs can also be supported through training of all staff to improve understanding of neurodiverse conditions and encourage a culture of inclusivity. Creating internal company networks or providing career coaching can both help neurodivergent employees with building confidence and recognising their strengths as well as highlighting them to the broader workforce. Specific training for managers can be helpful here to ensure there is an understanding of legal obligations in terms of flexibility and reasonable adjustments to working environments or provision of resources for neurodivergent employees, as well as training in how to effectively and sensitively manage the performance of neurodivergent team members. Companies should also be focused on ensuring they offer the same opportunities for promotion and development to neurodivergent employees as any other staff member. Overall, the sensitivity of colleagues, understanding from employers and the availability of assistive technology can all make for more contented employees and the ability to support a more diverse and innovative workforce, leading to greater productivity and retention of staff, both of which have a direct business benefit. If you are looking for your next career move in HR or looking for support in hiring as part of your D,E&I strategy, talk to our expert recruitment team at McGregor Boyall today. Visit their profiles here; Nina Adair, Kara Feller, Natasha Francis, Michaela Wernick.

Market/Industry Reports

Returning to the office: Current working practices

As memories of lockdown begin to fade and Covid restrictions are no longer an issue for the majority of the population, McGregor Boyall has taken the opportunity to survey their client and candidate base across a range of; financial services, public sector and commerce and industry organisations, to find out how the landscape is looking for office work as we move towards the middle of 2022. We are pleased to bring you the findings of our survey, which examines current trends for working practices in terms of time spent in the office and how this affects employee engagement, company culture, and staff recruitment and retention...

Insights

How the Internet of Things is creating new jobs in the tech sector

Our lives are becoming increasingly integrated with smart technology, and as we move away from computers being stand-alone devices and tech is embedded into everyday objects, the Internet of Things has come into existence and is developing rapidly. What is the Internet of Things? The Internet of Things (IoT) refers to physical objects containing sensors, software, or other technologies to connect and exchange data with other devices and systems over the Internet. It is essentially a way to make inert objects into smart hardware. It is different from the Internet itself because it can create information about connected objects, analyse and share the data, and make decisions based on its collected data. Examples of the IoT in action are home automation, such as operating lights, heating and security cameras controlled by smartphones or voice-activated assistants like Alexa or Siri. The IoT also has substantial industrial applications such as in; healthcare for remote monitoring of patients; transportation for traffic control, parking and vehicle management and even; agriculture, where data can be collected for a range of environmental needs, including temperature, rainfall, humidity, wind speed, pest infestation, and soil content. It also has uses in the military, manufacturing and many other commercial sectors. IoT technology is even being used in a humanitarian capacity, with start-up business, Moeco developing wireless trackers to monitor the safe transit of aid packages and other vital supplies to dangerous and complicated to reach locations in war-torn Ukraine. IoT Benefits & Challenges The benefits of IoT are clear to see across all walks of life for both individuals and companies, offering cost and time savings through automation, enabling enhanced security possibilities and streamlining processes. Recent research shows that 83% of organisations have significantly improved their efficiency by introducing IoT technology. On the downside, there are concerns over cyber security with news just this week that there is a DNS bug which could allow cyberattacks on IoT devices. Many businesses recognise the privacy risks of exchanging and storing large amounts of data. They know that customers need to feel assured that their information is being managed safely and responsibly and have ownership of their data. To combat security risks, there have been calls for global regulations for IoT, and in response, governments around the world are starting to introduce legislation around IoT security; however, in most cases, this is still in its infancy, and there is no joined-up approach with different countries and regions implementing their own rules. However, not all challenges are bad, and there are challenges creating opportunities within the sector. It's estimated that the number of active IoT devices will surpass 25.4 billion by 2030 and as the industry expands and developments are made, there is a constant need to update technology to enable devices to support more complex functions, find innovative ways to reduce power consumption and allow more significant numbers of 'things' to be connected. The upside is that the tech job market is looking very healthy. There are an increasing number of opportunities for tech professionals in roles such as; IoT developers, embedded system designers, infrastructure architects and IoT solutions engineers, as businesses realise that they need more IoT specialists to support developments. What the future holds for the IoT It is predicted that IoT has the potential to generate $4-11 trillion in economic value, with up to 152,200 IoT devices connecting to the Internet every minute by 2025. With legislation being gradually introduced around the globe to make it safer for users, it would appear that the industry will continue to see substantial growth for a long time to come. If you are looking for your next career move in technology or engineering, or if you are looking to grow your IoT team, contact our expert specialist recruiters at McGreggor Boyall and see how we can help you achieve your Tech goals.

Insights

The importance of addressing Unconscious Bias at work

As companies continue to strive for D,E&I excellence in fulfilling their moral obligations to staff and attracting the best candidates, one key component to ensuring that complete fairness and impartiality are achieved is recognising and addressing Unconscious Bias issues. This can be vital from the interview stage to general workplace relationships and define company culture and affect productivity and business success. However, as the name suggests, Unconscious Bias is usually something we do without realising it, so how should organisations tackle the problem? What is Unconscious Bias? Unconscious Bias can be defined as preferences or social stereotyping that individuals form outside of their conscious awareness. Most people hold unconscious beliefs about various social and identity groups. These biases stem from a human tendency to organise social worlds by categorising things like gender, race, religion, sexual preference, or body shape. An example of this in practice could be the bias shown while hiring a new employee. If the interview panel comprises only men, they may favour male candidates over female candidates even though they have the same skills and job experience. This is often due to a type of Unconscious Bias known as Affinity Bias, where people have an inclination to think someone more similar to themselves would be better at a particular role or task. Equally, this can also be seen with existing employees when a line manager always chooses specific individuals who are most similar to themselves for special projects or events. Why is it a problem for businesses? Apart from the apparent wrongs associated with prejudice, there are also several reasons that Unconscious Bias can affect a company's performance. For instance, hiring people similar to each other or only asking like-minded people to work on a task will give a business a less diverse team with similar life experiences. Where all individuals similarly approach their work, it can hamper opportunities for critique and creativity, thus reducing a team's ability to problem-solve. In addition, talented candidates at the interview stage may be overlooked purely based on Unconscious Bias. A business may miss out on hiring the best people because the interviewer is unaware of their Affinity Bias. Finally, managers may subconsciously form better working relationships with employees whom they feel an affinity with, putting them forward for promotions and making for a more friendly and relaxed working environment for these individuals. Conversely, those they feel less aligned with but still competent in their role are likely to be treated more harshly at appraisals, and they may find that the work environment feels more corporate and colder. This can be a problem for retention as good staff may be more inclined to leave a company where they think they don't 'fit in' or have a noticeable culture of favouritism. How to address the problem? As part of their D,E&I strategies, many companies have encouraged employees to undertake Unconscious Bias training to be more self-aware. The idea is that self-awareness allows individuals to make more informed decisions, not just based on their gut reactions. Instead, employees are encouraged to challenge themselves to consider what would be best for the company. They can then create a more diverse hiring strategy and a more inclusive working environment where staff can feel valued and empowered. However, it is worth noting that some companies have recently reported that while Unconscious Bias training raises awareness, it is not always seen to filter through as behavioural change in the workplace. Research has also found that for some people, once they are told that everyone has unconscious biases, they relax in the knowledge that they are not alone and that this can create an unhelpful 'norm' for stereotyping, which can make the problem worse. In a recent interview, professor Dr Grace Lordan from the London School of Economics (LSE) even described Unconscious Bias training as 'entirely ineffective'. Organisations are now looking at more tangible, longer-term strategies to address Unconscious Bias in the workplace, such as revising recruitment processes, avoiding using stereotypical language in job adverts, reviewing gender pay gaps, and providing mentoring opportunities to underrepresented groups within a business. The hope is that this will help to ensure that what is learned during training sessions is more effectively implemented in real-life situations. If you are looking for your next career move in HR, talk to our expert recruitment team at McGregor Boyall today. Visit their profiles here; Nina Adair, Kara Feller, Natasha Francis, Michaela Wernick.

Insights

Are your organisation's Risk Governance and Controls effective enough to survive a crisis?

With organisations facing constant risk from all directions, including the continuing impact of Covid, ESG risks associated with climate change and supply chains, geopolitical issues created by the ongoing war in Ukraine and other global tensions, as well as the ever-present possibility of another financial crisis and fluctuating inflation, not to mention cyber security threats, how can companies protect themselves from unforeseen hazards and ensure they have the best chance of a stable and profitable future? Gone are the days when board members and senior management could rest on their laurels and deal with an emergency when it arose. Most businesses are now aware that they must be proactive in risk management to avoid a catastrophic outcome from any unexpected and damaging event. This can be achieved through good risk governance and controls. Risk Governance and Controls explained Governance is the system of rules, practices and standards that shape a business. Risk governance applies these principles to identify, assess, communicate and manage potential risks to the company. Effective risk governance and controls should provide a decision-making framework to help recognise and respond to risks to reduce or eliminate their negative impact on an organisation. Policies and procedures can then be created to define risk tolerances and assign responsibilities to company members who will take ownership and accountability for acting on specific risk factors. Good risk governance and controls can improve efficiency and save money through the streamlining of monitoring and reporting processes and reducing the financial and human cost of unforeseen circumstances. The explosion of the Risk Management job market Since the pandemic and on the back of many other modern risk factors and lessons learnt from the financial crisis of 2007, risk management careers have become one of the most critical jobs in the world. Many companies are now clambering to create risk governance teams and recruit the best talent for roles such as Risk Management Analysts, Risk Modellers and Compliance Specialists to help them ensure their business is protected from future disasters. This, in turn, is creating a very healthy job market for governance and compliance professionals with a vast array of opportunities available to suitable candidates. Risk governance roles can involve anything from developing a framework and analysing dangers to a business to designing reports for key stakeholders or communicating potential risks to the broader organisation. It’s clear to see why companies are now prioritising building effective risk governance teams when you look at the results of a recent global survey by Private Content Network providers, Kiteworks. Findings in their ‘2022 Sensitive Content Communications Privacy and Compliance Report show that more than 50% of organisations believe they are inadequately protected against third-party security and compliance risks citing various reasons, including 58% lacking content governance controls to measure third-party risk and nearly 8 out of 10 believing their compliance reports are not entirely accurate. When should a business review its Risk? In today’s world, it is crucial to be proactive rather than reactive when managing risk, but once you have the right risk governance team and control framework in place, how should a business decide when and how often to carry out reviews or updates? According to consultancy giants PWC, there are several key moments when a company should act on risk management: Structural or internal processes have changed within your business Increased risk/complexity has emerged within your sector You have witnessed failure in your existing framework New/updated regulation or legislation that affects your business Your company is pursuing a new direction Your organisation has poor visibility into its internal controls/processes/employee behaviour. And they go on to say that if you’re getting it right, then you should be able to recognise these behaviours within your organisation: Governance arrangements are benchmarked to leading practice Top-down understanding of the governance framework Governance, risk and controls that are aligned to corporate risk appetite. It’s encouraging to know that organisations worldwide are now placing so much importance on risk governance and controls, hopefully leading to a more stable future for the global economy. Those companies still catching up can be reassured that the growing market means risk governance professionals are out there, looking to join their teams and help them manage their risks to protect their business. If you’re looking for your next career move in risk governance, compliance or any of our other specialist areas, or looking for risk governance professionals to join your company, talk to McGreggor Boyall today to find out how we can help.

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Is Open Banking changing the course of banking as we know it?

As technology evolves, so does the way we manage our money. Open Banking is a growing sector within the banking industry and could be set to change how we manage our finances completely, but how much do people know about it? In this article, we explore what Open Banking means, how it differs from traditional banking and what we can expect in the future… What is Open Banking? Open Banking is the practice of allowing third-party financial service providers open and secure access to customers’ banking and financial data through application programming interfaces (APIs). Open access is only granted once a customer has given their consent for data to be shared. The main aims of Open Banking are; to provide consumers with more control over their finances, offer faster and more accessible banking processes via third-party platforms, and allow financial institutions to provide more tailored services to their customers. How does Open Banking differ from traditional banking? It is generally felt that traditional banking methods have stunted innovation in the financial sector as customer data is usually stored but not analysed. Open Banking allows banks to understand more about their customers to identify better products and services that will benefit them. Unlike traditional banking, where the bank holds client data and offers customers a standard set of products, Open Banking creates a network or ‘ecosystem’ where the individual’s needs are at the centre of the process. Data about how customers save, borrow and transact can be shared quickly and easily between financial institutions, technical platforms and non-banking third parties. These institutions can then provide a wide range of tailored products and services for managing and moving money to provide the best option for the individual. Why is Open Banking becoming so popular? Research shows that in 2020, 24.7 million individuals worldwide used Open Banking services, with forecasted figures suggesting this could reach 132 million users by 2024, so clearly, open banking is gaining momentum. And you can see why when you consider that products and services can be personalised to the end-user. Open Banking provides greater customer choice and encourages banks to be competitive, which benefits the consumer. For instance, it’s pretty unlikely that anyone would want to pay higher interest rates or expensive overdraft charges if you can shop around. In addition, Open Banking also offers the benefit of consolidating account information, allowing customers to monitor multiple bank accounts via one app. This gives people a better understanding of their finances, enabling individuals to manage their money more effectively and make more informed decisions. Open Banking can assist with global financial activities via payment platforms, such as streamlining the trading of shares and cryptocurrency and increasing the ease and speed of domestic payments, foreign exchange and international transactions. Open Banking via payment platforms can also simplify opening new overseas bank accounts, especially in countries where there may be issues around residency regulations when using traditional banking methods. Financial institutions are also beginning to enjoy some benefits of Open Banking, especially challenger banks and fintech organisations that are less familiar to consumers. Open Banking provides them with a platform to showcase their innovative products and services. However, even the big banks are seeing some advantages whereby consolidated data on Open Banking apps can reduce the number of back-office staff needed to manage customer accounts and record individual transactions. What does the future hold for Open Banking? The evidence would suggest that the future of Open Banking is a bright one. Just three weeks ago, the UK government and UK regulators renewed their support for growth in the sector, announcing plans to establish a Joint Regulatory Oversight Committee to oversee the development of Open Banking. The government also estimates that by September 2023, 60% of the UK population will be using Open Banking payments. As the sector grows and companies expand their Open Banking services, recruiters report a rise in vacancies in Open Banking and fintech-related jobs. The market is now buoyant, offering many opportunities for professionals in the field. In other developments, Open Banking could threaten credit card companies. With Open Banking making it increasingly easy to carry out A2A (account to account) digital payments without the need for cards, credit cards could gradually become a thing of the past. However, there is a good chance that credit card companies will find a way to reposition themselves to be part of the process rather than disappear completely. It’s not just credit cards that could become obsolete. Open Banking also facilitates a new real-time digital payment method called ‘Request to Pay’. This is a way for bills to be settled between individuals or businesses using a real-time messaging service, usually via a banking or fintech app, which allows billers to request payment instantly and electronically. When a request is received, customers can pay in full, pay in part, ask for more time, communicate with the biller, or decline to pay. The new payment method can help prevent fraud and money laundering and potentially replace credit cards, invoices, and direct debits; it has been gaining traction since its launch in May 2020. Moreover, it could be that the future of Open Banking is the future of all banking, with high street banks, including HSBC, Lloyds and Citibank, amongst others, now offering Open Banking options for customers. The big banks themselves are keen to get on board with Open Banking rather than resist the changes and get left behind. Open Banking has a long way to go before it reaches its full potential. It will be exciting to see how it can improve financial services for institutions and customers alike and perhaps change how we manage our money forever. If you’re looking for a new challenge in the banking or tech industry or if you want to recruit the best candidates for your team, talk to our expert recruiters today at McGregor Boyall.

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HR & Talent Management - Market update 2022

As the world continues to deal with the repercussions of multiple global events over the last 24-months, businesses also have to adapt and evolve to keep pace with the changing market and demands of customers and employees. What has come out of these challenging times is the realisation of just how critical HR is to support shaping businesses and, more importantly, support employees effectively through these difficult times to ensure they remain engaged, productive and physically/mentally healthy. 2022 has continued to be a robust market for hiring across all functions; continuing the trend of 2021, the war for talent is at a peak. Organisations are struggling to retain and engage critical talent, and surges in salaries in the external markets as demand peaks have exacerbated this issue in a market with an acute shortage of talent. We are taking this opportunity to give you a short overview of some changes in demand within the HR market and highlight some of the challenges and opportunities that have led to these roles' evolution. Future of Work/Culture & Engagement COVID has had a long-term impact on the way people work, and as firms adapt to operating within the hybrid-working model to incorporate remote-working, there has been a surge in demand for new roles specialising in the future of work, culture and engagement. These roles focus on equipping organisations and employees with the tools to effectively work in the home and office environment, ensuring employees feel supported and engaged. They are also needed to prepare businesses for the future as both roles and technology evolve. As these roles are relatively new, organisations are sourcing talent based on the capability to step into the role, assessing internal and external talent for skills based on project management, culture, engagement, and talent management. Benefits and Well-being Linked closely to the above roles, the last year has seen benefits and well-being taking a front seat. They have become critical roles seeking to address the changing needs of employees to support diverse workforces. Mental and physical well-being has also come to the forefront. Benefits and well-being initiatives have become essential in supporting the evolving workplace, increasing demand for roles in this space at more senior and strategic levels. These roles are now integral to the business and encourage employee retention and engagement and enhance the brand and EVP. Diversity, Equity & Inclusion D,E&I has become increasingly crucial over the last few years to ensure that organisations operate inclusively. It is essential that the make-up of their organisation is reflective of their diverse customer base and that the workforce is equally diverse at all levels. Diversity is shown to be a key driver for the success of an organisation and is now also seen as increasingly important to both employees and customers. Whilst not the only motivation for D,E&I roles, the events of George Floyd and the Black Lives Matter movement brought into sharp focus that much more is still needed to be done. This has resulted in increased demand for expertise and experienced D,E&I professionals to guide organisations and leaders through this. Talent Acquisition In a sharp inverse trend to the beginning of COVID, where many Talent Acquisition teams were significantly downsized, organisations are now frantically trying to rebuild these teams to keep pace with business demand. There is an incredible scarcity of talent available in this space, particularly at the mid to junior level. This has been exacerbated by talent at the junior level being stagnant or nonexistent through the early part of the Pandemic, leading to a lack of talent pipeline at this level. Organisations have to be increasingly innovative in attracting and retaining talent in this space to support demand. Having a solid Talent Acquisition team is even more critical as the market is incredibly buoyant. Candidates are fielding multiple offers, and there is a talent shortage in several areas. The hiring experience candidates have plays a critical part in decision making, and where teams are under-resourced, the candidate experience is being impacted negatively and, in some cases resulting in a decision to go elsewhere. Those organisations that are most successful in hiring are those with the candidate experience at the heart of their process, who can be agile and move quickly. They also ensure line managers and participants in the interview process are all aligned and working to engage candidates throughout the process to provide a positive experience. Those organisations that have lost sight of this are losing out. Change/ Transformation / OD Every year within the HR space, there has been increasing demand for purist people change / transformation /OD specialists and HR Business Partners with a strong element of change as part of their roles. This has continued to evolve and grow as HR is seen as an increasingly commercial and advisory function that has a critical seat at the table at the strategic level on shaping the business structure and model. Many organisations have undergone and are undergoing systemic transformation to evolve and adapt to the new environment and technology advances. These roles are essential to ensuring that the changes are embedded effectively, and processes are as streamlined as possible to optimise workforce output. This year has been no exception, with high-level demand in this space for this skillset. HR Business Partners There has once again been high demand in the Business Partnering space. These roles continue to evolve and become much and more strategic, forward-thinking and advisory in nature. As more of the operational BAU aspects get taken out of the role, the demands in this space are for increasingly more sophisticated experience in driving transformation, agile methodology and evidence of business impact and change they have been able to impart for their business function. HR as a function has evolved massively over the last two years as the market adapts to new demands from employees and the macroeconomic environment. One clear thing is that the organisations at the forefront of thinking through the embedding of these critical roles within people and HR are at the cutting edge of attracting, retaining, and engaging talent. They will be the ones who will be successful in gaining market share! If you are looking for your next career move in HR, talk to our expert recruitment team at McGregor Boyall today. Visit their profiles here; Nina Adair, Kara Feller, Natasha Francis, Michaela Wernick.

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