Comments are closed. Related posts:No related photos. Previous Article Next Article Health and safety must be thought of as a performance issue by businesses,not simply one of regulation and compliance, delegates at a conferenceorganised by the Royal Society for the Prevention of Accidents heard lastmonth. The RoSPA congress, held in Glasgow in association with Scottishpower,examined how Scottish business and organisations could be made safer places inwhich to work. Last year 36 people in Scotland died in work-related accidents and more than2,700 suffered major injuries. The conference also looked specifically at how health and safety could beimproved in the construction industry, NHS, forestry sector and call centres. Other topics included reducing slips, trips and falls and back injuries, preventingat-work road accidents and managing asbestos in buildings. Roger Bibbings, RoSPA occupational safety adviser, said directors needed totake a greater lead in setting corporate health and safety targets and trackingtheir progress. “Health and safety must be a boardroom issue, but the whole workforcehas to be involved. Challenging targets have to be set and we need to focus onpriority issues and sectors,” he said. The conference also saw the launch of a forum called Scottish Health andSafety Revitalisers, designed to co-ordinate and exchange information on healthand safety between bodies such as RoSPA, the Institution of Occupational Safetyand Health, the Scottish TUC and the Scottish Chamber of Safety. Health and safety is a performance issueOn 1 Oct 2001 in Personnel Today
Sweeping changeOn 1 May 2002 in Personnel Today Previous Article Next Article Related posts:No related photos. Comments are closed. West Europe & CEEIn the middle of an economic downturn, today’s graduates are not just looking for an attractive salary as part of a job offer. Personal development is high on their wish list, as Bo Kremer-Jones discoversThere is little doubt that the economic downturn, which started in the US, has made its way over the Atlantic and is now rippling across Europe. There is increasing evidence of companies in the region introducing hiring freezes and initiating other cost-cutting measures as they prepare for bad times ahead. However, despite the gloomy outlook, the so-called war for talent is by no means over.As firms once again struggle to do more with less, attracting and retaining the right people is becoming even more vital. How to do this effectively is one of the biggest challenges companies face. One weapon in their armour for battle is the compensation and benefits they offer.However, this is by no means the only factor people take into account when considering where they want to work – as a recent study by the Community of European Management Schools has found in which pay ranked third in importance of what today’s graduates are looking for in an employer. The top two on their wish list, according to the study, were “an employer that not only offers opportunities for personal development (95 per cent) but one that is innovative (92.5 per cent).”These results hold true in central and Eastern Europe too. “A few years ago people would jump for any amount of money, but this is changing as the market matures,” says an executive search director in the region. He continues, “There’s a shift in terms of what people want. Before it was compensation and pay, now it’s training and development. They are looking for career opportunities.”However, offering good pay and other desirable perks can go a long way to being seen as an employer of choice and helps to hang on to much sought-after talent. Explains Mike Johnson, author of “How to become a Talent Magnet -Getting Talented People to Work for You (Financial Times/ Prentice Hall), “Not getting a raise, getting a meagre bonus can both be time-to-go triggers. In these times of shortage, you can almost guarantee that you can get more money elsewhere, if that is all you want,” he adds.And he continues, “That is also, conversely, another reason people quit – new hires being brought into the company at much higher levels of compensation. This, sadly is almost inevitable as the market for scarce talent moves upwards.”So who are the companies in Europe getting it right? Research-based pharmaceutical firm Schering has introduced a new share ownership plan for all employees, which, it reports, is the perfect solution for rewarding company performance. Above all expectations, three-quarters of employees eligible for the scheme invested in the plan. They clearly believe it’s an attractive benefit too.Market research company ACNielsen has also found a great way to make sure managers keep their employees happy. “Twenty-five per cent of the incentive bonuses of our senior people are based on how satisfied the employees are,” explains Richard Savage, head of HR for Europe, Africa and the Middle East.Sandwich chain Pràt Manger goes one better. “When you are promoted in the company, you receive a cash bonus, but you are not allowed to keep it – you have to give it away to your staff.” Says founder Julian Metcalf, “people have gone out of their way to help you and you should give something back to them.” It is a great way to build company culture.In the UK, DERA – a former part of the UK’s Ministry of Defence – pays considerably below market rates. Retention is very high, however. The reason is that it gives people what they want, including the ability to work on exciting projects, time off to speak at international conferences, encouragement to take lead roles on professional organisations all over the world and the creation of a “fellowship” programme for long stays that allows for time off to do blue sky research (cutting edge research of their choice).Companies in central and Eastern Europe face problems too in retaining key staff. It is made particularly harder in the region as salaries are much lower than in the West. A spokesman for Global compensation adviser Watson Wyatt laments, “Compensation practices are labour-market driven, with qualified managers and specialists in short supply, particularly in Russia. So top management positions are generally staffed by expatriates, especially in start-ups.”Yet, he adds, “There is still a wide differential when comparing local salaries in CEE with those in Western Europe, with local general managers paid 30 to 50 per cent less than in the West. Equally, he continues, “There is a wide discrepancy in wages between multinationals and local companies.”This is especially true in Poland, says Watson Wyatt where, “multinationals’ pay levels are about 25 per cent above local companies. However, the spokesman adds, “Local employers are closely monitoring multinationals’ pay levels, both to compete for quality labour and to establish better salary benchmarks for recruiting.”Recent research by Watson Wyatt has also found that, “The desire to retain key employees may be a driver in the increasing use of long-term incentives and deferred compensation. The use of variable compensation appears to be becoming more widespread, with more than 50 per cent of professionals now eligible.“Although this is considerably less prevalent than in Western Europe, the numerous tax and other obstacles which employers face in implementing stock option plans and similar incentives largely account for this,” it notes.So, no matter where you are, pay and compensation are no simple matters these days. But, they are important if companies want to have its share of the best talent.
Employers have been urged to put forward their views on three pieces oflegislation that could transform employment relations in the UK. The consultation was announced by Trade and Industry Secretary PatriciaHewitt and includes a review of the Employment Relations Act 1999, which coversprovisions on trade union recognition, collective bargaining, fixed-termcontracts, unfair dismissal compensation and a raft of other regulations. She also launched a discussion paper on the Information and Consultation Directivewhich is due to become law for large organisations from 2005 and will forceemployers to consult at an earlier stage and more fully with their workforce onall issues that may affect their employment, such as redundancies andrestructuring. The third consultation document launched by Hewitt is on employment status,to try and establish if there are groups of workers not covered by existingemployment rights, such as casual or agency workers. Personnel Today has asked the CIPD, the CBI, the Engineering Employers’Federation and the TUC to highlight the main issues involved and to assess whatneeds to be addressed through the consultation process. Information and Consultation DirectiveThe EC directive on informing andconsulting with staff – to be implemented in the UK by 2005 – will forceemployers to consult with employees at an early stage on issues that affecttheir employment, such as redundancies and restructuring.CIPD viewDiane Sinclair, lead public policy adviser at the CIPD, said:”Employers will have to strike the right balance between informing andconsulting with staff and protecting the business interests.”We are pleased the Government is consulting at an earlystage. It is critical that the resulting law in the UK reflects the importanceof economic and business performance as well as fair treatment of employees.”It is going to be critical for people managementspecialists how much flexibility they require in their organisation and howmuch certainty they need. That is going to be difficult and getting thisbalance right is going to be crucial.”We need to look at good practice and see what sort ofbalance would be most effective. We are delighted the Government is seekingexamples of good practice, which is a good starting point. It is essential thatCIPD members who have expertise in this area are willing to participate.”CBI viewKatja Klasson, head of employee relations for the CBI, said:”I think it is important in the debate on consultation that the Governmentrecognises that employers consult with their employees in a number of ways. “We were opposed to the directive, but we know theGovernment has to implement it. We would argue for maximum flexibility to allowemployers and staff to come to arrangements that suit them. It is importantemployers are involved in this consultation process from an early stage, toensure the end result is workable.”Employers should also be thinking about reviewing thearrangements they have to inform and consult with staff.”EEF viewDavid Yeandle, deputy director of employment policy for theEngineering Employers Federation, said: “It [the consultation] does notget us any closer to the Government’s thinking on how it is going to implementthe directive. It is a very green document which asks a lot of questions aboutinformation and consultation. We will be seeking views over what is happeningon the ground. All the evidence shows that a lot of practice is variable withdifferent approaches being adopted. One size does not fit all.”We will be making the point that many of our companiesare not only quoted on the UK stock market, but in a number of other places aswell.” TUC viewSarah Veale, senior employment rights officer for the TUC,said: “We welcome the directive, we think there is a need for it. Only theUK and Ireland were opposed to it. It is for fine for employers to devise theirown systems, as long as they broadly comply with the terms of the directive.There are some employers which don’t consult with their workforce beyond anotice or e-mail. There must be some basic default mechanism that employersmust use.”Veale said the TUC wants the legislation to include some formof sanctions to penalise companies that breach it. “We would like to see some form of enforcement through theCentral Arbitration Committee with recourse to the courts in extreme cases.”Employers can access the DTI’sdiscussion paper on www.dti.gov.uk/er/consultation/informconsult.htmand have until 11 December to make responses.Employment StatusThe discussion document on employmentstatus will consider a number of issues, including whether there are anycategories of workers currently excluded from statutory employment rights andwhether extending employment rights would change the relationship betweenemployers and staff.CBI viewKatja Klasson, head of employee relations for the CBI, said:”We do not agree that there is a group of workers who are exploited andbeing treated as second-class citizens. Some workers value the flexibility thatthese forms of work [agency and casual] offer. “Many workers choose to work through agencies because theydon’t want to be tied to one employer. This flexibility benefits both employerand employee. We think many of these rights would not be appropriate for theseworkers. If you have a worker who is employed for only three or four weeks andtowards the end says ‘I’m going on maternity leave’, it would be unworkable.”TUC viewSarah Veale, senior employment rights officer for the TUC,believes the review of employment status is overdue. “As things stand alot of workers are completely excluded from employment rights such as agencyworkers and casual workers. The problem is that UK employment law sometimesrefers to workers and sometimes to employees. Tribunals have to decide ifsomeone is a worker or an employee. Health and safety and discrimination lawsare completely different on the issue. People who are classed as casual workerscan never claim unfair dismissal. For both employers and workers it isimportant that this is clarified.”CIPD viewMike Emmott, CIPD head of employment relations, believes theconsultation is unnecessary. He said: “Workers on fixed-term contracts will be coveredby legislation by this autumn. Part-time workers are already covered. Thepurpose of this is to give the TUC a chance to bring forward evidence thatthere are current groups that should be treated as employees who are not beingtreated as employees.”EEF view David Yeandle, deputy director of employment policy for theEngineering Employers’ Federation, said: “This is not the most significantissue affecting our members, but it will be important for a number of them. Wewill identify the companies likely to be affected by this and get their views.We will be looking at the practical implications.” Employers have until 11 December tosubmit their views and can access the document on www.dti.gov.ukReview of the Employment Relations Act 1999The Government is to review theoperation of statutory union recognition and de-recognition procedures and thewider provisions of the act including: fixed-term contracts, part-time workers,employment agency regulation and industrial relations institutions such as theCentral Arbitration Committee and the Advisory Conciliation and ArbitrationService (ACAS).EEF viewDavid Yeandle, deputy director of employment policy for theEngineering Employers’ Federation, said: “We think it is a somewhatpremature review given that the legislation has only been in force a shortspace of time. However, if the Government is going to review the legislation,we do have some concerns, which we will be passing on. We feel that decisionsmade by the Central Arbitration Committee panel should be more explicit overwhy they have reached a conclusion and judgement on certain issues.”Yeandle is unhappy that the TUC is trying to have staffemployment rights begin from the first day of employment. “We also havesome serious concerns over suggestions being put forward by the TUC. Reducingthe qualification period for employment rights was not an issue covered by theEmployment Relations Act. The TUC seem to be using the review to try and putadditional issues on the table.”TUC viewSarah Veale, senior employment rights officer for the TUC,welcomed the review as an early opportunity to see if the legislation wasworking in practice.”This is complex legislation including trade unionrecognition, industrial action law and a whole range of other issues. “When the legislation was going through parliament therewas agreement that some areas were not perfected, for example the exclusion ofsmall firms from recognition agreements. It is clear there are some areas thatneed fine-tuning.”The TUC will also be pushing to have a reduction in theyear-long qualification period employees must work before they can sue forunfair dismissal. CIPD viewDiane Sinclair, lead public policy adviser at the CIPD, said:”It is difficult to see what is coming under the microscope. TheGovernment has simply set out all the provisions of the Act, which wouldsuggest a very wide-ranging exploration.”We need to see what the proposals are before we canpresent the profession’s views. “In terms of statutory union recognition, we don’t thinkthere is a great deal of evidence that would suggest changes are required. Wewould like to see organisations given more time to deal with the Act. We willbe consulting members once the Government has firmed up its proposals.”In terms of zero-hours contracts, we will be happy toparticipate in the review, but it seems difficult to see what can be changedwhere employees will be happy to work on that basis.”CBI viewKatja Klasson, head of employee relations for the CBI, said:”Our starting point is very much ‘what is the problem this review istrying to solve?’. The labour market in the UK is working well. We have lowunemployment, relatively few days lost through strikes and there is no reason formajor change.”The consultation has not yetopened, but the terms of reference covering the areas being reviewed can beaccessed at www.dti.gov.uk/er/emar/fullemp.pdf Previous Article Next Article Comments are closed. Professions views needed on swathe of new legislationOn 23 Jul 2002 in Personnel Today Related posts:No related photos.
Sony plays a new gameOn 1 Sep 2002 in Personnel Today Previous Article Next Article Comments are closed. Simon Kent looks at how the Consumer Business Group at Sony Europeintroduced experimental training methods to employees from the eastern areas ofthe continentWhen Sony Europe set out to develop leadership skills within its easternEurope managers, they wanted an event which would be a memorable experience.The intervention had to engage participants, giving them valuable experienceand learning they could take back to the organisation in their own country. According to Dipayan Roy, senior manager for training and development of theConsumer Business Group for Sony Europe, the final intervention, completed thissummer, had its genesis two years previously with an extensive competencyassessment exercise. This research helped the organisation identify areas whichwould be important to the development of the company in the future. “We used self-assessment, behavioural event interviews andconsultations among managing directors and many other people who worked withthese people on a daily basis,” says Roy. Faced with increasingcompetition and a rapidly changing market place, these managers were seen tohave a very specific and important role to play within their organisations.”The programme we wanted to design had to focus on giving these managersthe skills needed to lead change, rather than just enduring change,”explains Roy, “We needed something which would push them outside theirusual comfort zones but which would ensure the entire experience could betransferred back to the workplace.” Sony defined the required leadership competency as the ability to set avision and high standards and to convince others to strive towards thoseobjectives. “It involves motivation skills and the ability to empowerteams to make sure the desired results are achieved,” says Roy. At thesame time, given the shifting economies of eastern Europe, the company also neededa competency it called ‘building capability’ – an entrepreneurial skill throughwhich the managers could raise the capability of others while providingsupport. Having identified these two areas, the company turned to experientialtrainers Impact, which provided two development modules over four months.Addressing 25 participants from Sony sales, HR and other functions in Poland,the Slovak and Czech Republic, Hungary, Turkey, Romania, Bulgaria and Russia,the first of these modules lasted three days and focused on each participant’spersonal performance – increasing self-awareness. Experimenting The second module, lasting four-and-a-half days, addressed how eachindividual operated as a leader. While Impact’s characteristic experientialstyle of learning involved participants practically in experimenting withdifferent approaches to this skill, the second module featured a great deal oftheory, including an introduction to ’emotional intelligence’. “Therequirement for theory came from the participants,” notes Andy Ligema, anImpact facilitator on the project. “We didn’t use much theory in the firstmodule but by module two, there was a clear demand for material on leading andmanaging change.” While similar Western-based programmes have touched on the theory as well asthe practical aspect of leadership, it was clear Sony’s eastern Europeanparticipants had less knowledge in this area. “They hadn’t had muchexposure to these approaches,” says Ligema. “Some had virtually none,so we needed to introduce and demonstrate the concepts.” Most importantly, Sony ensured classroom learning was both supported by anddirectly affected the business by establishing individual projects for eachparticipant to begin and continue alongside the development intervention. Theprojects were split between initiatives which the managers had to address inthe course of their work and new initiatives derived by the individualconcerned. “We had the option of creating projects specifically for developmentpurposes” says Roy, “But this way we could identify things that wereimportant to those managers and assess what was not being done within theorganisation.” While the projects were revisited during Impact’s secondmodule, they were not designed to terminate with the development programme butto go on into the future, delivering business gains. “Not only did we set up these projects for each individual, but we madesure the business would champion each project,” says Roy. This approachincreased the value managers felt the organisation attached to theirdevelopment and made them realise the contribution they could make to thebusiness. It demonstrated that the organisation wanted to benefit from theirincreased leadership skills. Feedback from the course has been extremely positive. The managers involvedhave reported increased awareness of the impact they have on the people aroundthem, are more confident in their leadership and feel supported by theorganisation, not least through the network of managers the modules have established.”The fact the business projects identified are clearly moving forwardis extremely encouraging,” says Roy. “It shows the initiative has got the right balance. We have ourmanagers’ endorsement, while also improving performance within the organisationitself,” he adds. Related posts:No related photos.
Ruleson covert staff monitoring and accessing employees’ e-mails have beentightened, following the launch of the long-awaited data protection monitoringcode.Thecode clarifies what employers’ rights are in monitoring staff internet use,e-mails and phone calls, as well as CCTV surveillance.Theguide, designed to help employers comply with the Data Protection Act 1998,states that organisations must inform workers if they are being monitored, evenwhen a breach of company rules is suspected.InformationCommissioner Richard Thomas, who has re-drafted the code, stressed that covertmonitoring is not allowed unless serious criminal activity is suspected,warranting police involvement.”Secretsnooping is nearly always unacceptable. Monitoring must be done for a clearreason, and it is fundamental that HR makes sure staff are fully aware ofwhat’s going on,” he said.Thomasis confident the code, which has been re-drafted twice and delayed for morethan a year following concerns over its complexity, will enable organisationsto draw up effective policies.”Ibelieve this code will help HR. I hope this will fill the vacuum that’s beenaround since the Act was introduced,” he said.TheCBI claimed the commissioner had still not gone far enough in addressingconcerns about the complexity of the code.However,Mike Emmott, employee relations expert at the Chartered Institute of Personneland Development, said: “The issue of the privacy of staff using workequipment in the workplace is always going to be difficult, but this codebroadly strikes the right balance.” Related posts:No related photos. Previous Article Next Article Comments are closed. New code sees staff monitoring tightenedOn 17 Jun 2003 in Personnel Today
Previous Article Next Article Related posts:No related photos. Comments are closed. My resourcesOn 2 Sep 2003 in Personnel Today Bev Shears, HR director, South West TrainsPublications I love articles that are controversial, thought-provoking, witty andirreverent – usually written by the best in our profession, who are the bestbecause they are original thinkers, high achievers, and retain personality andhumour while championing their business and their people. I avoid the ‘It’s notfair that HR isn’t on the board’ people and those of their ilk. Books I am an avid reader with very catholic tastes in both fiction andnon-fiction. Anything from chick-lit to clinical psychology. I have beenreading a lot about the employer brand and leadership. I Don’t Know How She Does It, by AllisonPearson, had me crying with laughter, and as a working mother of two, I wrylyacknowledged the book’s truths and insights – the ‘Muffia’ and ‘Mother Superiour’were particularly well observed. Television My favourite programme is The Sopranos; anything you need to know aboutfamilies and organisational culture is all there. Immediate feedback on poorperformance and reward and recognition for success is clearly the ‘wastemanagement’ industry’s philosophy. Radio I listen when I’m driving, but I switch to CDs if it gets too inane. I likeradio news, which tends not to trivialise in the way that television does. Internet My favourite internet sites are Tesco Direct and Opodo – sorts out thegroceries and the travel. Ask Jeeves is my favourite search engine at home, andSouth West Trains operates Open Learning Centres and at-home learning throughLearn Direct, so our staff and their families can learn through the company. I think the net is great but I tend to use itfor specific things, while my family surfs for hours.
Related posts:No related photos. Read full article The Three Failures of Performance Appraisal | People Performance PotentialShared from missc on 15 Apr 2015 in Personnel Today Previous Article Next Article Comments are closed.
Related posts:No related photos. Future working, future risks – why we need a debate around AI, new tech and health and safetyOn 4 Jan 2019 in Job creation and losses, Occupational Health, Wellbeing and health promotion, Personnel Today A robot stocks a shelf during RoboCup, Japan Aflo/REX/Shutterstock Technology is transforming both our work and leisure lives, bringing opportunities but also risks, predominantly around precarious working, “always on” organisational cultures and increased automation. And health and safety and health and wellbeing need to be very much a part of this discussion, suggests Matthew HolderThe speed at which technology and the way we work are changing has led many to refer to our current period as the “Industrial Revolution 4.0”. Automation, artificial intelligence and a working style that can be more impactful on our mental than our physical health have all combined to create major changes in the everyday life of the working person.About the authorMatthew Holder is head of campaigns and engagement at the British Safety CouncilSince the Health and Safety at Work Act was introduced in 1974, fatal and non-fatal workplace injuries have dropped by 85% and 58% respectively. But historical ignorance of dangerous materials means that thousands of people still die every year from illnesses that could have been prevented. With new materials and technologies being introduced all the time, it is vital that we continue to educate ourselves on the physical and psychological risks that come with development.Today’s workplaceIn our recent Future Risk report, RobertsonCooper’s Sir Cary Cooper CBE said: “The future of work, at least for the next 10 or 20 years, was set by the recession. It has had a prolonged impact that has created a workplace where there are fewer people doing more work.”The report also highlighted Britain’s “gig economy” – or the culture of short-term and zero hours contracts leaving workers with a lack of security. The UK job market has become more fluid and more freelanced, raising questions about whether the skills currently required for modern working will still be relevant in decades to come.While workplaces have become safer and more risk-aware in recent years, the psychological impact of job instability and longer hours worked is taking its toll. The UK lost an estimated 12.5 million working days to poor mental health in 2017, accounting for almost 50% of all absence. This marks a clear need for improved wellbeing strategies, not just to tackle existing issues but to safeguard for a future where this figure seems otherwise set to increase.Automation, AI and ICTThe Health and Safety Executive has indicated that 11 million jobs – or more – may become surplus in the next 20 years as a result of automation in industries such as automotives and electronics.Changing technology in many cases already involves what some refer to as “co-bots”, robotics and automated processes that still require human collaboration.As well as minimising opportunities for human error, new technology can allow dangerous tasks to be taken off an employee’s to-do list. From a health and safety perspective the minimising of physical risk is key, but for many workers the fear of being replaced by machines will only continue to grow in the near future.In addition to this, questions are raised about the materials we work with. It seems unlikely that another asbestos crisis could happen now, but potential risks associated with new nanotechnologies need to be pre-empted and prevented.Other technological changes in our working lives have come from ICT – portable technologies and high-speed browsing that mean many workers never truly “switch off” when their working day is done. For a growing number of employees, the work-life balance is becoming poorly weighted, with concerns about job security driving staff to overwork themselves, and preventing them from expressing concerns about their working lives.Mitigating riskAccording to research by REBA, the number of organisations with a wellbeing strategy grew 20% last year to a total of 45% overall. Employee Assistance Programmes, health screenings and discounted gym memberships are common offerings being made to try and boost staff morale and wellbeing, but businesses must take a forward-thinking, people-centred approach to mitigate future risks.While flexible working in the extreme can feel insecure, an element of flexibility helps to provide a better work-life balance and increase feelings of trust between employers and employees. The value of supporting employee mental health has been proven, with a wellbeing project from South Liverpool Homes decreasing employee absence by 54% in its first year and saving them £25,000 in lost working days. Somerset County Council’s £500,000 stress reduction programme is also a well-publicised success, saving them £1.9 million over a three-year period thanks to increased staff engagement, attendance and productivity.More than half of UK employers currently have no wellbeing strategy in place, something that will have to change to ensure the protection and support of the working community ongoing. As well as keeping up with developments and training in physical risks, employers must start to view the mental health of their staff in the same way and to champion psychological wellbeing with the same sense of urgency and importance.According to British Safety Council chief executive Mike Robinson: “Whether it’s 24/7 working, the ‘gig’ economy or the drive towards automation, our mental and physical health, even our very sense of self, is at risk.“Safety has not gone away either in the future world of work, with the physical risks of working in close proximity with robots calling for new thinking in design, training and regulation,” he adds.Across all industries, a need for better quality employment and a clearer understanding of risk is crucial. Chasing to catch up with the pace of innovation is not enough – businesses of all sizes must consider how automation and always-on technology can and will affect their staff, and work to stay ahead of the curve.ReferenceFuture risk report: The impact of work on health, safety and wellbeing, British Safety Council, https://www.britsafe.org/campaigns-policy/future-risk/report/Work-related Stress, Depression or Anxiety Statistics in Great Britain 2017, HSE, November 2017, http://www.hse.gov.uk/statistics/causdis/stress/stress.pdfEmployee Wellbeing Research 2018: Staff mental health and pressure at work top concerns for UK CEOs, March 2018, https://reba.global/content/reba-wellbeing-research-2018-employee-mental-health-and-pressure-at-work-top-concerns-for-uk-ceosGrowing the health and well-being agenda: From first steps to full potential, CIPD case study, January 2016, https://www.cipd.co.uk/Images/well-being-report-case-study_2016_tcm18-10457.pdf Previous Article Next Article No comments yet. 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Greta Guggenheim (Getty)The head of TPG Real Estate Finance Trust is stepping down next month.Company CEO Greta Guggenheim, who joined the commercial mortgage REIT in 2016, will depart on March 31, Commercial Observer reported.“I have been thinking about my retirement for some time, actually since late 2019, after having helped build the company and with the intention of leaving it well positioned for future growth,” Guggenheim said during the company’s fourth-quarter earnings call Thursday morning. “This was delayed a bit, but with the strength of our balance sheet restored, our strong liquidity position, and with our experienced management and origination team, I feel now is a good time to move on.”TPG RE Finance’s president, Matthew Coleman, will take over the day-to-day responsibilities while the company looks for a new CEO.Guggenheim, who previously co-founded Ladder Capital and served as the company’s chief investment officer, joined TPG Real Estate five years ago to build out the company’s real estate debt platform. She shepherded the REIT through a tumultuous period last year when TPG and other lenders faced significant liquidity issues at the onset of the pandemic.Starwood Capital Group ended up providing the REIT with $325 million to recapitalize its platform in May. TPG Real Estate was forced to sell off more than $1 billion in assets to meet margin calls. The company also delayed its dividend in March amid the cash crunch.TPG Real Estate Finance Trust reported a loss of $136.8 million for 2020 on revenue of $177 million. [CO] — Rich BockmannContact Rich Bockmann Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Email Address* Full Name* Share via Shortlink Message*
Share via Shortlink Housing MarketNational Association of RealtorsResidential Real Estate Full Name* Email Address* Tags Inventory is at historically low levels. At the end of January, an estimated 307,000 new homes were for sale, or a four-month supply based on the month’s rate of sales. The unsold number of existing homes last month will be sold within 1.9 months, according to NAR’s latest report.Joel Kan, head of industry forecasting at the Mortgage Bankers Association, agreed with Yun, but he also noted that rising home prices are locking some would-be buyers out of the market.“Various other data sources have pointed to higher median sales prices and record-high purchase mortgage loan sizes, all of which have started to create affordability challenges in many parts of the country,” he said in a statement.Additional housing inventory is coming, but homebuilders are facing some headwinds. Building permits to build new homes surged last month, but housing starts declined as construction costs increased.Contact Erin Hudson Home sales were the busiest January on record, but still the fifth month of decline in a row. (iStock, Unsplash)Pending home sales fell for the fifth month in a row — but not for lack of demand, experts say.The number of home contracts slipped 2.8 percent from December, according to the National Association of Realtors’ monthly index. Though it’s the fifth month of consecutive decline, it was the busiest January on record, with volume up 13 percent year over year.A drop in pending home sales is often thought to indicate a drop in demand from homebuyers, but Lawrence Yun, NAR’s chief economist, attributed the decline to a lack of inventory.“Pending home sales fell in January because there are simply not enough homes to match the demand on the market,” he said in a statement.Read moreHome sales, prices rose in January as inventory hit new lowSales of new homes up 4.3% in JanuaryUS home prices are more than 5% too high: Fitch Message* Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink