Policy News Journal - 2016-17

The Chartered Institute of Payroll Professionals ……………………………………………………………Policy News Journal

 nearly eight in ten (77%) work for at least an additional hour each day, adding up to an extra 29 days over the course of a year. With average holiday entitlement only 28 days, this extra time cancels out managers’ annual leave.  Up to 10% put in more than three extra hours each day, the equivalent of working a 15-month year.  54% of managers agree that long working hours are leading to elevated levels of stress.  61% of managers blame technology for their increased hours as they find it harder to switch off, with one in five managers reporting that they are ‘always on’ and check emails all the time.  Those struggling to switch off report lower personal productivity levels and experience more stress.  Managers’ report a link between working longer hours and suffering from increased headaches, irritability and insomnia, early symptoms of mental health problems and potential burn out.  Effective management is found to be a key factor in handling stress in the work place.  The worst management styles are shown to generate up to four times more stress than the best: 28% of those reporting that their line managers are “secretive” or “suspicious” feel stressed, compared to just 7% of those who believe their managers empower them to take their own decisions. 1. Improve the ability to manage change – 97% of managers’ report some degree of organisational change, yet just a fifth see a connection with improved decision making. Focusing on behaviours and measuring the impacts of change are crucial in tackling this leading cause of stress. 2. Develop better line managers – Line managers have a critical role to play in driving employee engagement. More open, empowering management styles are connected with lower levels of stress, higher job satisfaction and greater personal productivity 3. Switch off – Avoiding digital presenteeism means giving colleagues the license to switch off. Colleagues can often be their own worst enemies, and while personal choice is key, options such as restricting remote access should be considered. 4. Empower your people – The most power drivers of job satisfaction are a personal sense of achievement. Where innovative, entrepreneurial and empowering management styles are found, more than 84% of managers are satisfied with their jobs. 5. Improve well-being - People are not assets to be driven to destruction, it is important to monitor metrics such as morale and illness to identify destructive habits.

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AAT members call for pay ratio introduction 7 March 2017

More than 90 per cent of AAT (Association of Accounting Technicians) members believe executive pay would be better controlled by the introduction of pay ratios.

The AAT Corporate Governance Survey 2017 was conducted to help inform AAT’s response to the Department for Business, Energy & Industrial Strategy (BEIS) Green Paper on Corporate Governance Reform . Executive pay is one of the key areas that the green paper asked for views on. The survey revealed that just one in five (21%) AAT members believe government plans to introduce a legal requirement to publish pay ratios will have any impact. Instead of the simple publication of information, most AAT members would like to see a legally binding pay ratio requirement. Support was strongest for a 20:1 pay ratio as previously proposed by both David Cameron and Jeremy Corbyn (40%) but there was also support for a 40:1 pay ratio (22%), a figure the High Pay Centre suggests companies should move towards, and a 75:1 pay ratio (10%) as adopted by the John Lewis Partnership.

No members backed a pay ratio of 150:1, the current average for FTSE 100 companies, while only seven per cent were in favour of having no pay ratio at all.

Adam Harper, AAT Director of Strategy and Professional Standards said:

“At a time of increasing wage inequality and growing distrust in corporate Britain, businesses and policy makers need to show that they are serious about reform.


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