Bankers went bonkers for bonuses last year – but payments across the economy hit a record level September 15, 2016 UK employers went on a bonus frenzy last year, as payments hit a record £44.3bn – finally beating the pre-recession record set in 2008. Naturally, the finance sector was the biggest contributor. Bonus payments in the financial year ending 2016 were six per cent of total pay, the Office for National Statistics (ONS) said today – that's [...]
Hybrid engine firm Vantage Power is setting itself apart with clever software September 15, 2016 Not many startups hunt for premises with the requirement that they can fit a double-decker bus in them. But for Vantage Power, that was a necessity. Founded by Imperial College graduates Alex Schey and Toby Schulz, the firm makes hybrid – part-diesel, part-electric – engines. Vantage Power can turn four buses currently in use hybrid for the [...]
The right business partner: Here are five things that’ll ensure a match made in heaven September 15, 2016 In business there is nothing more important to leadership and organisational success than partnership. While these are often pre-planned, sometimes they can sprout when you least expect it – it’s worth keeping an open mind. I met my co-chief executive on a beach in Thailand. I can safely say that wasn’t in my itinerary when I [...]
The UK’s bonus system among the world’s most unfair – CIMA September 15, 2016 The UK’S bonus system is not fair a survey from the Chartered Institute of Management Accountants (CIMA) has revealed. It found the UK has the second-least meritocratic bonus system in the world with bonuses causing resentment among two-thirds (35 per cent) of UK firms. Only the United Arab Emirates faired worse than the UK, with 42 [...]
It’s time for long-term fintech to break into pensions and mortgages September 14, 2016 Certain areas of fintech have experienced an entrepreneurial frenzy over recent years. Sectors once dominated by traditional providers have become hotbeds of startup activity, with most of the action occurring in payments, foreign exchange, short-term lending and, more recently, current accounts. As is often the case, where entrepreneurs have led, money has followed. This has [...]
One in five chief executives are psychopaths, study says September 14, 2016 Most of us have listened to a family member, friend or colleague moaning about a "psychopathic" boss, but it appears there’s a chance their complaints are actually justified. Australian forensic psychologist Nathan Brookes' study found 21 per cent of 261 corporate professionals displayed psychopathic traits — far greater than the general population in which the rate is about one per [...]
City PM Unregulated podcast: Small tweaks, big gains – How Nudge theory is changing the world September 14, 2016 Nudge theory, or the theory of marginal gains, is cited as a game-changer by everyone from FTSE 100 chief executives to gold medal-wining Olympians. This week the team is joined by Kate Glazebrook, from the Behavioural Insights Team (the company formerly known as the government's "Nudge Unit"), and Keith Hatter from K2, who explain how incremental tweaks to [...]
In pictures: Check out James Dyson’s new £250m answer to the Googleplex September 14, 2016 Google may have its Googleplex and Apple may shortly have its Doughnut – but now one of the UK's most innovative companies has launched its new, £250m version. And it's very shiny. Dyson's £250m, 56 acre technology campus in Malmesbury was officially completed today, the company said. Designed by James Dyson (latterly of the Leave campaign) and Chris Wilkinson over the [...]
Are fears about the UK commercial property market overblown? September 14, 2016 As Columbia Threadneedle Investments prepares to join Aberdeen Asset Management and Canada Life in re-opening its £1.4bn property fund, doubts persist over the future of the UK’s commercial property market. The Brexit vote brought three years of double-digit returns from UK property investments to a juddering halt. By early July, panicked investors clamouring to withdraw their [...]
Start using technology and don’t be afraid to scrap traditional engagement surveys September 14, 2016 Employee engagement is a popular topic for businesses today because of the links between it and better performance. But recent research shows that, while 90 per cent of global organisations go to the trouble of carrying out employee engagement surveys, only 7 per cent rate themselves as excellent at measuring and improving engagement and retention. [...]
