HR Smart Summer Newsletter

Fancy a long weekend anyone?

Much has been written about the 4-day working week trial that was launched in 2022. Although working a 4-day week is not new, it was originally conceived as the condensed working week, whereby employees worked their weekly hours in four days not five and had a three day weekend. Now, following the workplace study, we are in the realms of employees being paid for five days, but only working for four days, 

But in a recent study by conducted in late 2022, it seems that around 60% of the participant companies reported that 4 day productivity remained around the same levels as that of 5 days. Happiness in the working environment returned and employees were more engaged then they had been working five days. This became known as the 100-80-100 model, where you pay employees 100% of their salary for 80% of their original contracted hours assuming that productivity remains at 100%.

Is this the future for all companies? The answer is probably no. Not all business sectors suit 4 day working weeks. Anyone who runs client centric contact centres may find that having too many people off when clients expect them to be available may cause operational issues. Manufacturing may also struggle too if 20% of machine time would be lost. Hourly paid employees would need a 25% hourly rate increase to make up for the shortfall in hours. Sectors where this form of working pattern could work well are likely to be knowledge based or service sectors.

So what do you need to think about if you are considering moving to a 100-80-100 model:

• Communication with staff - This is key if you are going to move to a radical change in working hours
• Consultation - Not everyone will want to work different hours, so check who is in and who is out
• Target Driven - You need a robust method of measuring what past productivity looked like to measure future fluctuations  
• Test the Validity - Don't be afraid to spend a few months trialling the new working patterns
• Written Agreements - Make sure you back up the changes with clearly written letters or agreements. Make sure they are signed by the employees
• Revocation - Make sure you can return to the status quo if things do not work out

Any changes to contractual working patterns would need to be agreed and ideally reached on a mutually agreeable basis.

If you would like to know more about this area, please let me know at heidi@hrsmartuk.com.

All the best for the Summer!

Heidi

Some Things You May Want to Know: 

How Do You Address Employee Mental Health Issues?
It is a common misconception that employers can resolve issues with employee mental health issues in the workplace. Whilst this may be true in certain cases, it certainly isn't true for the majority of cases in our general experience.

There are three main reasons why mental health issues occur:

• personal issues outside of work
• general social and societal changes outside of work
• life at work

We would urge all employers to concentrate on what life is like at work as this is what they can change and control. Employers should first consider promoting and supporting healthy lifestyles, exercise and a good work/life balance to ensure that employees remain fit for work and get time to pursue their own personal interests and family time.

We would then advise employers to review the current culture and working environment by looking at what the Company could do to make work life easier and let work flow through the employees. This could include removing system barriers, retraining managers or investing in more comfortable workstations.

Employers should encourage employees to switch off from work at the end of the working day. This allows the employee to concentrate on other things in their life without the constant pressure of a pinging phone or tablet.

You could also try asking employees what they think might make a difference to their wellbeing at work. This could be achieved via a suggestion box, through a questionnaire or team meetings. Make sure that if you ask for feedback you action or at least reply to each suggestion.

We are starting to see that less may actually result in more in various areas of work. A shorter dedicated time spent at work tends to focus the mind and may help with those employee wellbeing issues at work. 
 

This state of vacancy growth is still cause for concern, but we may be seeing a return to normality after the COVID crisis and BREXIT.

A link to the full report can be found below:
https://kpmg.com/uk/en/home/media/press-releases/2023/03/kpmg-and-rec-uk-report-on-jobs.html

If you need any help on recruitment advice or need contacts in the recruitment sector please let us know by emailing jon@hrsmartuk.com.

Contractual Post-Termination & Sunset Clauses Clarified

In the Government's policy paper "Smarter regulation to Grow The Economy", the proposed changes around non-compete and EU Sunset clauses have been clarified to a certain degree. 

The Government is now proposing to limit the length of the Post-Termination clauses to a maximum of three-months. Employers should start to plan for this in terms of reviewing more senior level employee contracts. It is currently unclear whether this new proposal, if enacted, would nullify all current contractual agreements, but one way around this could be to extend any notice periods in certain employee contracts where the Company was most at risk.

In addition, the Sunset clause that threatened to cease all EU laws by the end of 2023 has now been scrapped. It is expected that only 800 out of the 4,800 laws that exist under the current EU legislation will be scrapped or amended. This means there is more certainty for employers and businesses in the short term. However, it still looks like there could be a lot of change in a short space of time, even with the reduced changes being made. 

If you need any advice on these topics please do not hesitate to contact Heidi at heidi@hrsmartuk.com or Jon at jon@hrsmartuk.com or call us on 01903 754107.

STATUTORY PAYMENTS INFORMATION

NATIONAL MINIMUM WAGE From 1st April 2023
Apprentice                             - £5.28 per hour
Age 16 to 17 inclusive          - £5.28 per hour
Age 18 to 20 inclusive          - £7.49 per hour
Age 21 to 22 inclusive          - £10.18 per hour
Age 23 and over                    - £10.42 per hour
London Living Wage             - £11.95 per hour
Living Wage                            - £10.80 per hour 

STATUTORY PAYMENTS From 6th April 2023
 

George Square Financial Management Monthly Market update – June 2023

Corporate Comeback

The last few weeks have seen equity markets gyrate in response to earnings and economic data.

The recent earnings season marked a full year since the start of the war in Ukraine. Most US large cap companies exceeded analyst expectations in Q1 2023. While the large cap US index reported a year-over-year decline in earnings of 2.2%, positive earnings surprises in sectors like Information Technology, Consumer Discretionary, and Health Care contributed to a decrease in the pace of earnings decline versus that in the fourth quarter of 2022 (-4.7%).

While earnings have surprised to the upside, economic data has started to weaken. China, the world’s largest exporter, has reported disappointing manufacturing data for two consecutive months. US housing and manufacturing indicators remain in recession territory and the wrangling around the debt ceiling and the flight of deposits out of the banking system create additional risks that investors need to be aware of.

When I get back to Blighty

The palpable sense of gloom around the prospects for the UK economy are hard to ignore. UK gilt yields have risen after the latest inflation reading by the office of national statistics. The consumer price index rose by 8.7% in April, down from 10.1% in March. This however is the highest inflation rate among the worlds advanced economies alongside Italy. By comparison, inflation in the US is just under 5% and is 7.2% in Germany.

Underlying inflation (excluding energy and food) rose sharply in April to 6.8% from 6.2% in March. Higher core inflation is seen as a sign that price growth is more likely to remain persistently high. It appears that the Bank of England has a lot more work to do. Expectation of further rate increases have quickly been priced into mortgage rates, forcing further pressure on beleaguered households.

The UK economy faces greater challenges in regaining its footing in a post-pandemic, post-Brexit world. As a result, both fiscal and monetary policy may need to be tighter for a little while longer. While this will suppress growth over the coming months, we do believe it will quell the risk of an inflation mindset taking hold. Inflation will eventually subside allowing a reversal of the policy measures in 2024.

Portfolio positioning

While there is no escaping the headlines, from an investment portfolio perspective, we have taken steps to mitigate against the risk of UK economic stagnation.

Our underweight exposure to equities remains appropriate, though we are looking for opportunities to add as and when markets begin to better reflect the more challenging economic environment. As things stand, other asset classes look relatively more attractive. We have been gradually increasing our exposure to government bond markets, which should start to offer more defensive characteristics as inflation falls from very high levels. We have recently been switching some of our fixed income exposure from US Treasuries into UK gilts, based on the view that markets may be overly-optimistic on US rate cuts. High levels of inflation in the UK have made meeting inflation plus return targets more challenging in the shorter term. Despite this, we remain confident in the ability to meet inflation-plus targets over the longer term.

Conclusion

The start of the year saw a recovery in optimism regarding global growth. While the UK appears to have misplaced its invitation to the recovery party, we believe it is a blip rather than a longer-term shift in our economic fortunes. The sell-off in bonds and parts of the equity market in 2022 has created a good starting point for better than average portfolio returns. We are data dependent and analyse, adjust, and then repeat. We see material risks to economically sensitive assets and have taken additional steps to improve portfolio outcomes.

Change is never painful. Only resistance to change is painful- Buddha.

Local Art Gallery reach finals in Muddy Stilettos Awards!

Two faced twins are delighted to announce they are finalists in the "Best Art Gallery in Sussex" category. 

"We're finalist!!!!! We are reaching out again to all of our lovely followers to ask if you can help us win by voting for us!"

Don't forget if you've voted already you still need to vote again.

Just follow this link https://sussex.muddystilettos.co.uk/vote/ and support this amazing gallery

Worthing Mental Health Expo 2023

This year the launch of 2023 Worthing Mental Health Awareness event coincides with World Mental Health Day.

Following the success of the last 10 years at Offington Park Methodist Church, Co-Founders Bob Smytherman & Melanie Peters will be holding Worthing's First ever Mental Health Expo on Wednesday 11^th October in the Guildbourne Centre where you can come along and talk to the experts face to face in delightful town centre surroundings.

 This event will be held at the fabulous Rooms on the 1st Floor of The Guildbourne Centre, the morning will be full of useful information and our Keynote speakers will be Breakeven & Gamblers Anonymous.

Also on the 11^th, West Sussex Mind, Andy's Angels & Innavision will be running free different training courses in Rooms, all of which will be providing information on Mental Health in the Workplace, Stress, Mental Health First Aid & other helpful topics 

Bob Smytherman Co-founder said: "Following the success of Worthing Mental Health Awareness Week since 2013 while I was Mayor of Worthing,  I am very proud to have teamed up with Mel who has supported the event since then for Worthing's first ever Mental Health Expo held in the heart of the town to coincide with World Mental Health Day (10th Oct) & 11th which will include around 25 local service providers & free training in the Guildbourne Centre who have kindly donated the Centre for this important event"  

"Mel has been a great personal support to me for my own well-being & we are very much looking forward to welcoming residents & businesses to be involved in this two day event."

Co-founder of the new Mental Health Expo Mel added: 

"Having supported Worthing Mental Health Awareness Week with the marketing & refreshments since 2013 , I am delighted to be invited to run the new Expo at one of my clients namely The Guildbourne Centre in the Town Centre, I would also like to thank Stacey from Limepixel for her support with the new website"

"There continues to be a real need for good quality Mental Health advice & support as well as training for businesses & their staff and I think this Expo will provide a great opportunity to reach even more people than we have done in the last 10 years. "

We are looking for individuals,  businesses & charities with an interest in Mental Health to get in touch, stands on the Wednesday are FREE & must be manned & will be a first come, first serve basis. 

If you would like to get involved, please email info@worthingmentalhealth.co.uk

Does your business have a need for digital and advanced digital skills?

Digital Futures West Sussex, a programme launched to connect local businesses with talented jobseekers, is running an interactive roadshow at Ropetackle Arts Centre in Shoreham on Wednesday 7^th June from 4pm – 7pm.

Businesses across all sectors are invited to join the roadshow to showcase their company and meet with potential talent. The theme of the roadshow is digital sustainability, with a panel discussion on how this paving the way for business innovation and opportunity in West Sussex.

To register your interest for the Shoreham roadshow and let us know how you'd like to be involved, please click here to complete a short form.

Find out more about the programme at www.digitalfuturesws.co.uk  

Adur & Worthing Council offer FREE Wellbeing Service

Did you know your local council offer a wellbeing service that can help you improve the health of your workplace?

With dedicated wellbeing advisors they will work with you to develop the right approach for your workplace. This can include

• Free on site NHS health checks and wellbeing assessments with tailored support
• Lunchtime wellbeing workshops on topics such as healthy eating and quitting smoking
• Personalised reports and signposting to  other services that can help you improve the wellbeing of your workforce.

Kevin Pearce - Owner of Cedar Garage says "Think of a team member as a car. It's important to maintain their wellbeing, not wait until a break down occurs"

Four tips for creating a happy & healthy workplace

1. Create opportunities and incentives for staff to be physically active eg walk and talk meetings
2. Help staff to access wellbeing services
3. Promote campaigns like Dry January and Stoptober
4. Provide a supportive environment for employees, encourage conversations about health and and wellbeing and reduce the stigma around mental health.

Get in touch

info.wellbeing@adur-worthing.gov.uk  01903 221450

You can download the full brochure here 

Carpenter Box marks 100-year anniversary by fundraising for local charities

Local financial services firm, Carpenter Box, has been joined by special guests including Sussex MPs and the Mayor of Worthing to kick-off its 100-year anniversary celebrations at its head office in Worthing.

The firm was founded in 1923 and has since developed an impressive range of services for businesses and individuals based locally and internationally, growing to a headcount of over 200 and opening four further offices in Brighton, Gatwick, Chichester and London.

Despite Carpenter Box’s long-standing roots, the firm is led by a progressive team of partners with an average age of just 46 and has gained an unmatched reputation for its innovative and forward-thinking approach.

As a member of PrimeGlobal, an international network of independently owned financial advisory firms, Carpenter Box’s team of specialists also have extensive experience helping overseas businesses set up in the UK and trade around the globe.

To mark a successful 100 years in business, the firm aims to give back to the community that it has served in for a century by raising £50,000 through a series of exciting fundraising events, for local charities chosen by the company’s charitable foundation.

Those receiving donations include Red Balloon Worthing, an alternative school for children subject to bullying, homeless charities Crawley Open House and Turning Tides, and mental health charity West Sussex Mind.

Representatives from the charities were among those who attended the firm’s recent 100-year anniversary celebration, along with business people, including those who have sponsored the fundraising efforts with generous donations.

East Worthing and Shoreham MP Tim Loughton, said: “I’m really pleased to be able to wish Carpenter Box a happy 100^th birthday and to congratulate you on the fantastic firm that you’ve become today. Thank you for all you’ve done for the local community. It’s a great firm, a jewel in the crown of Worthing. Congratulations on your first 100 years and here’s to the second 100 years for Carpenter Box!”

Alan Edwards, Managing Partner at Carpenter Box, commented: “We’re extremely proud and grateful to be celebrating 100 years in business, and the journey we’ve taken to be where we are today.

“In 1923 Robert Carpenter agreed to go into partnership with Harold Box and together they opened a Worthing office at Liverpool Gardens. Today, we have 19 Partners and over 200 staff supporting businesses and families across Sussex.

“We would like to thank all our staff, clients, and the local community who have been a part of Carpenter Box’s journey so far. Here’s to the next 100 years!”

For more information about Carpenter Box, please visit: www.carpenterbox.com  

Local Business Owner, Krisi Smith, Co-Founder of Bird & Blend Tea Co. is on the newly released Amazon Prime ‘Apprentice’ style TV show Ready Set StartUP!

Krisi Smith and her award-winning Sussex based tea company Bird & Blend are featured in a brand new exciting reality TV show ‘Ready Set StartUp’ on Amazon Prime. Tipped to be the next Apprentice, this compelling new television series features 10 young British and Irish entrepreneurs that go head-to-head competing for the lucrative £100k investment for their start up business.

The 6 part TV series involves a thrilling blend of challenges, putting to the test the contestant’s business skills and acumen. Sussex based founder Krisi was selected to be a guest judge on the show, standing alongside Alison Edgar MBE, founder of Intellium Advisory Ying Wang, and Monzo founder Tom Blomfield to name a few.

Krisi and her inspirational company feature in episode 4, in its entirety, with the apt title ‘Tea-riffic Tensions’. Krisi and her team, including Danii who is the Brighton Laines store manager, introduce their magical tea brand to the contestants and set them an exciting business challenge - to deliver a launch event for Bird & Blend’s new product. Tension, drama & entertainment then ensue! Krisi sits on the judging panel, giving the contestants valuable feedback and guidance while ultimately voting on who goes home. 

Krisi says, ‘It was an honour (& super exciting) to be asked to be a judge on the show. The other judges are leading business people & entrepreneurs so to be sitting alongside them was a once in a lifetime opportunity. I’m super proud to be recognised as a successful Founder & entrepreneur that has been asked to help inspire the next generation of entrepreneurs. At the London premiere of the show, the consensus was that our episode is a fantastic one to watch with spirits and tensions high, creating a drama heavy, powerful and entertaining show!’.

‘Ready Set StartUp’ is produced and owned by Pictures in Motion, a production company dedicated to creating business and entrepreneurial formats that will entertain, be meaningful, inspire and educate. The show is presented by Irish broadcaster Simon Atkins, it premiered in Cannes and London during April and May, respectively, of this year and it’s available to stream on Amazon Prime.

Chamber Members, Shake It Up Creative, are hosting a free marketing workshop during the Worthing Festival. Arts, culture and creative businesses can learn how to understand and use marketing more effectively. Messaging, SEO basics and social media marketing will all be covered in the session at Worthing Museum on 15th June. 

You can book on here https://www.eventbrite.co.uk/e/worthing-festival-the-art-of-marketing-tickets-592303946047

Worthing’s inaugural multi arts festival runs from the 11th to the 18th June in various venues across Worthing.  With the schedule comprising of music, theatre, dance, art, heritage, comedy, spoken word, workshops, film, outdoor and family events, there's something for everyone.

Some events are free and others low cost, but they can all be found and booked via

https://timeforworthing.uk/whatsonworthingfestival23/

Does your business have a need for digital and advanced digital skills?

Digital Futures West Sussex, a programme launched to connect local businesses with talented jobseekers, is running an interactive roadshow at Ropetackle Arts Centre in Shoreham on Wednesday 7^th June from 4pm – 7pm.

Businesses across all sectors are invited to join the roadshow to showcase their company and meet with potential talent. The theme of the roadshow is digital sustainability, with a panel discussion on how this paving the way for business innovation and opportunity in West Sussex.

To register your interest for the Shoreham roadshow and let us know how you'd like to be involved, please click here to complete a short form.

Find out more about the programme at www.digitalfuturesws.co.uk