EDITION 1007
19 FEBRUARY 2024

Good morning

Before you dive in, remember our POTENTIAL workbook [see below] is on offer for only £99. This unique workbook will help guide your organisation to its highest potential. Contact us today to start your transformation.

So, as another week slips by, here are 10 things which caught my attention and may have escaped yours. Please feel free to share on social media and forward to your colleagues and friends so they can also subscribe, learn and engage. I would be very grateful if you did.

William Montgomery
Editor and CEO of TEN

1. How make time for social media. Being on X [formerly known as Twitter], LinkedIn and other social media sites can be good for your career and your business, but where do you find the time in your busy schedule? Something's got to give. READ MORE

2. Do we need etiquette classes at work? Do professionals need to go to charm school to learn how to behave when returning to the workplace? Some companies think so, because employees are rusty when it comes to in-person conduct, from small talk at events, to dealing with loud and disruptive co-workers or responding when colleagues leave communal kitchens in disarray. Training, which focuses on soft skills, can include, professionalism in the office and online, giving feedback, proper dress code, remembering names and how to conduct oneself during a business lunch. Have you noticed a dip in basic etiquette in your workplace? Is there a need for social upskilling? Please share your views in our latest poll. VOTE HERE

3. Central banks' wage growth dilemma. Wage growth in the UK eased from summer highs in the last quarter of 2023, but not as much as analysts had expected. This leaves the Bank of England in a dilemma on interest rate cuts until inflation clearly trends toward the 2% target. The data suggests the UK labour market isn't loosening as fast as desired, so markets have pushed back forecasts of the first BOE cut to August instead of May. Similarly, in the eurozone, wage growth hit a record 4.7% last year. Why does strong wage growth matter? Central banks worry that workers seeking higher pay to maintain living standards could spur persistent inflation if companies pass on costs. Financial Times

4. Managers tap ChatGPT for reviews. Is that annual review really what your manager thinks of you? Performance reviews are often considered exhausting and tedious, but ChatGPT is helping many professionals speed up the process. More people are using the artificial intelligence chatbot to write reviews for themselves or their direct reports, especially if the review isn’t likely to impact career progression. However, those who have used AI to write reviews recommend editing all of ChatGPT’s outputs for accuracy since the chatbot might “make stuff up." Axios

5. Is Leadership your cuppa tea? Leading a team is more difficult than it seems. So when a leadership role opens up or a promotion opportunity presents itself at work, take a pause to assess your motivations. While being able to lead can be fulfilling and rewarding, managing people requires dealing with a spectrum of issues and can result in longer workdays. Conduct research on what the role entails, including the day-to-day responsibilities. Know what you are getting into. Another tip? Be clear on your why. Think of your motivations and if you are up for the challenge. Need mentoring support? READ MORE

6. Brits are failing to save sufficiently. A staggering 11 million working-age Britons lack basic financial resilience, new research from the Resolution Foundation reveals. With less than £1,000 in savings, one in three UK workers would struggle to cope with unexpected costs or income shocks. The report finds this savings shortfall exacerbates the wider triple challenge UK households face - insufficient rainy-day funds, vulnerability to major life events and inadequate retirement provision. According to a previous analysis by Euronews Business, at 6.5%, the UK savings rate lags well behind France (19.9%), Germany (17.1%) and Italy (9.8%), highlighting systemic weaknesses in financial resilience. The Guardian

7. The decline in child health. A new report has highlighted an appalling decline in child health in recent years. More than a fifth of five-year-olds are now overweight or obese and nearly a quarter have tooth decay. Most childhood vaccination targets aren’t being met, and the UK ranks 30th out of 49 Organisation for Economic Co-operation and Development countries for infant survival. This means children in Britain are more likely to die before their first birthday than those in most other developed countries. Worsening child health will ultimately cost society at least £16bn a year. Academy of Medical Sciences

8. Shop worker abuse incidents up 50%. Incidents of violence and abuse aimed at shop workers rose to 1,300 per day last year, up from 870 the year before, according to new figures from the British Retail Consortium (BRC). The trade body also disclosed a record amount lost to shoplifting, which totalled £1.8bn. It is believed that these surges have been accelerated by the Covid-19 pandemic and the cost-of-living crisis. The spike comes despite retailers investing large sums to prevent crime and violence in their stores, including spending on CCTV, increased security personnel, and body worn cameras for staff. BBC

9. Last week on the markets. In Britain, the unchanged 4% inflation rate came as a pleasant surprise. An expected uptick was avoided when food prices dropped for the first time in two years. The ratings agency Fitch warned that the UK could suffer a debt downgrade if it goes ahead with another round of tax cuts. In the US, stocks suffered a sell-off after scaling record highs in recent weeks when the latest official data showed that US inflation, which came in at 3.1% in January, is proving stickier than hoped. Chinese prices are falling at their fastest rate in 15 years, fuelling concerns about the impact of the country’s deepening deflation crisis on the global economy. Amazon founder Jeff Bezos sold shares worth $4bn: the stock has gained 70% in the last year. Editor

10. The bottom line. One in four women on maternity leave have gone without food so they can afford to feed their families, according to a survey of 1,400 UK mothers by Maternity Action on behalf of Unison. Half of those quizzed said they were buying less-healthy food to save money. Sky News