EDITION 1024
17 JUNE 2024

We are now into the meat of the election campaign. Some of the manifestos include some proposals that put clear blue water between the main parties. However, it may not be enough to revive the Tories’ electoral prospects. The main problem is that many of the things they are now promising could – and should – have been enacted during their 14 years in power. With this in mind, this week we ask what is the one leadership quality we expect from our Prime Minister. You can take part in this week's poll and review the result of last week's poll below.

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.

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.

William Montgomery
Editor and CEO of TEN

1. How to build trust with your team. Trust is the foundation of effective leadership. Without trust between you and your employees it’s difficult to establish a positive working relationship. Levels of employee trust influence your company culture. If there is a lack of trust, this will result in a toxic culture. Trust isn’t given, it’s earned through actions that consistently align with your words. READ MORE

2. Last week in the polls. A YouGov poll put Reform one point ahead of the Conservatives. But no other poll reported the same finding, although every other poll reported a fall in Conservative support and nearly all a narrowing of the Conservative lead over Reform. So what was an average eight point Conservative lead over Reform has now halved to just four points. Standing at just 20%, Conservative support is now at its lowest ever in British polling history. Rishi Sunak, whose own personal ratings have clearly fallen, must be beginning to doubt his decision to call the election early. Not that Labour have had it their own way. Like the Conservatives, their support is also down two points to 41%. Labour are being challenged by the Greens, still on 6%, and the LibDems on 12%. With many voters still undecided, this week we ask what key leadership quality should we expect from our Prime Minister? Please share your views in our latest poll. VOTE HERE

3. Inactivity threatens UK economy. A record high 22.3% of UK adults aged 16-64 are "economically inactive", meaning they are not in employment or looking for a job, according to the Office for National Statistics. The UK's workforce supply problem has persisted post-pandemic, with long-term illness affecting a record number of Britons amid rising NHS waiting lists and mental health issues. This imposes a £39bn cost on the economy. Experts urge the next government to prioritise workforce health and reconsider reducing health-related benefits. The high inactivity rate also risks stoking inflation, as more companies raise wages to retain and hire talent, in turn preventing significant interest rate cuts. Meanwhile, the UK economy failed to grow in April as rainy weather led to a drop in retail sales and construction. The Times

4. Where worker satisfaction is plummeting. The mood among workers has darkened in two countries more than elsewhere in Europe: German and Irish workers' life satisfaction dropped by 8 percentage points over the past year, followed by that of workers in Croatia, Austria, Switzerland, Slovakia and the UK (-7 to -3 percentage points), the latest State of the Global Workplace shows. Germany now ranks 20th, and Ireland 16th in Europe when it comes to life satisfaction and confidence about the future, with more than half of workers in those countries struggling or suffering. Finland tops the rankings, with 85% of workers reporting they feel they are thriving, followed by Denmark (77%), Iceland (76%), Netherlands (71%) and Sweden (70%). Gallup

5. World sees record high displacement. The number of forcibly displaced people worldwide has increased by 8%, new figures from the UN Refugee Agency (UNHCR) show – marking the 12th consecutive year-on-year increase. There were more than 117 million forcibly displaced people worldwide at the end of 2023, and as of May 2024 the number has risen to 120 million, representing 1.5% of the global population. More than 43 million people are now classified as refugees, a figure that has doubled in the last decade. About 40% of all displaced people were children aged 17 or under. The US received over one million new settlement claims, remaining the world’s top recipient of new individual applications, followed by Germany (329,100), Egypt (183,100) and Spain (163,200). The report also showed that more than five million internally displaced people and 1 million refugees returned home in 2023. The Guardian

6. Election shock rattles markets. European shares tumbled last week as €60bn was wiped off the Paris stock exchange's value following French President Emmanuel Macron's announcement calling an early election. France’s borrowing costs also surged to the highest level this year. Meanwhile, the EU election results added to the uncertainty in the region's market and currency. Following the news, the Euro plunged against the pound to 84 pence, its lowest level since August 2022, as markets priced in increased uncertainty across the continent. The UK's FTSE 100 index, which tracks the 100 biggest publicly listed firms, fell 0.6%, with investors cautious ahead of a slew of key UK economic data that could sway the Bank of England on interest rates. The Independent

7. How grads see their career prospects. Almost eight in 10 (78%) graduates are confident about their career prospects, a global survey has found. Around 10,000 university graduates and students aged between 18-25 across 14 markets took part in the study by the CFA Institute. UK graduates were least optimistic – just 68% said they were confident in their future career prospects in today’s economic climate, 10% lower than the global average. Sentiment was higher among German graduates, with 82% expressing confidence in their career outlook. Challenging economic conditions are leading graduates to prioritise salary in their job search, with six out of 10 (61%) global respondents saying this was what they looked for most in an employer. Respondents showed a preference for high-paying sectors such as finance, which was ranked as the most stable and attractive career choice for the second year in a row. AI and automation are key priorities for new graduates – 92% recognise the benefits of proficiency in these technologies. Yahoo

8. Cost-of-living crisis hits education. Nearly 80% of primary schoolteachers in the UK are using their own money to buy clothing, supplies or food, research by the National Foundation for Educational Research (NFER) has found. About 25% of teachers said they spent over £100 for the year, with 19% saying the money went specifically towards clothing or food, as the country continues to struggle with the cost-of-living crisis. Others bought classroom supplies for art and science and nearly half paid for stationery and revision books. Over 30% of teachers reported that children were increasingly coming to school hungry and about four in 10 said pupils arrived without proper uniforms or warm clothing. British teachers are spending their own money despite feeling "severely underpaid", according to the National Education Union, which found that teachers' "pay has declined significantly" since 2010. The Guardian

9. Young unlikely to vote next month. Only 40% of 18to 24-year-olds say they are likely to vote next month. 43% are still wondering whether to do so, and 17% say they’re unlikely to vote. Reasons given for not voting include the sense that it will not make a difference (31%) and that political parties cannot be trusted to keep their promises (30%). Daily Telegraph

10. The bottom line. According to the Institute for Fiscal Studies, 65% of pensioners pay tax on their income, up from 48% in 2010. Among working-age people, 63% pay income tax. Daily Telegraph