EDITION 995
13 NOVEMBER 2023

There is no escaping it: too much news is bad for you. It should come with a government health warning: “This intellectual diet is fine taken in small doses, and preferably in weekly instalments, via a well-balanced newsletter, such as 10 things from William Montgomery."

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 to achieve quality revenue. An uncompromising focus on growth can take companies in the wrong direction. Take office-sharing company WeWork. Once valued in 2019 at $47bn it filed for Chapter 11 bankruptcy on Monday. Once lauded as the "fastest-growing company ever," it has since lost about 98% of its value after going public in 2021. The key is to find quality, sustainable revenue. READ MORE

2. Bank hints at rates cut. The Bank of England is prepared to cut interest rates by the middle of next year, its chief economist has hinted. Huw Pill said it was not "unreasonable” for investors to predict a rate cut next summer. The comment is the "clearest signal yet" that the Bank is near or at the peak of its cycle of borrowing cost increases and sets up a "potential pre-election boost" for Rishi Sunak. Markets are currently pricing in a cut next June to take the Bank rate to 5%. The Telegraph

3. Case against performance reviews. Performance review season is upon us, and for some companies – it's become a "colossal waste of time”. Even as businesses tout inclusion, controversial review systems are still widely in place. In areas such as the tech sector, forced rankings are making a comeback in an effort to help leaders decide who to let go. The problem with that: It leaves out key factors, such as staffers who always help their colleagues get work done quicker and could lump together star employees with those who aren't pulling their weight. Financial Times

4. The next generation of work perks. Last year, half of workers surveyed in a MetLife UK report said they’d be prepared to accept a reduction in pay for more tailored perks, while 74% said they’d work harder for an employer that provided benefits to support individual needs. Beyond "traditional" benefits including holiday, training, free workplace meals, insurance and wellness perks, many are looking for packages that factor in better childcare support, including paternity leave and term-time working schedules. Virtual services such as GP appointments, mental health support or fitness classes which provide flexibility and convenience are also becoming a priority, as is supporting the cost of egg freezing for women. Stylist Magazine

5. Scheduling a work meeting? 15 minutes is the fastest-growing block of time for  meetings, according to data from Microsoft Teams. 60% of scheduled meetings are now just a quarter of an hour as workers decided that not every issue needs 30 minutes, let alone a full hour. Since the shift of hybrid work, meetings have increased in many organisations. Compared with February 2020, people are in three times as many meetings and calls each week; and spend an average of two days a week on meetings and emails alone. World Economic Forum

6. Britain tops binge poll. Women in Britain have topped a list of the heaviest binge drinkers in the world. When the Organisation for Economic Co-operation and Development compared alcohol consumption across 38 member countries, it found that UK women were the biggest boozers. When both sexes were combined, the UK was ranked third overall for binge drinking rates, equal with Luxembourg and behind Romania and  Denmark. The findings "highlight the gulf in drinking culture between the UK and our - some might say more sophisticated - European neighbours." The Times

7.  The cost of avoidable deaths. The cost of premature mortality in deprived areas has risen to almost £8bn a year, a new study has revealed. In 2019, avoidable deaths (such as from smoking-related cancer) in poorer areas of England cost £6.3bn in lost economic output. By 2021, that figure had risen to £7.7bn, an increase of 20%. If this trend continues, £60bn-£80bn could be lost to the economy over the next decade – which is enough to build 350 new hospitals. The Times

8. This year to be the hottest on record. This year is on track to be the hottest on record, according to climate scientists. Global average temperatures are sitting at 1.43C above the pre-industrial average. Last month was the hottest October on record, at 1.7C above the average temperature for the same month in the late 1800s. This followed four months of record-beating average temperatures. The planet is nearing average temperatures of 1.5C above pre-industrial averages, a key metric keeping the worst effects of climate change at bay. Financial Times

9. Labour are set for a landslide. Keir Starmer is on course to win more seats than Tony Blair did in his landslide victory in 1997, according to a new poll. Labour would "win the keys to Downing Street" with a 212-seat majority if the general election were held tomorrow, according to Survation. Nine cabinet ministers are forecast to lose their seats, including the potential leadership contenders Penny Mordaunt, leader of the House of Commons, and Grant Shapps, the defence secretary. The Independent

10. The bottom line. 19% of adults in Great Britain say they sympathise mainly with the “Israeli side” in the current Middle East conflict. 19% say they sympathise mainly with the Palestinian side. 31% sympathise with both sides equally; 31% don’t know. The Sunday Times