EDITION 1011
18 MARCH 2024

Good morning

It’s become a go-to question in networking circles: “How many days are you working in the office?” And now, we know the most common answer. According to the results from our latest poll [see below], just 6% of respondents go into the office on a daily basis. The majority [51%] only go in occasionally, averaging just three days per week in the office. With a general election looming on the horizon, this week we ask the question: When do you want the next general election to take place?

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 discover how others see you. You may think you already know how others view you - as a skilled facilitator or a manager who always brings out the best in your team - but you might be surprised. READ MORE

2. Markets hit highs despite concerns. Global stock markets have been on a tear, hitting record highs despite high interest rates and geopolitical uncertainties. Now, analysts are further upgrading their forecasts, citing fading recession fears and continuing strong corporate earnings, particularly in the artificial intelligence sector. Some describe it as a "risk reset", with investors embracing risk-taking in the market once again. However, not everyone is convinced. Concerns are emerging that the exuberance could turn into a bubble, with parallels being drawn to the late 1990s dot-com era. While valuations are not as extreme, and investor sentiment is not yet euphoric, cheaper debt could fuel excitability. Many are now looking at the Federal Reserve meeting this week, as any hints at rate cuts could further inflate the market. The Economist

3. Sunak rules out snap election. Prime Minister Rishi Sunak has ruled out holding a snap general election on the same day as local elections on 2 May. Speaking in an interview with ITV West Country, the prime minister said, conclusively: “There won’t be a general election on that day.” There had been “feverish speculation in Westminster” that Sunak was preparing to dissolve parliament before the end of March to make way for a general election at the start of May. Labour has been “pressuring Rishi Sunak to call an election as soon as possible” to capitalise on its lead of about 20 points in the polls. A general election needs to take place in the UK by the end of January 2025. The Guardian

4. When do you want the next general election to take place? The latest a Parliament can be dissolved for a general election is on the fifth anniversary of the day it first met. For the current Parliament, that date is 17 December 2024. However, 25 working days are then allowed to prepare for the election. That means the next election must be held by 28 January 2025. The PM formally asks the King to "dissolve" Parliament - the official term for closing Parliament ahead of an election. The poll generally takes place 25 days later. When do you want it to take place? Share your views in our latest poll. VOTE HERE

5. More than a fifth of UK adults not looking for work. The UK's economic inactivity rate was 21.8% between November and January, marginally higher than a year earlier. It means 9.2 million people aged between 16 and 64 in the UK are not in work nor looking for a job. The total figure is more than 700,000 higher than before the coronavirus pandemic. Concerns have been raised over worker shortages affecting the UK economy. The health of the UK economy is in the spotlight with the general election set to be called in the coming months and both major political parties pledging to boost growth. Long-term illness has been cited as the main reason for about a third of the working-age inactive population not being in the labour force. BBC

6. Retailers boost hourly staff pay. Retailers are hoping raises will build trust and retain staff while ensuring pay aligns with or exceeds the government’s National Living Wage (£11.44 per hour), the Real Living Wage (£12) and the London Living Wage (£13.15). Household names such as Curry’s, Marks and Spencer, Primark, John Lewis, B&Q and Ikea have all raised pay, with competition especially strong amongst supermarkets. After announcements from Tesco and Asda, which are both investing hundreds of millions of pounds in raising minimum pay to £12.02 and £12.04 respectively, Aldi UK vowed "never to be beaten on pay". It has since increased its minimum rate for a second time this year to £12.40. The discount grocer says this raise gives it the highest level of entry pay by a British supermarket. Retail Gazette

7. Chain outlets openings rebound. Despite noteworthy closures from Wilko, LloydsPharmacy and Paperchase last year, the number of new outlets opened by UK chains was the highest since 2019, according to PwC’s chain outlet openings and closures report. Mostly focussed outside of city centres, the increase was almost entirely driven by hospitality sites including coffee drive-throughs, bubble tea shops and fast-food restaurants. There are also now 48 additional petrol stations on UK roadsides, boosted by the roll out of electric vehicle charging stations. There remained a net decrease of 5,000 UK stores in 2023. BBC

8. How to align with a new boss. Managers have an outsized impact on their teams’ work experience and morale. According to research from consulting firm Gartner and published in Forbes, when a new or transitioning leader is struggling, their direct reports’ productivity is about 15% worse on average than those reporting to a high-performing manager. They’re also 20% more likely to feel disengaged or leave the organisation altogether. Experts cited in Harvard Business Review said the best way for those reports to handle a new boss is to have empathy, learn about the new manager’s priorities and preferences and be upfront when communicating about them. Want a leg up on the competition? READ MORE

9. Best place to live in the UK. North Berwick in East Lothian topped a list of 72 locations chosen by The Sunday Times to represent the best of the UK in the annual Sunday Times Best Places to Live guide. With beaches, a “thriving high street” and a “great school”, said the paper, the increasingly popular Scottish town is a “perfect example of the way our priorities have changed” when choosing where to set up home. The comprehensive guide was released online on Friday, with an abridged version published as a magazine supplement on Sunday. The Sunday Times

10. The bottom line. The average duration of House of Commons sitting in the current parliamentary session is seven hours and nine minutes. Between 1997 and 2023, the average was just under eight hours, and the peak was 9 hours and 15 minutes in 1998 to 1999. The current duration marks a “record low”. Financial Times