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25th April 2025
 
THE HOT STORY
European workers remain the least engaged regional workforce
For only the second time in the past 12 years, the global percentage of engaged employees fell, from 23% in 2023 to 21% in 2024, according to Gallup's latest State of the Global Workplace report. For the fifth year in a row, European workers' engagement (13%) was lower than in any other world region. The primary cause for the global decline in engagement was a drop in managers' engagement. While engagement among individual contributors remained flat at 18%, managers' engagement fell from 30% to 27%. No other worker category experienced as significant a decline in engagement as the world's managers. Two types of managers were particularly affected: Young (under 35) manager engagement fell by five percentage points. Female manager engagement dropped by seven points. "Manager engagement affects team engagement, which affects productivity. Business performance - and ultimately GDP growth - is at risk if executive leaders do not address manager breakdown," said Jim Harter, Gallup's chief workplace scientist.
LEGAL
SFO offers to let off firms who report wrongdoing
The Serious Fraud Office (SFO) has revised its guidance to encourage companies to self-report suspected financial crimes without the fear of immediate prosecution. Under the new policy, firms that cooperate with investigations may negotiate a deferred prosecution agreement (DPA), allowing them to avoid legal action unless they breach the terms. Nick Ephgrave, SFO director, said: "If you have knowledge of wrongdoing, the gamble of keeping this to yourself has never been riskier." However, legal experts like Andrew Smith from Corker Binning caution that firms may still find self-reporting unattractive, saying: "Mr Ephgrave warns companies against trying to bury their skeletons. But in the unlikely event those skeletons are discovered by the SFO, simply pleading guilty can be a more attractive outcome than an earlier self-report." The SFO aims to respond to self-reports within 48 hours and conclude DPAs within six months.
CORPORATE
Former EY and PwC chiefs launch Big Four rival
The former UK boss of EY and the former chief operating officer of PwC are set to launch a new accounting and consulting firm this summer called Unity Advisory. Led by Steve Varley and Marissa Thomas, the firm is backed by Warburg Pincus with an investment of up to $300m. Unity aims to provide tax, consulting, and technology services without an audit division, making it easier to avoid conflicts of interest. Targeting private equity-backed mid-size corporate clients with revenues between £500m and £1.5bn, Unity is already recruiting talent from the Big Four firms. Varley told the FT: "The Big Four are a classy bunch of service providers but people are looking for a proposition that is super client-centric, has really low administrative cost, is AI-led rather than based on legacy infrastructure and, crucially, has no conflicts."
WORKFORCE
Unions on 'collision course' over support staff recruitment
Schools Week reports that the National Education Union (NEU) is on a "collision course" with other education unions after delegates at its annual conference backed a motion calling on the union's executive to "begin actively and openly recruiting" school support staff "with immediate effect," and to "cease all attempts to appease our sister unions." The motion also called for the executive to "make our sister unions aware that this is a member-led union in which conference is the supreme authority, and that our leadership, executive and professional staff do not have the right to override that authority." A GMB spokesperson said the union is "disappointed, though not surprised, that a teachers’ union is taking this course of action," while UNISON said it was "both surprising and frankly confusing that the NEU seems to be taking this approach, which appears to undermine a longstanding TUC agreement."
STRATEGY
Unilever cuts 6,000 jobs in overhaul
Unilever has announced the elimination of 6,000 jobs as part of its restructuring plan, which aims to cut 7,500 roles globally to save €800m. The company is "ahead of plan" with these changes, with €550m of savings expected by 2025. The restructuring includes the spin-off of its ice cream business, which will operate as The Magnum Ice Cream Company from July 1, 2025, with listings in Amsterdam, London, and New York.
WORKPLACE
Shoplifting offences reach record high
The number of recorded shoplifting offences in England and Wales reached 516,971 in 2024, marking a 20% increase from 2023, according to the Office for National Statistics. This figure represents the highest level of shoplifting since records began in 2003. Tom Ironside, director of business and regulation at the British Retail Consortium (BRC), said: "While the ONS statistics show that shoplifting is at record levels, their figures severely underestimate the problem." The BRC estimates that actual incidents exceed 20m annually, with shop theft costing retailers over £2.2bn each year. Retailers are calling for increased police resources to combat the growing issue, with two-thirds of surveyed staff reporting violence linked to theft incidents. Andrew Goodacre, chief executive of the British Independent Retailers Association, also described the figures as "the tip of the iceberg."
Revolut tracks adherence to risk and compliance rules
Financial technology company Revolut has introduced a new initiative called 'Karma' to enhance its working culture and improve compliance among staff. The system tracks employee behaviour, and allows for the granting or docking of points that influence bonus payouts. A report says that Karma "serves . . . as a feedback loop that rewards and corrects behaviours." The initiative comes as Revolut aims to strengthen its reputation following past compliance issues and a challenging work environment.
TRAINING & DEVELOPMENT
Universities to develop 'more consistent' approach to contextual admissions
Universities UK (UUK) has set out plans to establish a "more transparent and consistent approach" to contextual admissions, which take applicants' circumstances and background into account when they apply to courses. UUK will work with UCAS and the social mobility charity the Sutton Trust to review the criteria used for contextual admissions. It accepts that the current system is "hard to navigate and a barrier." UUK president Prof. Dame Sally Mapstone said those "who stand to benefit the most from higher education, such as those from disadvantaged or underrepresented backgrounds, can find it harder to access this opportunity due to their personal circumstances. Higher education should be a realistic option for everyone with the potential to succeed, no matter their background."
TECHNOLOGY
Cambridge students shun ChatGPT
A survey of students at the University of Cambridge has found that fewer than a third are using artificial intelligence tools like ChatGPT to help them with assessed work, while fewer than two thirds have made any use of the technology at all during their studies. The survey of 333 undergraduates found that many students are opposed to such tools on moral grounds, whether because they consider it a shortcut or cheat, or due to the technology's environmental and social impact. One student commented: "Being admitted to Cambridge is evidence enough that you're capable of working hard and meeting the demands of the course . . . so resorting to generative AI is lazy and thoughtless."
INTERNATIONAL
Rome conference trip cancelled by Tesla exec amid security concerns
A senior Tesla executive has cancelled her attendance at a conference in Rome over fears of protests surrounding the carmaker. Tesla cars, infrastructure and offices have recently become targets of vandalism in several countries, including Italy, in response to CEO Elon Musk's right-wing activism. "Given the recent protests and violence against Tesla, and now in Rome, I've been asked to hold my external presence and travel . . . I won't be able to attend," Samantha Harris, Tesla's Global Sustainability Lead, explained in an email to the European Institute of Innovation for Sustainability (EIIS). She had been due to speak at Regenerative Futures, a conference planned in Rome for May 16-17 by the EIIS.
DOGE layoffs of federal mediators leave labour disputes in limbo
The Trump administration's cost-cutting team, the so-called Department of Government Efficiency (DOGE), has effectively shuttered a 79-year-old federal agency that mediates labour disputes. The terminations at the Federal Mediation and Conciliation Service have precipitated concern among unions and employers alike about who will step in to help ease labour conflicts. The agency, though relatively small and obscure, is said to play a vital role in helping to settle disputes so as to avoid labour unrest that can disrupt the free flow of commerce, according to former federal mediators and experts.
OTHER
Woman who tricked her way into men-only Magic Circle finally allowed in
A magician who tricked her way into the Magic Circle is finally being granted membership - 34 years after she was kicked out. Sophie Lloyd says she disguised herself as a man to fool examiners into letting her join the elite society in 1991, at a time female magicians were not allowed to be members. When the Circle announced it was permitting women to join later that year, Lloyd revealed her deception, prompting the society to expel her at the very same meeting it admitted its first female magicians. Following a public search to find her, the Circle has now apologised to Lloyd and presented her with a membership certificate yesterday evening.
 


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