Gen Z harder to motivate than previous generations, say employers
New research from business and financial adviser Grant Thornton UK LLP shows that many employers are finding it challenging to motivate their Gen Z workforce and are adapting their training methods to better meet the needs of their younger cohort.
The research, which analyses the responses of 2,000 people aged between 16 – 25 in the UK and 605 UK mid-sized businesses, explores Generation Z’s views of the working world, as well as employers’ approaches to supporting their younger workforce.
It finds that over one third of businesses say it is more difficult to motivate their Gen Z employees compared to previous generations at the same age. Consequently, the majority (88%) of employers surveyed are adapting their training methods to meet the needs of the newest members of the workforce.
Over a third of these (36%) have introduced more personalised training, specifically tailored for individual needs. Nearly one in three (32%) have also moved towards more on demand content and more gamification within their training (30%), to appeal and engage with the new younger cohort.
The pandemic had a significant impact on young people’s education and opportunities for a first part-time job. The research suggests that this may have had a knock-on impact on how prepared they feel for certain aspects of the workplace. Gen Z respondents felt they were least prepared for softer skills such as verbal presentations and persuading and influencing. This was reflected in the views of employers who also noted that Gen Z needed support with developing these skills.
Three quarters (72%) of the young people surveyed believe that what they do for their job will be an important part of their identity and the research identified what Gen Z consider the most motivating reward for going above and beyond in their role at work:
· Career progression and opportunity to do more interesting and challenging work
· Annual salary increase
· Direct verbal appreciation from line manager and colleagues
However, Gen Z workers also have specific expectations around what they believe are unreasonable asks in an early career job. Over half (51%) think it’s unreasonable to be expected to take on extra responsibility without compensation, while 40% think regularly working 10-hour days should not be expected. One in three (31%) also believe that being expected to study outside of working hours is unreasonable, which is a common requirement for those working towards gaining a professional qualification.
Ronnie Corbett, Audit Culture Director at Grant Thornton UK LLP, said: “This insight into how the current generation of young people view careers and work will help to inform and shape decision making about how we best support them as they progress – after all, these are the people that will be running our firm one day.
“Generalisations are easy to make, but we must be mindful that there are many different factors that determine a person’s mindset and motivation – age is just one of them.
“Workplaces, and society at large, are rife with age-related (across generations) stereotypes, which are not always accurate. This is why it is important that we better understand how beliefs about age affect our workplace, and work to dispel some of the rhetoric that creates barriers and inhibits cohesion.
“This is an area of inclusion that needs more focus. Harnessing the power of different perspectives is an opportunity, and it’s something we are working on as firm to leverage – it’s in everyone’s best interest to do so.”
Opticians completes merger
Lesley Cree Opticians has completed its merger with Amanda Findlay Eyecare.
Founded in 2012, Lesley Cree Opticians is a family run independent opticians based in Radcliffe on Trent and was recognised as the Association of Optometrists (AOP) ‘National Young Practice of the Year’.
Amanda Findlay Eyecare, founded in 2007, has been delivering personalised eyecare services through two practices located in the villages of Keyworth and Ruddington.
Under this new partnership, both entities will operate under the same directorship of Lesley and Ben Cree. Amanda Findlay, while stepping back from ownership responsibilities, will maintain her clinical role as the lead optometrist.
In response to the merger, Lesley Cree from Lesley Cree Opticians said: “We have recently been saying that we have just about achieved our growth goals at Radcliffe, so when this opportunity arose, we were surprised but felt ready to take on another challenge!”
Amanda Findlay added: “When I decided to take a step back my natural choice was Lesley Cree Opticians as I knew they shared similar principles and values and that our patients would continue to receive a personal and very caring service.”
Ben Cree said: “We anticipate a seamless merger given our shared principles and values. Our aim is to combine the ‘best bits’ from each practice to provide an even more enriched experience for patients in Radcliffe, Keyworth, and Ruddington. As well as eye care, patients will now be able to access a wider choice of frames, and additional services such as hearing tests, earwax removal, and an Optos eye scanner which is based in Radcliffe.”
Legal advice was provided to Lesley Cree Opticians by Adam Gilbert from AG Corporate Law (AGCL).
Commenting on AGCL’s involvement in the deal, Adam said: “I’m very pleased to have the opportunity to facilitate the merger of two highly respected businesses, both known for their excellent patient care and shared values.”
The enlarged eyecare business practice will now have around 20,000 patients and have capacity to carry out well over 100 eye tests per week which will enable local people to access local services from an independent company.
Bamboo Rose acquires Nottingham’s Supply Pilot
Bamboo Rose, the collaborative product development, sourcing, and supply chain platform for global retailers, has acquired Nottingham-based Supply Pilot.
Supply Pilot, a provider of supplier engagement and collaboration software, transforms the way retailers work with their suppliers. This move extends the Bamboo Rose retail management platform with enhanced supplier collaboration capabilities, to further support supply chain visibility and foster Environmental, Social Governance (ESG) initiatives.
“Today’s retail landscape is more complex than ever, requiring clear and continuous collaboration between retailers, suppliers, and vendors,” said Matt Stevens, CEO of Bamboo Rose. “Supply Pilot leads the market with proactive supplier engagement and collaboration. Together, our platforms will drive unprecedented efficiency and enable sustainability. We are truly excited about the possibilities that lie ahead with Supply Pilot.”
“The acquisition of Supply Pilot by Bamboo Rose is exciting news for retailers and their supply chains,” said Ajay Jindal, CIO of MGF Sourcing. “With their Global Trade Management solution and vendor base, I am energized about the potential that lies ahead as a Bamboo Rose customer.”
“We are delighted to join forces with Bamboo Rose to conquer complex retailer/supplier engagement pinch points. As one company, we’ll offer the most extensive supplier collaboration platform in the market,” said James Butcher, CEO of Supply Pilot. “We’re eager to join this growing team of talented retail technologists to dramatically improve digital transformation for our global partners.”
Dunelm sees strong first quarter sales growth
Dunelm, the Leicester-headquartered homewares retailer, has hailed “strong sales growth” for its first quarter.
According to a trading update for the 13-week period ended 30 September 2023, total sales increased by 9% to £390m, with both stores and digital channels performing well.
Nick Wilkinson, Chief Executive Officer, said: “Our proposition, which offers an increasingly wide range of homewares products, continues to prove popular with customers, as we delivered another strong sales performance in Q1. We continue to have a laser focus on outstanding value, and customers can now find even more choice with the introduction of new ranges such as live plants.
“We are reaching more and more UK consumers through our expanding store estate, and our latest marketing campaign, which is our biggest to date, showcases the breadth of the Dunelm offer, reinforcing our position as ‘The Home of Homes’.
“There remains a significant opportunity for Dunelm to take further market share and we are excited about the progress we are making against our plans, through targeted and thoughtful investment, in order to seize the compelling opportunities ahead of us. We remain very confident about our prospects for continuing to drive sustainable growth.”
Figures show new businesses are booming in Chesterfield
Official figures presented at the Chesterfield Investment Summit show record levels of startups setting up in the Chesterfield area, alongside substantial growth in the town’s visitor economy and construction sectors. Survival rates for companies in Chesterfield far exceed the national average.
New business activity in Chesterfield, Derbyshire’s largest town, reached record levels in 2022 and is expected to grow again this year, according to figures shared at the Chesterfield Investment Summit. Analysis of Companies House data, the official register of UK companies, shows that 1,021 startups with Chesterfield addresses were registered in 2022, 4% more than in 2021, and indicates the area is on track to create over 1,100 more businesses in 2023.
Analysis from Destination Chesterfield – the organisation responsible for promoting investment in the town – shows strong levels of new business activity in several sectors prioritised in Chesterfield Borough Council’s growth strategy, as well as encouraging signs for the town’s independent retail sector:
- 92 new hospitality companies were launched in Chesterfield during 2022, a 10% increase on 2021 (84) and more than three times the number (29) created in 2012. Hospitality is a crucial component of Chesterfield’s growing visitor economy, which attracted 3.7 million people in 2022 (20% more than 2021), according to Chesterfield Borough Council. The visitor economy supports over 2,000 full-time jobs in Chesterfield and was worth £207 million last year.
- 106 new professional services companies were created in Chesterfield during 2022, an increase of 29% on 2021 (82). They include 27 management consulting companies, 22 engineering advisory firms and 12 advertising and digital media specialists. Chesterfield is actively encouraging professional services firms to locate to the town to help achieve a 15% increase in higher-skill, higher-wage knowledge-based occupations for residents by 2023.
- 99 construction startups were established in Chesterfield in 2022, 10% more than 2021 (90) and 55% higher than 2012 (64). Data from Chesterfield Borough Council shows the number of new homes built in Chesterfield has more than doubled over the last decade to reach 373 completions in the year to April 2023. Chesterfield has exceeded its new build target in each of the last four years and the council has earmarked several prime locations for new residential development as part of plans to build more than 4,000 new homes by 2035.
- 124 retail and wholesale startups began trading in Chesterfield in 2022. Although this was down 5% on 2021 figures, it represents a 49% improvement over the last decade and is expected to grow to more than 150 in 2023. The number was driven, in part, by a threefold increase in online retail startups over the last decade. Entrepreneurs in Chesterfield launched 23 e-commerce companies in 2022 and are on track to create over 40 more during 2023.
CEO named for nuclear fusion plant at West Burton
Paul Methven has been named as the inaugural CEO of UK Industrial Fusion Solutions responsible for the delivery of STEP – a prototype fusion energy plant to be built at West Burton in Nottinghamshire.
STEP will be led by UKIFS, a wholly owned subsidiary of the UK Atomic Energy Authority, with Professor Sir Ian Chapman remaining as the Group CEO.
The STEP programme aims to pave the way for the commercialisation of fusion energy and the potential development of a fleet of future fusion powerplants around the world, ensuring the UK remains at the forefront of a new technology and emerging industry.
Minister for Nuclear and Networks, Andrew Bowie, said: “The STEP programme is at the heart of our Fusion Strategy – key to making the potential of new fusion energy a commercial reality, and to drive economic growth.
“Paul Methven will bring a wealth of experience to the programme, working to deliver a fusion reactor by 2040 and to cement the UK’s place at the front of the global race to develop this cutting-edge technology.”
Professor Sir Ian Chapman said: “STEP has the potential to be a revolutionary programme, but it is highly complex and involves great uncertainties. It needs a brilliant CEO who can manage such complex engineering programmes and grow and unite a national endeavour to deliver fusion.
“Im Paul Methven, we have secured exactly that – a brilliant leader with a track record of working in complex major programmes that matter to the country and leading diverse teams in public-private partnerships. I am excited to work with Paul and his team to deliver STEP and make fusion power a reality.”
Paul joined the STEP programme in September 2020 from the Ministry of Defence, where he was Director of Submarine Acquisition at the Submarine Delivery Agency. In this role he was Programme Director for Dreadnought, the UK’s second largest major programme after HS2, and has previously led a number of other major and complex programmes across the MoD.
Fusion is said to have the potential to deliver safe, sustainable, low carbon energy for generations to come. It is based on the same processes that power the sun and stars.
When a mix of two forms of hydrogen are heated to extreme temperatures – 10 times hotter than the core of the sun – they fuse together to create helium and release huge amounts of energy.
Fusion energy has the potential to provide ‘baseload’ power, complementing renewable and other low carbon energy sources as a share of many countries’ energy portfolios. Achieving this involves working at the forefront of science, engineering, and technology.
Octavian Security UK makes four senior hires
Octavian Security UK, the Nottinghamshire-based accredited security protection firm, has made a quartet of senior appointments as the company looks to expand even further.Kiran Ghuman has been named as Octavian Security’s new Managing Director and will steer the company with a strategy firmly fixed on growth through providing the company’s broad spectrum of services and helping organisations to better manage their security solutions.Meanwhile, Anoop Dhaliwal joins the company as Director of Business Development. Anoop is a seasoned professional with a career-long record of consultative sales and business development.Hannah Foody joins Octavian Security UK as Business Development Manager. Hannah comes from a legal background and was most recently a private client advisor at Taylor Rose in Birmingham.Finally, Bilal Ahmed joins as Finance Director to strategically guide Octavian Security to further growth.
Bilal joined Octavian after he successfully completed his fixed term contract at the Arts Council England as Senior Officer, Financial and Risk Analysis. Bilal managed financial risk for 828 National Portfolio Organisations in England and assisted in funding round for 2023-26 as part of the Government’s Levelling Up Programme.Sabrina Wolfreys, Head of HR at Octavian Security UK, said: “To be able to attract high calibre people to the business has always been our strength and this has continued with the appointments of Kiran, Anoop, Hannah and Bilal. We’re confident our clients will reap the benefit of their experience and ingenuity almost immediately and I look forward to driving the business forward alongside them.”The appointments come as Octavian Security UK, which is based in Bingham, Nottinghamshire, is reporting huge demand for its services due to a number of significant contract wins across multiple locations.
The value of the UK construction industry
The UK construction industry has a role in almost every aspect of our society. This all-encompassing sector is responsible for our infrastructure including transport, housing, and the nation’s energy supply. Discover details of the value of the UK construction industry and the challenges it is facing.
Economic impact
Construction is one of the UK’s major industries. In 2022, it drove 6.2% of the UK’s GVA (Gross Value Added), a measurement which tracks the increase in economic value due to a sector’s production or services. The GVA takes into account production costs, excluding labour.
This means that, outside of services which are the UK’s biggest earners – think retail, financial, and healthcare – the construction industry is the second-most profitable sector after manufacturing.
Social development
The construction sector is responsible for all infrastructure development and maintenance in the UK. The industry therefore has a major part to play in improving key aspects of our lifestyle, from roads to the buildings where we live and work.
In 2021, infrastructure growth increased by a staggering £7.3 billion compared to 2020 figures. £5.6 billion of this was new road development, with the rest primarily invested in improving train travel. An example of investment in our railways is the recently scaled back HS2 project which aimed to link Midlands and northern cities with London.
Sustainable values
With a view to slowing climate change, the UK has pledged to have net-zero CO2 emissions by 2050. This involves moving away from fossil fuels and embracing renewable energy instead, a revolutionary move which will be driven by the construction industry.
For example, the UK is aiming to decarbonise the national grid by 2035 and rely instead on power generated by home-grown green energy. This plan is grounded in the implementation of green technologies such as building and connecting off-shore wind farms.
With residential buildings responsible for a high proportion of the UK’s carbon emissions, housing is also set for a transformation. The construction industry will be driving improved insulation and the replacement of traditional gas boilers with green heating systems.
Future challenges
As well as facing the difficulties involved with the move to a more sustainable society, the UK construction industry is facing substantial short-term future challenges.
A combination of Brexit, the pandemic, and disrupted fuel supplies following Russia’s invasion of Ukraine have led to a shortage of essential materials. Exacerbated by the fact that the UK construction industry is in a period of growth, limited supplies is increasing product cost and slowing the pace of building projects.
These delays and the subsequent inflated estimate contract value (ECV) of each project has led to increased premiums in builders’ insurance for UK construction companies, as well as a predicted fall in sector activity in 2023. This is making it harder to keep projects profitable, especially for smaller companies working outside of the public sector.
Freeths launches bursary scheme for Leicester students in honour of Mukesh Patel
Law firm Freeths has established a bursary programme for law students at the University of Leicester and De Montfort University in memory of Mukesh Patel, former Managing Partner of Freeths’ Leicester Office.
The bursary will provide local undergraduate law students with an award of £4,000 a year for three years with a focus on the socio-economic backgrounds of students who want to pursue a career in law.
The firm launched the scheme to honour Mukesh’s legacy and his commitment to diversity and equality within the legal profession and to the local business community.
A respected and popular member of both Freeths and the local legal community, Mukesh, who was born and went to school in Leicester, led the firm’s Dispute Resolution team in Leicester and subsequently became Managing Partner of the Leicester office in 2014. He died on Saturday, February 18th, aged 54, leaving behind his wife Rita and their two sons.
Lisa Gilligan, Managing Partner of Freeths Leicester, said: “Mukesh was always ready to help, encourage and support students particularly those from less privileged backgrounds.
“We hope that this bursary will not only ensure that we continue to honour his vision and passion but also help to support a pipeline of local law graduates to progress their careers in our region.
“Graduate retention in Leicester is a well-documented challenge and the bursary will help Freeths to play its part in addressing this head on.”
Rita Patel and her sons continued: “From humble beginnings himself, Mukesh was a firm believer that anyone with passion and drive should be afforded every opportunity.”
In addition to the financial award, Freeths will also provide the students with a mentor throughout their degree course, a paid summer placement as well as an interview for the firm’s graduate apprenticeship scheme (subject to qualifying criteria) based in the Leicester office.
Sarah Thomson, Director of Engagement at De Montfort University, said: “Mukesh was well known and loved by many at DMU so we are delighted that he will be remembered through this fund which will support students to reach their potential whilst studying at university.
“Scholarships and Bursaries are becoming more essential for more students in the current economic climate to allow them to participate fully in university life. It is fantastic that Freeths are supporting talented students in this way and encouraging them to stay in Leicester to work once they graduate. We would like to express our gratitude to them and to Mukesh’s family for this award.”
Steve Corbett, Director of Development and Alumni Relations at The University of Leicester, added: “The Freeths Skylark Scholarship is a generous package of benefits aimed at supporting Law students who are facing financial challenges throughout their time at university and beyond.
“From monetary support to mentoring and placement opportunities, the Scholarship has been developed to offer recipients a solid first few steps on their way to a successful career in law. A huge thanks to Freeths for choosing to support Leicester students in honour of Mukesh Patel.
“The Freeths Skylark Scholarship is part of the University of Leicester’s broader Skylark Scholarship programme, which has been established entirely thanks to the support of philanthropic donors. We look forward to seeing our inaugural Skylark scholars progress and hope to see this transformational scholarship programme grow.”
Derby Market Hall gets ready for business
Derby’s Market Hall has moved a step closer to completion, with the search for creatives, makers and traders beginning.
Businesses throughout the region are being invited to register their interest in operating from the refurbished Market Hall, which will bring together the best of the region’s independent shopping, eating, drinking and entertainment when it reopens in Spring 2025.
A series of events are planned for a wide variety of potential businesses to outline the opportunities. Almost 100 businesses have signed up to attend the first event at the Museum of Making next Monday, 23 October. ‘Creative Placemaking: Derby’ will look at how culture and creativity can be key drivers for the city’s transformation and growth.
Councillor Nadine Peatfield, Cabinet Member for City Centre, Regeneration, Culture and Tourism at Derby City Council, said: “In our 2023 manifesto we pledged to ensure that Derby Market Hall was the right space for Derby businesses and visitors alike.
“In May, I did just that. We brought in Hemingway Design and other experts in modern markets of the future to help us reflect, re-assess and make sure the offer was not only the right thing for Derby but a successful offer for such a prestigious venue that we have waited so long for.
“It’s not surprising that so many businesses are interested in this exciting new chapter of Derby’s Market Hall. This is a fantastic opportunity for both established and up and coming businesses to be part of a modern central hub while benefiting from Derby’s rich history and heritage.
“We aren’t just looking for traditional market traders. When it reopens, the Market Hall will offer permanent and pop-up trading opportunities for a variety of businesses – makers, traders, start-ups, creatives, and more! We want to hear from as many people as possible, from the experienced trader to the start-up who wants to try out an idea.”
The transformed market will offer:
- A carefully curated mix of traditional and themed stalls, including quality fresh produce
- Make and trade stalls and creative space
- A cosmopolitan food court and bars
- Co-working space
- Events and pop-up activity
Derby City Council has appointed design consultancy Hemingway Design to help bring alive the ambition to create a building that will be a hub for creatives, makers and traders, building on the city’s heritage of innovation and industry.
Wayne Hemingway, Partner at Hemingway Design, said: “This is an opportunity for forward-thinking independent start-ups and existing businesses to be part of a project and creative community that will operate out of this magnificently restored, historic Derby building and play a role in re-energising this part of Derby’s city centre.
“The aim for the incoming Derby Market Hall business community is to be a low-risk venture, with affordable and flexible rates and a range of mentoring and support to help businesses grow and develop.”
Located at the heart of the city centre, linking Derbion and St Peter’s Quarter to the Cathedral Quarter and Becketwell, Derby Market Hall will play a key role in widening the diversity of the city centre economy.
Councillor Peatfield added: “A vibrant city centre is a key part of Council strategy to drive confidence and investment in the city. The ambition is for Derby to become a place where more people actively enjoy a wider cultural choice, and we know that’s what people want from their city centre.”
“The Market Hall is one of our most historic and prominent buildings. Our vision is to deliver a place where people want to visit and spend time, rather than pass through. We want Derby to be ‘the place to be’ destination, attracting visitors from nearby towns and cities,” Councillor Peatfield said.
The £35.1m project is partly funded with £9.43m from the Government’s Future High Streets Funding (FHSF) and the transformed Market Hall will generate £3.64m for the local economy each year.
Work is already underway on the Victorian building to turn it into an attractive retail and leisure destination fit for the future.
The extensive structural restoration of the Market Hall’s cast iron, copper and glass roof was finished in August 2022 and needed a scaffolding structure weighing more than eight blue whales to complete the works. Featuring an impressive cast iron and glass barrel-vaulted roof, this will be the only covered market of its type in the East Midlands.
The second phase of the transformation, now underway, focuses on refurbishing the interior and developing the public space outside at Osnabruck Square.
This work includes re-instating the original two entrances and installing a grand central staircase. The old stalls have been removed to reveal a huge open plan space on the ground floor.
A new frontage will incorporate full-length windows overlooking Osnabruck Square to open up the area inside and outside the building, with the scheme set for completion in Spring 2025.
