May marked the announcement of the upcoming General Election on July 4th, 2024, which poses significant implications for businesses, requiring adaptability to potential changes in taxation and regulations. Last month we also saw reports discussing the rise of employee data breaches, stressing the need for organisations to have robust cybersecurity measures in place. Additionally, with the warmer months now fast approaching, businesses should focus on enhancing employee engagement during summer, and Mental Health Awareness Week in May highlighted the importance of physical activity for mental health.
General Election Announcement
The next General Election was announced last month and is due to be held on the 4th of July. As a result, businesses must prepare for various outcomes and changes resulting from the election results, including potential new policies and legislation that may arise from the new government.
Political stability is crucial for business confidence, enabling informed decision-making and long-term planning. Conversely, uncertainty can delay investments until the post-election regulatory and economic landscape becomes clearer.
Potential Policy Changes and Their Impact on Business
Changes in taxation and regulations can significantly affect business operations:
- Taxation: Adjustments in capital gains tax, national insurance rates, income tax, or VAT can influence investment decisions, labour costs, and overall financial planning. Staying informed and seeking professional advice on taxation is essential.
- Regulations: New compliance requirements, such as environmental regulations or labour laws, can increase costs and necessitate operational adjustments. Businesses may need to invest in new technologies train employees or hire consultants to meet these new standards.
Remaining adaptable and informed about potential changes is vital for all businesses navigating the uncertain political environment.
Employee data breaches on the rise
According to a report by Nockolds (based on Information Commissioner’s Office data), employee data breaches in the UK hit a five-year high in 2023, increasing by 41% from the previous year, with reports to the Information Commissioner’s Office (ICO) rising from 2,279 in 2022 to 3,208 in 2023. Ransomware attacks also surged by 57%. This discovery regarding employee data security should be alarming to all organisations and highlight the dangers of lax data security measures when safeguarding employee information. It is just as important to protect the data of your staff as it is for your patients or clients, as organisations can still run foul of GDPR legislation when related to staff data leaks or abuse. This includes implementing measures to prevent the possibility of successful cyber-attacks against your organisation.
In May, the UK armed forces were the victim of a cyber-attack resulting in the breach of employees’ personal information, including names, bank details, and addresses. As a result, the external payroll system was disabled within the organisation until it was deemed to be safe, meaning that not only was sensitive staff information compromised, but the running of operations was also adversely affected.
In summary, organisations have a responsibility to ensure compliance with data protection regulations and embedding a culture of cybersecurity through continuous training and policy implementation. It is also important to make sure that any of your external systems, such as HR management software, are also cybersecure, such as having an ISO 27001 accreditation or similar.
Improving Employee Engagement
According to a study by Captivate Network back in 2012, productivity drops by around 20% during the summer months. This is often being cited as being due to employees wanting to enjoy the better weather outside, and for parent employees, children being on leave from school. This can create a decrease in employee productivity, as they are more likely to be distracted by these factors than in the cooler months. So, what can employers do to promote better employee engagement over the warmer months?
- Outside meetings: if possible within your organisation, it could be beneficial to hold some team meetings outdoors when the weather is pleasant. This can provide employees with some fresh air, and a change of scenery, as well as being able to enjoy some warmth and sunshine. It is vital however to ensure that any meetings conducted outdoors in a less-private space do not contain any confidential or sensitive information.
- Summer socials: get your team together for an outdoors event and enjoy the summer months! This could be in the form of a picnic lunch at a nearby park for individual teams, or an all-day BBQ event for the entirety of the staff. Either way, it is certain to boost morale and recognise that employees want to enjoy some summer fun!
- Ice cream: seems simple, but it is a nice and easy win on a hot day! By stocking ice creams or cold beverages for your staff to enjoy throughout the day, you are providing some much-needed relief from the heat and showing appreciation for your employees working through this.
Mental Health Awareness Week
Mental Health Awareness Week 2024 occurred from the 13th to the 19th of last month,as part of Mental Health Awareness Month, and once again opened up many discussions surrounding mental health within the workplace. The theme this year was “moving more for our mental health”. With this theme in mind, what are some easy but effective methods workplaces can adopt to encourage better mental health via movement?
- Promote short breaks to be able to stand and do stretches: giving employees a break from a desk or from a lot of static standing can be very beneficial for their physical health, and therefore helps their mental well-being. Doing stretches and standing after sitting for long periods of time can help avoid muscle soreness and improve health in the long-term too.
- Set up a running or exercise club: by setting up a club for employees to join for running or other physical activities during lunch periods or after hours, you can help them get started on becoming active in a supportive environment. This can also help foster better relationships between colleagues, which is also a benefit for employees’ mental wellbeing whilst at work.
- Walking meetings: change up how you conduct team meetings and organise a walk whilst you talk! This is a good way to change up how your meetings are held and can help promote creativity and reduce stress by giving a change of scenery and create a less formal environment to discuss work-related topics.
There are many other options available to promote movement within your workplace, including providing exercise facilities, active workstations (such as standing desks), or bike to work schemes. These would include much more planning and consideration for the organisation but would offer great long-term benefits for employees’ mental and physical health.
