The HR & Finance Connection

2024 is flying away! Another month has passed and with that comes another edition of the HR & Finance Connection. As your primary source for news and updates on HR and Finance, we are committed to providing you with the latest developments. So, without further ado, let's jump into the important topics that currently trending in the news.

Latest in HR

Ethnic diversity in FTSE 100 companies continues to rise

According to a study by 汤森路透 , 97% of FTSE 100 companies now have at least one director from an ethnic minority background on their board, an increase from 84% in 2022. The study also found that 73% of companies in the FTSE 250 have improved representation with at least one director being from an ethnic minority background, a 55% increase from a year ago. Sandra Kerr, race director at Business in the Community, said "With one in five working-age adults in the UK coming from a black, Asian, mixed race or other ethnically diverse background, it is essential that the UK workforce is representative of the wider population at all levels across organisations.” Read more on the study by clicking here.

NHS consultants to vote on improved pay offer

An improved pay offer for NHS consultants in England has been agreed on by the British Medical Association (BMA), Hospital Consultants and Specialists Association (HCSA) and the Government after the previous proposal was narrowly rejected. The new pay offer will now be put to consultant members in a vote. BMA consultant members voted 51.1% against the previous offer in a referendum that closed on the 23rd of January. Both unions will recommend their members accept the improved offer in electronic ballots closing on the 3rd of April. Click here to read more on the improved pay offer.

Ex-Post Office chair accuses CEO Nick Read of bullying head of HR

Henry Staunton, who was sacked as chair in January by business secretary Kemi Badenoch, told MPs in a letter that he believed Read’s behaviour towards the company’s head of HR had “constituted bullying”. Badenoch cited bullying allegations against Staunton as part of the reason for his dismissal. However, the former Post Office Ltd chair claimed that these were based on a complaint document focused on Read and not him when he attended a hearing of the House of Commons Business and Trade Committee. Read more on the allegations by clicking here.

47% of UK hiring professionals have cut budgets, third upping tech budgets

A survey from HireVue has highlighted a significant shift in hiring strategies that’s been driven by financial pressures. The study revealed new hiring strategies focused on using technology and a skills-first approach to find the best candidates and achieve Diversity, Equity and Inclusion (DEI) goals. 47% of UK businesses have cut their budgets over the last 12 months with 30% of them turning to technology by increasing their tech budget in the hope of streamlining processes and finding cost savings. Click here to learn how technology could be the answer.

Latest in Finance

Monzo secures $5bn valuation as it prepares to return to US

The London-based fintech prepares a second attempt to break into the US market following a fresh round of funding that has boosted its valuation to $5bn. They confirmed that they had raised $430mn from new and existing investors in a fundraising led by Alphabet Inc. ’s investment fund CapitalG . Monzo Bank made a pre-tax loss of ￡116.n in 2023 however the chief executive TS Anil expects to turn a profit this year. Previously having been told the company was unlikely to receive a banking license in the US market, the fintech has hired a new US chief executive and has announced plans to re-enter the US via a banking partnership that would allow it to bypass a license application. Click here to read more.

‘Erroneous’ filings highlight flaws in Companies House data

Sainsbury's , 麦格理集团 and the Bank of England are among the organisations affected by hundreds of “erroneous” filings at the UK’s corporate register. 800 instances of paperwork were found on 190 businesses from one address last month. These filings appear to show that property owned by the companies has been released from charges granted to banks in return for lending money. This would mean that the lender would no longer be entitled to take possession of these assets in case of failure to repay, something that the companies or lenders affected had no knowledge was submitted. Click here to read more on the Companies House erroneous filings.

Inside our Group

Introducing Graduate Career Solutions , a new brand that is part of our group of companies. They are leading specialists in nationwide graduate recruitment and can be your true partner to guide you through the complexities of the graduate world. Read more about our partner brand by clicking here.

What’s happening in Ashley Kate

We sat down with Bev Markland , Chief People Officer for Agilitas IT Solutions Limited , for the latest instalment of our Leadership Stories Unveiled series. Learn about her journey within HR, spanning over 20 years in senior positions, and her advocacy for diversity, equity and inclusion by clicking here.

Upcoming Events

Employment Law Update

Our popular Employment Law updates return for 2024, in partnership with international law firm Eversheds Sutherland (International) LLP. Join John Morgan and Esyllt Beagrie on the 15th of May as they provide an update on all the pertinent key legal developments to be aware of. Booking is now open and you can secure your FREE spot by clicking here!

HR Director Boardroom

We look forward to our SOLD-OUT HR Director Boardroom event, in partnership with Eversheds Sutherland (International) LLP. Jenny Mann , Partner at Eversheds Sutherland, and Vicky Docker, Director at Empowered Change Ltd, will be discussing “Managing Change Fatigue.”

We can’t wait for what is sure to be an insightful and informative session!

Latest Opportunities

That’s a wrap! Thank you for reading our HR & Finance Connection. We hope you found the content useful. Stay tuned for next month’s edition where we will continue to supply the latest insights in the world of HR and Finance.