Tomorrow's Business Today
A city in need of some PR
Trouble looms for the City, it seems fair to speculate. Floats have dried up, fund managers are running scared. Too many bankers, too little trade.
In the movies, and to an extent in real life, high finance is a hard-driving topsy-turvy world. One day you make a million, the next you are sacked.
I think the cycle this time around is both a HR and a PR problem.
A lot of the people now under pressure only just got hired as the City enjoyed a Covid-related boom.
Nowhere in the contract did it say “we will almost certainly ditch you at the first sign of trouble”.
If that is the deal, why would young and brilliant people sign up for it?
No-one I know under the age of 30 wants to live like bankers do. They have balanced lives and an impressive disregard for what the boss thinks.
Most people have adjusted their view of work since the pandemic. An all-consuming job at a bank, or indeed at a newspaper, just isn’t that appealing.
A young reporter said to me a while back, as she headed out the door for good:
“Newspapers make you live in constant fear for your job. Since I have spent the last two years in fear for my life, that just isn’t going to work.”
I think the City needs some PR if it’s going to retain its appeal.
For our Find Out Now poll today we asked people: Do you feel more or less secure in your job compared to this time last year?
You can see the results below.
Press release of the day
One way to cut energy bills is to buy a new home rather than an old one, says this from Redrow (not a disinterested party).
Half of those asked were in the dark on the government’s sustainability and environmental targets.
Julia Green, Head of Sustainability at Redrow, said: “As a nation, the majority of us have embraced ways of living that are more sustainable, such as recycling our waste, using energy-saving lightbulbs and reducing journeys as a result of the increase of working-from-home. However, our analysis shows that many people have something of a blind spot when it comes to the energy use and carbon emissions from their own homes.”
Stories that will keep rolling
1) Who is going to call the bottom for markets?
2) How high could eurozone inflation get?
3) Could Heathrow have handled this any worse?
