Britain, Brexit and managing change
by Tony Langham
Chief Executive & Co-Founder
Tony Langham is Chief Executive & Co-Founder at Lansons. You can contact him directly here.
Britain (or at least England and Wales) will be leaving the EU and we all need to accept the result of the referendum. We shouldn’t indulge any blame games or conversations about a second referendum, or complain at how close the vote was. As the whole of the establishment, including the leaders of all traditional political parties, urged people to vote to remain - 52% to 48% is a conclusive result. Businesses need to reassure their staff, customers and clients – keep a clear head, and get on with life.
The nation’s elite also needs to understand its fellow countrymen. London voted to remain in the EU by 60% to 40% with Manchester, Bristol, Liverpool, Oxford, Cambridge, Glasgow and Edinburgh voting to remain by similar margins. Businesses need to understand the anti-establishment mindset of many fellow citizens to successfully manage their reputation, explain executive pay, engage with employees and handle crises. It’s time for British business to open a new conversation with the British people. Many business leaders and consultants will continue to live, work and advise within the London capital markets bubble, but at Lansons we believe that effective “corporate” communications advice involves greater awareness of society.
'Although I believe we would’ve been stronger in the EU, I also believe we will be strong out' @TonyLangham #Brexit
In the short term, there will continue to be considerable turmoil, in markets and across politics. Several big purchasing decisions, whether to acquire a company or move house, will be delayed. We have to hope the nation’s plans to handle volatility and uncertainty are effective. We are working with our clients to secure what assurances they can, that what they require from the European single market can be maintained. From financial services to healthcare to manufacturing, it will be the detail that matters. We are also working with our clients to understand and reassure their clients and customers.
We can be certain that London will, over the next ten years, lose some European head offices (particularly of financial services companies) to Frankfurt and Paris - and possibly to Dublin or Edinburgh. We envisage that we will be helping some organisations communicate and manage relocation of headquarters, jobs and manufacturing capacity from the UK to countries inside the EU.
We believe that the task facing Britain is to create opportunities for business that will outweigh what we will lose. Our initial thoughts lie in five areas :
'In regulated sectors like FS and healthcare, #Brexit can allow Britain to create opportunities' @TonyLangham
At Lansons, we are positive and forward looking. Britain is a great country and although I believe that we would have been Stronger In the EU, I also believe that we will be Strong Out.
The warning signs of Brexit were always there
by Adam Drummond, Research Manager, Opinium
The warning signs of Brexit were always there
A week ago most commentators, the betting markets, the voting public (according to polls) and even perhaps the leadership of the Leave campaign expected a Remain victory in the EU referendum. While the result may have been a shock, the warning signs of such an outcome were always there.
From the beginning, polls pointed to a mixed picture. Telephone polls confidently showed Remain winning while online polls consistently showed a much tighter race with Leave ahead as often as Remain, particularly for polls conducted in 2016. This led to a great deal of debate about which method was more accurate and although that question has now been answered for this occasion, the divergence allowed both sides to pick whichever results were more comforting to them and assume that they were the most accurate.
Given the narrowness of Remain’s advantage, and in the penultimate week of the campaign even telephone polls showed Leave ahead, many predictions of a Remain victory relied on the assumption that there would be a swing-back to the status quo option. This happened most notably in the Scottish independence referendum when “No” won more convincingly than polls suggested.
However, in contrast with the pro-Union tilt of older voters in Scotland, older people across the UK were the demographic group most likely to be pro-Brexit. It is possible that the status quo swing-back seen in Scotland therefore was more a result of more older people turning out than younger ones and that the same thing happened this time but with the opposite result.
As well as this it is possible that those over the age of 60, and thus in their late teens at the time of the UK’s accession to the EEC and 1975 referendum, saw Britain being outside of the EU as the ‘status quo’ and our EU membership as a 43 year experiment that should come to a close.
The other factor in Scotland that helped predict a status quo vote was that ‘project fear’ had much more of an effect in 2014 than it did in 2016. In Scotland, 42% of voters thought independence would make them personally worse off compared to just 21% of UK voters when asked about Brexit. In contrast, 22% in 2014 said it would make no difference to them vs. 47% across the UK in 2016.
“While the result may have been a shock, the warning signs of such an outcome were always there” @OpiniumResearch
As well as this, the effect of immigration in driving the Brexit vote was effectively absent in the Scottish referendum with issues of sovereignty and democracy taking a much more prominent role.
Ultimately, the EU referendum result was a decision that the costs associated with reducing the levels of immigration were either illusory or worth bearing. One of the reasons that some polls failed to predict a Leave vote was because they based their assumptions about turnout among poorer voters in the North of England on a general election when these voters came out for Leave in much higher numbers than expected. This may have been harder to predict but, given the number of Labour seats where UKIP is now the main challenger, the signs were there as well.
While these factors were all either known or suspected beforehand, another point needs to be emphasised. London voted to Remain by 60% to 40% and London is, coincidentally, where most commentators, national media outlets and polling companies are based. But it is not where most voters live and part of the shock at the result may be because the result was almost literally unthinkable for those of us in London. As the results show, the impact between this polarisation between London and much of the rest of the country can be enormous.
Adam Drummond is Research Manager at Opinium. You can contact him here.
Lansons, Opinium and LSE commissioned a report on the Impact of Brexit on Consumer Behaviour in the lead up to the referendum. You can download the report at the Lansons website.
The Future of Financial Services 2016
In light of Britain's exit from the EU
Read more on this upcoming event
The Future of Financial Services: In light of Britain's exit from the EU
Coming Autumn 2016
Launched in 2013 by Lansons, the Future of Financial Services Conference has attracted industry and business leaders from across Europe to exchange views and gain insights on where the industry is headed, recognise achievements and discuss areas for improvement.
This year's conference will focus on the impact of Brexit.
Who should attend in 2016?
The Future of Financial Services Conference is a top-tier event for senior professionals working in or engaging with the UK financial services industry. Last year’s delegates included:
- Managing Director
- Director/Associate Director
- Head of Corporate Communications
- Head of Financial Services
- Head of Public Affairs
- VP Media Relations
You can register your interest for the autumn 2016 conference at email@example.com and find our more on the Lansons website.
Britain at Work 2016
Q&A with Professor Cary Cooper, Scott McKenzie & Alison Burns
Britain at Work 2016
If you would like to find out more about how Lansons can help you tackle some of your workplace issues then please get in touch with us.
Call: +44 (0)20 7490 8828
Back in April we conducted a comprehensive study of the modern UK workplace - Britain at Work 2016. The study, now in its second year, was launched by Lansons in conjuction with our partners Opinium, to give businesses from across all sectors a true insight into the issues employers and employees are facing in the UK. What is unique about this study is that it gives employees a platform to voice their opinions and experiences, but this is only valuable if businesses listen and react. You can download the full report from the Lansons website.
In addition to the report we recorded a conversation with Professor Sir Cary Cooper from Manchester Business School and one of the leading voices in this space, Scott McKenzie – Managing Director and Head of Change and Employee Engagement practice at Lansons and Alison Burns, former CEO of Aviva Ireland.
You can read a summary of highlights from that discussion below.
What has changed since the first study in 2015?
Scott: We reflected on last year's study and wanted to do a bit more exploration into organisational culture and values as well as people management which was a big theme last year. There are new themes of organisational change and stress, health and wellbeing which are really important factors to consider.
What really jumped out for me is that over three quarters of employees have gone through some sort of major organisational change in the last 2 years, which suggests most employees are dealing with a huge amount beyond their day job. What’s worrying about that is that about half of employees think that those organisational changes have not been well communicated. That suggests while organisations are making these changes the leadership and management haven’t done a particularly good job in terms of explaining and implementing those changes from an employee perspective.
There’s quite a worrying stat that 1 in 4 employees are taking time off due to stress related illness. That could be a ticking time bomb for the UK workplace that we ought to take a closer look at.
So, not communicating messages properly when it comes to change in the workplace and stress are fairly hefty important things the report is outlining?
Prof Cary Cooper: The good part of the report is that job satisfaction levels have increased – that’s great. But a quarter of people feel stressed at work. The leading cause of sickness absence in the UK is for what we call the common mental disorders of depression, anxiety and stress – it is massive now […] we’re seeing it all over the UK. And why? We have fewer people that are doing more work. Employees feel job insecure and they’re not getting the right kind of balance, working in a long-hours culture – we have the longest working hours in Europe!
Alison you led Aviva in Ireland as CEO. What was your experience in Ireland – how does that compare to what this report is suggesting?
Alison: I think when I first took over in Ireland we had a very disengaged workforce – 66% of staff at that time were not feeling engaged with the business and there was some really good reasons as to why that was. So what we did was a significant amount of face to face communication with all of the staff. We didn’t just get the manager in the room and then ask the manager to talk to the staff, we got the manager and their teams in the room. We thought that was quite important because everyone is an individual and they need to work out for themselves what they‘re hearing to feel motivated to work towards an objective and goal.
1 in 4 employees off with #stress related illness. Read more: @LansonsLatest @OpiniumResearch #BritainAtWork report
Do you find that process changed the way the workforce in Ireland responded to you and worked for you?
Alison: Yes particularly when there is significant change. If you‘ve just gone through a significant change with your employer – if you think that’s it it’s done, then you can settle back down and concentrate on trying to do a great job. But if you think this is the latest change and in another year or two years they’re going to do something to me again – that creates an overarching sense of uncertainty, and that’s where I think the importance of the face to face communication comes in.
[…] But your question as to how did this change – the noise in the staff sessions as the business progressed got louder and louder and louder, so you could use the noise as you walked into the room as a good marker of how we were all doing.
Interesting you refer to those face to face meetings in terms of engagement. The report suggests that employees want to see more of that especially during periods of change, but it also suggests that leaders are failing to supply that face to face time – what do you make of that Cary?
Prof Cary Cooper: Well I thought the most interesting thing for me in this report was the bit that most managers think that they’re really great at people management, but their employees don’t. In order to engage people to reduce their sickness absence rates, to minimise their stress, to get work life balance, to make sure they have manageable workloads and realistic deadlines, they need to be socially sensitive – what people term the soft skills – many of them don’t have it.
Scott: I think the issue is that 4 in 10 managers have received no training whatsoever. So you’re in a management position, responsible for the people who work for you to have a good day at work and yet you’ve had no formal training, and indeed you’re not recruited on the basis of any such skills. Is it a surprise that there’s a gap between the way that I see myself as a manager, and the way my employees do? I don’t think it’s that surprising at all.
4 in 10 managers get no #management training! Read more in @LansonsLatest @OpiniumResearch #BritainatWork report
I’m thinking of the case of Toyota and the problems they had when the most senior manager team were never told the most fundamental problems because the team don’t want to upset their managers?
Scott: I think there’s definitely an aspect of that. A sense of people being afraid to raise issues because of the relationships they may have built up, and certainly all the studies including this one demonstrate that people are perhaps closest to their immediate line manager as opposed to the most senior people, so I guess there’s an element of people being a bit afraid of putting their manager in it when faced with bad news. But from my perspective that’s where good leadership begins – they’re good at setting an environment where there is openness and transparency. There is the ability for people to bring bad news and they know that they’re not going to get their head chopped off.
Are you afraid to raise issues with senior members of staff at your company?
Prof Cary Cooper: Prior to 2008 people could move, there was high mobility and people didn’t care whether they got fired even, because you could find another job. We have fewer people doing more work; so we need a different kind of manager. We don’t have them and when we recruit people do we really look at their social skills? At major business schools, do we actually train managers to manage people? We don’t. We give them economics, marketing, HR - every knowledge base, but we don’t actually train them to manage human beings. That’s a real weakness in the UK.
Alison: As a manager my job is to come to work so my team have a good day at work. I’ve never seen that written down on anybody’s job description.
It’s not all bad news in the report. It highlights improvements - increases in job satisfaction and fairer pay...
Scott: I think there has been a positive increase. Last year we saw the number on fair pay come in at about 44%, this year it’s 52%. Job satisfaction has gone up – 54% last year, this year 61 %. So I think those rises demonstrate some positivity in the wider economy and that the workplace is happier than it was 12 months ago.
But is it simply coincidental the economy improves so the workplace improves? Nothing fundamental has changed in the workplace
Prof Cary Cooper: It’s not just about the economy it’s a sense of job security. What’s happening is because the economy is improving, because pay is rising, not massively but it is rising and employment has massively improved, even though a lot of that is part time, contract, zero hours work, people say yes I can feel a little bit more secure.
Final thoughts on the report?
Alison: Whilst there has been a focus on organisation in the last couple of years to crystalise their values and to seek to improve the work environment there still seems to be some disconnect between the work that’s being put in and the perception of employees. I think whilst some really good work has been done there is still a disconnect and that disconnect comes if an individual, particularly a manager has chosen not to engage, or if the leader is not authentic.
Prof Cary Cooper: We spend most of our waking hours at work than we do with our families. And not only that – when we are with our families we are looking at mobile phones, looking at emails. So really the workplace is quite an important place to create a kind of wellbeing culture and make people want to come to work. The big thing for me is the disconnect between the manager who thinks that they’re great people managers and their employees who say they’re not – so that means senior managers need more training. We need a different breed of manager in the UK - they will communicate better, provide more flexible working arrangements, recognise when people aren’t coping and give them manageable workloads. We need a much more socially skilled one.
Scott: The thing I would take away from this report are the issues around health and wellbeing. I’m very concerned about those issues around stress related illness. If that number extrapolated across the UK workforce we will have a major problem and I don’t think organisations are well equipped to deal with that issue. They’re going to have to make significant investments in terms of making sure that managers recognise the signs of workplace stress and related illnesses and that there are proper programmes in place to support those people when they have illnesses.
'The UK workforce could have a major problem'- @scotty_bhoy .Read more in #BritainAtWork report: #stress #work #UK
If you would like to find out more about how Lansons can help you tackle some of your workplace issues then please get in touch with us.
Call: +44 (0)20 7490 8828
Our partnership & upcoming event
Today we have a new partnership with Reputation Institute, an organisation that measures the reputations of thousands of the world’s most prestigious companies using their RepTrak© framework. Their established measurement methodology by founders Dr. Charles Fombrun and Dr. Cees van Riel help organisations understand their reputation, how to improve and rank it.
For over 25 years Lansons has offered a full strategic consultancy, specialising in corporate, media, and political communications. In order to evaluate the quality of our work it’s important that we have meticulous measurement methodologies in place.
We’re a believer of partnerships, where there is a gap in our services we invest in partnerships to challenge our perspectives and deliver quality work.
Reputation Management for Regulated Industries
We’re delighted to be working with Reputation Institute and are holding an event about reputation management for regulated industries.
- How can regulated companies better manage their reputations and navigate reputation risk?
- What can the financial services, pharmaceutical, and energy sectors learn from each other?
- How can corporate communications directors successfully engage the C-Suite to invest more in reputation?
If your organisation is asking any of these questions then please join us for a breakfast debate, hosted by Lansons and Reputation Institute, on Wednesday 13 July from 8.30am – 10.30am. Our expert panel will be discussing the big reputation management trends and challenges for regulated industries, based on findings from 2016 UK RepTrak®rankings – the most comprehensive study of companies’ reputations.
Confirmed panellists so far:
Nick Adams, Director of Corporate Branding, Novo Nordisk
Danny Rogers, Editor, PR Week
Tony Langham, CEO, Lansons
Kasper Ulf Nielsen, Executive Partner, Reputation Institute
The debate will look at why pharma companies are coming out on top, how financial services can move on from the ongoing reputational damage of the recession, and how the energy companies can overcome UK consumers’ negative perceptions.
Places are limited so register your interest now to avoid disappointment.
How to internationalise your thinking
Our international partnerships
How to internationalise your thinking
International reach: Operating in the global markets, our clients manage businesses that are often based in the UK, operating internationally. We work closely with leading independent consultancies across the globe, sharing skills, expertise, knowledge and best practices. We work together on high profile issue management, offering clients strategic communications, through to employee communications, relocation and complex change projects. Knowing our business partners and meeting regularly is key to our ability to deliver streamlined advice. We also run exchange programmes for our colleagues so we are familiar with working together, to enable us to work in harmony and as a team.
In May, members of Lansons senior team participated in global meetings in Atlanta, USA with our partners PROI Worldwide, offering international coverage from leading independent consultancies. In June we were in Zurich, Switzerland collaborating with our specialist financial network, GFCNet.
Board director and German national Anna Schirmer talks through the 5 day conference with PROI Worldwide
When the UK voted to leave the EU, the shock was felt worldwide. A week later, we are facing the consequences of the vote and are moving forward. The world is looking in on us and will judge us on our ability to navigate our way through this.
Yet only a month ago, in May, 80 of the world’s most talented communications consultancy owners and senior consultants gathered in Atlanta for an international communications summit. Whilst none of us thought we would vote for leaving the EU, Lansons tabled a conference segment on Brexit and Leadership. My colleague Ralph and I presented our detailed analysis of the communications tactics and leadership styles of the two campaigns for and against an EU exit thus far. We focused on the key elements that may have influenced public opinion up to that point, looking at key people, but also emotional messages and the topics that would bring it home to the British public. Together with our international colleagues, we discussed ‘what may come next’ and what tactics both sides may be able to employ to swing the vote their way. The importance of the impending vote could be clearly felt within the room.
Today, with the decision clear, we are sharing our Brexit monitoring around the globe to our partners for them to share with their own clients.
Despite the upheaval of the last few days, one thing has remained the same, we are and will remain international citizens, our thinking, ideas and advice for our clients will continue to span borders, countries and continents. It was with that in mind that we attended the annual global PROI Summit in May. We were there to increase cultural, economic and business knowledge.
Independent consultancy owners and entrepreneurs, as well as communications consultants, gathered from over 40 countries, each with their own perspective; shaped by the unique communications needs and aspects of the countries and sectors in which they operate, and by the client briefs and communications disciplines they specialize in. They are experienced brand creators and managers, alert to reputation management through creativity and engagement. Everyone was keen to learn from the work and experiences of their international colleagues, to build their businesses and find ways to collaborate.
After five days of workshops, talks, presentations, case studies and discussions, you walk away enthused to find new ways to approach the communications challenges faced by your clients. Big ideas, simply executed, ways to tackle briefs differently and new ways of finding solutions, both for client work, but also for your teams and agency colleagues.
There were presentations on ways to solve communications challenges, for example, from our Chicago partner who dropped thousands of USB sticks around major cities in America to highlight the importance of cyber security. Or our South African partner making retirement planning a talking point by running a social media campaigns based on pairing two people - one retired, one in their 20/30s, with the same interests and hobbies to showcase that life doesn’t stop in retirement. It is these nuggets of information, the discussions around them and the debates with our international colleagues on their perspectives that we are taking back to our clients to further build on our programmes and make us better consultants.
Professional development and peer mentoring by business leaders is a vital benefit of PROI participation, but it is in our ability to run integrated campaigns or programmes for clients, knowing the strengths of our colleagues, that is most useful.
Collaborating so closely with our business partners enables Lansons to regularly deliver international communications solutions to our client, it also offer us ‘on the ground’ support through specialists agencies that we know well and trust. We have advised clients on global restructuring programmes in many countries, run internal change programmes spanning continents and executed international media programmes.
The collaboration within the PROI has never been stronger. As global businesses and citizens, sensitive to trading in Europe and the world, dealing with the consequences of the Brexit vote, our ability to support our clients, operating and doing business within the UK and the world, has never been more crucial.
If you’re interested in finding out more about our international work or you would like to discuss a specific cross border or international communications need, then please get in touch with me or the Lansons international team at: firstname.lastname@example.org
Anna Schirmer, Director and Partner, email@example.com, https://uk.linkedin.com/in/annaschirmer
- Founded in 1970
- World’s largest Partnership of Independent Integrated Communications Agencies
- US$ 700+ million annual fees
- 5,000+ staff : 6,300+ clients
An international group of specialist financial communications experts
Making the Leap into PR
We recently hosted Malkesh Agheda who came to us through Making the Leap, a social mobility charity.
Making the Leap
Last year we began working with charity Making the Leap, a social mobility charity that aims to raise opportunities and aspirations for young people aged 11 to 25. Part of what they do is help young people from disadvantaged backgrounds find work experience and employment by developing their skills, behaviours and attitudes to succeed in a career of their choosing.
We recently hosted Malkesh Agheda who came to us through Making the Leap. He has written this feature on why he chose to experience working at Lansons and how Making the Leap has helped him in his career journey so far.
I studied Physics because I had a passion to apply science at a more human level to help people progress. It was during my degree I developed interpersonal skills, and through the course itself became an information guide for prospective students. This made me curious, and ask myself - how could I make use of these skills in the future?
Many of the people who inspired me are strong characters who have had a massive impact on those around them. These included not just the physicists I learnt about during my studies, but also people like my tutor who was very philosophical and quirky.
I realised that these people were not only finding solutions through science, but were selling an idea. I discovered that a physicist may have the right formula to solve a problem but they had to convince others that they had the answer. I found myself promoting not only the course and the university, but physics too.
I would never have considered PR as a career before I did my Physics degree. It has expanded my mind beyond my analytical and technical skills and taught me how to present myself and build relationships with others.
I considered a role in finance, but this too involved persuasion and strategic thinking. A friend of mine recommended Making the Leap (MTL), which has connections into the finance industry. Initially I thought MTL would provide basic information on looking for a job. I believe it never hurts to review the basics, so I signed up.
This was one of the best decisions I have ever made, as I discovered that the workshops and advice Making the Leap provided were very advanced in helping people find a career. Making the Leap explained and helped me to understand that one of the most important skills you can develop are soft skills. This was something I had practiced in life, but not to its full potential. Only during the workshop was I able to fully appreciate the skills I had developed.
The course covered so many aspects of the career search that I became confident in the whole application process, from looking smart for an interview, right through to adapting to a professional environment.
The workshops were disciplined and hard work, but I persevered and continued with further professional training. The most crucial aspect was feedback and reflection following a job application. This gave me an understanding of the importance of presentation and first impressions. Making the Leap provides the best support for young people navigating the job market and equally companies would get the best candidates knowing they have been through their rigorous preparation process.
It was through Making the Leap, that I was introduced to Lansons. I had also been given the book ‘It’s Not How Good You Are, It’s How Good You Want To Be’ by Paul Arden. This book inspired and reassured me that my analytical and mathematical skills can be used alongside interpersonal skills to enhance my employability!
During the interview for Lansons I had a great discussion about the industry and how different parts of PR work together. If there is one thing about Lansons which I can take away, it is that they really adapt to your own interests. During my work experience I was given the warmest welcome and they were able to arrange meetings to satisfy my curiosity in how research and social media help to maintain PR for companies, as well conduct research of my own on Brexit and the opinions of CEO’s within the travel industry. Being able to have all my questions about PR answered from different parts of the business was my absolute favourite part of the week.
'I look forward to finding a career within this amazing #PR industry!' Read more on #workexperience @LansonsLatest
Working with the team at Lansons was a wonderful experience as they were always friendly, as individuals they are incredible and as team they are the best. I look forward to finding a career within this amazing industry!
If you would like to find out more about partnering with MTL, please get in touch with them on 020 8962 1900.
Every summer Lansons runs a work experience programme, which hosts 15 students, providing them with insight as to what it’s like to work at Lansons, but more broadly to work in the PR industry. During their time with us, each student attends a variety of sessions run by different people from around the business to gain a different perspective of each of our offerings and to understand the mechanics of a fully integrated communications consultancy.
Lansons: Let's Talk
Last month we hosted the first of our Lansons: Let’s Talk events – a series of meetups that brings together Lansons consultants and prolific bloggers.
Last month we hosted the first of our Lansons: Let’s Talk events – a series of meetups that brings together Lansons consultants and prolific bloggers. The inaugural event hosted twenty of the UK’s most influential personal finance commentators for an evening of lively discussion and networking.
The financial services industry has started its shift towards wanting more targeted content, opinion pieces and real life experiences, that’s why we started with bloggers from this sector. We believe blogs are the perfect medium to engage everyone in a topic that affects everyone.
For this edition of the newsletter we invited Bola Sol one of our attending bloggers to write a piece on investment tips for millennials.
Bola founded Refined Currency in 2015 and contributes regularly to the site. You can find out more about Bola here.
Whilst many millennials are making a professional name for themselves in the working world, it’s important to ask if investments are being made for the future. Saving income is a great place to start when it comes to monetary discipline however at interest rates between 1-3%, investing is a better way to get more for your money. The idea of investing may not initially sound appealing nevertheless gaining an understanding of your attitude towards risk and understanding the foundations of investing is a good place to start. Here are 3 investment tips to get you started.
When we are young, retirement is the last thing on a lot of our minds but planning our pensions should be a priority.
When given the opportunity to join a pension scheme sponsored by your employer, it’s usually best to opt in. In addition to a percentage of your pay being put into a pension scheme, your employer may also add money for you while benefiting from tax relief. While you may not see the benefits now, you'll be grateful in the future.
There is also the option of a self-invested personal pension (SIPP) that allows you to manage and choose your own investments. Whilst having control of your financial future is vital, it’s also important to know what you are doing and have a good knowledge of what you’re investing in. Furthermore, although there is also tax relief in a SIPP there are many costs to be taken into account such as set-up fees, management fees and exit fees. With great responsibility comes great power so choose the options that make you feel in control of your money.
'Whilst having control of your financial future is vital, it’s also important to know what you are doing and what you’re investing in.'
2. Buy-To-Let Investment
A lack of housing supply combined with an ageing and growing population has caused the demand for property in the UK to soar, providing great opportunities for those choosing to invest in property. Here are a few things to bear in mind if investing in property tickles your fancy:
- First time buyers cannot let a property that is owned on a residential mortgage. Buy-to-let (BTL) mortgages are for landlords who buy property specifically to rent. The crucial difference between a BTL mortgage and a residential mortgage is that the lender takes rent as the primary source of income, whereas residential mortgages the lender takes your salary.
- The minimum deposit for a BTL mortgage is usually 25% of the property’s value (some lenders may ask for a 20% deposit). Typically lenders will want prospective rental income, verified by independent sources. BTL lenders expect rental income from the let property to cover the mortgage repayments by at least 125% (many are moving to 140%)
Article from @bola_sol on #investment for #millenials in @lansonslatest Newsletter this month:
- Most BTL mortgages are interest-only, meaning you don’t pay anything off the lump sum borrowed each month. At the end of the mortgage term you have to repay the capital in full. Don't forget. Stamp Duty Land Tax is an extra 3% on top of the current rates for BTL residential properties above £40,000.
There's a lot more to BTL mortgages so please speak with a mortgage advisor and get updates from Property Cohort on Twitter, Facebook and Linkedin for more insights into the property market. Property Cohort is founded by a group of young professionals dedicated to sharing property, architecture, investment, interior design knowledge, news & inspiration
3. Get Good Advice
Obtaining financial advice is the best thing to do when you want your money to go further. Getting independent advice may be better as it is unbiased and does not give information on a limited range of products. When arranging meetings, the first thing to check is that the financial adviser is qualified to advise you along with them being registered with the FCA.
Getting good financial advice can be hard to come by. It’s always important to consider what the benefits are for them and what affects your investments will have on their commission payments. Nevertheless looking for cheap financial advice may not be optimal because valuable information could be missed if cost corners are cut.
When arranging meetings, the first thing to check is that the financial adviser is qualified to advise you along with them being registered with the FCA.
The best decision may be to shop around for good financial advice and many initial consultations are free which gives you a chance to choose the options that work best for you. The key is to walk into the situation knowing what your financial goals are and have a good understanding of what you are investing in.
Don’t shy away from taking notes and asking questions, after all the biggest investment you can make is in yourself.
This post was written by Bola Sol, founder of Refined Currency.
Global Innovation & New Technology Event
<b>Global Innovation &
New Technology Event</b>
London: 14-21 November, 2016
Amidst a turbulent healthcare landscape, not least resulting from the UK Brexit vote and its impact on the life sciences and technology sector in the UK and Europe, Lansons Health is ahead of the game and pleased to take a pioneering lead role in the GIANT (Global Innovation & New Technology) Health Event taking place in London from 16-19 November 2016.
Global changes in healthcare funding, the growing ageing demographic, exponential understanding of genetics, explosions in availability of health and digital data and new digital technologies are all converging to transform healthcare. Breakthrough innovation from within and outside traditional healthcare industries is needed to change business models to reshape the future for better health, outcomes and value for the consumer and the healthcare system overall.
This is not a ‘tech for tech’s’ sake event - this is an interdisciplinary, cross sector event that brings ideas, technologies and people together and curates innovations that will translate to help people live better lives. Combining a conference, trade show, and consumer fair, GIANT showcases leading technologies, accelerates innovation and enhances commercial success in a uniquely inspirational and creative environment, and is the most important and main event within #HealthTechWeek (London: 14-21 November, 2016).
GIANT is geared to support an emerging health industry that is more digital, nimble, responsive and focused on people. Via its channel Health Innovators TV, the event will spotlight innovators laying down new paths to a more connected, transparent, smart health ecosystem that will democratise health and deliver efficiencies in providing care, ultimately creating better health for more people.
In addition to world expert speakers and product demos from leading pharma, life sciences, biotech, telecoms, digital, and healthcare companies, GIANT will also include health-tech innovations from the aerospace, retail, fintech, sports equipment and cosmetics industries.
'Consumer expectations of healthcare are changing because of day-to-day experiences in areas like retail, banking & entertainment'
From pioneering developments in diagnostics and therapies, through to fashion health tech - we will look at everything that has the potential to transform people’s health and people’s lives:
Precision medicine and personalised care
The science of gene and cell therapy has emerged rapidly as scientists have figured out ways to genetically modify a patient's cells, programming them to regenerate certain tissues, inhibit growth, or attack diseases like cancer. This precise, personalized approach to medicine is revolutionizing healthcare and profoundly impacting the search and development for new drugs, involving patients as partners in clinical research and focussing on the value the medicine will deliver to improve people’s lives.
Connected health ecosystem
New databases and database tools will allow industry players to analyse data from many sources in novel ways, unleashing insights from information being collected about health consumers. Employers and healthcare organisations are seeing behavioural healthcare as key to keeping costs down, productivity up and consumers healthy.
Shifting care to communities will be driven through technological and social innovation. Care will be driven through mobile devices, providing care anywhere, anytime. As payment shifts to value-based models, health systems will pursue lower-cost settings more aggressively than before while employing creative approaches to distributing care.
Big data to smart data
With rapid developments in artificial intelligence, machine learning and quantum computing, we are entering the next phase of data, from big data to smart data. Social, mobile, analytic and cloud based technologies holds great potential to help healthcare organisations reduce costs, streamline inefficiencies, improve quality, and demonstrate value. Both private cloud computing infrastructures and public ones have made it possible for a revolution to occur in every aspect of healthcare IT, from electronic patient records, to remote diagnostics, to online appointment bookings.
Particularly in chronic health conditions like diabetes, obesity, COPD and ageing related decline, innovations in remote sensors, connected care, robotics and Internet of Things (IoT) will help to improve quality of life by nurturing mobility, promoting exercise, and sustaining independent living in smart homes.
Health democratisation and people powered health
Digital technologies provide the means by which patients and the public are empowered to take charge over their health. The rise of consumer empowerment or “people powered health’ is a force that must also be embraced. In the words of Dr Daniel Kraft, founder of Exponential Medicine, “the new drug is the empowered patient”.
Consumer expectations of healthcare services are changing because of their day-to-day experiences in areas such as retail, banking and entertainment.
New health ecosystem participants are entering to cater to changing patient expectations. Wearable health monitors, mobile wellness apps, device companies, telecom companies, and more. Pharma needs to adapt and look to add value to their existing medicines, being quick to spot opportunities and harness the new technologies to deliver better outcomes for the health consumer, and seeing themselves as solutions providers and not just drug developers and sellers.
As consumers realise the boundless potential of the value of their own health information to improve their lives, there is no limit to the innovations that will emerge from this growing awareness and power. We are already seeing start-ups vying for space in the creation of health banks and personal data marketplaces. And we are also seeing the rapid rise of consumer-driven health, from nutrition tech to wearable fashion that monitors health.
We are seeing the rapid rise of consumer-driven health from nutrition tech to wearable fashion that monitors health.
In a rapidly changing environment, the GIANT Health Event will help you learn about new initiatives, access the market early, and partner with the latest technology and healthcare providers:
- Hear how genomics and precision medicine will power personalised health and smart diagnostics.
- Understand how open source development platforms like AppleResearch Kit and CareKit are opening the door to increased consumer participation in research.
- Moving beyond Big Data to Smart Data, learn how quantum computing can extract information from data and create intelligence from it too, increasing the utility of wearables in personalising health to consumer’s exact needs.
- Engage with leaders in digital health to develop effective “pill plus” solutions, drawing on human centred design and behavioural techniques to drive up patient outcomes and create better health, and better lives, for people.
- Understand the opportunities from the convergence of social, mobile, analytic and cloud technologies to drive efficiencies and optimise health.
- Create partnerships with new entrants and disrupters that will change care delivery models, democratise medical education and enhance citizen participation in health prevention.
- Understand how social and technological innovation is driving community initiatives to tackle the social determinants of health.
- Get inspired by the latest developments and ideas from outside health, including aerospace, sport, financial and entertainment industries, that are using technology to deliver better customer value and experience.
- Learn about the latest development in telemedicine, home monitoring and smart technologies in IoT and smart homes that will help improve the lives of people with chronic long term conditions and ageing-related physical and cognitive decline.
- Understand innovations in retail healthcare, mHealth and mobile payment technology and microinsurance to deliver better care to more people.
We hope you can attend! Please contact Tina Woods, Head of Lansons Health, on Tinaw@lansons.com
If you are interested in attending or getting actively involved. We have vacancies for speakers, sponsors, exhibitors and media partners, and exciting participation programmes for med students and junior doctors.
Check out the GIANT health event that looks at innovation to transform people’s health – supported by @LansonsLatest
What is Healthinnovators.tv?
The platform for healthcare pioneers, entrepreuners and visionaries
What is Healthinnovators.tv?
Healthinnovators.tv is an online TV channel that provides a platform to healthcare pioneers, entrepreneurs and visionaries to communicate the latest updates in heath innovation and people powered health.
Produced and managed by Lansons content team, Healthinnovators.tv will speak to the general public as well as those in the healthcare space. The channel has a number of different playlists for all interests to empower and engage the community in both the challenges and solutions for improving health.
- Innovation Live: a news style series that captures highlights from specific health events, speakers and entrepreneurs.
- Global View: views from Silicon Valley and abroad on how innovations can translate and resonate within the UK and European marketplace.
- Beat from the Street: interviews with movers and shakers in grassroots innovation.
- Citizen’s Corner: views from engaged consumers from our Citizen Health initiatives on people powered health.
- Podcasts: an audio series where you can hear leaders debate and discuss hot topics- artificial intelligence, microbiome research, robotics, genomics, new wearables, consumables- whatever is new! Hear our podcast on the future of healthcare here.
- Partners: we already have some amazing partners on board to support Healthinnovators.tv. We work closely with our partners to create a platform for their specific campaigns or projects; this also allows for branding opportunities across the site as well as video and podcast creation. You can find out more about them here.
If you are interested in sponsorship opportunities or to partner with Healthinnovators.tv please contact HITV@lansons.com.
Healthinnovators.tv also showcases Lansons new service, the Lansons video platform. The video platform enables us to store, host and publish videos much like Vimeo or YouTube would but with more control over ownership, customisation and distribution. It also allows more access than YouTube or Vimeo that can be blocked by company firewall settings. We can create customised video players and dedicated channels like Healthinnovators.tv, all compatible with desktop and mobile devices.
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