Tag: investment

52% of all employment is done by key workers

A new report by the International Labour Organization (ILO) has called for countries to improve the working conditions and earnings of key workers who were essential during the COVID-19 crisis. The report, World Employment and Social Outlook 2023: The value of essential work, highlights the extent to which economies and societies depend on key workers, yet they are undervalued.

Key workers can be found in eight main occupational groups and in the 90 countries where data was available, 52% of all employment is done by key workers. However, on average, key workers earn 26% less than other employees, with 29% of them being low paid. The report recommends greater investment in physical infrastructure, productive capacity, and human resources of key sectors, among other recommendations, to ensure the continuity of essential services during future pandemics or other shocks.

Gilbert F. Houngbo, ILO Director-General commented: “Healthcare workers, supermarket cashiers, delivery workers, postal workers, seafarers, cleaners, and others supplying food and necessities continued to perform their jobs, day in and day out, even at the height of the pandemic, often at great personal risk. Valuing key workers means ensuring that they receive adequate pay and work in good conditions. Decent work is an objective for all workers but it is particularly critical for key workers, who provide vital necessities and services both in good times and bad.”

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Recent growth in 11 Investments has seen employee numbers double from 45 to 100

11 Investments, a group of boutique recruitment brands, has announced the appointment of David Forsdyke as Investment Director. David joins from PageGroup after 22 years, where he was most recently Managing Director for Michael Page across London and the South East.

11 Investments is a group of specialist recruitment brands,  established by Joe Curtis, Andy Sellers and Charlie Rawstron in 2014. Joe, Andy and Charlie began by founding 3Search, now the UK’s largest marketing and digital agency for the recruitment market. Following the success of 3Search, they began a series of investments in other, like-minded recruitment businesses via the formation of 11 Investments. At core off its business has been the focus on fostering a differentiated approach to sourcing the leading recruitment entrepreneurs to support and help scale their business growth. Recent growth has seen employee number double from 45 to 100 over the course of 2022.

David, alongside Joe, will be responsible for expediting growth of 11 Investments to support the group’s ambitious plans to grow headcount to 200 in 2024 and further build out the portfolio of investments.  Charlie and Andy will remain focussed on continuing to develop 3Search, retaining the enviable company culture and building strategic initiatives that will benefit the whole group, including: Diversity, equity and inclusion; learning and development; marketing and being a socially responsible business.

Joe Curtis, Director and Co-Founder, 11 Investments commented: “We’re really proud of what we’ve built with 3Search and the wider 11 Investment portfolio. Having invested in and scaled several recruitment businesses, we see significant opportunities in the market to grow our existing businesses further, and we’d like to increase the number of brands in our portfolio. That’s where David’s experience and pedigree with PageGroup comes in. He has first-hand experience of growing teams, managing large-scale recruitment P&Ls and adds second to none experience to our board. We’re thrilled he’s joined and can’t wait for him to get started.”

David Forsdyke, Investment Director, said, “I’ve always kept an eye on 3Search, having worked with the founders previously at Michael Page Marketing, and have respectfully admired what they have achieved from afar.  Having built an enjoyable and successful career at PageGroup of which I have huge gratitude and respect, I knew if I ever left it would have to be for something significantly different.  Whilst I had achieved a lot a Page and learnt from some of the very best in the business, the time felt right for a new challenge. When Joe told me of the vision for 11 Investments, I felt genuinely excited and wanted to help write this hugely exciting next chapter.  This is a business where everybody’s contribution to the groups’ success is so clear to see and the culture the team has built is something really quite special. I knew that I wanted to be part of that, and to try to re-create some of the magic we had working together several years ago! I think we have a powerful blend of skills and experience and can all learn a lot from each other.”

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A big headcount increase is planned for 2022

Arctic Shores, the psychometric assessment company, have announced that it has received £1.5m in venture debt funding from Silicon Valley Bank (SVB).

The raise is said to be used to support Arctic Shores’ aim of ‘changing the way the world sees potential’ in a time where 91% of employers are struggling to find talent amid the skills shortage. The investment will position Arctic Shores to enable employers see more in people that previous experience, with a platform that ‘is built to look beyond past experience, and uncover true potential at work.’

The funding will allow further growth and Arctic Shores is said to be increasing their headcount by a further 20 staff throughout the year.

Arctic Shores joins Wise, HelloFresh and GoCardless as the latest high-growth, tech-enabled organisations supported by SVB.

Robert Newry, CEO of Arctic Shores, commented: “The global skills shortage shows that it’s never been more vital to hire for potential. But, for employers, that requires one big step – scrapping the CV. It might feel like a tough ask. But unless we free ourselves from irrelevant and outdated experience, we’ll never unleash the vast potential of the untapped many, who have the quality but lack the experience. That’s why, with SVB’s support, we’re excited to show the world that it’s not only possible to see more in people, but, with our Talent Discovery Platform, simple and affordable too.”

Ben Tickler, Director of Venture & Growth at Silicon Valley Bank UK Branch, also made comment: “Arctic Shores is an exciting Manchester-based innovation company, and it has been great to be able to support them on their impressive journey of rapid growth. We look forward to a continued partnership with the team as they look to scale further.”

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