UK economy set to grow by 2.5 percent in 2015, report forecasts

The UK economy is on course to grow by an estimate 2.5 percent in 2015 and a further 2.4 percent in 2016, a new report from the National Institute of Economic and Social Research (NIESR) has been able to reveal.

Within this new report, the organization has forecast that unemployment will stabilise at about 5.25 while the CPI inflation rate will remains close to zero for most of the year, with future productivity growth remains the largest single uncertainty facing the UK economy.

NIESR said that “Faster than expected productivity growth would boost output, raise living standards and ease fiscal pressures; even slower than forecast productivity performance would make matters considerably worse. Employment growth continues to be strong; we expect unemployment to fall to about 5¼ per cent at the end of the year.”

Time and attendance systems can help bolster productivity

Tensor plc is a market leader in the time and attendance and employee management systems’ segment. We supply an extensive range of systems designed specifically to help HR departments record accurate data regarding the employee’s activity, their performance, as well as their attendance.

Our flagship WinTA.NET integrated time and attendance and workforce management solution incorporates a dedicated Absence Planning and Entitlement Management feature.

WinTA.NET is a web enabled, mobile / wireless technology based Time & Attendance system designed for those companies employing 20 people to 10,000+. The solution provides total control over the creation of working rules, Access Control, Job Costing and System Security and has specifically been designed for multiple companies, each managing multiple sites.

Our comprehensive, yet user-friendly software comes pre-loaded with graphical calendar charts that provide a colourful way of viewing an individual’s or a department’s absence records.

Each employee can be allocated different entitlements for absence such as annual leave or allowed sickness. As absence is booked and taken, the remainder available for each entitlement is updated. Entitlement formulae are used to calculate more complex entitlements calculated on a rising scale based upon length of service.

WinTA.NET supplies the relevant managers with information on employee’s absences through warning email notifications or via hardcopy reports. After that, the system would rapidly identify missing employees that are expected to be at work and then informs you via automatic email reporting reports distributed by email.

If you’d like to find out more about the Tensor workforce management solutions, just contact our team or Book a Demo, we’ll be more than happy to answer all of your questions and queries.