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Tax

Kimberley Rowan highlights the key elements of Finance Bill 2019.  Most of the measures contained in Finance Bill 2019 (the Bill) were expected. It consisted mainly of legislative provisions for the tax changes announced by the Minister for Finance as part of Budget 2020. But some measures were not expected. The change to the general rule on tax deduction for any taxes on income, for example, was not expected by most tax practitioners. A handful of other measures contained in the Bill were also surprising. In this article, I will explore the unexpected measures and provide an overview of the key anticipated measures, focusing on those that affect the domestic taxpayer. Peter Vales write about the key Finance Bill measures for international businesses in his article on page 68. Tax-deductible expenditure The Finance Bill includes two changes to the general rules applying to tax-deductible expenditure. First, a tax deduction is not available for “any taxes on income”. This matter has been before the Tax Appeals Commission in a number of cases and now puts Revenue’s view on a legislative footing. This will be relevant in the context of Irish companies that suffer foreign withholding tax on their business profits. The second amendment aligns the tax deduction for doubtful debts with impairment losses under the relevant accounting standards. KEEP The Bill confirms the welcome enhancements to the Key Employee Engagement Programme, as announced on Budget Day. However, new complex conditions seem likely to limit the practical application of the enhancements. For example, the definition of a qualifying group includes only a qualifying holding company, its qualifying subsidiary/subsidiaries and its relevant subsidiary/subsidiaries. The qualifying group (excluding the holding company) must be wholly or mainly carrying on a qualifying trade, must have at least one qualifying subsidiary and all the companies in the group must be unquoted. It seems that the definition does not extend to scenarios where the parent company in a group is a trading company with multiple subsidiaries or where a holding company holds cash or undertakes certain activities. Income tax payments The Bill introduces exemptions for certain income tax payments. The exemptions introduced cover: The reimbursement of expenses by the HSE to an individual for the donation of a kidney for transplantation (under conditions defined by the Minister for Health); Certain foster care-related payments made by TUSLA; Certain training allowances paid by, or on behalf of, the Minister for Education and Skills; and Certain student support payments awarded by SUSI, education and training boards, or local authorities. The Bill also introduces an amendment to clarify the availability of the income tax exemption on a range of payments made by the Minister for Employment and Social Protection, including payments made under the Magdalen Laundry ex-gratia scheme. The amendment is to clarify that a qualifying person for the relief must, in all circumstances, have received a payment under the Magdalen Restorative Justice Ex-Gratia Scheme. Food supplements  The change in the VAT treatment of food supplements was widely expected. The Bill introduces a provision that, with effect from 1 January 2020, food supplements will be subject to VAT at 13.5%. A concessionary zero rating had applied to these products. The change from zero to 13.5% VAT rate follows a comprehensive review by Revenue of the VAT treatment of food supplements, engagement with the Department of Finance in 2018 concerning policy options, the publication of Revenue guidance in December 2018 and a public consultation in May of this year. Revenue will not, as previously announced, apply a 23% VAT rate to these products. There was no change to the rate in last year’s Finance Bill, but Revenue did issue guidance in December 2018 which removed the concessionary zero-rating of various food supplement products with effect from 1 March 2019. However, the withdrawal of Revenue’s concessionary zero-rating of food supplement products was delayed until 1 November 2019 to allow time for the Department of Finance’s public consultation on the taxation of food supplement products in summer 2019. The zero rate continues until 31 December 2019. From 1 January 2020, the 13.5% rate will apply. The change introduced in Finance Bill 2019 will not impact certain products. These are: Well-established and defined categories of food that are essential for vulnerable groups of the population such as infant formula, baby food, food for special medical purposes and total diet replacement for weight control; Human oral medicines that are licensed or authorised by the HPRA are zero-rated for VAT purposes under a different provision. This includes certain folic acid and other vitamin and mineral products for oral use. Once such products are licensed/authorised by the HPRA as medicines, they are zero-rated for VAT purposes; and Fortified foods (i.e. foods enriched with vitamins and/or minerals). Dwelling house exemption  An exemption from Capital Acquisitions Tax may be available in respect of inheritances of certain dwelling houses. One of the conditions to avail of the dwelling house exemption is that the person receiving the inheritance doesn’t have a beneficial interest in any other residential property at the date of the inheritance. Any dwelling house that is subject to a discretionary trust where the taxpayer is the settlor and a potential beneficiary must also be considered. The Bill amends the exemption following the High Court decision in the Deane case in 2018. The conditions of the relief are amended such that all properties inherited from the same estate are to be considered. A clawback is provided for where a beneficiary subsequently inherits an interest in any other dwelling house from the same disponer. R&D tax credit The Bill details the measures announced as part of Budget 2020 while also introducing several new measures. A summary of the key legislative amendments is as follows: Grants funded by any state and/or by the European Union must be deducted when calculating the amount of qualifying research and development (R&D) expenditure; A company that outsources to third parties must now notify in advance of, or on the day of, payment if that company intends to claim the R&D tax credit. Revenue has said that the purpose of this amendment is to ensure that the sub-contractors do not receive such notifications after their R&D claims have been filed. How this notification by the company will work in practice needs further consideration and guidance from Revenue; The application of a penalty for an over-claim of the R&D tax credit has been aligned with the procedure for over-claims of other credits; Where a payable amount or amount surrendered to a key employee is later withdrawn, any offset of losses or credits cannot be used to shelter the clawback on this amount; and Amendment to capital expenditure on scientific research to ensure that relief for capital expenditure on buildings or structures cannot be claimed in respect of the same expenditure. Pension deduction The Bill provides for tax relief for pension contributions made by a company to occupational pension schemes set up for employees of another company in certain defined circumstances. This amendment is to accommodate cases of a merger, division, joint venture, reconstruction or amalgamation where an issue could arise as to whether contributions are being made in respect of an employer’s employees. Specific conditions apply. A few words on the expected The Bill confirms the Minister’s announcement as part of Budget 2020 that there will be no significant income tax cuts for 2020. The Bill provides the legislation for the tax measures announced in Budget 2020 and the ones worth noting are: Extension of both the Special Assignee Relief Programme and Foreign Earnings Deduction to 31 December 2022; Enhancement of the operation of the Employment and Investment Incentive (EII), although a few technical points were not expected; Minor increases in the Home Carers Credit and the Earned Income Credit (up €100 and €150 respectively); The reduced Universal Social Charge (USC) rate for medical cardholders is extended; Extension of the 0% benefit-in-kind (BIK) rate on electric vehicles; Changes to the overall BIK treatment of employer-provided cars (not vans) from 2023; Capital Acquisitions Tax threshold increase from €320,000 to €335,000. The Bill confirms that the increase applies to gifts or inheritances taken from 9 October 2019; Increase in the rate of Dividend Withholding Tax from 20% to 25% with effect from 1 January 2020. Additional information gathering requirements are proposed at Committee Stage on the ultimate payer of a dividend before the payment of a dividend; Increase in the rate of stamp duty on non-residential property from 6% to 7.5% with effect from 9 October 2019; The ‘Help to Buy’ scheme and the living city centre initiative are extended for a further two years; and The R&D tax credit rate for small and micro companies has been increased from 25% to 30%. What’s next? The Bill is scheduled to move to Report Stage at the end of November and after that, as is the customary legislative process, to the Seanad. Under the requirements of the European Union’s two-pack budgetary schedule, a common budgetary timeline applies to all EU member states. As a result, the Bill will complete passage through the Oireachtas and be enacted as Finance Act 2019 by 31 December. More unexpected measures are unlikely at this stage of the Finance Act process. As this is likely to be the last Finance Act before Brexit, and the last before a general election in the Republic of Ireland, any legislative changes to the tax legislation will have to wait until the new government is formed and the next Finance Act.   Kimberley Rowan ACA AITI Chartered Tax Advisor, is a Tax Manager at Chartered Accountants Ireland.

Dec 05, 2019
News

While it’s easy to see that climate-related corporate reporting is important, companies are finding it difficult to know where to begin. Hannah Armitage outlines the suggestions made by the FRC Financial Reporting Lab. Understanding of climate change has grown in recent years and society, business, government and regulators are responding. It has become clear that investors, companies and accountants are seen as part of the solution. In response, the Financial Reporting Council’s Financial Reporting Lab (the Lab) has recently released a report, Climate-related corporate reporting: where to next?, looking at the developing practice of climate-related corporate reporting. This project sought to understand the challenges companies face in reporting on climate change, and what investors want to understand from company reporting. This project received an unprecedented amount of investor involvement, and those investors saw climate change as being material to a wide range of businesses and want reporting to reflect this. Reporting on climate change? Reporting itself can’t solve climate change, but it plays a key role in providing information to investors and other stakeholders. Unfortunately, companies grapple with how best to report on climate-related issues. To help companies, the Lab’s report sets out what investors expect from reporting on climate change and assesses what best practice reporting looks like from an investor’s viewpoint. The Lab found that reporting in this area is a developing practice. Investor expectations are high and there is a need for company reporting to develop further to meet their needs. To help fill this gap, the Lab’s report outlines what investors seek to see articulated by companies and what companies should try to answer for themselves: How boards consider and assess the topic of climate change; Whether, and how, the business model may be affected by climate change, whether it remains sustainable, and how the company may respond to the challenge posed by climate change; What the opportunities and risks are, including the prioritisation of risks and their likelihood and impact; What strategic changes the company might need to make to capitalise on a changing climate and related opportunities; What scenarios might affect the company’s sustainability and viability, and how; and How the company measures the impact of climate-related challenges and the success of its strategy through reliable, transparent metrics and financially-relevant information. While many of these disclosures may be more on the narrative end of reporting, companies will also face financial statement impacts. Auditors have an important role to play. The IASB recently issued a useful briefing paper on IFRS Standards and climate-related disclosures.  This sets out how existing accounting standards address issues that relate to climate-change risks and other emerging risks. The Lab’s report also provides more detail on participants’ views and a range of examples of the developing reporting. Both companies and investors are building experience, capability and tools, but there is not a lot of time. The Lab’s report aims to help move this reporting practice forward. Hannah Armitage is a Project Manager in the Financial Reporting Council’s Financial Reporting Lab.

Dec 05, 2019
News

Economic indicators suggest a global recession is unlikely. However, Charles Hepworth believes there is one country that might be moving closer to recession territory. With Brexit looming and all its attendant uncertainty, a declining domestic GDP and large-scale layoffs which have contributed to the general public’s concern over the state of the British economy, the UK could be close to entering a technical recession. A recession is traditionally defined as the economy contracting for at least two consecutive quarters. Considering a full business cycle is approximately 4.7 years and that the last global recession ended in 2009, it could be argued one is overdue. Fears in the UK have been further magnified by the fact domestic GDP growth was negative in the second quarter of 2019, making Q2 the first contraction since the fourth quarter of 2012. Based on the technical definition, the UK would have been one bad quarter away from a full-blown recession if Q3 didn't see GDP growth of 0.3%. We can look to the floundering services industry as a key indicator of the current economic state. The sector makes up about 80% of the UK economy and, in August, it stalled uncharacteristically. Given the current political environment, it seems corporates are unwilling to make significant investment decisions given the lack of clarity around Brexit and the potential for restrictions on imports and exports. The overall uncertainty surrounding Brexit and the UK’s relationship with Europe has also contributed to falls in domestic construction and manufacturing sectors. Globally, central banks are treading a fine line of avoiding investor panic, in my view. The US economy remains strong, even as key European economies are in contractionary phases. We have seen stimulus packages in the US and across Europe, as both the Federal Reserve and the European Central Bank utilise quantitative easing to aid their respective economies. In the case of the US, GDP growth has remained strong, up 2.1% in the second quarter of this year and 1.9% in Q3. The consumer price index, often used as a recession indicator, showed a 1.8% core increase in the 12 months through October. Based on these numbers, we do not anticipate the US will enter a recession any time in the near future and that while certain markets might arguably have recessionary attributes, a global recession is unlikely, as well. Alongside the generally optimistic data, I feel investor sentiment is broadly positive outside of the UK. A resolution of the US-China trade war could provide some additional relief and rally the markets, particularly in regard to the US’s briefly inverted yield curve. Although, historically, an inverted yield curve has often served as the harbinger of a recession, this time around it is being somewhat contradicted by record high employment rates in the US and Europe (the UK included). Furthermore, an inverted yield curve tends to precede a recession by anywhere from 14 to 36 months, making an imminent economic fall unlikely. The international climate is ambiguous, but I believe that the UK is the primary economy at immediate risk of entering a recession. The world’s largest economies (US, China and Japan) have remained strong so far but the UK, on the other hand, has the particular issue of the Brexit paralysis. Consumers have become more risk averse, while businesses are reluctant to invest heavily when surrounded by such ambiguity lack of clarity over the outcome. Charles Hepworth is the Investment Director, Managed Portfolios at GAM. This article was originally published in The FM Report.

Dec 05, 2019
News

Recruiting and HR in Ireland are continually evolving, but with a new decade just around the corner, change is in the air more than ever before as companies strive to provide a more fulfilling workspace for employees. Orla Doyle explains. Ireland is continuing to build its reputation abroad as a place to work or live. With the unemployment rate dipping to under 5% for the first time since the Irish financial crisis in 2008, Ireland’s labour market is now essentially at full employment – simply speaking, there is a job available for anybody that is seeking one. At the heart of this change is Ireland’s ongoing expansion in a thriving labour market, with 425,000 new jobs created since 2012, and 38,000 in 2019 alone. New research from Lincoln Recruitment specialist’s A New Decade of Work Salary and Employment Insights Survey in association with Alan Ahearne, Professor of Economics & Director of the Whitaker Institute at NUIG, brings together the thoughts of over 1,400 employers and professionals across Ireland and presents a broad insight into the latest employment trends we will see next year. Here are some of the trends we expect to see in 2020. Employers brace for a potential recession We may currently be in the midst of an extended period of economic growth, but as the saying goes, what goes up must come down. Indeed, there have been several different warning signs than a recession may be around the corner. Despite steady economic growth and commercial optimism, the labour market remains troubled by uncertainty on the Brexit front. Nearly two thirds (61%) expect Brexit to have a negative impact on investment in the Irish market in 2020. Furthermore, nearly a third of those surveyed (30%) believe a post-Brexit outlook will be negative for Ireland when it comes to employment. Some companies have even paused recruitment or recruited fewer staff (12%) over the past year as a direct result of Brexit. And so, today’s most forward-thinking companies have already begun to develop recession-proof hiring strategies. Many employers assume that hiring will become easier in a recession – but while candidate pools are typically bigger during an economic slowdown, many companies find themselves overwhelmed by an influx of low-quality applications. As a result, companies will likely have to identify which recruiting channels deliver the highest quality candidates and double down on investment in these hiring channels. Employees quick to leave if passed over for promotion We can see from our survey that many employees seek fast-track promotions, with 36% of employees expecting one within two to three years of being in a new job. While professionals are slow to ask for a promotion, if they were passed over for one, they are quick to exit, with 40% stating they would start a job hunt, either immediately or as a passive job seeker. This indicates a need for employers to produce competitive career advancement plans if they are to attract talent and retain staff. Employees seek progression While the focus for many employers in a skills-short market is on attraction, employers must not lose sight of retention of current staff. In general, apart from focusing on salary, employees seek recognition for a job well done, and one of the most visible forms of recognition is a promotion. Unfortunately, according to the survey, many organisations are not doing an adequate job of creating clear advancement opportunities for professionals. Nearly two thirds (62%) of respondents who did not get a promotion within the last 12 months cited “a bottleneck”, “nowhere to go”, or “unwillingness by a company to offer one” as the main reason. To retain talent, organisational leaders must set expectations of constant learning, and this means career plans at all levels so that employees see a path for broadening, deepening, or advancement. Flexibility The drive to embrace flexibility, both to compete in the market using flexible talent and as a means of engaging employees by offering flexible working options, continues to increase. Getting the best out of workers requires some understanding of what motivates them, and puts them in the best positions to succeed. From our data, we can see flexible working continues to top the list as the most important benefit for employees seeking a new role (70%), up from 60% last year. Aside from their salary, it’s the next most import factor that engages professionals personally with over half of employees (54%) stating that this was of the highest importance to them, even ahead of career progression (41%). Orla Doyle is the Group Marketing Manager in Lincoln Recruitment.

Dec 05, 2019
Ethics and Governance

Boards increasingly need to show how they measure their organisation’s culture, but the key information is likely already available within the business, writes Ros O’Shea. The South Sea Islanders have a word, “mokita”, which translates as “the truth that everyone knows, but nobody speaks”. Other notable definitions of culture include “a system of beliefs, shared values and behavioural norms”, “the way to do things around here” or even the “mood music” or “resting heart-rate” of an organisation. Whatever the definition, stakeholders, still shaken by a litany of corporate scandals including endemic ethical failures in financial markets, now recognise that, as Peter Drucker said, culture does indeed eat strategy for breakfast – and arguably for lunch and dinner too. Their demands have led to concerted efforts in recent years to rebuild trust and restore integrity to the heart of the enterprise. Figure 1 highlights some of these welcome developments, which go way beyond extending the rule book or adopting a tick-the-box approach to compliance. It seems everyone has seemingly landed on the same page, which says: you can have all the rules in the world but there is no substitute for character. Much has been written already about how to cultivate character and foster a values-based culture. Indeed, Chartered Accountants Ireland published my book on the topic, Leading with Integrity, in 2016 and has issued several related guides and research papers since. As organisations seek to embed cultural change, the question everyone is now grappling with is: how do you measure it? How can those charged with governance determine if the tone from the top is being cascaded through the ‘muddle in the middle’ and reflected via the ‘echo from the bottom’? Is it possible, with any degree of accuracy, to properly calibrate an organisation’s mood music or gauge its steady-state operating rhythm?  The answer is yes. My ‘5 Organisational Culture Caps’ (5OCC) approach aims to do just that. Loosely based on Edward de Bono’s ‘Six Thinking Hats’ system (where coloured hats represent different modes of thinking), with 5OCC, each cap is assigned to one of five different stakeholders. By donning each cap in turn and thinking about culture from each of these perspectives, a holistic view is developed of how your espoused values align with how your organisation behaves towards these key constituencies in practice. Four caps are pre-assigned – your customers, staff, shareholders and community all deserve their own headgear. You get to pick who wears the last cap, and your choice is likely to be heavily influenced by the sector in which you operate. For example, financial services firms may well pick the regulator; key vendors may be a valid choice for those downstream in the supply chain; whereas for other organisations, agents or brokers, or other business partners on whom they rely to deliver products or services, may get to wear a cap. Once you determine the full suite of stakeholders, the next step is to select key metrics that best capture their unique expectations of your organisation’s culture. Let’s don each cap in turn. The customer Arguably the single best way to actively test the consistency of stated values with the customer experience to attempt to buy the product or the service. Or you could try to make a complaint and follow what happens. Other key cultural indicators from the customer perspective include: Customer surveys; Net promoter scores; Complaints statistics; Feedback from customer focus groups; Social media and press coverage; Litigation and claims; and Awards and ratings. The staff Here, staff is defined in its broadest sense (i.e. from the boardroom to front-line employees). Again, boards should recognise that only so much governing can be done within the confines of the boardroom, and one of the most effective means of assessing the organisation’s tempo and temperament is to get out and about and engage with staff at all levels. Ideally, this should be done in informal ways and settings (such as townhalls or listening lunches, for example) so that site visits don’t become ‘state visits’. The HR department will be a deep reservoir of information to help you understand and monitor the extent to which values are truly lived across the organisation. There are many possible metrics under this heading, some of which are set out below: Staff surveys, engagement indices and culture audits; 360 reviews of senior management and board evaluation surveys; Remuneration and incentive policies; Ethics training and communication strategies, and their effectiveness; Statistics on staff turnover, absenteeism, safety and disciplinary actions; Whistleblowing and grievance reports, and relationships with unions; Diversity and inclusion data; Recruitment processes, succession plans and promotion decisions; Integrity awards or similar; and Online employee feedback (e.g. via Glassdoor and exit interview notes). The shareholder The nature and extent of shareholder engagement will very much depend on the type of organisation, and metrics will need to be calibrated accordingly. For private, charitable or state-owned firms, it may be a relatively straightforward process to monitor the strength and success of the relationship with the organisation’s owners, trustees or relevant government department – most likely by being party to regular discussions. Some of the following metrics may also be relevant and will certainly be pertinent for companies with a larger and more dispersed share register: Governance structures and board performance; Correspondence and engagement with key shareholders; The AGM experience; Internal and external audit reports; Independence and competence of risk, compliance, audit and legal personnel; Investor or analyst reports; Industry benchmarks; and Transparency and disclosures of financial and other reports. The community Here again the relevant community may be local or global, or somewhere in between, and metrics will need to be commensurate with the organisation’s scale and footprint. Particulars will differ but overall, they will aim to measure the extent to which the business is contributing to – and valued by – the communities in which it does business. Specific metrics are more elusive under this heading, but assessment of culture wearing a community cap will include discussions around: CSR activity in the community; In-house ‘green’ initiatives; CSR ratings and ESG credentials; Sustainability reporting; Progress towards committed UN Sustainable Development goals; Carbon footprint, water use and waste; and Local press coverage. A.N. Other As outlined earlier, you get to pick who wears the fifth cap. If, for example, suppliers are an important stakeholder group for you, measures such as promptness of payment, supplier audits and feedback from key vendors would be important to consider. If the regulator is to wear the cap, relevant areas of focus could include the number of fines, regulatory breaches, risk appetite exceptions, inspection reports and the general tone of correspondence. Metrics can also be devised for any other stakeholders by considering what aspects of your culture are likely to matter most to them. Such metrics may best be ascertained by directly canvassing their opinions. The most helpful aspect of the 5OCC approach is its practicality. Most, if not all, of the information required for the various measures will already exist in your organisation. It is simply a matter of collating and synthesising these valuable, but currently disparate, sources of data to provide a five-way mirror back to the organisation showing how the espoused values are truly living and breathing. There is no doubt that what gets measured gets done. Metrics matter. Boards and directors will increasingly need to prove and publish how they measure and monitor their organisation’s culture and I hope this model is a helpful aide in that endeavour. But again, we must remember that there is no substitute for character. All the KPIs in the world won’t displace the board’s most important role, which is to ensure they have the right leadership team who will do the right things for the right reasons. You can’t cap that.   Ros O’Shea FCA is an independent director and governance consultant.

Dec 03, 2019
Careers

Dr Annette Clancy explains why the granting or withholding of control over employees’ working conditions has a knock-on effect on their physical and mental wellbeing. Do you go to work in an office? Or, perhaps you sit behind a desk in a large space divided up into cubicles. Do you have a large desk or a small one? Is there a window in your office? Or, perhaps an air conditioning unit? Do you display photographs of your family or does management supply posters with pithy quotes such as “the only way to guarantee failure is to never try”? You might wonder why these questions matter, but in recent years psychologists have become interested in why some office  designs make workers happy and others do not. Organisational psychologists are increasingly interested in how work environments affect performance. Research suggests that the size of our desks, how we decorate our workspace and the amount of privacy we have or, if we have a desk at all, contribute to contentment, comfort and productivity. Office optimisation Office design is not a new concept. In the early 20th century, an American engineer named Frederick Taylor conducted a study of efficiency at the Bethlehem Iron and Steel Company. His published study, The Principles of Scientific Management, has become so influential in management studies that it is still widely practised and cited today. He invented the concepts of piece rates, assembly lines and time and motion studies. He was also a proponent of optimising workplaces for efficiency – extraneous equipment, people and furniture had to be moved out of the manufacturing or work area in order to achieve maximum productivity. These principles have been adopted for today’s work environment, in which large spaces can be quickly reorganised by partitions into cubicles or dispensed with completely through hot-desk systems. In 2010, two researchers at the University of Exeter – Alex Haslam and Craig Knight – became interested in office design. They focused specifically on cubicles, investigating how much freedom workers had to design their own spaces and whether the look of the cubicle influenced the work that got done. To conduct the research, they designed four different layouts and asked people to do an hour’s worth of work in each. The layouts were as follows: The first was the ‘lean’ office – a spartan space with a bare desk, swivel chair, pencil and paper; The second was ‘enriched’, which had all of the basics and was decorated with plants and art; The third was ‘empowered’, in which people could rearrange the plants and art any way they wished; and The fourth was ‘disempowered’, in which the respondents were allowed to decorate, and then researchers undid all the personal touches. Office customisation The findings from the research are interesting. A pleasant work environment is important, but on its own it is not enough. People in the ‘enriched’ office worked about 15% faster than those in the ‘lean’ office. Productivity and wellbeing increased by about 30% in the workspaces that people customised themselves. When people’s choices were overridden (in the disempowered office), their performance and wellbeing dropped to the same levels as those in the lean office. The findings from the study show that autonomy to customise the work environment is even more important than the physical environment itself. The bigger issue highlighted in the study is one of control. Granting or withholding control over employees’ working conditions has a knock-on effect on the physical and mental wellbeing of employees. Whether it is shared offices, cubicles or hot-desking, what appears to be a simple exercise in space-saving or cost reduction may also result in productivity issues if not considered collaboratively with employees. Dr Annette Clancy is Assistant Professor at UCD School of Art, History and Cultural Policy. Annette’s research focuses on emotions in organisations.

Dec 03, 2019