LIVE: The secret ingredient to happier hospitality - Nisha Katona MBE
We’re wrapping up Season 1 of the Invisible Worker podcast with a very special Live Episode, brought to you from the annual Financial Wellbeing Forum.From barrister to restaurateur, Nisha Katona MBE traded the courtroom for the kitchen and built Mowgli Street Food. But this isn't just another restaurant story. We delve into the secret ingredient behind Mowgli's success: a workforce that thrives. Discover how Nisha's past shaped Mowgli's unique culture and how she's flipping the script on what it means to work in hospitality. Could her methods be the key to a happier, more fulfilled working life for hospitality workforces?Show Notes: This episode is a little bit different since we recorded it live in front of an audience with the amazing Nisha Katona, founder and CEO of Mowgli Street Food. If you’re watching you’ll catch glimpses of the audience and a little bit of interaction. If you’re listening, you might miss one or two gestures (e.g. where Nisha talks about a pile of paperwork being ‘this big’ and shows with her hands) but you’ll still be able to follow the conversation with ease.If you’re curious about some of the stats we discussed, particularly about the hospitality sector, here are some great sources:UK Hospitality has loads of sector stats that I found super interestingI used the Resolution Foundation’s Economy 2030 report for all the info about how much hospitality we consume in the UK vs the rest of Europe AND for data on what features of a job people value more than a payrise. This report is worth reading.The CIPD is also an excellent source of sector information, and it was my go-to for churn dataIf you felt inspired by Nisha and now you want a job at Mowgli, here’s their careers page. If you’re an HR leader or running a business I also recommend reading up on the guiding principles from the Good Jobs Institute. It’s a US-based organisation, but the foundations they recommend hold up in any market.Finally, we’ve supported the Mowgli Trust for this episode. Check out the great work they do.Ps - If you want to be in the audience the next time we record a live episode, subscribe to the Finwell Forum Community. Hosted on Acast. See acast.com/privacy for more information.
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30:48
Adam Kay: Life inside the UK's largest employer
A huge thank you to my guest Adam Kay for coming on the show to talk about his experience being a junior doctor in the NHS. I highly recommend reading his breakout novel, This is Going to Hurt: Secret Diaries of a Junior Doctor. It paints a vivid picture of life on the frontline of the NHS.If you’re curious about some of the historical and financial information we discussed, here are some of the sources that I used to prep for this show:For the NHS origin story you can browse the national archives for a look back through the 1942 Beveridge report, which recommended the creation of the National Health Service.The King’s Fund data gives a nice snapshot of the NHS in numbers, and breaks down what you get for every £1bn.I also looked at the ONS Annual Survey of Hours and Earnings data and the NHS Agenda for Change pay rates to get some comparative earnings data and insight into how well the NHS pays as an employer. Hosted on Acast. See acast.com/privacy for more information.
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The behavioural science of money
Join our community to access bonus content, the full episode archive, and exclusive opportunities to get involved with the show.A huge thank you to my guest Owain Service for coming on the show to talk about the behavioural science of money and to unveil the new research we did together.Here are some of the links to topics we discussed on the show.Use the Institute of Fiscal Studies tool to check how your household income stacks up against the rest of the UK. I hope you finished the showing perhaps feeling richer than you started, but if you want to check it out to be sure this is a great tool.The Office of National Statistics (ONS) Annual Survey of Hours and Earnings is a great tool for understanding how pay is distributed. You can also get a snapshot, as I did, from looking at a single month of ONS dataIn preparation for this episode Owain advised me to read the Perils of Perception by Bobby Duffy, which was fascinating. I also brushed up on the Thaler and Sunstein’s “Nudge”Finally, we talked about Scarcity Mindset which is something I’m fascinated with, so much so that I wrote my own short paper about it, Mind Over Money. It’s a relatively short read, links back to some of the sources we discussed on the show, and as a bonus has a brief history of the concept of Scarcity Mindset and how some of the data I observe in my day job as Chief Impact Officer at Wagestream is potentially connected to this phenomenon. Hosted on Acast. See acast.com/privacy for more information.
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Why do we make the poor pay more?
Join our community to access bonus content, the full episode archive, and exclusive opportunities to get involved with the show.Thank you to Sara Davies, Senior Research Fellow at Bristol University Personal Finance Research Centre. Sara has been hands on developing the framework for measuring the poverty premium and in my day job I use her research to calculate and report impact. 💪💪💪Although we pitched this episode as being about measuring the poverty premium, mostly we spoke about how and why it arises, and some of the methodology behind the measurement. If you want to get into the technical details of how it’s measured, here are some of the resources we mentioned on the show:David Caplovitz’s 1963 book “The Poor Pay More: Consumer Practices of Low Income Families” → borrow a copy from the Open LibraryThis early report by Save the Children shows the potential cost of the poverty premiumPaying to be poor: uncovering the scale and nature of the poverty premium, published in 2016 is the seminal work from the Bristol University Personal Finance Research Centre. Some of the methodology (and data) has since been updated, and there’s a wealth of information about the poverty premium on the Fair by Design websiteWe spoke a bit about scarcity mindset on the show.I’ve written a short report called Mind Over Money that explores this in action, and links to further background reading.Finally, if you want to feel appalled about the cost of the ‘loyalty penalty’ have a skim through the Citizens Advice super-complaint to the Competition and Markets Authority. Hosted on Acast. See acast.com/privacy for more information.
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The loan shark next desk
Click here to join our community and access bonus content, the full episode archive, and exclusive opportunities to get involved with the show.When you think of an illegal money lender, perhaps you think of a shady figure in a dark alley, or a faceless contact on a phone screen. You may not picture your next door neighbour, your work colleague, or even your friend. More than one million people in England are currently in debt to an illegal money lender, and two thirds of this group thought they were borrowing from a friend. Loan sharks prey on the financially vulnerable, those with unavoidable expenses, and no other financial choices - in this episode, we learn who they are, and how they’re being stopped. Cath and Anna work on the front line of the England Illegal Money Lending Team, working to investigate and prosecute loan sharks in the UK. Their team comprises specialist investigators and Liaise Officers who have experience in all areas of the legal and finance worlds.Show notesA huge thank you to my guests Cath and Anna who came on the show to share the work of the England Illegal Moneylending Team (aka Stop Loan Sharks).We created this episode to put the spotlight on the work the team do, and to shine a light on a couple of worrying facts:Around half of all people who use a loan shark are in work1 in 5 people meet their loan shark in the workplaceIf you suspect someone is operating as a loan shark, report it by calling this 24/7 helpline: 0300 555 2222.Here are some links to the research, reports and organisations we covered on the show:The Centre for Social Justice report “Swimming with Sharks” is a comprehensive overview of what we know about loan sharks in the UK.Fancy getting into some legislation? We talked about the Proceeds of Crime Act 2002. Feel free to leaf through the details.We spoke about the regulation of payday lending (High Cost Short Term Credit) and the dramatic change to the volume and availability of payday loans. Have a look at this freedom of information request to see the figures for yourself. You can also check out the FCA’s 2022 financial lives survey for more information about the breadth of different financial products and how many people tend to use each one.Finally, the team at Stop Loan Sharks will provide free workplace training to help your staff identify the signs of illegal moneylending in the workplace. Please reach out if you’re interested. Hosted on Acast. See acast.com/privacy for more information.
Meet over half of the working world. They are the machine that powers our society - from making your coffee and emptying your bins, to caring for your relatives and delivering your parcels. You might see them as ‘frontline’ or ‘essential’ workers…or you might not see them at all. Invisible Worker explores the financial landscape of our most diligent workforce. By speaking to experts in mobility, inclusion, policy, research and more, we find out where the problems are, and how we can start to fix them. Hosted on Acast. See acast.com/privacy for more information.
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