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Gig economy workers to make up fifth of employees in financial services firms, claims report

Gig economy workers to make up fifth of employees in financial services firms, claims report

gig economyMore than half of financial institutions say they expect to have more ‘gig economy’ based employees over the next three to five years, according to PwC’s report, Productivity 2021 and beyond: Upskilling the workforce of the future to create a competitive advantage in financial services. The second iteration of PwC’s productivity research, that surveyed over 500 financial services businesses globally, and received over 60 percent of responses from C-suite leaders, looked at some key workstreams implemented by financial services businesses and evaluated its impact on productivity. More →

AI will transform financial services in two years

AI will transform financial services in two years

AINearly two-thirds of financial services leaders expect to be mass adopters of AI in two years compared to just 16 percent harnessing it today, a survey from the World Economic Forum and the Cambridge Centre for Alternative Finance (CCAF) claims. This is despite fears around AI, with 58 percent of the 150 senior executives surveyed expecting it to worsen discrimination in the sector and the same number expecting privacy breaches to increase. More →

Always on working culture in financial services sector driving staff to burnout

Always on working culture in financial services sector driving staff to burnout

always on in the city of LondonMore than nine in ten banking and financial services professionals in the UK work beyond their contracted hours every week, according to a new survey — laying bare the extent of the City’s always on working culture. Almost half, or 47 percent, said that they do not leave the office or take a break at lunchtime, according to the survey by Morgan McKinley. The recruitment firm canvassed the views of around 480 finance workers in an informal poll to come to its conclusions. More →

Bosses at financial services firms falling behind on tech know-how

Bosses at financial services firms falling behind on tech know-how

Canary Wharf, home of the UK financial services sectorWith widespread disruption from new and emerging technologies facing companies, the financial services sector is still lacking in both diversity and CEOs with a background in technology, according to recent analysis from recruitment firm,Robert Half UK. According to the results of the annual Robert Half FTSE 100 CEO Tracker, not one of the CEOs leading the FTSE 100’s financial services companies has a background in technology. By contrast, the proportion of CEOs with a background in technology across all sectors has increased by 27 percent over the past year, as the impact of digitisation is felt across multiple industries and sectors. More →

Financial services firms slow in offering flexible working to all employees

Financial services firms slow in offering flexible working to all employees

New research from TeleWare claims that 94 percent of employees in financial services firms believe it is important for them to be able to choose the hours they work and where from. Yet, only just over a third (36 percent) of employees in the sector work for firms that offer flexible working. Of those firms that do offer it, more than a fifth (22 percent) of employees said it isn’t available to all employees – only those of a certain level of seniority.

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Penson completes design for artful London HQ of financial services company SEI

Penson completes design for artful London HQ of financial services company SEI 0

se17853-minFinancial services firm SEI has taken residence at a new London headquarters designed by Penson. Located in Finsbury Square, The Alphabeta Building is spread over three floors. The 6320 sq. m, office incorporates natural materials such as upcycled timber, bold red steel and colourful walls. The office is divided into individual hubs with meeting rooms, chill-out zones, kitchenettes and pods providing a balance between open and private spaces. The new HQ is also set to house part of the West Collection, a contemporary art collection owned by Alfred P. West, Jr., Chairman and CEO of SEI, and curated by his daughter. The works include sculpture, installations drawing, painting, and photography, many of which reflect an environmental theme.

Flexible working increasingly the norm for financial services firms

Flexible working increasingly the norm for financial services firms 0

Commuters walking into the central financial business district of London's DocklandsFlexible working is on the way to becoming the norm in financial services with the average employee spending 39 percent of their time working remotely, according to new research from tech consultancy Intercity Technology. The company surveyed a mere 100 employees from different organisations within the financial services market to gain insight into their workplace habits so you may want to treat this carefully. The respondents also thought this proportion of time spent remote working would increase in the next two years to 41 percent, with an ever increasing adoption of technology-led solutions in the workplace. Additionally, the surveys suggests that 70 percent of employees believe using a device of their own choosing positively impacts the way they work with their colleagues, with the biggest specific benefits identified as flexibility (51 percent), more productivity (42 percent) and improved collaboration (33 percent).

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The financial services sector leads the way in how we think about office design

Office design and the cityThe office as we know it may continue to change, but that doesn’t mean its vital role at the heart of the organisation will diminish. The recent downturn meant some tough decisions had to be taken by many companies. It certainly focussed more attention on the way firms design and manage their workplace, based on a clear understanding of their economics. It is one of the most commonly cited truisms about office design that after staff, buildings are easily the second highest item of expenditure for the majority of organisations. The conclusion often drawn from this is that there is a compulsion to reduce space through new working practices or more efficient office design and management. Which may be true but the challenge is to take advantage of these opportunities without adversely affecting the company’s most expensive and valuable asset; its staff.

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HOK releases new workplace benchmarking report for financial services sector

HOK Benchmarking reportArchitectural practice HOK has released a new benchmarking report that examines design and work-style trends at leading financial services firms over the past three years, including the finding that space is underutilised across the sector by nearly a half, meaning that growth can easily be accommodated within the existing facilities of many firms. The HOK Benchmarking Report claims to provide information on recent trends affecting the industry, an analysis of how organisations are using office space and metrics for space standards based on recently completed workplace projects for financial services firms in New York, Toronto and London. The authors claim that because ‘companies are eager to understand the link between their work environments and organisational performance, the space standards and findings in this report can provide a baseline to help corporate real estate and facilities professionals identify and respond to opportunities for improvement.’

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Companies that adopt agile working enjoy improved financial performance, claims report

Companies that adopt agile working enjoy improved financial performance, claims report

Companies that embrace agile working and and a generally more flexible and responsive way of working enjoy a financial and operational competitive advantage over their rivals, according to new research from PA Consulting.  Two thirds of the respondents said that their business model is at risk of fundamentally becoming outdated, with agile considered a key method for transitioning to a future-proof strategy. While agile is typically regarded by many as a method geared at streamlining operations, PA Consulting’s research suggests the approach could take things a step further. The consultancy conducted an international study among 500 executives of large companies across a range of sectors, asking them how they view agile working and what they see as the key factors for successful adoption. More →

Nearly a quarter of London office take up is in financial sector, says CBRE

Nearly a quarter of London office take up is in financial sector, says CBRE

Nearly a quarter of London office take up in financial sector, says CBREDespite political and economic uncertainly and the aftermath of the global monetary crisis in 2008, London remains a leading global financial centre, with nearly a quarter (24 percent) of the capital’s office take-up attributed to banking and finance occupiers over the last ten years. London is by far the most active banking centre in Europe, according to the latest research from global real estate advisor CBRE. According to the report, 1.1 million people were employed in the UK financial services sector in 2017, of which 34 percent were in London. More →

London office demand bolstered by tech media, financial and serviced sectors

London office demand bolstered by tech media, financial and serviced sectors

One Creechurch Place Serviced offices dominated office take-up in London’s West End in August, mainly due to three big transactions resulting in a 44 percent market share, but the Tech and media sector continues to be the main driver for space. According to figures from Savills just shy of a third (31 percent) of take-up for office space this year has been to Tech and media sector occupiers. Similarly, West End and Central London requirements almost mirror demand from this sector, with the Tech and media sector accounting for 35 percent of the 4.3m sq ft of active requirements.

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