October 18, 2016

New CoreNet Global / HOK report explores impact of coworking on corporate real estate ⁰

by Mark Eltringham • Coworking, Flexible working, News

The UK Chapter of CoreNet Global, in partnership with HOK’s WorkPlace practice, has released a new report that studies the impact of coworking from a corporate real estate (CRE) perspective. With coworking now one of the fastest-growing sectors of the commercial real estate market, the new report, Coworking: A Corporate Real Estate Perspective, examines the drivers of coworking from the demand and supply side, the industry risks and implications for corporate real estate, as well as information about the owners, coworkers and centres. The CoreNet Global / HOK Coworking report highlights the ideas that changing business priorities and the need to attract talented people, reduce real estate costs, improve speed to innovation and increase productivity are driving corporations to consider different workplace models, including on- and off-site coworking.

October 18, 2016

UK marketers suffering from tech-induced anxiety, survey claims ⁰

by Neil Franklin • News, Technology

More than half (55 percent) of marketers in the UK are struggling to cope with the accelerated pace of digital transformation – up 7 percent since 2015, Adobe’s annual Digital Roadblock study claims. The report – which surveyed 450 marketers in the UK– found that Brits suffer from more tech-induced anxiety than their peers across the region: an average of 44 percent of marketers in Europe worry about their technology-based skill sets, 11 percent lower than the UK. Of the marketers surveyed, three-quarters (74 percent) feel that they need to implement new technologies within their marketing strategies in order to succeed, but just over half (54 percent) feel that they actually have the skills to do so. When it comes to technology skills, there’s an obvious gap between demand and reality: while 41 percent of respondents cited being a ‘tech-savvy’ early adopter of new technologies as the top attribute of being a marketer, only 15 percent actually identify as ‘tech-savvy’ themselves. In fact, more UK marketers identify as ‘tech challenged’ (20 percent) than ‘tech savvy’, and the number of ‘tech-savvy’ marketers has dropped since last year, when nearly one in five (19 percent) identified as so.

October 18, 2016

London office sector still recovering from Brexit shock ⁰

by Sara Bean • Cities, Facilities management, News, Property

Although the UK economy has shown a measure of resilience post referendum, take-up in the key London office market, although still on a quarter to quarter rise of 34 percent, is 7 percent below its long term average. According to the latest London Office Snapshot from Colliers, transactions were largely boosted by major deals to Apple (500,000 sq ft) and Wells Fargo (220,000 sq ft), with both deals for new headquarters buildings, in Battersea and the City core respectively, being a major vote of confidence for London. In the City, the level of take-up demonstrated some positivity as it rose by 8 per cent quarter on quarter, though the quarterly take up is still 26 percent below average. Though pre-letting activity was healthy, doubling quarter on quarter, West End take-up was disappointingly subdued in the third quarter, falling further from the already sharply below trend Q2 total. Encouragingly, a number of deals that were seemingly ‘mothballed’ post referendum have now been concluded, albeit at marginally lower price points.

October 18, 2016

Stress and overwork in the City of London remains endemic, finds research ⁰

by Sara Bean • Flexible working, News, Wellbeing, Workplace

The financial services industry has never been known as a ‘touchy-feeling’ environment, and despite efforts to raise the issue of mental ill health at work, appears resolutely resistant to cultural change. This perception is reinforced by a new piece of research which claims that rising stress in the City is driving more than two out of three investment bank staff to consider quitting their job – but employees believe talking about stress or mental health issues to management will damage their careers. In a study by MetLife among decision makers at financial institutions two out of five (40 percent) think their job is extremely stressful with 67 percent considering quitting their jobs in the next year if stress levels do not improve. However, despite the impact of stress on their work and home lives, around 70 percent believe that admitting to suffering from anxiety or mental health issues will damage their career prospects and there is a reluctance to offer staff more flexible hours to help reduce the strain.

October 18, 2016

UK large businesses are failing to create a culture of creativity and innovation ⁰

by Neil Franklin • News, Workplace

A new study claims that the UK lags behind other European countries when it comes to fostering a culture of innovation at creativity at work. Whilst 63 percent of French employees and 57 percent of Spanish employees feel empowered to lead innovation and drive change, less than half (47 percent) of employees surveyed across the UK agree. In turn, this appears to be impacting morale; just 54 percent of employees in the UK said they feel inspired in the workplace compared to 74 percent in Spain, 73 percent in France and 66 percent in Germany. As businesses strive to stay ahead of the competition, making innovative use of technology is a top priority. However, the research commissioned by BMC and conducted by Opinion Life, suggests that businesses across the UK are struggling to foster an innovative culture fast enough and failing to capitalise on the creativity of their staff.

October 17, 2016

Freelancers are thriving on both sides of the pond, but have politicians noticed? ⁰

by Mark Eltringham • Flexible working, News, Technology

Two new reports that highlight the growth of the freelance and self-employed workforce in both the UK and US also suggest that politicians and civil servants in both countries have little real understanding about the changing nature of work. According to the UK government’s regular Business Population Estimates report, the number of private sector businesses is at an all-time high, around 5.5 million, up by a million since 2010. Yet the report fails to distinguish between freelancers, the self-employed and traditional SMEs, except to omit firms that are too small to pay VAT from its numbers. The trade association IPSE estimates that there are some 4.6 million self-employed and freelance workers in the UK, yet the BPE report does not account for the overlap in numbers. Even within the BPE’s own numbers, there are suggestions that its conclusions do not match the data. The annual growth in non-employing businesses outstripped those who employed others by a factor of 6:1 and 76 percent of businesses did not employ anyone aside from the owner. And the growth comes despite the fact that the self-employed in the UK now earn marginally less than they did 20 years ago.

October 14, 2016

Stress levels among Gen Y workers higher than other generations ⁰

by Sara Bean • Flexible working, News, Wellbeing, Workplace

Younger workers are more affected by workplace stress than their older colleagues, with half of Generation Y UK workers (50 percent), reporting heightened levels of stress in the workplace, compared to 44 percent for generation X and 35 percent within the baby boomer generation. The Global Benefits Attitudes Survey of 1,895 employees in the UK by Willis Towers Watson suggests that the top causes of workplace stress for Millennials were inadequate staffing and low pay, which mirrored the top two causes across all generations in the survey. This is followed by a lack of work/life balance and unclear and/or conflicting job expectations, whereas for baby boomers it is company culture and excessive organisation change. The report also shows Gen Y workers are more worried about their finances than older workers, with 64 percent of younger workers reporting being worried, compared to 55 percent of generation X workers and 38 percent of baby boomers.

October 14, 2016

Digital tech, leadership and company values aid staff performance ⁰

by Sara Bean • Facilities management, Flexible working, News, Technology, Wellbeing, Workplace

Accessible leaders and strong company values are important factors that can ultimately reflect an employee’s success or failure within the company. However,so too is equipping employees with the latest technology, and it’s an area where many organisations are falling down. A study by Oracle awarded low marks when it came to companies capitalising on technology to help them connect with employees in more ways than ever to create a more modern and customised learning experience. Just 44 percent of respondents said that their employer uses the latest digital technology to enable them to effectively perform in their role. Feedback from nearly 5,000 full-time employees at organisations with 250 or more employees also revealed that only 38 percent say that their company is concerned about their overall well-being, despite the fact that employees are most comfortable and productive within a creative, yet flexible workplace culture. More →

October 14, 2016

Many employees remain reluctant to approach bosses for flexible working, claims study ⁰

by Mark Eltringham • Flexible working, News

The sluggish uptake of flexible working following the introduction of new parental leave rights last year, may be down to the reluctance of many employees to ask for it. That is one of the conclusions of a new report from flexible working consultancy My Family Care and recruitment firm Hydrogen. It found that over half (54 percent) UK employees surveyed would like to work from home, but just a third (34 percent) actually do. The report surveyed 1,587 UK employees and 310 UK employers to gauge their attitudes towards and experience of flexible working. It found that over a quarter (28 percent) of employees said they did not feel comfortable even talking to their employer about the subject. Respondents claimed their wariness was down to appearing less committed and the implications for the careers and pay.

October 13, 2016

Design is the top factor when it comes to workplace happiness, claims study ⁰

by Mark Eltringham • News

New research from Office Genie claims that office design makes the most significant difference to employee happiness levels. According to the survey of 2,000 British workers, when someone felt comfortable with the design of their workplace, it boosted their happiness by 33 percent compared to those who felt uncomfortable. Workplace design was found to have a larger impact than office temperature levels, light levels, noise levels, and social interaction levels: temperature made an average difference of (5 percent), light (6 percent), noise (8 percent), and social interaction (8 percent). It also came in ahead of the ability to work flexibly, specifically the ability to work from home which made a 12 percent difference to happiness levels. This is particularly remarkable when flexible working is often cited as one of the biggest factors affecting employee happiness, according to the study.

October 13, 2016

London needs to adapt to the changing world of work, claims think tank ⁰

by Neil Franklin • Architecture, Cities, News, Property, Workplace design

Think Tank New London Architecture (NLA) which creates a forum for debate on the built environment, has launched its findings and recommendations from its landmark WRK / LDN Insight study on work and workplaces in London. NLA calls on central government, the Mayor of London and other stakeholders in the capital to act to maintain the capital’s position as a preeminent commercial centre. The report claims that, as the digital economy continues to expand, new suppliers of workspace are rapidly emerging – from co-working providers to ‘fab labs’, makerspaces, incubators and innovation centres. The insight study concludes that the affordable business space that currently supports these industries is at risk. London needs new innovative mixed-use models of city planning to support these changes and adapt to the changing world of work.

October 13, 2016

Mix of core and flexible workspaces will shape real estate by 2030 ⁰

by Sara Bean • Facilities management, Flexible working, News, Property, Technology, Workplace design

Thanks to the combination of a changing workforce and greater connectivity, up to 30 percent of corporate real estate portfolios will incorporate flexible workspaces by 2030, with offices more likely to be built around core hubs and comprising fewer locations. Along with this the Internet of Things and smart buildings will create new ways of managing productivity, sustainability and the user experience. These are some of the key findings of JLL’s new report series ‘Workspace, reworked: ride the wave of tech driven change’; two reports exploring the impact of technology, data and digital disruption on work spaces and real estate investment strategies. The series focuses on the office sector over the next 15 years, looking at how occupiers, developers and investors will need to view real estate differently and adapt in order to enhance investment returns and create work spaces that are fit for purpose in a rapidly changing, highly-connected world.