May 17, 2016

Rent rises may help meet shortage of Grade A office space in Belfast ⁰

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

A chronic shortage of Grade A office space, especially those offering floor plates of over 10,000 sq ft in Belfast city means there is a growing acceptance in the market that Grade A rents need to continue to grow to encourage speculative development. This is due to the markets failure to provide suitable options within the City Core, finds the latest Belfast Offices Snapshot from Colliers. This lack of Grade A office stock Belfast has seen two well established Foreign Direct Investment companies (Allstate and Concentrix) bridge the gap from occupier to developer to secure their optimal property solution. However, the Belfast office market experienced a lower level of transactional activity in 2015 than expected. Take-up figures in 2015 totalled c.310,000 sq ft with the inclusion of the new c.100,000 sq ft Belfast City Council headquarters and therefore some way off the 2013 and 2014 take-up figures of 425,000 sq ft and 375,000 sq ft respectively.

May 16, 2016

Yet more evidence that flexible working is now mainstream ⁰

by Neil Franklin • Flexible working, News

Although flexible working remains an idea that is still often presented as some sort of novelty, challenge to the natural order of things, ‘trend’ or (spare us) a ‘craze’, at some point a lot of people will have to accept that it’s just the way an awful lot of people work nowadays. Earlier this year, The Work Foundation published a report suggesting that half of UK employers will offer flexible working by next year. Now, job site Monster.co.uk has published its own survey suggesting pretty much the same thing. It found that around a third of British employers already offer their staff some sort of flexible working arrangements and 26 per cent already offer them to all employees as a matter of course although it tends to apply somewhat disproportionately to senior employees. However, the research also claims that more than a fifth (21 per cent) of employees don’t know what their company’s policy is which is obviously a major constraint on its uptake.

May 16, 2016

Major survey aims to change approach to mental health at work ⁰

by Sara Bean • News, Wellbeing, Workplace

To mark the first day of Mental Health Awareness Week, (16-22 May 2016) the most comprehensive survey on workplace mental wellbeing has been announced. The National Employee Mental Wellbeing Survey is designed to herald a step change in how businesses approach mental health in the workplace. Mental ill health is the leading cause of sickness absence in the UK and is on the increase. 15.2 million days of sickness absence in 2013 were caused by everyday conditions such as stress anxiety or depression – a dramatic increase from 11.8 million days in 2010. Business in the Community which is launching the survey with support from Mind, CIPD, the Institute of Leadership and Management, The Work Foundation, Maudsley Learning at Work and Mental Health First Aid; aims to use the results to help identify solutions to improve mental health at work. A new interactive toolkit to help employers take positive actions to build a culture that champions good mental health also being launched today.

May 13, 2016

Graduates want meaningful work and a fully digitised workplace ⁰

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

Millennials entering the workforce want employment that offers meaningful work, ongoing learning opportunities and a fun workplace culture. This is according to a new study by Accenture on the workforce of the future which reveals that new graduates are increasingly digital, embracing new technologies, both to find work and on the job. The fourth annual Accenture Strategy 2016 U.S. College Graduate Employment Study found that the majority (70 percent) would rather work at a company that provides an employee experience built on a positive social atmosphere and receive a lower salary – up 10 percent on last year’s graduating class. Almost all (92 percent) of 2016 graduates said it is important to be employed at a company that demonstrates social responsibility. They are also three times as likely to prefer to work for a small or medium-sized company (44 percent), versus a large company (14 percent), indicating their preference for a smaller team environment.

May 12, 2016

Ageing and overweight workforce fuel rise in US disability claims ⁰

by Sara Bean • News, Wellbeing, Workplace

Overweight or obese workers and an ageing workforce mean that disability claims for joint disorders and musculoskeletal issues have increased significantly over the past ten years in the United States, according to data from Unum. Trends over the last decade show a 33 percent increase in long term disability claims and 14 percent increase in short term disability claims for musculoskeletal issues; with a 22 percent increase in long term disability claims and 26 percent increase in short term disability claims for joint disorders. “Two particular trends are driving this experience,” said Greg Breter, senior vice president of benefits at Unum. “Aging baby boomers are staying in the workforce longer, and more than a third of US adults are classified as overweight or obese.” The US Bureau of Labor Statistics estimates that by 2022, more than 30 percent of people ages 65-74 will still be working, up from 20 percent in 2002.

May 12, 2016

Third of those with mental ill health don’t tell anyone at work ⁰

by Sara Bean • Comment, News, Wellbeing, Workplace

As our story on levels of unreported stress in UK workplaces revealed yesterday, work is one of the greatest triggers for stress, depression and anxiety, which is why employers are constantly being reminded to look out for and address the causes of mental ill health. However, although it is often work that contributes to stress related problems, the stigma surrounding mental illness means too many people are reluctant to admit to struggling with mental ill health to managers or colleagues. A study commissioned by AXA PPP healthcare has revealed that a third of individuals (34 per cent) living with mental ill health who are in work say they are not open about their mental health condition in the workplace. Over half (52 per cent) of those living with mental ill health who didn’t seek support straightaway say this was because they didn’t want to admit that they needed it.

May 12, 2016

Office construction at highest level in London for eight years ⁰

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

Office construction in the Capital is at its highest level for eight years, according to Deloitte’s latest London Office Crane report, which measures the volume of office development taking place across central London. Recognising that the low supply of available office space across central London offers a limited choice for tenants, developers have responded by starting a record number of new schemes since the last survey. The latest results show that the volume of office construction has increased by 28 percent over the past six months to 14.2 million sq ft the highest level since the beginning of 2008. In just 18 months activity nearly doubled from 7.7 million sq ft in 2014. The financial sector has leased the largest share of office space under construction in the latest results, accounting for 2.3 million sq ft, or 39% of the let space while currently accounting for 38 percent of the space let, the TMT sector is a leading occupier group.

May 11, 2016

Central London office activity slows as EU uncertainty hits market ⁰

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

Given the level of uncertainty around June’s Referendum on the UK’s membership of the EU, the £11.9bn invested into commercial real estate during the first three months of 2016 appeared robust. However, 50 percent of Q1’s volume was in January, with the data from Lambert Smith Hampton showing that activity tapered off significantly in the following two months. Anecdotal evidence clearly linked the slowdown directly to the approaching vote. As a result there was a significant fall in activity, which translated into a very quiet quarter for Central London Offices, where volume halved quarter-on-quarter to £2.2bn, the lowest quarterly total since the last part of 2011. Given that financial services is widely regarded as the most exposed sector to a possible ‘Brexit’, this sector appears to have suffered most from investor caution.In marked contrast, investment in the rest of UK Offices has remained buoyant at £1.4bn, the highest quarterly total since the middle of 2007.

May 11, 2016

Work is most common cause of stress, anxiety and depression ⁰

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

Work pressures are the most common cause of stress in this country, with over a third (34 percent) of people in a poll saying it has contributed to mental health problems; while 20 percent say juggling a work/life balance also plays a major role in causing stress. Research from Aviva ahead of Mental Health Awareness Week (16-22 May) found that 12 million UK adults suffering from stress, anxiety or depression in the past year did not seek help, with many too embarrassed to do so. Stress (33 percent), anxiety (29 percent) and depression (23 percent) are the most common mental health conditions experienced in the past year, but of those who experienced stress, 55 percent did not seek support, while 48 percent did not seek help for anxiety. More people are taking action on depression, but around three in ten (29 percent) of those suffering with this in the last year still did not ask for support.

May 10, 2016

Alternate workplaces strategies explored as demand for US offices grows ⁰

by Sara Bean • Facilities management, Flexible working, News, Property

The US national office market recovery slowed slightly in the first quarter of 2016 amid some volatility within the financial markets. However, as the financial markets stabilised later in the quarter, office based job growth accelerated, likely signalling stronger tenant demand in the months ahead, according to a new report from CBRE. Tech and healthcare companies continue to drive growth, resulting in a scarcity of creative space in many cities. Meanwhile, energy-dominated markets slowed further due to sustained low oil prices. Many companies continued to seek space in vibrant downtown and suburban areas near public transport links in order to attract talent. A tightening supply within the Class A market has resulted in tenants exploring well-located Class B properties and creative space, with tenants across geographies and industries exploring alternate workplaces strategies to maximise efficiencies and collaboration.

May 9, 2016

Women not reaping full wellbeing benefits of flexible working ⁰

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

Working flexible hours is associated with lower job satisfaction among women, but greater satisfaction among men, a new study claims. The research explores the impact of flexible working on job, leisure and life satisfaction and suggests that women are not experiencing the full benefits. According to Dr Daniel Wheatley, lecturer in Economics at Nottingham Business School, Nottingham Trent University; the research suggests that while flexible working generates a number of benefits, working part-time or reduced hours has significant negative impacts on job satisfaction. He explains: “While some women are able to use reduced hours optimally, such as those working part-time following maternity leave, those using reduced hours for lengthier periods because of commitments such as childcare may feel trapped in ‘restrictive’ flexible employment. They may only be able to gain low skilled employment and may experience limitations in career progression.”

May 9, 2016

Public neither knows nor cares about the coming era of smart cities ⁰

by Mark Eltringham • Cities, News, Technology

The smart city is the poster child for the new era of immersive digital living, but the British public remains ‘clueless or indifferent’ about the nature of smart cities and what they will mean for their lives, according to a new report entitled: Smart Cities – Time to involve the people published by the Institution of Engineering and Technology. The report claims that only 18 per cent of the British public has heard of a ‘smart city’ and many are unaware that city-wide technologies could improve the quality of life in urban areas. One third of respondents were unable to select the correct definition of a smart city from a list of options. Eight per cent of respondents opted for “a city that has a higher than average proportion of universities and colleges and aims to attract the most intellectual”. And a further five per cent saw it as “a city that has a strict cleaning regime for its buildings, roads and public places”.