January 13, 2015

Investors priced out of London commercial property turn to regions

by Mark Eltringham • Cities, News, Property

According to a report from Reuters, foreign competition in the London commercial property market is forcing local investors to invest in regional cities to tap rising rents there, with many making purchases privately to avoid auctions or even building office blocks from scratch. Commercial property in London has become a popular safe haven for investors from places such as Russia, China and southern Europe as a result of the financial crisis, and office prices have bounced back strongly from the lows. From a $4 billion battle for control of the Canary Wharf financial district to the creation of the capital’s tallest building, The Shard, thanks to oil money from the Gulf, many of London’s landmarks have had a helpful overseas financing hand.

January 13, 2015

Nearly two-thirds of over 50s say flexible working is best route to retirement

by Sara Bean • Flexible working, News, Workplace

Around half of over 50s would like to carry on working part time after 65, while 39 per cent of feel that working part time or flexible hours before stopping work altogether would be the best way to retire. According to new research, one in four over 50s said they would be interested in taking a few months off and then returning to work as an alternative to retirement. Meanwhile 36 percent of retirees say their advice to others would be to consider switching to flexible or part time work for a period first before retiring and 33 per cent of over 70s still working said they did so because they enjoyed it. However the poll also reveals some discrimination, with 23 percent of over 50s believing they are viewed ‘less favourably than younger workers’ and 15 per cent experiencing age-based discrimination in the workplace.

January 12, 2015

Availability of office space in Central London has fallen by half since 2009

by Sara Bean • News, Property

The amount of available office space in Central London has fallen by almost half since 2009, new figures reveal. The latest end of year research by Deloitte Real Estate show that the availability of office space has fallen 14 per cent over the last 12 months, and warned that rents will probably rise by around six to over eight per cent as a result. In an analysis of the submarkets across the West End, Deloitte reports that Victoria has seen the greatest decline in available office space, falling 46 per cent in just 12 months. While the City of London market has not seen as dramatic a decline in available space, hovering around five million sq ft throughout 2014, it still remains at its lowest level for seven years. This is despite over 3 million sq ft of new office space completing construction during 2014 – a new high.

January 12, 2015

Lack of flexible working options is distorting the job market for women

by Mark Eltringham • Flexible working, News, Workplace

UK employers and their female employees are missing out on a range of opportunities because of their failure to implement better flexible working arrangements, according to a report from The Institute for Public Policy Research (IPPR). The report examined flexible working across Europe and found that while significant progress had been made in the UK, nearly two thirds (64 percent) of working women are unable to vary their working hours and a quarter (25 percent) claim it is difficult to take one or two hours from their day at short notice. The report claims the pent up demand for such working arrangements restricts employment opportunities for women compared to men, means more women are working in jobs below their skill level and creates the conditions for extensive underemployment.

January 12, 2015

Aging workforce driving uptake of flexible working in UK firms

by Mark Eltringham • Flexible working, News, Workplace

A growing number of employers see flexible working arrangements as an important tool for meeting the needs of their aging workforce, according to a new report from insurance industry trade association Group Risk Development (GRiD). The report highlights how changing attitudes, demographics, longer life expectancy and the abolition of the UK’s Default Retirement Age three years ago have encouraged employers to look at how to foster the wellbeing and meet the needs of older employees. Over a quarter (27 percent) of the 500 UK businesses who took part in the study had introduced flexible working specifically to meet the needs of their ageing workforce and many (22 percent) of employers said dealing with an ageing workforce was among their top three wellbeing issues.

January 9, 2015

Heavy workloads blamed as two thirds of staff fail to take statutory work break

by Sara Bean • Legal news, News, Wellbeing, Workplace

Almost two thirds of UK staff are not able to take their legally required minimum break. In a Bupa study of 2,000 full-time workers – 64 per cent claimed they are not always able to take their legally required 20-minute break when working six hours or more. Less than a third (29%) of employees are taking a full hour for lunch every day and worryingly, over a quarter (28%) of workers never take a breather of any kind during their working day. The main reason UK workers are not taking a break is the weight of their workload. The research shows that two in five (43%) employees believe they have too much work to pause for a few minutes. Managers are also setting a bad example as a quarter (24%) of employees see their boss not taking lunch and feel pressure to do the same.

January 8, 2015

Connecting to the workplace out of office hours can damage wellbeing

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

The use of tech outside of office hours can have a detrimental effects on workers’ wellbeing according to a paper presented this week at the British Psychological Society’s Division of Occupational Psychology conference in Glasgow. A meta-analysis by Svenja Schlachter and colleagues from the University of Surrey sought to determine the effects of being constantly “switched on” for work and found a blurring of boundaries between work and private life. The research showed that employees use a number of devices outside of office hours in the hope that staying “switched on” will increase flexibility and efficiency and because they believe there is a strong expectation to be available 24/7. This often has a negative effect on their work-life balance and increases stress.

January 8, 2015

Report outlines steps firms can take to banish the workplace blues

by Mark Eltringham • News, Wellbeing, Workplace design

The back to work blues following the festive holidays are a challenge for businesses and their employees. However, new research from office furniture maker Steelcase claims that prioritising employees’ wellbeing at work is one way to help employers and staff overcome their annual seasonal hurdle. The study of the link between workers’ wellbeing and the business’s bottom line claims that employees who are in a positive frame of mind are not only healthier, but more productive at work and better able to deal with workplace challenges. Steelcase has also produced a list of measures that the firm claims can help to create a working environment that looks after the wellbeing of employees and helps them to become more productive.

January 7, 2015

Three quarters of firms are now using or adopting BYOD practices

by Mark Eltringham • Flexible working, News, Technology

A new report by TechPro Research claims that just five years after it was first given the label, the practice of Bring Your Own Device (BYOD) is now so prevalent that nearly three quarters (74 percent) of organisations are either already using or planning to allow employees to bring their own devices to work. The report contrasts with past research into the uptake of BYOD to show how quickly the practice is developing and its implications for companies as a way of introducing new working practices and cutting costs (their own, natch) but also in the way they deal with the potential downsides relating to security and maintenance. The report also looks at the evolving role of the practice in light of new technologies such as wearable tech and the Internet of Things.

January 7, 2015

City of London office market reaches the highest volume of lettings for 15 years

by Sara Bean • Facilities management, News, Property

Central London leasing activity hit the highest volume since 2007 last year, while the office market in the city reached its highest volume for 15 years. Take up of central London office space totalled 12.4 million sq ft, when 12.7 million sq ft was let; which is 15 per cent ahead of 2013 totals. According to the latest research by Cushman & Wakefield, while all areas of the capital saw an upturn in activity during 2014, the City of London market recorded the highest volume of lettings for 15 years, with 7.2 million sq ft of transactions completed compared to 7.4 million sq ft in 1998. West End lettings reached 4.0 million sq ft; on a par with the last peak in 2007. Even Docklands saw take-up double in comparison to 2013 to exceed 1.0 million sq. ft for the first time since 2010; and the serviced office sector is thriving.

January 6, 2015

Government should accept that self employment is the new normal for many

by Mark Eltringham • Flexible working, News, Workplace

The Government should develop more policies that meet the needs of the growing numbers of self-employed in the UK and across Europe. That is the message of a new report from think tank The Institute for Public Policy Research which points out that while 40 percent of the rise in job levels since 2010 has been in self-employment, the Government should accept this is not a blip but a structural change in the way many people work and develop appropriate policies to meet their needs. The report argues that self-employment is already the new normal for some 4 million UK workers and the Government should take steps to ensure their pensions, training and earnings are in step with the rest of the workforce.

January 5, 2015

Workers feel increasingly undervalued and over a third plan to move jobs this year

by Sara Bean • News, Workplace

There’s been a dramatic increase in the number of workers planning to move jobs. According to the latest research by the Institute of Leadership & Management (ILM), 37 per cent of workers are planning to leave their current jobs in 2015 – compared to 19 per cent in 2014 and 13 per cent in 2013. Of those who left their jobs in 2014, 35 per cent cited greater opportunity for progression as their main motivation for seeking a new role – compared to only 12 per cent who sought a higher salary. In 2015, that has increased to 59 per cent, meaning increased opportunity is a number one priority; beating a better salary (56%), a more interesting role (50%) and better management (30%). Staff are also feeling increasingly undervalued by their managers. 25 per cent of those planning to leave said they felt unappreciated in their current role, almost 10 per cent more than last year (16%). More →