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Surge in take up of London commercial property defies Brexit storm

Surge in take up of London commercial property defies Brexit storm 0

Apple pre-let 500,000 sq ft at Battersea Power StationLondon commercial property has managed to weather the Brexit storm with a late surge of City deals over the past three weeks set to see Central London take-up in line with its long-term average level of 10 million sq ft in 2016. According to the latest figures from JLL, despite take-up in Central London being subdued in the lead-up to and immediate aftermath of the referendum, City take-up has surged during the last quarter, and is expected to reach 5.3 million sq ft by year end, just 6 percent below the long term average. This is offset by strong take-up in East London, where the recent deal to the GPU at Canary Wharf propelled take-up to 8 percent above its long term average level. The most notable deals of 2016 included – The Government Property Unit (GPUK) took 542,000 sq ft at 20 Cabot Square, E14 which was a sub-lease from Barclays; Apple pre-let 500,000 sq ft at Battersea Power Station, SW8 and will be paying a rent in the high £50 per sq ft; Thompson Reuters acquired 315,362 sq ft at 5 Canada Square, E14, paying a rent of £40 per sq ft; 33 Central, EC4 was pre-let to Wells Fargo who took the entire building, totalling 227,689 sq ft and New Look pre-leasing 127,096 sq ft at R7 Handyside Street, N1C for £77.50 per sq ft.

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Baby boomers better off at work but their wellbeing must be managed

Baby boomers better off at work but their wellbeing must be managed 0

A new report on the state of the public’s health and wellbeing, ‘Baby Boomers: Fit for the Future’, by Professor Dame Sally Davies, the Chief Medical Officer for England, advises that good quality work is good for baby boomers’ health and that employers have a role to play by helping their staff to remain healthy enough to stay in employment.  According to the report on those aged  between 50 and 70, there is an increasing body of evidence that for most people ‘good work’ is good for personal health, organisational productivity and economic prosperity. It also advises since many people define themselves and their position in society in terms of their job, staying in employment is also a significant contributor to self-esteem. The report also finds there is promising evidence that the continued social engagement that some people find in employment may defer the onset of cognitive decline and the risk of dementia.

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Public sector employees ‘stressed’ but remaining optimistic following Brexit

Public sector employees ‘stressed’ but remaining optimistic following Brexit 0

 Public sector employees 'stressed' but remain optimistic following BrexitLevels of stress among public sector workers remain higher than any other sector, despite job satisfaction being at its highest level in four years amidst a tide of wider post-referendum optimism. This is according to the latest CIPD/Halogen Employee Outlook report of more than 2,000 employees which found that 63 percent of employees are satisfied with their jobs, rising to two-thirds (66 percent) in the public sector, the highest level for that sector since autumn 2012. However, public sector employees still report higher levels of pressure and exhaustion at work than any other sector. Two in five public sector workers (43 percent) say they are under excessive pressure at work at least once a week (all employees: 38 percent), and nearly half (46 percent) say they come home from work exhausted either always or often (all employees: 33 percent). The survey also suggests there is ample room for improvement in employee development and career progression which employers must address quickly so as not to lose valuable talent.

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Slow broadband prevents thousands of Brits working from home

Slow broadband prevents thousands of Brits working from home 0

slow-broadbandAlthough the vast majority of British people who work from home need a fast internet connection, around a quarter of them are hampered by slow broadband, according to a new survey from comparison website Broadband Genie. The news comes on the day the Government finally announces that BT is to divest its Openreach arm which looks after the nation’s broadband infrastructure. The timing is welcome news for broadband users who have been frustrated for years by the UK’s second rate technological infrastructure. According to the Brodband Genie study the majority of people who work from home believe it has a  positive impact on their happiness, work life balance, productivity and motivation. Yet while  90 percent rely on broadband in order to work from home almost a quarter of homeworkers are limited by slow connections.

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Britain is missing a trick by not getting workplace training right

Britain is missing a trick by not getting workplace training right 0

workplace trainingNew research from PwC highlights Britain’s failure to provide opportunities for young people. The study brings attention to the fact that the country ranks a lowly 21st out of 35 OECD members for its ability to get 15 to 24 year olds into work, education or training. If the UK could equal Germany’s low youth unemployment rate it would stand to gain around £45 billion, a 2.3 percent increase in GDP. The PwC report compares numerous countries, however Germany, Austria and Switzerland come out on top when it comes to providing career opportunities and workplace training to young people. Perhaps a clue to their success is that these nations all have so-called ‘dual education systems’ where work-based learning sits with equal stature alongside traditional academic study.

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Employers urged to find ways of motivating and retaining older workers

Employers urged to find ways of motivating and retaining older workers 0

Employees over 50 still have a huge amount to offer, and that is why employers need to develop and implement strategies to find ways of managing and retaining them. The results of a three year study – led by Nottingham Trent University with Workplace Innovation Limited – aimed at preventing the loss of vital knowledge, skills and experience of increasingly ageing workforces indicate that measures should be taken by employers to ensure older workers don’t become demotivated and head into early retirement. The first-of-its-kind study follows findings which reveal that by 2030 the number of people aged over 55 in high-income countries will have grown to 500 million. As part of the study, researchers found that interventions which seek to improve job design and the way in which work is organised can lead to better engagement and retention of older workers – as well as producing wider benefits for the business and its employees. The project investigated work-related predictors of retirement for the over 50s, finding that manageable job demands and more control over roles were key factors in delaying a decision to retire.

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The workplace puzzle + Feeling blue about work + Commuting more than ever 0

Figuring out the workplace puzzleIn this week’s Newsletter; Ian Ellison says there are no silver bullets for workspace design, but it’s worth the effort; Justin Miller explores the workplace implications of seasonal affective disorder (SAD); and Jeff Flanagan explains why workplace design and management teams should look towards consumer-facing industries for inspiration. Asia set to lead the world in the uptake of artificial intelligence in the workplace; Staples announces tomorrow’s workplace design winners; and UK Government to invest properly in the next generation of technological infrastructure. One in seven UK employees now commute over two hours each day; Millennials reject the gig economy; Autumn statement could adversely affect London’s tech firms; and global report finds that flexible working is a necessity for younger workers. Download our new Briefing, produced in partnership with Boss Design on the link between culture and workplace strategy and design; visit our new events page, follow us on Twitter and join our LinkedIn Group to discuss these and other stories.

Reducing paper-weight is the key to maintaining a healthy business in the digital age

Reducing paper-weight is the key to maintaining a healthy business in the digital age 0

cameraThe idea of creating a paperless office has been circulating for at least 40 years. Business Week famously forecast its arrival in 1975, predicting that paper would be on its way out by 1980 and dead by 1990. However, it’s almost 2017 and even with new and innovative digital technologies that enable us to operate in a highly connected world, the paper-light office is still far from our reality. Yet institutions from a variety of different sectors are leading the way when it comes to driving initiatives forward to going paperless and paper-light. For example, to address the need of approximately 12 million people in the UK that annually fill in a self-assessment tax form, plans have been put in place by the government to give individual digital accounts, aiming to allow more than 50 million individuals and small businesses to manage their tax affairs online. As a result, costs will be significantly cut by erasing expensive and laborious bureaucratic processes in the long-term, whilst fundamentally streamlining and simplifying intricate business services and applications.

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Autumn Statement could undermine the growth of London’s tech firms 0

london-tech-firmsChanges in business rates announced in yesterday’s Autumn Statement are likely to hit hardest the areas in the Capital such as Shoreditch and Fitzrovia where innovative tech companies are located, commented Jon Neale, head of UK Research, JLL. “The impact will no doubt undermine government plans to boost tech investment under its ‘Industrial Strategy’ announced earlier this week,” he said. “Meanwhile, office costs are high in London and post Brexit we need to minimise the risk that companies, will see cheaper continental cities such as Berlin as better bet place to set up shop.” He did add however that the promised “£1.3bn to improve roads and ease congestion is welcome and is likely to unlock development sites and promote economic development in many parts of the country. If the UK is to really address the challenges and opportunities of Brexit, investment in infrastructure needs to be more ambitious as well as more focused on an increasingly digital, hi-tech future. Green and smart city technology, new tram and underground networks and truly high-speed broadband would help provide precisely the platform UK business needs.”

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Gender earnings gap in tech sector is significantly higher than national average

Gender earnings gap in tech sector is significantly higher than national average 0

homepage-insideThe high tech sector may pride itself on offering some of the most attractive and modern workplace environments, but when it comes to equal parity between the sexes it seems out of date. New research from Mercer claims that at 25 percent, the gender earnings gap in the UK’s high tech sector is significantly higher than the national average (18 percent). The consultancy also found that small companies have the largest gap, with a 30 percent difference in (median) pay between all male and female employees, and a 26 percent gap when considering mean base salaries. This difference reduces as company sizes grow. Where the data allowed comparison of pay between women and men in equal job roles, the pay gap was much smaller, typically 8 percent. This is comparable to the UK norm of 9 percent for this type of analysis. The reasons for this gap is due on further analysis to a multitude of factors including the reluctance of many women to enter the tech field, not enough effort being put into promoting women and a lack of will in promoting flexible working patterns.

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Number of people who commute over two hours a day increases by a third

Number of people who commute over two hours a day increases by a third 0

Number of people who commute over two hours a day increases by third

One in seven UK employees commute over two hours or more each day. This represents an increase of nearly a third (31 percent) over the past five years, which claims the TUC, is due to a combination of low wages, high house/rental prices and the government’s lack of transport infrastructure spending, According to a new analysis by the union to mark Work Wise UK’s Commute Smart Week, in 2015 3.7 million workers had daily commutes of two hours or longer – an increase of 900,000 since 2010 (2.8 million). In 2015 one in seven UK employees (14 percent) travelled two hours or more each day to and from work, compared to one in nine in 2010 (11 percent). UK workers spent 10 hours extra, on average, commuting in 2015 than they did in 2010. This is the equivalent of an extra 2.7 minutes per day. London (930,000) has the highest number of employees who make long commutes, followed by the South East (623,000) and the East of England (409,000); while workers in Northern Ireland (+57 percent) have experienced the biggest rise in long commuting, followed by the South East (+37 percent) and the West Midlands (+27 percent).

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Google confirms it is to go ahead with massive new London HQ

Google confirms it is to go ahead with massive new London HQ 0

googleFollowing the announcement in September that Apple was to reaffirm its commitment to the UK with a major investment in the creation of a new headquarters building in London, the latest global tech giant to follow suit is Google. The firm has confirmed it is to open a new HQ in the capital which will see 3,000 jobs created by 2020. In an interview with the BBC, chief executive Sundar Pichai claimed that he is confident that the UK Government will not be throwing up barriers to the movement of skilled labour in the wake of the Brexit vote. Based on this he is moving ahead with the Bjarke Ingels Group and Thomas Heatherwick designed £1 billion Kings Cross development that will allow the firm to expand its UK workforce to 7,000 people. Heatherwick has previously worked with Google alongside Bjarke Ingels Group on the design of their Mountain View headquarters in California. He was drafted in to work on the London project after a previous design was rejected because it was ‘boring’.

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