Search Results for: financial services

Brexit thought to be the main culprit for job market attrition and ‘dual’ economy

by • Cities, News, Workplace

There are ongoing dual narratives in UK economy caused by the 2016 Brexit vote, the latest Morgan McKinley October Employment Monitor suggests. On the one hand, a new report by Colliers International dubbed London Europe’s top economic City. On the other hand, institutions are stubbornly stuck in limbo, and the fear of major jobs losses looms thick in the sky, keeping hiring low. “The economic tug of war that Brexit kicked off means we still have no idea quite where we’ll land,” said Hakan Enver, Operations Director, Morgan McKinley Financial Services. October was the lowest jobs month of 2017, a possible indication that the closing months of the year will be especially quiet. Job seekers increased by 6 percent month-on-month, but were down just under 40 percent year-on-year. The trajectories are in line with the overall dual trends of 2017. Jobs available were down 14 percent month-on-month and 20 percent year-on-year. Given the underlying health of the economy, Brexit looks to be the main culprit for the job market attrition.

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Rise in gender and ethnic diversity to boards in finance sector, despite ‘closed shop’

by • Legal news, News, Workplace

Banking and finance companies within the FTSE 100 have increased gender and ethnic diversity at board level, but there remains a question over whether minorities can break through the glass ceiling, as many of the top roles in banking and finance companies (Chair, CEO & CFO) remain a closed shop for ethnic minority and female leaders. This is according to a new study from Green Park which claims the leadership pipeline, supplying the highest tier of management in FTSE 100 banking and finance companies, now features the highest level of ethnic minority talent in four years, including 15 percent of professionals with a non-white background compared with 5 percent of leadership pipelines for FTSE 100 companies overall and 6.5 percent in 2014. The banking and finance sector has also met the target set by Lord Davies that 25 percent of board members should be female. However, this has been updated by the Hampton-Alexander Review to a target of 33 percent by 2020, which suggests that banking and finance companies will still need to do more to increase the proportion of female leaders in their leadership pipelines.

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Boundary-less workplaces must offer contextual, personalised workspaces

Boundary-less workplaces must offer contextual, personalised workspaces

by • Facilities management, Flexible working, News, Technology, Workplace, Workplace design

'Boundary-less' workplaces must offer contextual, personalised workspacesThe future workplace will replace familiar, rigid hierarchies and departments with small, collaborative networks of teams and the lines between individual organisations and ecosystems will blur as companies increasingly cast their net wider to innovate. This is one of the predictions made in a Fujitsu-commissioned whitepaper ‘Workplace 2025’ which argues that businesses must rethink social and technology strategies to plan for the future workplace – or risk being left behind. To appeal to future employees with the right skills, the whitepaper, which was produced by European research firm Pierre Audoin Consultants (PAC) advises that businesses must ensure they are moving towards an environment that provides contextual, personalised workspaces aligned to the individual needs of users. At the same time, they should plan to encourage enhanced peer collaboration by implementing technologies such as augmented reality. The Workplace 2025 report foresees that today’s organisational structures will become more agile, adapting to constantly-changing economic conditions, competitive landscapes and customer demands.

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Prestige of a London office location continues to drive demand among SMEs

Prestige of a London office location continues to drive demand among SMEs

by • Cities, Facilities management, News, Property

Leo offices in MayfairThe London office market remains a buoyant market despite Brexit uncertainty, as many organisations see it as the most prestigious location for businesses of any size. In research conducted by London Executive Offices (LEO) 60 percent of entrepreneurs and business executives would choose London as their business location for allowing good access to customers; 57 percent say that start-ups have the best chance of success if located in London, and that they could achieve annual growth of 20 percent by being based in the capital. Over half of those surveyed strongly believe that a London office address creates a better perception of their business. LEO’s findings also demonstrate that certain London locations remain traditionally associated with particular sectors. Of those financial companies surveyed, 73 percent would choose established financial services hotspots Bank and Canary Wharf to base their start-up. Office space in the City remains an attractive proposition, evidenced by LEO’s recent launch at 1 King William Street at over 80 percent let.

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Report warns of growing cybersecurity threat to organisations by their own staff

Report warns of growing cybersecurity threat to organisations by their own staff

by • Facilities management, News, Technology, Workplace

An overwhelming majority of employees are deliberately seeking out information they are not permitted to access, exposing a major cybersecurity problem among today’s workforce, claims new research published by One Identity. The survey, conducted by Dimensional Research, polled more than 900 IT security professionals on trends and challenges related to managing employee access to corporate data. Among key findings, a remarkable 92 percent of respondents report that employees at their organisations try to access information that is not necessary for their day-to-day work – with nearly one in four (23 percent) admitting this behaviour happens frequently. Most alarmingly, the report indicates that IT security professionals themselves are among the worst offenders of corporate data snooping. One in three respondents admit to having accessed sensitive information that is not necessary for their day-to-day work.

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UK businesses continue to stifle personal creativity at work

by • News, Workplace

UK businesses are failing to support a culture of innovation despite employees believing that their companies would benefit from fresh ideas and innovative ways of working, new research claims. The study of 1,000 workplaces conducted by RADA in Business (the commercial subsidiary of the Royal Academy of Dramatic) found that 81 percent of workplaces had failed to create a culture of creativity at work that encourages new ideas and experimentation, according to their staff. Many employees feel that businesses are suffering as a result, with just under a quarter (24 percent) saying that their workplace is desperately in need of new ideas and fresh thinking to overcome current problems.

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We (still) need to talk about mental health in the workplace

We (still) need to talk about mental health in the workplace

by • Comment, Wellbeing

In recent years we have made huge strides in moving discussions around mental health into the public arena. Celebrities such as Cara Delevingne, Ryan Reynolds, Gwyneth Paltrow and Brad Pitt have all come forward to share personal stories of their struggle with mental health problems.  The Duke and Duchess of Cambridge and Prince Harry have also championed mental health awareness through the Heads Together campaign, a charity that aims to help people feel more comfortable with their everyday mental wellbeing and offer practical tools to help support their friends and family. The campaign rose to prominence in the media as the 2017 Virgin Money London Marathon Charity of the Year.

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The mega trends that continue to reshape the workplace around the world

by • Events, Features, Property, Technology, Workplace design

Last week, over 600 workplace and property experts met in London at the CoreNet Global Summit 2017 to discuss some of the most important trends affecting the sector. The debates underlined one important fact about property and workplaces, which is how they are shaped by major, globalised events as much as they are local needs and the objectives of specific organisations. This quickly became evident on day one, which demonstrated how dramatic shifts in the geopolitical landscape, all of which are impacting corporate real estate – from America First to Brexit – remain key talking points for the industry. Opening speaker Linda Yueh (University of Oxford and London Business School) explored several possible scenarios, including how the focus of ‘Trumpism’ would have a significant effect on the U.S. role on the world stage, with the priority on the domestic economy leaving little scope for global trade. She also predicted that a ‘hard Brexit’, with no new trade deal with the EU, will be the most likely outcome for the UK’s withdrawal process; and that businesses will need to focus on alternative WTO rules as an urgent priority. Other impacting factors covered by Yueh included the rise of a dominant global middle class, and China’s need to rebalance its economic growth drivers.
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New analysis reveals shrinking pool of younger workers in the UK workforce

New analysis reveals shrinking pool of younger workers in the UK workforce

by • Legal news, News, Workplace

New analysis reveals shrinking pool of younger workers in the UK workforceAn increase in the number of UK-born employees leaving the UK’s workforce, either through retirement or emigration is coinciding with a shrinking pool of younger workers, which a fall in immigration can no longer fill, a new report warns. An analysis of the UK’s workforce showed that the UK’s workforce grew in 2016-2017 only because of an increase in EU and non-EU workers. Mercer’s Workforce Monitor showed that retirement, opting out (i.e. due to caring responsibilities) or emigration saw around 143,000 UK-born employees leave the UK workforce with the loss of workers only being offset by the entry of around 147,000 EU-born workers and around 232,000 Non-EU workers.  In sum, the UK’s workforce grew by an estimated 234,000 over 2016-2017. From Q1 2016 to Q1 2017, the number of workers over 50 in the UK economy grew by 230,000, the under 35’s grew by 50,000 while the number of workers aged 35-49 shrunk by 48,000. According to the analysis, if net migration into the UK levels off at 100,000 per year from 2020, the number of under 50s in the workforce will fall by 200,000 by 2025; the over 50s would increase by over 1 million while the number of under-25s in the population would fall by 100,000. This means apprentices and graduates numbers will be less.

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Tech and media firms dominate commercial property take up in the City so far this year

Tech and media firms dominate commercial property take up in the City so far this year 0

by • Cities, Facilities management, News, Property

Lacon House in the City fringeCompanies in the tech and media (TMT) sector have accounted for the greatest proportion of City take up so far this year new figures from Savills suggest. This is the largest amount of take up ever by this sector in the first five months of a year, representing a 20 percent share of the market, ahead of the professional services sector at 17 percent and insurance and financial services sector at 14 percent. TMF firms took 517,069 (48,036 sq m) of space out of a total of 2.25 million sq ft (208,699 sq m) to the end of May 2017. Key deals to complete in the City recently include visual effects company Industrial Light & Magic (owned by the Walt Disney Corporation) taking 47,010 sq ft (4,367 sq m) at Lacon House in the City fringe (Theobalds Road, WC1), joining other tech companies Argus and Exterion Media in the building.

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Serviced and coworking offices top London leasing market for the first time

Serviced and coworking offices top London leasing market for the first time 0

by • Coworking, Flexible working, News, Property

 Serviced and coworking office space providers have accounted for the largest share of space leased in Central London for the first time, according to new research from Cushman & Wakefield. During the first half of 2017, serviced office or co-working providers – such as WeWork and The Office Group – accounted for 884,235 sq ft of newly-leased office space in central London. The second quarter of the year in particular witnessed a dramatic escalation in activity by serviced office and co-working providers with 651,540 sq ft leased – around a quarter of central London’s take-up across April, May and June. This was more than London’s traditionally dominant occupational sub-sectors such as technology, media and financial services. The H1 2017 total is more than serviced office and coworking providers accounted for in the whole of 2016 (853,178 sq ft). and is just a deal or two shy of the sector’s average annual take-up between 2012 and 2016 (908,972). It seems certain therefore that serviced office and co-working providers will this year surpass their record annual volume of 1,267,926 sq ft set in 2014, according to the firm.

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Major global study identifies the priorities of students and their most favoured potential employers

Major global study identifies the priorities of students and their most favoured potential employers 0

by • News, Workplace

A new study of 290,000 students worldwide claims that the majority studying business, engineering and IT would prefer to work for medium sized businesses and that they have a very clear idea about the sort of employer they would like to work for. The World’s Most Attractive Employers (WMAE) study from employer branding consultancy Universum Global is now in its 9th year and draws on data from the world’s 12 largest economies to rank the companies students find most desirable for employment. Overall, the majority of students (74 percent) reported that they would prefer to work for a company with fewer than one thousand employees. A larger proportion of talent from Germany, France, and Brazil would prefer to work for larger employers, but overall talent in these markets also said they would prefer to work for smaller firms. For business and engineering / IT students in all countries excluding Russia, India and Germany, work/life balance remains the overall top career goal. Results reveal Russian students in both fields of study still prefer job security, while Indian students in both fields of study are far more interested in having an international career than they are in other career goals.

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