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Flexible office space provider LABS on why the physical office space is still strategically key

Flexible office space provider LABS on why the physical office space is still strategically key

A recent survey conducted among LABS members shows that the physical office space still has a valuable place in the mindset of how they want to work. More than seven in ten of those questioned said the office is a strategic device for their businesses, and more than 74 percent of members questioned use the office for two days or more per week.

However, working culture is still developing rapidly following the pandemic and its government-mandated full time working-from-home set up, with employers and employees carefully navigating a path that tees up with company expectations as well as staff’s desire to work remotely for part of the week, which in some cases allows them to better deal with issues such as child or elder care or just attain a better work/life balance. Companies are clearly grappling with the complexities of managing diverse teams with varying needs and preferences. The seniority of employees and their distinct working styles play a crucial role in determining the feasibility and desirability of remote work.

While the Office for National Statistics reveals that 40 percent of civil servants in the UK are still working from home there is a definite flip side in the private sector. In the spring of this year, Bloomberg reported that, following a large-scale layoff programme in the tech sector, Meta CEO Mark Zuckerberg has asked its staff to “find more opportunities to work with your colleagues in person.” This is the latest in a long line of high-profile firms to reverse their work-from-home policies including Starbucks and Walt Disney Co. Other firms in the pro-return to the office camp include Goldman Sachs, Morgan Stanley, Apple, and Peloton with the CEO of JP Morgan stating that he doesn’t believe working from home works for managers or younger members of staff. Bloomberg itself has set a minimum presence in the office of three days per week.

Amazon too has a thrice weekly attendance policy which kicked in last month in light of CEO Andy Jassy saying on the firm’s blog that “There is something about being face-to-face with somebody, looking them in the eye and seeing they’re fully immersed in whatever you’re discussing that bonds people together.” General Motors’ management shares Amazon’s three days per week requirement which came into force at the beginning of 2023, which some staff took as a U-turn in company policy from encouraging colleagues to ‘Work Appropriately’.

 

Making the office the destination of choice

As well as incentives such as free food and drinks, access to facilities including gyms and opportunities to come together at work socials, the chairman of PwC believes that AI has its part to play in luring people from their home offices. The Times recently reported that Kevin Ellis thinks that as people feel pressure from the capabilities of the likes of Chat GPT, they are more likely to want to be in the office near colleagues they can collaborate and learn from.

In a company-wide presentation, the professional services giant explained to staff how AI has the potential to fast-track trainees by a couple of years but with that accelerated knowledge base comes a responsibility to be able to coach and manage others that traditionally would have taken place over a longer period. Ellis said at the time that “people are going to want to learn from others face-to-face and the best way a human can differentiate themselves from a robot is in person.”

It’s fair to say then that the mood may well be shifting from the ‘work from anywhere’ easy come easy go attitudes of 2021 and last year. As companies continue to navigate the choppy waters of political unease in Ukraine, the continuing impact of Brexit and the worldwide inflation rates not to mention the global cost of living crisis so they are increasingly calling for near full-time attendance, symbolising a return to pre-pandemic norms, to stay competitive.

Being present in the office has many well-documented advantages such as fostering creativity, encouraging and engendering a sense of culture. And there are positive signs among LABS members too, with over three quarters of them enjoying working from the office most of the time with over half citing colleague relationships as the most important aspect of an office, up by 4 percent year on year.

Given the aforementioned global political uncertainty and economic strife, flexibility and choice for occupiers as well as employees are key components of our current work culture. In this way, workplace strategies can easily shift to address sudden changes. Which is where LABS’ turnkey solutions, available in various shapes and sizes, come in with flexible tenancy arrangements and inspiring amenities. In this way LABS can help optimise a workplace model that works for everyone.

Evening Standard SME XPO celebrates new, small and growing businesses

Evening Standard SME XPO celebrates new, small and growing businesses

Building on the success of its launch event, the Evening Standard’s SME XPO 25-26 April 2023 at ExCeL London, once again invites founders, entrepreneurs and business leaders to attend an action-filled two-day programme and exhibition connecting the scaleup community, a vital part of the UK economy. SME XPO has established itself as the UK’s leading event dedicated entirely to ambitious SME founders and decision-makers who are looking to scaleup. The event will appeal to a wide variety of industries from micro businesses to medium and large SMEs, welcoming 4000+ owners, showcasing over 60+ speakers. More →

New study will explore the impact of economic turmoil on workplace experience

New study will explore the impact of economic turmoil on workplace experience

eople's workplace experience in the wake of recent economic upheavals is to be investigated as part of a major new survey led by Cardiff UniversityPeople’s workplace experience in the wake of recent economic upheavals is to be investigated as part of a major new survey led by Cardiff University and funded mainly by the Economic and Social Research Council (ESRC). The Skills and Employment Survey 2023 (SES2023), which also involves researchers at UCL, the Universities of Oxford and Surrey and the National Centre for Social Research, will help academics assess the impact of an extraordinary period of turbulence for workers which includes the economic downturn, Cost-of-Living Crisis, Covid-19 and Brexit. More →

Skills gap is the most prominent hiring challenge facing HR leaders

Skills gap is the most prominent hiring challenge facing HR leaders

skills gapNew research from ECI Partners, a private equity firm, suggests that HR leaders believe the most prominent hiring challenge they currently face is a lack of technical skills and knowledge. Nearly a fifth (18.3 percent) of managers said this was their single biggest obstacle, highlighting the growing concern over the UK’s skills gap. The current labour shortages prompted by a range of factors including Brexit and Covid-19, appear to have further widened the skills gap for recruiters. More →

Skills shortages lead to fall in wellbeing,  increased workload and decreased profitability 

Skills shortages lead to fall in wellbeing,  increased workload and decreased profitability 

wellbeingAccording to The Open University’s Business Barometer 2022 report, published in partnership with the British Chambers of Commerce, UK organisations are experiencing the knock-on effect of ongoing skills shortages, as more than three quarters (78 percent) report seeing reduced output, profitability or growth. The Open University’s annual report which sets out to provide an overview of UK skills , also highlighted the effect the skills shortage seems to be having on morale and wellbeing, as almost three-quarters (72 percent) of organisations say the impact increases workload on other staff. More →

UK is third most attractive place to work in Europe

UK is third most attractive place to work in Europe

most attractive place to workThe UK is the third most attractive place to work in Europe and experienced a stronger “brain-gain” than other major economies, according to a report from job site Indeed. It analysed nearly one billion data points including more than 800 million cross-border job searches and over 100 million job postings and found that cross-border searches by European jobseekers are up 13 percent from their pandemic low of -32 percent.   At the same time, Europe has become increasingly popular to jobseekers outside of the continent: inbound searches from jobseekers based outside Europe are a staggering 38 percent above the 2017-19 average, up from the pandemic low of -31 percent. More →

Despite low productivity, UK firms still don’t look for ways to improve on past performance

Despite low productivity, UK firms still don’t look for ways to improve on past performance

low productivity

Despite the UK’s persistent low productivity, less than a fifth of business owners are actively looking back at projects to identify areas for improvement. A large proportion of business owners (65 per cent) and senior managers (82 per cent) have increased their use of project-based methods on everyday tasks, such as introducing measures to identify and manage risk. Despite this, many are still failing to assign enough dedicated project managers to the work. New research from the Association for Project Management (APM)  claims that only 35 per cent of senior managers who participated in the survey regularly assign dedicated project managers to tasks, and only a quarter for business owners. More →

Why the over 50s are leaving the workforce in huge numbers

Why the over 50s are leaving the workforce in huge numbers

over 50s leaving workThe UK economy has a problem with its over 50s: following the COVID pandemic, they have been leaving the labour force en masse, causing headaches for businesses and the government. Roughly 300,000 more workers aged between 50 and 65 are now “economically inactive” than before the pandemic, leading a tabloid paper to dub the problem the “silver exodus”. Being economically inactive means that these older workers are neither employed nor looking for a job. Of course, it could simply be that workers saved more during the pandemic and can now afford to retire in comfort earlier than planned. More →

Who watches the workplace watchmen?

Who watches the workplace watchmen?

an eye on the workplaceOne of the world’s best known and most enduring foundational psychological experiments does not appear to be as clear cut as we commonly think. It was back in 1961 that a team led by the American psychologist Stanley Milgram asked a number of ordinary people to administer what they believed to be increasingly high levels of electric shocks to a person in another room while listening to their responses. More →

Critical industries at risk of collapse as people shun key worker jobs

Critical industries at risk of collapse as people shun key worker jobs

critical industriesSectors critical to putting food on the table and looking after the health of people are on a cliff edge as working age adults shun many of the essential jobs in critical industries that keep the UK running – from food production and logistics to health and social care. That’s according to new research from skills development organisation, City & Guilds. The research finds that despite key workers seeing the nation through the pandemic, the UK’s most vital industries are being threatened by growing skills shortages, as poor reputations and concerns about low pay turn off potential new recruits. More →

Risk of job losses has been falling for years, but at a price

Risk of job losses has been falling for years, but at a price

job lossesDecades of declining change in the UK labour market has reduced the risk of damaging job losses, but also limited opportunities for pay-enhancing job moves, according to new research published by the Resolution Foundation for The Economy 2030 Inquiry. More →

Drawing on internal skills can help firms cope with Great Resignation

Drawing on internal skills can help firms cope with Great Resignation

internal skillsThe UK’s workforce is undergoing rapid transformation as employees’ expectations and motivations radically change. The impact of Brexit, COVID-19 and long periods of furlough have created a tidal wave of resignations across every industry. Workers are re-thinking career paths, work conditions and long-term goals after a turbulent 18 months; with one study finding that 38 percent of people are looking to change roles in the new year.  More →