Search Results for: financial

Advancing accessibility and reaping the rewards of disability inclusion

Advancing accessibility and reaping the rewards of disability inclusion

two people talking to illustrate the growing number of disabled people in self-employment disability inclusionIn business, companies have a responsibility to balance profit-driven strategies with wider social commitments. As well as being the right thing to do, a focus on the latter can invariably drive economic value. Companies that prioritise diversity, for instance, earn 2.5 times higher cash flow, while inclusive teams are 35 percent more productive. As a result, diversity in the workforce is now widely accepted to be both a moral necessity and a commercial opportunity, with more and more corporates incorporating DE&I policies into their operational frameworks. Despite this progress, the disability community is still largely excluded from these discussions around inclusion.  More →

Rummaging through the workplace memory hole

Rummaging through the workplace memory hole

I recently whiled away an idle hour checking which of the more deranged pronouncements from the period of peak workplace hysteria in late 2020 have been memory holedtalking of Orwell, I recently whiled away an idle hour checking which of the more deranged pronouncements from the period of peak workplace hysteria in late 2020 have been memory holed. There was some weird, wild stuff, often coupled with a feverish response to anybody urging caution. At one point somebody (I know who but won’t say) suggested I should be banned from LinkedIn for pushing back on the idea that any firm that didn’t go fully remote would be out of business within five years. More →

Remote working and mental health: generational divide continues to manifest 

Remote working and mental health: generational divide continues to manifest 

A new study commissioned by Great Western Railway claims to reveal striking generational differences in attitudes towards remote working and its impact on mental healthA new study commissioned by Great Western Railway claims to reveal striking generational differences in attitudes towards remote working and its impact on mental health. The research, which explored the effects of remote working on different age groups, highlights a growing concern regarding the isolation experienced by older employees compared to their younger counterparts. More →

‘People insight deficit’ puts firms’ reputations at risk

‘People insight deficit’ puts firms’ reputations at risk

New research from the CIPD exploring the quality of UK working lives suggests there has been a negative shift in how people think about and value their work. People insightThe CIPD is urging business leaders to have board-level HR representation or input to ensure there is the necessary expertise and ‘people insight’ to develop positive corporate cultures and manage workforce risks such as sexual harassment. This is the unsurprising message in a new report from the CIPD ‘The value of people expertise on corporate boards’. It claims just a quarter (25 percent) of FTSE 350 firms have a board member (both executive and non-executive) with an HR background, while only 2 percent have an HR director as an executive board member. More →

UK government plans to parachute AI experts into departments to ‘turbocharge’ productivity

UK government plans to parachute AI experts into departments to ‘turbocharge’ productivity

So-called 'digital gurus' from the private sector will be 'parachuted' into government departments as part of radical plans to 'turbocharge' the technological and AI skills of civil servantsSo-called ‘digital gurus’ from the private sector will be ‘parachuted’ into government departments as part of radical plans to ‘turbocharge’ the technological skills of civil servants, Cabinet Office Minister Jeremy Quin has announced. Delivering a speech at the think tank Policy Exchange, Minister Quin set out a number of measures which he claims will drive forward the government’s plans to harness innovation and technology including AI to make Whitehall run more efficiently.

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Help over-50s and other groups into self-employment to boost economy, say MPs

Help over-50s and other groups into self-employment to boost economy, say MPs

a new scheme developed to encourage people to set up their own businesses and move into self-employmentThe UK Government’s Work and Pensions Committee has called for more employment support to address economic inactivity. The support for helping people into work should be widened to those not on benefits, with a new scheme developed to encourage people to set up their own businesses and move into self-employment. The Committee has also called for more focus to be given to measures to help young people, the over 50s and people with disabilities and long-term health conditions find and stay in work. More →

We need better evidence to help protect people at work

We need better evidence to help protect people at work

Understanding what works to protect people at work needs better use of evidenceWe make decisions at work every day and for those in complex roles or in fast-changing situations, it can feel like a continuous process. In business, of course, the choices we make can have a significant impact on the bottom line and, more importantly, our people, the environment and the communities we’re operating in. With so much riding on what we choose to do, our decision-making processes must be designed to maximise our chances of successful outcomes. This is especially so when our decisions involve how to protect people at work so can be literally a matter of life or death. More →

Most UK workers now expect to retire at 62 years old

Most UK workers now expect to retire at 62 years old

A new poll of people aged between 35 and 55 suggests that most workers expect to retire at around 62 years old, four years earlier than the UK state pension age of 66.  The report called Providing for tomorrow today: understanding an ageing workforce was commissioned by law firm Osborne Clarke.  It surveyed employees aged 35-55 working in seven industry sectors across the UK. The report claims to identify workers’ current and future employment and retirement expectations and the impact these may have, not only on the shape of the future UK workforce, but also on employers in the industry sectors surveyed. More →

All we are saying is give lease a chance

All we are saying is give lease a chance

The lease of office fit-out elements looks like a no-brainer for a number of reasons. But is the sector ready to embrace them?By their very nature, trends come and go. What we are now seeing with sustainable, responsible product and material sourcing goes way beyond trend or fad, of course, and in recent discussions we’ve had (and we’ve had quite a few) on the subject, the question of furniture as a service or a furniture lease model has arisen on a number of occasions. So often, in fact, that we decided we should look deeper into the subject, to ascertain its pros (and cons) and to decipher whether this is merely a hypothetical – certainly at any large scale – that the industry would like to adopt or is a very real here and now. More →

Two in five people are working extra hours as cost-of-living crisis bites

Two in five people are working extra hours as cost-of-living crisis bites

A new poll suggests that the continuing cost-of-living crisis is now affecting a greater proportion of employeesA new poll suggests that the continuing cost-of-living crisis is now affecting a greater proportion of employees, with more people working extra hours, more struggling to buy food or pay their bills, and fewer being able to afford to take sick days, compared to mid-2022. HR software provider Ciphr surveyed 1,000 employees across the UK about their experiences of rising living costs in 2023, and any actions they’ve taken, or have considered taking, because of financial pressures. More →

City dwellers take advantage of hybrid working to relocate to suburbs, towns and countryside

City dwellers take advantage of hybrid working to relocate to suburbs, towns and countryside

A new report claims that suburbs and small towns across are booming, as people take advantage of hybrid working to migrate from larger citiesA new report from IWG claims that suburbs, small towns and rural areas across the US and UK are booming, as people take advantage of hybrid working to migrate from larger cities. The study, undertaken in partnership with Arup, suggests that an estimated 500,000 people will leave US cities this year – 59 percent higher than pre-2020 levels – with most moving to suburbs, revitalised former dormitory towns and rural areas. Similarly, outbound migration across the UK is continuing at a faster rate than pre-pandemic levels, and there is strong evidence that suburbs and small towns have higher levels of economic activity than before 2020. More →

Embrace the chaos: the office must find a new purpose, conference concludes

Embrace the chaos: the office must find a new purpose, conference concludes

The British Council for Offices (BCO) annual conference, this year hosted in Dublin, addressed the purpose of the office in the context of the evolving world of work

What is the purpose of the office? That was the central question at this year’s British Council for Offices (BCO) conference which took place in Dublin. A big ask.

Nonetheless, the speakers and delegates that arrived in Dublin were up for the task. In the opening address, BCO senior VP & conference chair Despina Katsikakis promised delegates the conference would explore and untangle the intricate elements of the ecosystem that must seamlessly merge tech-led work, play and… well, survival. The focus of the two-day event (or three for those who like golf) was to devise strategies to design, build and manage vibrant and inspiring workplaces that foster the wellbeing and advancement of the individuals and communities they serve, all while promoting social, economic, and environmental sustainability.

As one would perhaps expect from a BCO conference, several speakers made a case for the office, including Davina Saint, director of the Irish National Assets Management Agency. Nobody relates naturally with screens or virtual protocols, she said, so we need to embrace the idea of social capital: “It makes organisations go around,” she said. “It’s the electricity in the machine. The shift to remote working has dented social capital. There’s less connection and more isolation. Productivity and innovation have also taken a dive.”

“I believe strongly in the office,” said Niall Gaffney, CEO of Ireland’s largest office landlord IPUT, during the developer’s panel. Fellow panellist Kevin Nowlan, senior advisor to Hibernia Real Estate Group, agreed: “Culture and life comes from people being and working together.” The workplace will play a key role in reinventing cities, they chimed in unison. Why? “Because the office is where the magic and inspiration happen,” Saint said. “It’s where the social heart of an organisation can beat.”

[perfectpullquote align=”right” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]As the audience were reminded throughout the conference, many people meet their partners at work[/perfectpullquote]

But it goes beyond business. As the audience were reminded throughout the conference, many people meet their partners at work. If marriages are born out of proximity rather than heaven, perhaps that means there will be fewer weddings, fewer children. That musing may well prompt a shrug in response but it’s worth noting there’s already a dwindling workforce. Yes, borders are clamping shut, but it may also be because people aren’t having children as often as they used to. Last year, the Financial Times, citing Office for National Statistics data, revealed that the “natural population of the UK will begin to decline by the middle of the decade, leaving the country dependent on migration to increase the working-age population”. But freedom of movement is not so free anymore. Dublin, we have a problem.

 

Stupid cupid

While it might not be up to workplace professionals to channel their inner cupids, you can bet your bottom dollar the population crisis will be on future BCO conference agendas. Until then, however, there’s a more relatable challenge in play. The industry needs to focus on the role of the office in a rapidly changing world. Bill Hughes, global head of real assets at Legal & General Investment Management, looked at the old and new definitions of an office. The traditional definition is “a room or set of rooms in which business, professional duties, clerical work are carried out”. Today, it’s where important face-to-face interactions and teamwork happens. It’s where culture is built. “It’s where knowledge transfer and learning through osmosis occurs,” Hughes said. “It’s about energy and having fun.”

[perfectpullquote align=”right” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]The future of the world of work is an obsession for bosses[/perfectpullquote]

“The future of the world of work is an obsession for my bosses,” the BBC journalist Simon Jack said, during the ‘business of politics’ discussion. “Because it “affects the lives and livelihoods of our audience.” And that’s perhaps why there’s so much focus on the employee experience. Billions have been spent on the customer experience. Many of the speakers stressed that it’s time we do the same with the employee experience.

In a session on the purpose of place, Andy McBain, head of future of workspace & design at NatWest, shared that the bank’s workplace strategy focuses on experience, events and an element of experimentation. But experience can’t be a fluffy add-on, he suggested. It must be measured and tracked if it’s to evolve and deliver ultimate impact. To that end, McBain’s team uses Audiem, an advanced employee feedback analytics tool, that allows heads of real estate not only to get the flagship quantitative scores that they need to track and manage performance but also dive deep into the qualitative data, helping them understand the drivers behind satisfaction at a granular level. “It’s allowing us to develop specific approaches we know directly addresses employee concerns because we can see what they’ve said about it and how it’s affecting them,” said McBain.

Vernon Blunt, head of global workplace operations at Ericsson, and Paul Casey, global real estate EMEA director at IBM, agreed that hybrid is here to stay, though the jury’s out when it comes to the effectiveness of mandates. While employee experience remains the focus, cost-cutting is coming to the fore because for the CFO must be kept as happy as the CPO. It’s a cost and experience juggling exercise. There also seems to be less focus on how to get people back to the office, but more energy going into how to self-organise around the busy days.

These occupiers want and demand more flexibility and shorter leases. Rob Harris of Ramidus Consulting urged that contract and service level agreements need to change to become more flexible, especially for SMEs who he called the “growth engine of the economy”. There’s also a recognition that there might be too much space. Avison Young’s Nick Axford highlighted that one third of office space could be re-used for community initiatives, but the infrastructure isn’t yet there to make this happen. Also calling for a systemic transition was Indy Johar, co-founder of Architecture 00. “Forget about building new workplaces, we need to build a new UK,” he said.

The conference delved into workplace design, management and communication principles that foster culture, health and wellness, and collaboration. During various sessions, speakers and attendees examined the strategies employed by occupiers in their quest to navigate the challenges of the present and forge a path towards a better future. We have a long way to go on that front, but the will is there.