Search Results for: economy

First look at Sustainable Design China Summit taking place in Beijing this September

First look at Sustainable Design China Summit taking place in Beijing this September

Following on from its successful launch last year, the Sustainable Design China Summit returns for 2023.Following on from its successful launch last year, the Sustainable Design China Summit returns for 2023. The event, an evolution of Design China Beijing, is held at the Beijing Exhibition Center from 21-23 September 2023 and is a must-visit for designers, architects, developers, and decision makers looking to design a sustainable future. More →

Want to know what is really happening in the world of work? Don’t miss Workplace Trends

Want to know what is really happening in the world of work? Don’t miss Workplace Trends

The Workplace Trends Conference is a convergence of brilliant minds and an invaluable platform to explore the future of workIn the ever-evolving discussion around the landscape of work, one established industry event stands as a beacon of knowledge and innovation for workplace professionals: the Workplace Trends Conference. The 2023 conference on 18 October, in London and online, promises a day of enlightenment, inspiration, and connection that’s not to be missed. Workplace Insight is pleased to be a media partner for Workplace Trends Conferences. Our readers may claim a 20 percent discount on their ticket price by using promo code INSIGHT20 when registering at https://workplacetrends.co/events/wt23/ More →

Digital nomads are starting to price out local communities around the world

Digital nomads are starting to price out local communities around the world

Remote working: how a surge in digital nomads is pricing out local communities around the world. For eight years I have studied digital nomadism, the millennial trend for working remotely from anywhere around the world. I am often asked if digital nomads are driving gentrification. Before COVID upended the way we work, I would usually tell journalists that the numbers were too small for a definitive answer. Most digital nomads were travelling and working illegally on tourist visas. It was a niche phenomenon. Three years into the pandemic, however, I am no longer sure. More →

To boost productivity in the UK, we need to think big and different

To boost productivity in the UK, we need to think big and different

olicymakers, businesses, and society must recognise the importance of productivity and collaborate to implement the necessary reforms and initiatives to unlock the country's full economic potentialThe decline in UK productivity since the Great Recession of 2008/2009 has been a matter of concern for business leaders, policymakers, and economists alike. Despite hopes that the pandemic would act as a catalyst for transformation and boost productivity, recent figures from the Office for National Statistics (ONS) show that the UK still lags behind several other G7 economies. More →

Bolder strategy needed to boost productivity and economic growth

Bolder strategy needed to boost productivity and economic growth

The Government’s plan to transform the UK into a science and technology superpower will fail to boost living standards unless it’s linked to a broader industrial strategy aimed at raising productivity across all sectors of the economy.The Government’s plan to transform the UK into a science and technology superpower will fail to boost living standards unless it’s linked to a broader industrial strategy aimed at raising productivity across all sectors of the economy. This is the central conclusion of a new CIPD discussion paper, An industrial strategy for the everyday economy, which says a bolder vision for economic growth, looking across all sectors and areas of the economy, is needed considering the multiple challenges facing the UK. More →

Members of European Parliament back charter to ‘revolutionise workplace wellbeing’

Members of European Parliament back charter to ‘revolutionise workplace wellbeing’

The Future Workforce Alliance (FWA), a consortium of policymakers, researchers and firms such as Zoom and Remote, has launched the European Charter for Digital Workplace WellbeingMembers of the European Parliament have backed a new charter from a consortium of organisations that sets out to ‘revolutionise workforce policy’. The Future Workforce Alliance (FWA), a consortium of policymakers, researchers and firms such as Zoom and Remote, has launched the European Charter for Digital Workplace Wellbeing and claims that the step by MEPs signals the beginning of the life/work revolution and solidification of workers’ rights in the face of  what it refers to as ‘return to office lobbying’. More →

Over half a million people with long-term sickness want return to work

Over half a million people with long-term sickness want return to work

between January-December 2022, nearly a quarter (22 percent) of those forced out of the workplace because of long-term sickness said that they wanted a jobAnalysis of Office for National Statistics (ONS) data from consultants Broadstone, claims that between January-December 2022, nearly a quarter (22 percent) of those forced out of the workplace because of long-term sickness said that they wanted a job. With economic inactivity because of ill-health surging to 2.6 million people as per the latest estimates through February-April 2023, it suggests that over half a million people – around 560,000 – are keen to return to employment so long as they can improve their health. According to the firm, would be a major boost to the UK economy, employers struggling with staff shortages and employees grappling with the continued cost of living crisis. More →

Businesses need to take real action to create a more sustainable workplace

Businesses need to take real action to create a more sustainable workplace

What action is actually being taken, including in the creation of a sustainable workplace?For the last decade, if not longer, we’ve heard businesses saying they are focused on reducing their environmental impact. It’s been written in annual reports and immortalised in pledges shared with stakeholders, but the question still remains – what action is actually being taken, including in the creation of a sustainable workplace? 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.

People now less engaged, less fulfilled and more stressed in their working lives

People now less engaged, less fulfilled and more stressed in their working lives

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.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. The CIPD’s Good Work Index 2023 claims that most people like their work and find it satisfying. However, as many as 6-9 million workers, experience poor-quality work in some major respects. CIPD’s survey indicators show that there has been no significant improvement in job quality in the past four years and, in some respects, job quality has gone backwards. Compared to 2019, workers today are less enthused about work, less likely to perceive their work as useful and more likely to simply see work as purely transactional – simply for the money. More →

Getting back to the idea of a better future

Getting back to the idea of a better future

We may not be in control of what the future holds or able to predict it, but we should rediscover the hope that it will be better.  A recent edition of Jon Connell’s daily newsletter The Knowledge included this nugget: “Last month, I heard one of the world’s most successful fund managers admit that the charts and models he previously used “gave almost no clue” as to what to do with money now. (His one firm prediction, that the US dollar would weaken, has so far proved dead wrong.) Same with climate, with migration, with a business world about to be utterly transformed by AI. That, as much anything, will be one of the biggest questions of the coming years and decades: What do we do if we can’t predict the future?” More →

Artificial intelligence will boost short term headcount, claim half of employers

Artificial intelligence will boost short term headcount, claim half of employers

More than half (54 percent) of Britain’s employers expect Artificial Intelligence (AI) technologies will have a positive impact on their staff headcount over the next two yearsMore than half (54 percent) of Britain’s employers expect Artificial Intelligence (AI) technologies will have a positive impact on their staff headcount over the next two years, according to a survey by Experis, a part of ManpowerGroup.  The survey of 2,000+ British employers also suggests that more than two thirds (69 percent) of businesses expect AI tools and technologies – including ChatGPT, Machine Learning and Virtual Reality – to have a positive impact on upskilling and reskilling, as well as on employee training (68 percent). 67 percent of British organisations anticipate a positive impact on employee engagement because of AI technology, and 60 percent think it can positively impact the onboarding process too. More →