Search Results for: financial services

Financial centres in UK cities outside London are set to suffer most from Brexit

by • Cities, News

Although news reports about the impact of Brexit on the UK’s financial services sector have focused almost exclusively on London, a new report from the Centre for Cities claims that the decision to leave the EU will have a disproportionately larger impact on the centres in the UK’s other major cities, which employ two thirds of all people in the sector. The report explores the financial and professional services sectors in cities across the UK, and looks at what the relationships are with London-based firms in these industries. The report by the think tank supported by the City of London Corporation London: The geography of financial services in the capital and beyond looks at how much individual cities across the UK export in services, and what proportion of these services exports came from the financial sector.

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Occupational health services can benefit organisations and booster economy says report

Occupational health services can benefit organisations and booster economy says report

by • Facilities management, News, Wellbeing

Occupational health services can benefit organisations and booster economy says reportIt can be proven that a well implemented Occupational Health service can offer a good return on investment, finds a new report. A white paper, produced by the Society of Occupational Medicine (SOM), the International SOS Foundation and KU Leuven University, “Occupational Health: the Global Value and Evidence”, discusses the value of OH from a global perspective and provides a synthesis of global evidence on the effectiveness of OH interventions and cost effectiveness. With fatal and non-fatal work-related injuries and illnesses worldwide equating to a cost of approximately €2680 billion, equivalent to 4 percent of the global GDP or the entire GDP of Great Britain organisations, their workforce, and society have to bear a substantial cost. The paper demonstrates that Occupational Health services bring value by improving the health of the working population; contributing to the prevention of work-related illnesses; preventing avoidable sickness absence through the provision of early interventions for those who develop a health condition; and increasing the efficiency and productivity of organisations. They can also play a major part in protecting and revitalising the global economy.

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Financial companies learning to better utilise office space to attract right talent

Financial companies learning to better utilise office space to attract right talent

by • Flexible working, News, Property, Workplace, Workplace design

Nasdaq offices in PhiladelphiaFinancial services organisations are reducing the amount of commercial office space they require as they adopt more flexible work styles. This is according to a new report from HOK’s US team, The New Financial Workplace, an investigation into the threats and challenges facing the financial services industry, with a special focus on how new technologies like cryptocurrency, biometrics and blockchain are disrupting the sector. Financial services companies are being challenged by the emerging fintech industry, says the report, which is projected to grow to $8 billion in 2018. These traditional companies must adopt the cultures and workplace design practices of the technology industry to stay ahead.

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Commercial property lenders should drive sustainability through financial innovation

Commercial property lenders should drive sustainability through financial innovation 0

by • Environment, News, Property

The commercial real estate finance sector is witnessing a dramatic shift in attitudes towards the issue of sustainability, according to a new report from the Better Buildings Partnership. It claims that major commercial property lenders are already exploring new opportunities that go well beyond traditional risk management through sustainability initiatives that ‘drive new business, strengthen customer relationships and improve the data they hold on the buildings in which they have underwritten’. The report, Beyond Risk Management: How sustainability is driving innovation in commercial real estate finance, is sponsored by CREFC Europe, GeoPhy, ING Bank and Lloyds Bank Commercial Banking, and claims to reveal pioneering examples of how lenders are incorporating sustainability into their core business activities.

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Triple threat to worker wellbeing is financial, mental and physical

Triple threat to worker wellbeing is financial, mental and physical 0

by • News, Wellbeing, Workplace

Triple threat to worker wellbeingWorkers are under siege from a triple threat to their wellbeing, often dealing with a combination of financial, mental and physical health problems. Research from AXA PPP healthcare claims that over half (52 per cent) of nearly 2,500 workers polled had faced financial difficulties, while around a third say they’ve lived with mental ill health (36 per cent) or had problems with their physical health (30 per cent). Most workers (81 per cent) say that, when they’ve experienced difficulties with their mental health, their physical health has suffered too, while over half (52 per cent) admit that their finances have been adversely affected. Similarly, when facing problems with their physical health, 71 per cent say that they’ve also experienced difficulties with their mental health, while 40 per cent report that their finances have taken a turn for the worse. A sizeable proportion of employees who’ve had financial difficulties say that their mental health (76 per cent) and physical health (50 per cent) have also been adversely affected.

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Financial sector is rationalising real estate to remain in London

Financial sector is rationalising real estate to remain in London 0

by • Cities, Facilities management, Property

City of London real estateA relentless drive to cut costs is forcing financial services occupiers to focus on reducing real estate costs and adopting strategies to use their space more efficiently in Central London. According to research from CBRE there has been an ongoing move by big banks to relocate non-core functions outside of Central London, as seen in HSBC’s decision to move 1,000 head office staff from London to Birmingham. However despite the inherent challenges, banks continue to cite client needs, recruitment, profile and presence as key reasons to keep office space in the Capital. This is reflected in last year’s leasing figures with banking and finance occupiers leasing 3.2m sq ft, 4.9 percent above the 10-year average. There are a variety of compromises companies may make as part of rationalisation strategies to maintain their position in London. Consolidation is an ongoing trend. But it is not a one size fits all approach.

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Potential of AI is putting a smile on the faces of optimistic CEOs

Potential of AI is putting a smile on the faces of optimistic CEOs

by • Business, News, Technology

CEOs are embracing artificial intelligence (AI) and investing in reskilling their people to ensure they have the capabilities to successfully exploit new technologies. The CEOs of the world’s largest companies are increasingly optimistic about future growth, with 66 percent highly positive about the global outlook over the next three to five years. This is the headline finding of the second annual Arthur D. Little (ADL) CEO Insights Study, which was launched today. The study found that whatever their strategy or sector, global CEOs are increasing their growth investments. Artificial intelligence (AI) is seen as crucial to growth, with 96 percent of CEOs having already deployed AI in some form, although, demonstrating the early stages of its adoption, just 13 percent have a compelling, enterprise-wide AI strategy in place. More →

We need to talk about loneliness

We need to talk about loneliness

by • Company news, Wellbeing

From a business perspective, loneliness can be something that is often overlooked, particularly with the growing trend of hybrid workingLast year the World Health Organization (WHO) declared that loneliness is a pressing global health threat. Research has shown that it poses the same health risk as 15 cigarettes a day. According to the ONS, between January and February 2024, one in four adults in the UK reported feeling lonely. The government estimates the cost of severe loneliness per person is roughly £10,000 per year as a result of its impact on wellbeing, health and productivity. From a business perspective, this issue can be something that is often overlooked, particularly with the growing trend of hybrid working. In a connected workplace, employees feel valued, supported, and motivated to contribute their best. More →

Employers ‘toughen’ remote working rules 

Employers ‘toughen’ remote working rules 

by • Flexible working, News

Employers are toughening up remote working rules according to a new poll Randstad UK. Three in every five workers in the UK say that, in the past few months, their employer has become stricterEmployers are ‘toughening’ up remote working rules according to a new poll from Randstad UK. Three in every five workers in the UK say that, in the past few months, their employer has become stricter about making staff come into the office. In a survey of 2,000 workers across the UK, 60 per cent agreed with the statement: “In the past few months, my employer has become stricter about making sure staff come into the office.” But the research claims that cutting remote working options may prove counterproductive for organisations. More →

Club Employés and Weavr partner to give people more choice and control over employee benefits

Club Employés and Weavr partner to give people more choice and control over employee benefits

by • Company news

European employee benefits platform, Club Employés, has partnered with embedded finance specialists, Weavr, to power a debit card solution for employee benefitsEuropean employee benefits platform, Club Employés, has partnered with embedded finance specialists, Weavr, to power a debit card solution for employee benefits, which gives employees the power to pick the perks they prefer. By expanding access to relevant benefits through the capabilities of embedded finance, employees are more likely to engage with the benefits provided by their employers. More →

People spending more time in offices in search of social interaction

People spending more time in offices in search of social interaction

by • Flexible working, News, Wellbeing

Office workers now spend more time in the office, with the average creeping up to three and a half days per week compared to three days in 2022, according to a new report from international law firm, Gowling WLG. The report, titled Strategic moves: why the office is now a business-critical decision [registration], surveyed senior representatives responsible for making office lease decisions in companies, and a selection of office workers. It identifies that a more permanent approach to office usage is now emerging, as the shadow of the pandemic recedes, as well as demonstrating the changing metrics being applied by occupiers to decisions relating to premises requirements and the more complex environment for landlord asset management. More →

Canary in the coal mine: other business districts are watching what happens next for Canary Wharf

Canary in the coal mine: other business districts are watching what happens next for Canary Wharf

by • Cities, Features, IN Magazine, Property

Already the symbol of a bygone era, Canary Wharf runs the risk of becoming a relic unless it reinvents itself. And others are watching The first casualties of the already cliched injunction to make offices worth the commute were always going to be the world’s most inaccessible business districts. In the UK the most high profile of these is Canary Wharf, 52 hectares of former wasteland in East London that became a financial powerhouse. Part of the regeneration of the area that began in the 1980s, it became synonymous with the era and with Margaret Thatcher and her reform of the financial services sector. This came to pass even though its most iconic structure One Canada Square was only completed in 1990, shortly after she had left office and shortly before its developer filed for bankruptcy. More →

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