Search Results for: business

December 1, 2015

Regional office market takes off, with Bristol and Manchester in demand ⁰

by Sara Bean • Facilities management, News, Property

Demand for prime office space in key regional business hubs is strengthening, driven primarily by the professional services sector, according to a review of market trends in the UK property markets by Cushman & Wakefield. Manchester is the strongest performing regional office market, with several large transactions recently completed, but a number of other cities, such as Bristol, are also in hot demand. The Thames Valley, South East and West Midlands have been the strongest performing regions in 2015, and prime rents in the top office locations have reached new highs, with further growth forecast. While overall take up is being constrained, to a certain extent, by the lack of prime stock new commercial property developments are picking up as a result, but are still some way below what is required to meet demand levels and cities such as Glasgow, Manchester and Birmingham have all seen reductions in availability rates.

November 27, 2015

Built environment crucial to attaining emissions targets say RICS of COP21 ⁰

by Sara Bean • Environment, Facilities management, News, Property

The built environment has a vital role to play in helping governments meet their carbon dioxide (CO2) emissions targets says RICS – ahead of the 21st Conference of the Parties or COP21. This begins on Monday, when 196 governments meet in Paris for the climate change summit hosted by the United Nations. Buildings are some of the biggest emitters of CO2 accounting for one-third of global greenhouse gasses. Commercial and residential buildings also account for 40 percent of the world’s energy consumption. RICs is working with members in the land, real estate and construction sectors to find solutions across the property lifecycle to support more sustainable business practices, and will be in Paris to join stakeholders from governments, industry and civil society to support efforts to reach an agreement. The commitments made at the summit could have far-reaching repercussions for the built environment, and the global economy more generally.

November 27, 2015

Over a third of UK workers are miserable at work and most plan to leave ⁰

by Sara Bean • Facilities management, News, Workplace

Only 35 percent of UK workers are happy with their job, and over a third (39 percent) admit that they feel miserable at work. In a new survey by Workwear Express of over 1,000 people, just 14 percent said they planned to stay in their current job for the next year. This appears to be reflected in the amount of sickness they take, with 25 percent admitting that they’ve taken sick leave from work due to being so unhappy. Poor management was seen as the biggest contributor to an employee’s low sense of satisfaction at work, as just over 31 percent of those polled agreed that being badly managed was their biggest issue in the workplace. However, having a heavy workload was a close second, with 29 percent of people citing this as the reason for their unhappiness. A third (35 percent) of those polled said that Monday was the most miserable day of the week to work.

November 25, 2015

This might be the reason why firms are failing to fully engage their employees ⁰

by Matias Rodsevich • Comment, Knowledge, Technology, Workplace

One of the enduring quests organisations continue to undertake is that for the fully engaged employee. They do this for very good business reasons. Managers who understand the benefits of employee engagement can expect to reap the substantial benefits of a more collaborative work environment. In turn, this will lead to an engaging and productive workspace. However, in a majority of organisations, employee engagement remains lower than 35 percent. In light of this principle, Impraise has conducted a study based on over 30 000 feedback interactions between hundreds of managers and employees to see how they would differ from each other when asking for feedback. The results that were found resulted to be interesting and gave a better understanding of the how engaged employees are, and what firms can do to address the chronic levels of disengagement.

November 25, 2015

Northern Powerhouse office market showing strong performance levels ⁰

by Sara Bean • Facilities management, News, Property

When the Chancellor of the Exchequer George Osborne announces the Spending Review today, he’s likely to mention the Northern Powerhouse, the programme to rebalance the UK economy by pushing growth in England’s northern cities. His vision of this form of one nation conservatism may have helped to increase occupier and investor confidence across the Northern Powerhouse office markets, as illustrated by the Northern Powerhouse Office Market Report 2015/16, published by Lambert Smith Hampton (LSH). It shows strong performance across the eight key markets so far in 2015 – with combined take-up expected to reach 5.2m sq ft by the end of the year compared with 4.6m sq ft in 2014. Manchester city centre is leading the way and is on track for a record year, with almost 1.4m sq ft of office space expected to be let or sold by the end of 2015 – well above the 10-year annual average of 966,000 sq ft.

November 23, 2015

Two thirds of managers have little idea what their organisation’s strategy is ⁰

by Mark Eltringham • Facilities management, News, Workplace, Workplace design

While facilities and human resources managers continue to agonise over their lack of strategic influence, a new study from researchers at the London Business School and MIT confirms what cynics may have suspected all along; a significant number of senior managers don’t have any real idea what their organisation’s strategy is in the first place. According to the study of 11,000 senior executives and managers from 400 companies worldwide, only around a third of respondents were able to correctly identify their employer’s main strategic priorities. “We asked people to list their company’s top three to five priorities”, says Rebecca Homkes, a fellow of London Business School, who led the study. “Even with five tries, on average only around 50 per cent could list the same one priority and only a third can list their firm’s top three priorities. For firms to execute a strategy well, that strategy must be clearly communicated and understood throughout the organisation.”

November 23, 2015

The benefits of peeling back the layers of the workplace onion ⁰

by Darren Bilsborough • Comment, Flexible working, Technology, Workplace, Workplace design

The onion metaphor is normally used to describe the layers which must be peeled away to get to the all-important “core” of a problem or issue. The biggest question that is normally asked with respect to choosing office space based on the promise of improved productivity, is quantifying the value of the various initiatives that might be contemplated or proposed. I can’t help but think of how complex that question is due to the many “layers” there are to work through to get to a final quantifiable answer. In its most simple form the question of productivity in the workplace, is confined to how staff utilise their time to undertake the tasks or duties that correspond to expected output. But of course it is not only their use of time, but the environmental influences associated their environment, both in the workplace, its surroundings (the actual building and the precinct in which it is located) and their method of travel to the office.

November 20, 2015

Two thirds of employers disappointed in performance management process ⁰

by Sara Bean • Knowledge, News, Technology, Workplace

As the economy recovers and the so-called ‘war for talent’ increases, there is a renewed focus on performance management, with 87 percent of companies in the latest research from Towers Watson, saying it is their primary method for aligning individual performance objectives with strategic priorities. However, only a third (36 percent) of companies actually consider their performance management process to be effective, and one in three managers and employees are shown to be dissatisfied with their process. According to the survey, 45 percent say managers don’t see the value in it and 53 percent say managers don’t have the time to do it well. Under 10 percent of companies have scrapped performance management altogether, or plan to do so, and though 30 percent of companies are considering eliminating performance ratings or scores, just 7 percent have already taken the step to do this.

November 19, 2015

Dubai office market shows signs of cooling down over the next year ⁰

by Sara Bean • Facilities management, News, Property

The Dubai office market is showing signs of cooling, following a strong growth period, with average rents remaining unchanged during the first three quarters of 2015 across all the city’s major submarkets and free zones. Clutton’s Winter 2015/16 Dubai Commercial Market Outlook report revealed prime, secondary and tertiary office rents stand at AED 250 psf, AED 130 psf and AED 70 psf, respectively. However, micro-markets, which are often as small as specific buildings, buck wider trends, such as Emirates Towers (AED 310 psf) and The Gate District (AED 225 psf). Banks, financial institutions, law firms, construction companies and technology-media-telecoms (TMT) firms are the most active occupiers, with the city’s free zones remaining the primary target. This is because the free zones continue to be dominated by multinational organisations, with take-up activity intrinsically linked to business performance in their home markets.

November 19, 2015

Stalled career progression could prompt rise in employee turnover ⁰

by Sara Bean • News, Workplace

A lack of career opportunities is resulting in more people leaving their job and this increase in employee turnover is costing organisations thousands in lost productivity, finds a CEB survey of more than 12,000 employees worldwide. Traditional, linear career paths where employees climb the corporate ladder one promotion at a time are a thing of the past, but the resulting flat organisational structures mean employees spend more time at each level – roughly three more years than in 2010. This stalled progression has caused 70 percent of employees to be dissatisfied with their opportunities, leading to greater turnover. Rather than encouraging an environment where promotions are the measure of career progression, companies should build growth-based cultures where moves across functions are not only planned but encouraged says CEB. Doing so not only improves engagement but also helps improve the bottom line.

November 18, 2015

One in three high-earning and influential part time workers are men ⁰

by Sara Bean • Flexible working, News, Workplace

Three in four workers in Britain do not believe it is possible to have a successful part time career, yet new statistics by flexibility experts Timewise shows that there are now an estimated 680,000 workers who are working formally part time in the higher income bracket (earning a minimum of £40,000 full time equivalent). And of these, 230,000 are men and 450,000 are women. The figures were unveiled as part of the publication of the fourth Power Part Time List – in association with Management Today, which lists the UK’s top 50 men and women who work in senior, business-critical roles, all on less than full time hours. This includes a record number of men – 11 out of 50, including the highest number of male nominees since the list’s launch in 2012; including part-timers from businesses such as – Dixons Carphone plc, leading advertising agency AMV BBDO, famed architecture practice EPR Architects, the Bank of England and EY.

November 17, 2015

Employers get flexible as retirement age for baby boomers draws closer ⁰

by Sara Bean • Flexible working, News, Workplace

Nearly three quarters (74 percent) of finance directors are concerned that the skills gap resulting from widespread retirement of baby boomers will have a negative impact on their organisation over the next two years and an even higher proportion (77 percent) say that the departure of older workers will have a negative impact over the next five years. The new research from Robert Half UK reveals that UK employers are anticipating a significant skills gap when baby boomers retire over the next two to five years and are already taking steps to mitigate the risk. Baby boomers represent a bulge in the workforce that will soon be at retirement age so not only will employers need to consider the impact of the skills shortage that this mass-departure will create, but they will also have to accommodate different demands and expectations from younger Generation X and Y workers coming to replace them.