Search Results for: business

July 27, 2015

Coworking juggernaut WeWork announces plans to dominate London

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

Earlier this month, US based coworking juggernaut WeWork announced that it had opened the UK’s largest space of its kind in Moorgate in East London. Now, according to a report in the journal CoStar, the firm is looking to become a major tenant in the commercial property market in London in the same way that it has come to dominate Manhattan. According to the report, WeWork is looking to acquire over 1 million sq. ft. of space in the capital over the next 18 months as it seeks to provide coworking space for its growing customer base of young creative and technology businesses and other start ups. If it succeeds in finding the space it wants, the firm will have quadrupled the commercial property it occupies in London to 1.5 million sq. ft. WeWork is already Manhattan’s largest tenant and is now valued at $10 billion, having started in 2010.

July 24, 2015

Growth in demand for scarce office space will lead to rents rise

by Sara Bean • Facilities management, News, Property

Demand from business for commercial property rose for the eleventh consecutive quarter, while available space fell for the ninth successive period, according to the latest RICS Commercial Market Survey. As a result, rents are expected to rise at the fastest pace since the survey began in 1998 with 46 percent more respondents forecasting higher, rather than lower, rent rates going forward. Offices remain the segment of the market where rental expectations remain most buoyant, while retail continues to lag, although even in this area, momentum is picking up. Across the whole of the UK, but excluding the capital, 95 percent of respondents believe that current commercial market valuations are either at or below fair value (roughly unchanged since Q1 2015). However, in London 50 percent of contributors now feel that commercial office space valuations are ‘expensive’ – an increase from 45 percent in the first quarter of this year.

July 22, 2015

Workers of all ages want employers that commit to digital progress

by Sara Bean • News, Technology, Workplace

Employees across all age groups want to work for businesses committed to digital progress, and companies that are slow to embrace digital technology will not thrive and are more likely to lose talent, according to a new global report. Strategy, Not Technology, Drives Digital Transformation from MIT Sloan Management Review and Deloitte Digital is based on findings from the fourth annual global survey of more than 4,800 business executives across 27 industries and 129 countries. It suggests the ability to digitally transform and reimagine a business is determined in large part by establishing a clear digital strategy, supported by leaders who foster a culture that can change and reinvent their organizations. People want to work for digitally maturing organizations, with nearly 80 percent of respondents preferring to work for a digitally enabled company or digital leader. This sentiment crossed all age groups nearly equally, from 22 to 60.

July 21, 2015

Neocon highlights four of the world’s most important office design trends

by Neil Franklin • Comment, Events, Workplace design

We live in the Global Village, Marshall McLuhan’s idea from 1962 of an electronically contracted world in which attitudes, cultures and our political, business and legislative framework begin to pull together. Yet each nation is shaped by little differences. That is why the comedy programme The Office found an audience on both sides of the pond, but one that needed Wernham Hogg in Slough to become Dunder Mifflin in Scranton, Pennsylvania for it to work for the local audience. The central idea of the show has a universal appeal but needs a local voice. And what is true for The Office with a big O is also true for the office with a small o. This was the takeaway conclusion of a series of events staged in London and Manchester last week by Milliken and Humanscale. The touchstone for these events was a debate about the main conclusions of of June’s Neocon.

July 20, 2015

Government urged to reinstate zero carbon buildings pledge

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

More than 200 businesses from the construction, property and renewable energy industries have written to the Chancellor to reconsider the Government’s decision last week to abandon plans to introduce zero carbon buildings. In an open letter to the Chancellor, senior leaders from 246 organisations warn that the policy U-turn has “undermined industry confidence in Government” and will “curtail investment in British innovation and manufacturing”. In the Chancellor’s productivity plan “Fixing the foundations”, George Osborne unexpectedly axed the policy designed to ensure that all new homes built from 2016 meet zero carbon standards – together with a sister policy that applied to all new non-residential buildings such as offices, schools and hospitals from 2019.

July 20, 2015

Majority of women do not feel they are discriminated against at work

by Mark Eltringham • Flexible working, News, Workplace

The overwhelming majority of women do not feel they face discrimination at work, according to a new report based on data from 170,000 UK workers. However, the study from the Great Place to Work Institute does identify a number of challenges that women face at work. The report – Women at work. Is it still a man’s world? – highlights the need for employers to pay closer attention to the specific differences between men and women’s experiences at work, rather than just focusing on overall results. The authors suggest that ‘this will help to identify and address any inequalities such as making pay and promotions more transparent and ensuring policies and practices are gender and age relevant’. The study makes clear that it is the combination of age and gender that presents the greatest challenges, especially in ensuring diversity in senior roles.

July 17, 2015

Quarter of workers want flexible contracts when they reach retirement age

by Sara Bean • Flexible working, Legal news, News, Workplace

A quarter (28 percent) of UK workers expect their employer to create a part-time or flexible role for them once they reach the state pension age, according to new research from Aegon. Workers in healthcare (40 percent) administrative (31 percent) and engineering and manufacturing sectors (32 percent) are most likely to expect their employer to create a flexible role for them, while those in the creative arts and design sector (32 percent) are more likely to become self-employed and start up their own business. Nearly two thirds (61 percent) are planning to carry on working if they haven’t saved enough by the time they hit their target retirement age; with more than one in three (36 percent) planning to continue working in their current role until they have enough saved; while one in ten (9 percent) expect to become self-employed.

July 16, 2015

Women are less assertive in asking for a pay rise than men

by Sara Bean • Flexible working, Legal news, News, Workplace

There has been much focus on gender pay this week with the announcement that larger companies will be forced to disclose pay rates. Now a new poll suggests another reason why women’s pay lags over their career, a lack of assertiveness. A report commissioned by Glassdoor found that only a quarter of UK women (27 percent) feel confident they will receive a pay rise within the next 12 months, compared to 40 percent of men. Women are also less likely to leave a job because of low salary than men – 30 percent of women said that low salary had been the major factor behind them moving on from jobs in the past, compared to 39 percent of men. The Glassdoor UK Employment Confidence Survey, conducted online by Harris Interactive, monitors four key indicators of employee confidence: job security, salary expectations, job market optimism/re-hire probability and business outlook optimism.

July 16, 2015

Forget flexible working, what most workers would prefer is more money

by Neil Franklin • Flexible working, News, Workplace

Flexible working, wellbeing and praise may grab all the headlines when it comes to ways of raising productivity but if you really want to get more out of staff, the number one motivator remains the one that hits them where it really matters – in their pockets. According to a study of the attitudes of 1,000 office workers from office space search engine Office Genie, around half (49 percent) chose pay rises and more than a third (36 percent) chose other financial incentives when asked to select the top three ways their employers could improve their productivity. Nine percent specifically mention company shares. The third most popular measure overall was flexible working, cited by 22 percent of workers in their top three, followed by praising good work (20 percent) and encouraging people to get a good night’s sleep, again listed by a fifth of staff.

July 15, 2015

One in five Brits distrustful of adopting wearable technology at work

by Sara Bean • Facilities management, News, Technology, Workplace

Almost a fifth (18 percent) of European employees already have access to some form of wearable technology, but British workers are most worried about the privacy implications. According to research by ADP wearables such as augmented reality headsets, biometric identification and holographic video conferencing tools will create opportunity for businesses to improve productivity, connectivity and security. Yet more than half (52 percent) of employees are concerned about the amount of personal data employers can access via wearable technology, with attitudes towards privacy varying between countries. While as many as 60 percent of German employees express reservations, only 36 percent of Dutch employees feel this way. Overall, UK workers are the most hesitant, with as many as one in five (20 percent) saying that they would not use wearables at all, compared to 10 percent in France, and 8 percent in Germany and the Netherlands.

July 14, 2015

Prime Minister vows to force employers to reveal gender pay gap

by Sara Bean • Legal news, News, Workplace

A consultation begins today on plans by the government to force larger companies with more than 250 employees to reveal the difference between the average pay of their male and female employees. Writing in today’s Times Prime Minister David Cameron says he is making a personal commitment to ensure that when his daughters aged four and eleven start work they will experience complete gender equality. Although the gender pay gap has narrowed to almost zero amongst the under 40s, ONS figures show that by the age of 40, men out-earn women by an average of £1.64 per hour, while according to the recent PwC annual Women in Work Index, the UK still lags well behind many other countries in overall female economic empowerment. The new consultation will be wide ranging and will look at who will be required to report, as well as the content, frequency and manner of reporting.

July 14, 2015

Occupiers give big thumbs down to service levels from property sector

by Neil Franklin • Facilities management, News, Property

The property sector offers its customers pretty appalling customer service, according to a ‘damning’ new report from the British Council of Offices (BCO). The study, based on the experiences of just 64 occupiers claims that fewer than one in five (17 percent) rate their property management service as “good” or “excellent” and fewer than one in three feeling that their suppliers understood their business needs. The survey found that although customer service is lacking, satisfaction with the end product itself was high, with two out of three occupiers happy with the quality of their office and three out of four perceiving quality to have improved over the past 10 years. The report sets out a 10-point action plan to improve the service occupiers receive, including adopting a new definition of “building performance” set by the BCO and encouraging more transparency.