Search Results for: income

March 4, 2014

Average UK working parents now spend more on childcare than mortgages

by Mark Eltringham • Flexible working, Legal news, News, Workplace

Last month we questioned the financial wisdom of going to work for Britain’s working parents. Today the question became even more vexed as it emerged they typically pay childcare costs equivalent to over a quarter of the UK average salary. A report from the Family and Childcare Trust says that to have one child in a part-time nursery and another in an after school club would cost £7,549 each year. Not only does this represent 28 percent of the average salary of £26,500 and is more than an average mortgage which is £7,207 per annum. For those with full time childcare the costs are typically £11,700 per year. The report also notes that childcare costs have increased by over a quarter over the last five years and even the Government’s ongoing commitment to childcare is failing to alleviate the situation.

February 13, 2014

Why do we bother going to work? Good question.

by Mark Eltringham • Comment, Facilities management, Flexible working, Workplace

While the UK Government continues to explore new ways of getting people back to work more quickly following (or even during) illness, there are a number of counterpart questions that they continue to fastidiously ignore, one of which is ‘why bother?’. We might all ask ourselves that from time to time, whether petulantly or as a pressure-relieving alternative to ramming a co-worker’s head through a window or a laptop in a dumpster. But there are also reasons to raise the question coldly, rationally and with full awareness of all the facts, not least when it comes to assessing the increasing cost of going to work in the first place. Put simply, for many people it makes little or no financial sense to go to work.

January 27, 2014

Latest generation Y survey reflects characteristically idealistic thinking of youth

by Sara Bean • Comment, News, Workplace

Maybe it’s the cynicism of middle age, but the most recent exploration of arguably, the most over-analysed cohort of workers in history – Generation Y – seems to reflect the archetypal idealistic thinking of youth. For example, while most Millennials (74%) believe business is having a positive impact on society by generating jobs (48%) and increasing prosperity (71%), they think it can do much more to address society’s challenges in the areas of most concern: resource scarcity (68%), climate change (65%) and income equality (64%). And quelle surprise, 50 per cent of Millennials surveyed wanted to work for a business with ethical practices. You have to wonder wouldn’t an examination of the hopes and aspirations of the last couple of generations of younger workers reveal similar ideologies, albeit without the benefit of their digital sophistication? More →

November 12, 2013

UK commercial property lease lengths shorten to ten year low, claims report

by Mark Eltringham • News, Property

Lease lengths for commercial property fell to an historic low in the year to June 2013, while income, lost due to tenants going bust, hit an all time high, according to a new report from IPD. The IPD Lease Events Review measures over 93,000 leases, and 3,500 lease events across the UK. The 2013 edition found that over 80 percent of UK leases signed in the year to June 2013 were under five years in length, the highest level since measurement began and up from 55 percent over the last ten years. The average length of commercial property leases is now 5.8 years, down from 7.8 years in 2003, lower even than the 6.0 years in 2009 at the lowest point of the recession. Landlords have struggled to maintain cash flow and lost over 6 percent of their income due to a record numbers of defaults and insolvencies last year.

October 22, 2013

Germans prove that long hours and productivity are often two completely different things

by John Sacks • Comment, Workplace

Earlier this year, Insight published the results of a survey which showed that the World’s hardest workers, contrary to what Jeremy Clarkson might say, are Mexican. But that poll told half the story because it only measured the number of hours people work. When it comes to productivity measured by output against time spent working, it turns out that it’s the Germans who are the undisputed champions according to research from the PEW Trust. This won’t come as a surprise if you believe the Teutonic stereotype, as many people assuredly do. The survey also found that, when asked which nation had the most productive workers, respondents in the UK, France, Italy, Spain, the Czech Republic, Poland and Germany itself all believe that Germans are Europe’s hardest workers.

September 17, 2013

New research sheds light on why executives persist in stressful work habits

by Sara Bean • Flexible working, News, Workplace

There’s a fine line between enjoying the stimulation of a demanding job and feeling burnt out. Lloyds’ chief executive, Antonio Horta-Osorio made headline news in 2011 after being signed off sick with stress and exhaustion. As the recent suicides of two Swiss banking executives have shown, it’s often difficult for pressurised workaholics to admit the job has become too much. A recent US academic study provides some clues as to why senior executives persist in working to unhealthy levels; while research by serviced office provider Business Environment reveals how UK office workers are also prone to stressful work habits. One fifth (21%) take work home at least one to two times a week, and one in five employees (19.6%) have taken time off work due to stress. More →

August 24, 2013

UK Government encourages £1 billion council property sale to fund services

by Mark Eltringham • Knowledge, News, Property, Public Sector

The parlous state of local authority finance in the UK is encouraging councils to behave in new ways and many are making them unpopular. From the greater use of bailiffs to attempts to increase income from local car parks, much of the current thinking on revenue generation has focussed on quick fixes as councils seek to preserve front line services. Whitehall is currently carrying out a technical consultation as it seeks to cut its funding for front line services by 21 percent over the next two years as part of the now annual debate about finding the money to do all the things Central Government expects local authorities to do. One potential solution is the sale of property according to a report that councils may be allowed to sell off buildings and reinvest the proceeds in their operations.

August 19, 2013

CBI raises growth forecasts, but cautious on sustainable recovery

by Sara Bean • Knowledge, News, Property, Workplace

A pick-up in confidence across a broad range of sectors, including services and construction and a better than expected second quarter has led the CBI to raise its growth forecasts, with GDP growth of 1.2 per cent predicted in 2013, up from 1.0 per cent in the May forecast. In 2014, the business group expects the economy to gather pace, forecasting 2.3 per cent GDP growth, up from 2.0 per cent in May. However, unemployment rates look set to stick at around 7.8 per cent. John Cridland, CBI Director-General said: “The economy has started to gain momentum and confidence is picking up, but it’s still early days. We need to see a full-blown rebalancing of our economy, with stronger business investment and trade before we can call a sustainable recovery.” More →

June 10, 2013

British Land on track to meet targets on green building efficiency

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

British Land says it is on track to meet many of its 2015 targets on managing buildings efficiently, developing sustainable buildings and reducing carbon emissions. In its Corporate Responsibility Report for 2013, the real estate investment trust, which owns and manages a portfolio of commercial property worth £16.4 billion reiterates its commitment to sustainable property management: “There are increasing indications to support our view that sustainability, and particularly energy efficiency, grow income and grow value in the longer term. We are convinced this will be proven over time. Green buildings are also less at risk of obsolescence, thus further protecting and growing capital value over the medium to long term.” More →

May 13, 2013

Employment rates set to grow but applicants must battle for jobs

by Sara Bean • Knowledge, News, Workplace

Employment growth is set to continue in the second quarter of this year, but the jobs market remains a ‘battleground’, particularly for low-skilled workers. According to the Spring 2013 Chartered Institute of Personnel and Development (CIPD)/Success Factors Labour Market Outlook (LMO), the net employment balance – which measures the difference between the proportion of employers who expect to increase staffing levels and those who intend to reduce staffing levels, has increased to +9 from +5 for the previous quarter, the fifth consecutive quarter of projected growth. However, the median number of applicants employers receive for medium-skilled roles is 29, highly-skilled vacancies typically receive 10 applicants and pay rates continue to be squeezed.

May 8, 2013

Planning consent given for Tower Bridge Business Complex

by Mark Eltringham • News, Property

Workspace Group has announced that it has received planning consent for the mixed–use redevelopment of its property at the Tower Bridge Business Complex in South East London. The final development will offer 270,000 sq ft of existing business space and 60,000 sq ft of new business accommodation as well as 800 new residential units and a public park. Jamie Hopkins, chief executive officer said: “There is strong demand for tailored business space in the area and it is our firm intention to increase the number of jobs on site in order to benefit the local community. The development also provides a significant boost to both the capital value and rental income of the site.”

April 23, 2013

Client focus as crucial as great design says RIBA

by Sara Bean • Architecture, Facilities management, Knowledge, News, Workplace design

The architectural profession can’t rely on great design alone, but needs to be more business and client focused warns the Royal Institute of British Architects. According to RIBA’s 2012/13 Business Benchmarking Survey, 62 per cent of practices do not have a business plan and, of those that do, only 13 per cent plan beyond one year. Interestingly, the survey also finds that 50 per cent of the profession’s work is won as the result of a direct approach with no competitive process. RIBA President Angela Brady said: “One key element exposed in these latest results is the acute split in business management, profitability and specialisms between large and small practices on how to make the most of their own position in the market place. What is clear is that if growth is on the agenda for a practice, then simply being a great designer, or a good project runner, is unlikely to be enough.” More →