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Office costs continue to rise across the UK

Office costs continue to rise across the UK

office costs surveyLambert Smith Hampton (LSH) has released its latest Total Office Cost Survey (TOCS) which provides detailed information on office costs for over 50 UK locations. Across 54 surveyed locations, the survey shows the prime core of London’s West End remains by far the most expensive UK office location, with the annual cost for a new office in Mayfair standing at £18,988 per workstation. This stands at 139 percent above the UK average and 45 percent ahead of the next most expensive office location, the City of London. More →

Mixed messages in labour market, but signs of trouble ahead

Mixed messages in labour market, but signs of trouble ahead

Work-life balanceThere are mixed signals in today’s jobs figures for the UK. Optimists will point to continued record employment, a slight fall in unemployment and earnings growth higher than at any point since the recession – despite everything, the labour market is still going strong. For pessimists though, there are strong signs of things slowing down: vacancies have fallen to their lowest since 2017, the growth in employment is virtually flat, and the number of young people not in employment or education is rising again. So what is really going on? More →

Workers worldwide think they could outperform their own bosses

Workers worldwide think they could outperform their own bosses

manager and workersManagers should seriously consider giving their employees the reins for a day to test new research that indicates seven out of 10 employees worldwide (69 percent) say they can do their boss’s job better, despite nearly the same number of workers (71 percent) grading their boss’s competence a B or better.

The Global State of Managers research comes from The Workforce Institute at Kronos Incorporated and Future Workplace, which examined how nearly 3,000 employees in Australia, Canada, France, Germany, India, Mexico, the U.K., and the U.S. would grade their manager’s effectiveness across five factors: communication, competence, empowerment, professional development, and support.

According to the study, employees grade their managers high on competence but nearly fail them when it comes to work-life balance and job coaching. Overall, people feel managers are good at their jobs, with the majority of employees grading bosses an A or B for competence (71 percent) – the highest grade given – and work ethic (70 percent).

Bosses also received high marks (B or better) for their communication skills, people management skills, and ability to handle performance-related issues (all 67 percent). The older the employee, however, the more critical they are of their boss: Baby Boomers1 and Gen Xers grade managers more harshly with a C, D, or F for overall people management skills (37 percent and 38 percent, respectively). Worldwide, the employee-manager connection remains critically important: 70 percent of employees say their relationship with their manager is an extremely or very important factor when deciding to remain at their current job, with 22 percent agreeing it’s somewhat important. Millennial (79 percent) and Gen Z (73 percent) employees feel strongest about the importance of the manager relationship for retention compared with Gen X (66 percent) and Baby Boomer (62 percent) counterparts.

Other findings

  • Nearly seven out of 10 people think they can do their boss’s job more effectively.
  • While bosses worldwide are well regarded by their employees, these same employees think they could personally manage even more effectively, with younger Millennial (73 percent) and Gen Z (70 percent) employees most confident they could do better.
  • Based on grades given of a C, D, or F, at least one in three employees feel their manager could improve at modelling work-life balance (37 percent); their ability to coach for better job performance (37 percent); handling performance-related issues (33 percent); and communication (33 percent).
  • For overall people management skills, the majority of workers would “pass” their boss with an A (26 percent), B (37 percent), or C (25 percent); yet 4 percent of employees give a solid F for performance.
  • French, German, and U.K. managers graded worst for competence, while Indian and Mexican workers are happiest overall…with one big exception.
  • Indian employees are by far the most satisfied with their managers, with at least eight out of 10 grading managers an A or B in every category. Conversely, French, German, and U.K. workers are by far the most pessimistic about manager performance, as those countries ranked in the bottom three in every category surveyed
  • Most competent: India (87 percent); Australia (76 percent); Canada (75 percent); Mexico (75 percent); U.S. (71 percent); Germany (62 percent); U.K. (61 percent); and France (59 percent)
  • Best communicators: India (90 percent); Mexico (74 percent); Australia (68 percent); Canada (68 percent); U.S. (67 percent); Germany (59 percent); France (58 percent); and the U.K. (56 percent)
  • Hardest-working managers: India (81 percent); Australia (75 percent); U.S. (73 percent); Canada (72 percent); Mexico (70 percent); Germany (63 percent); U.K. (62 percent); and France (58 percent)
  • Best job coaches: India (83 percent); Mexico (70 percent); U.S. (64 percent); Australia (63 percent); Canada (61 percent); France (56 percent); Germany (55 percent); and the U.K. (51 percent)
  • Most adept at handling performance-related issues: India (86 percent); Mexico (73 percent); U.S. (70 percent); Australia (68 percent); Canada (66 percent); Germany (59 percent); U.K. (57 percent); and France (56 percent)
  • Role models for work-life balance: India (80 percent); Mexico (70 percent); Canada (65 percent); U.S. (65 percent); Australia (62 percent); France (55 percent); Germany (55 percent); and the U.K. (53 percent)

 

Differences by sector and nationality

Despite rating their managers No. 1 in all categories, 95 percent of Indian employees still say they could do their boss’s job better all of the time (47 percent) or some of the time (48 percent). This sentiment is followed by 87 percent of Mexican workers and 71 percent of French workers. Canada (61 percent) and U.S. (59 percent) workers feel the least confident that they could do their boss’s job better – yet it’s still more than half of all employees.

Managers in the technology industry are on top overall, scoring highest marks (A or B) in people management (81 percent), communication (75 percent), and modeling work-life balance (70 percent). Professional services managers (e.g. accountants, engineers, lawyers) rank second-best, with 70 percent of employees grading   them a B or better for people management and communication. Employees in the technology (77 percent) and finance (70 percent) sectors say they have a strong or very strong relationship with   their boss, followed by manufacturing (62 percent); education (61 percent); retail (61 percent); and professional services (61 percent).

There is room for managers to model better work-life balance in frontline industries – i.e. those who must be present to do   their jobs – with 53 percent of employees in federal government, 42 percent in healthcare, and 42 percent in retail giving their boss a C or   worse.

Regarding pure competence, managers are graded worst – C or lower – by public safety (44 percent); federal government (39 percent); transportation/distribution/logistics (35 percent); and healthcare (34 percent) employees. More than one in three employees give poor marks of a C or worse for their manager’s work ethic in federal government (37 percent); healthcare (34 percent); transportation/distribution/logistics (34 percent); and manufacturing (33 percent).

Image by Pixabay 

Coworking continues to reshape property markets worldwide

Coworking continues to reshape property markets worldwide

Epicenter Coworking Space in StockholmAgainst a global backdrop of diminishing business confidence and a weaker outlook for economic growth, a robust labour market in the world’s largest economies continues to underpin demand for office space with high employment levels prevalent across a number of major markets. Demand continues to be driven by the knowledge economy, with the coworking boom continuing to broaden its reach across major markets, forcing traditional landlords to adapt their offering in order to best accommodate existing and potential occupiers. More →

A grey tsunami, three goldfish, the red pill of coworking and some other colourful stuff

A grey tsunami, three goldfish, the red pill of coworking and some other colourful stuff

A right leaning think tank’s suggestion that the UK should set a new retirement age of 75 and introduce a range of measures to extend people’s working lives to boost the economy and improve people’s wellbeing sparked an inevitable paroxysm of rage. Immediately followed by an equally inevitable and furious level of what passes for debate these days. A stramash the Scottish would call it. More →

Businesses should focus on the greater good of people and society

Businesses should focus on the greater good of people and society

Modern corporations should work in the best interests of society and people rather than focusing primarily on making money for shareholders as they may have in the past, according to an influential group of chief executives. The body Business Roundtable, which represents the heads of some of America’s largest companies, including Apple, Amazon and Exxon Mobil, has issued a statement of its updated corporate governance principles. More →

Changing nature of work revealed in official data

Changing nature of work revealed in official data

The changing nature of workMany aspects of the changing nature of work in the UK are highlighted in a new official report into the number of hours worked in the country. The UK’s ongoing productivity challenges, highlighted by another ONS report last month, are well known, but the new data suggests that a number of common suppositions about the way we work should be challenged, especially those related to demographics, the types of work people do and who does it. More →

Voices from the age of uncertain work

Voices from the age of uncertain work

A woman crosses on a tightrope, illustrating the problem of uncertain workOn the surface, the wellbeing of the American worker seems rosy. Unemployment in the U.S. hovers near a 50-year low, and employers describe growing shortages of workers in a wide array of fields. But looking beyond the numbers tells a different story. My new book, “The Importance of Work in an Age of Uncertainty,” reveals that some Americans are experiencing an erosion in the world of increasingly uncertain work that is hurting their wellbeing, relationships and hopes for the future. More →

If you want to do your brain some good, take it outside

If you want to do your brain some good, take it outside

Walking on cobbles can be good for the brainIt’s summertime — even here in San Francisco. I look around and I see my neighbors putting down their devices and heading into the great outdoors. And, that should not be just a seasonal joy; it’s actually very good for your brain any time of the year. We weren’t meant to spend as much time inside – in a controlled environment – as we do. The brain thrives when it encounters new things and challenges. As just one example, studies have shown that walking on an uneven surface – such as cobblestones – and making the constant requisite physical adjustments is better for your brain than the monotony of paved surfaces. More →

The tipping point for flexible working arrives

The tipping point for flexible working arrives

Although people have been talking about flexible working in one way or another for decades – the economist John Maynard Keynes declared in 1930 that technological advances would lead to a 15-hour working week – we may now be at the tipping point where work takes on an entirely different character. More →

Half of self-employed workforce now over 50

Half of self-employed workforce now over 50

Over 50 and self-employedThe number of over 50s working for themselves made up 46 percent of the UKs entire self-employed workforce in the first three months of  2019, according to new research from jobs and volunteering board Rest Less. There are now 2.27 million over 50s who are self-employed – up from 1.45 million 10 years ago, an increase of 57 percent in a decade. The survey looked at data from the Office of National Statistics to highlight self-employment trends amongst the different demographic groups in the UK. More →

Self-employment might be good for mental health

Self-employment might be good for mental health

self-employmentThe general picture of self-employment, the gig economy work and mental wellbeing is not a pretty one. Around the world, Uber drivers face wage and security worries. Deliveroo workers have too much competition. Airbnb owners face legal problems in Paris and other cities. But while these headlines suggest a dark cloud over the heads of gig economy workers, recent data I’ve looked at unexpectedly shows that they are about 33 percent more likely to self-report positive mental health traits.
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