Search Results for: cost of living

An uncertain world, but CEOs remain broadly bullish about the future

An uncertain world, but CEOs remain broadly bullish about the future

Geopolitics and broader political uncertainty are now the greatest risk to business growth, according to a survey of more than 1,300 CEOs of the world’s largest businessesGeopolitics and broader political uncertainty are now the greatest risk to business growth, according to a survey of more than 1,300 CEOs of the world’s largest businesses. The KPMG 2023 CEO Outlook claims that geopolitics and political uncertainty have become the leading perceived risk this year for senior executives – concerns that didn’t even make the top five in the 2022 survey. More →

Sluggishness in sustainability risks brain drain for businesses

Sluggishness in sustainability risks brain drain for businesses

Employers are being urged to shore up their commitments to meeting sustainability and net zero targets or risk an exodus amongst younger workersEmployers are being urged to shore up their commitments to meeting sustainability and net zero targets or risk an exodus amongst younger workers. Nearly half (48 percent) of Gen Z workers agree they would consider leaving a job that didn’t walk the talk in its promises on sustainability. This is according to the latest Bupa Wellbeing Index, a landmark survey that uncovers the state of the nation’s health and wellbeing. More →

Generations in the workplace: setting the record straight

Generations in the workplace: setting the record straight

A middle aged man and a younger male colleague sit in comfortable chairs having a conversation to illustrate a conversation between generations of workersIf there were an algorithm to create a word cloud in response to searches for ‘What millennials want in the workplace?’, you’d expect to see Google spew out terms such as ‘flexibility’, ‘meaning’, ‘fairness’, ‘equality’, ‘inclusivity’, ‘opportunity’, ‘connections’, ‘socialising’ and ‘experience’. Do the same with ‘Gen Z’ replacing ‘millennials’ and – guess what – you’ll see the exact same word cloud, although perhaps in a different colour and order so you don’t think it’s based on the same homogeneous assumptions about younger generations. More →

Workplace generations express different demands of their jobs

Workplace generations express different demands of their jobs

A report from interior design and fit-out business Claremont claims that firms are having to work increasingly hard to address the needs and priorities of different workplace generationsEven though people who belong to so-called Generation Z are often described as digital natives, it is actually ‘Baby Boomers’ who are most focussed on workplace technology, a new poll claims. The report from interior design and fit-out business Claremont claims that firms are having to work increasingly hard to address the needs and priorities of different workplace generations. It claims that Baby Boomers (born 1946 to 1964) want better technology in the office to help them be more productive. They also want more face-to-face collaboration and team spirit more than any other generation. More →

Over half a million people with long-term sickness want return to work

Over half a million people with long-term sickness want return to work

between January-December 2022, nearly a quarter (22 percent) of those forced out of the workplace because of long-term sickness said that they wanted a jobAnalysis of Office for National Statistics (ONS) data from consultants Broadstone, claims that between January-December 2022, nearly a quarter (22 percent) of those forced out of the workplace because of long-term sickness said that they wanted a job. With economic inactivity because of ill-health surging to 2.6 million people as per the latest estimates through February-April 2023, it suggests that over half a million people – around 560,000 – are keen to return to employment so long as they can improve their health. According to the firm, would be a major boost to the UK economy, employers struggling with staff shortages and employees grappling with the continued cost of living crisis. More →

Flexible office space provider LABS on why the physical office space is still strategically key

Flexible office space provider LABS on why the physical office space is still strategically key

A recent survey conducted among LABS members shows that the physical office space still has a valuable place in the mindset of how they want to work. More than seven in ten of those questioned said the office is a strategic device for their businesses, and more than 74 percent of members questioned use the office for two days or more per week.

However, working culture is still developing rapidly following the pandemic and its government-mandated full time working-from-home set up, with employers and employees carefully navigating a path that tees up with company expectations as well as staff’s desire to work remotely for part of the week, which in some cases allows them to better deal with issues such as child or elder care or just attain a better work/life balance. Companies are clearly grappling with the complexities of managing diverse teams with varying needs and preferences. The seniority of employees and their distinct working styles play a crucial role in determining the feasibility and desirability of remote work.

While the Office for National Statistics reveals that 40 percent of civil servants in the UK are still working from home there is a definite flip side in the private sector. In the spring of this year, Bloomberg reported that, following a large-scale layoff programme in the tech sector, Meta CEO Mark Zuckerberg has asked its staff to “find more opportunities to work with your colleagues in person.” This is the latest in a long line of high-profile firms to reverse their work-from-home policies including Starbucks and Walt Disney Co. Other firms in the pro-return to the office camp include Goldman Sachs, Morgan Stanley, Apple, and Peloton with the CEO of JP Morgan stating that he doesn’t believe working from home works for managers or younger members of staff. Bloomberg itself has set a minimum presence in the office of three days per week.

Amazon too has a thrice weekly attendance policy which kicked in last month in light of CEO Andy Jassy saying on the firm’s blog that “There is something about being face-to-face with somebody, looking them in the eye and seeing they’re fully immersed in whatever you’re discussing that bonds people together.” General Motors’ management shares Amazon’s three days per week requirement which came into force at the beginning of 2023, which some staff took as a U-turn in company policy from encouraging colleagues to ‘Work Appropriately’.

 

Making the office the destination of choice

As well as incentives such as free food and drinks, access to facilities including gyms and opportunities to come together at work socials, the chairman of PwC believes that AI has its part to play in luring people from their home offices. The Times recently reported that Kevin Ellis thinks that as people feel pressure from the capabilities of the likes of Chat GPT, they are more likely to want to be in the office near colleagues they can collaborate and learn from.

In a company-wide presentation, the professional services giant explained to staff how AI has the potential to fast-track trainees by a couple of years but with that accelerated knowledge base comes a responsibility to be able to coach and manage others that traditionally would have taken place over a longer period. Ellis said at the time that “people are going to want to learn from others face-to-face and the best way a human can differentiate themselves from a robot is in person.”

It’s fair to say then that the mood may well be shifting from the ‘work from anywhere’ easy come easy go attitudes of 2021 and last year. As companies continue to navigate the choppy waters of political unease in Ukraine, the continuing impact of Brexit and the worldwide inflation rates not to mention the global cost of living crisis so they are increasingly calling for near full-time attendance, symbolising a return to pre-pandemic norms, to stay competitive.

Being present in the office has many well-documented advantages such as fostering creativity, encouraging and engendering a sense of culture. And there are positive signs among LABS members too, with over three quarters of them enjoying working from the office most of the time with over half citing colleague relationships as the most important aspect of an office, up by 4 percent year on year.

Given the aforementioned global political uncertainty and economic strife, flexibility and choice for occupiers as well as employees are key components of our current work culture. In this way, workplace strategies can easily shift to address sudden changes. Which is where LABS’ turnkey solutions, available in various shapes and sizes, come in with flexible tenancy arrangements and inspiring amenities. In this way LABS can help optimise a workplace model that works for everyone.

Half of gig workers earn below the minimum wage

Half of gig workers earn below the minimum wage

More than half of gig workers in the UK are paid below the minimum wage, a new study claimsAs the cost of living continues to spiral, a new report shows more than half of gig economy workers in the UK are paid below the minimum wage. The study, led by the University of Bristol, found 52 percent of gig workers doing jobs ranging from data entry to food delivery were earning below the minimum wage. On average respondents were earning £8.97 per hour – around 15 percent below the current UK minimum wage, which rose to £10.42 this month. More than three-quarters (76 percent) of survey respondents also experienced work-related insecurity and anxiety. More →

Majority of employees see themselves as cogs in corporate machinery

Majority of employees see themselves as cogs in corporate machinery

A significant majority (85 percent) of employees feel like they are just a cog in the machinery of their organisation and 43 percent have no idea how their performance contributes to business success, according to a new survey of employee experience and expectations. According to the new study [registration] from Oracle, HR leaders are struggling to keep up with changing employee expectations and this can have dire consequences for businesses. The survey of 1,000 employees and HR leaders across the United Kingdom (UK) found that despite current economic uncertainty, worker expectations are higher than ever, and HR leaders need help to get the employee experience right or risk losing profits and market share. More →

Half of parents struggling for work life balance

Half of parents struggling for work life balance

A new poll from AA Driving School suggests that around half (51 percent) of British parents find their job prevents them from finding a healthy work life balance, due to childcare and cost of living pressures.A new poll from AA Driving School suggests that around half (51 percent) of British parents find their job prevents them from finding a healthy work life balance, due to childcare and cost of living pressures. Increases to the cost of childcare have driven UK parents to work either additional hours in their current job (18 percent) or even take another job (12 percent) to financially support their family. More →

More than half of UK workers find their office design uninspiring

More than half of UK workers find their office design uninspiring

British workers are finding their offices and places of work to be severely lacking in inspiration and innovation, according to a new poll from office design and fit-out firm Claremont.British workers are finding their offices and places of work to be severely lacking in inspiration and innovation, according to a new poll from office design and fit-out firm Claremont. The survey of more than 1,000 office workers across a range of sectors set out to identify the impact of an office on a workforce’s behaviour and how staff need to feel in order to be happy, healthy and productive.  More →

Three quarters of people who left their pre-covid employer now want to go back

Three quarters of people who left their pre-covid employer now want to go back

According to a new poll from recruiter Robert Walters, almost three quarters of professionals (71 percent) who left their pre-covid employer in search of better pay or working culture say that they are open to returning. Half of the 3,000 people surveyed say that the reasons as to why they left in the first place are no longer applicable. Nearly half (45 percent of workers) who had left their job after lockdown did so for better pay – with a further 35 percent leaving for a better workplace culture or more purpose/fulfilment in their role. More →

The UK workplace sector reacts to the Spring Budget 2023

The UK workplace sector reacts to the Spring Budget 2023

The workplace sector in the UK has been reacting to the announcements in the Spring budgetToday the UK’s Chancellor of the Exchequer, Jeremy Hunt presented his Spring Budget to the House of Commons. In it he announced what her referred to as his ‘four pillars’ of industrial and productivity strategy, namely: ‘Enterprise’, ‘Employment’, ‘Education’, and ‘Everywhere’. Perhaps the headline element of this announcement was the creation of twelve new investment zones across the UK as well as incentives for older workers to return to the country’s patchy workforce. This includes£63m for programmes to encourage retirees over 50 back to work, “returnerships” and ‘skills boot camps’. Another headline for the workplace sector was the offer of improved childcare arrangements, especially for the parents of very young children, who will see 30 hours of free childcare expanded to include one and two-year-olds. More →