Search Results for: recession

Shifts in occupier behaviour and attitudes to real estate pave the way for a workplace revolution

Shifts in occupier behaviour and attitudes to real estate pave the way for a workplace revolution

by • News, Property, Technology

flexible real estate at Station F ParisThe rise of the flexible office is the result of dramatic changes in the way corporate occupiers approach their real estate decisions, and will open up opportunities for landlords able to adapt and respond to these shifts. These are some of the claims from The Flexible Revolution (registration required), a pan-European report from CBRE exploring the flexible office market. Over the past decade the global flexible office market has been growing at an average of 13 percent per annum. Growth rates in EMEA (excluding UK) and APAC have averaged around 20 percent per annum, while the more mature and larger markets of the UK and the USA have seen average growth of 10 percent per annum over the same period. Key European cities like Berlin, Paris and London have all seen strong year-on-year growth of 12 – 21 percent between 2016 and 2017, which is comparable with markets like New York and San Francisco, where the flexible office concept has existed for longer.

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Our Twentieth Century approach to ergonomics has to change

Our Twentieth Century approach to ergonomics has to change

by • Comment, Flexible working, Technology, Wellbeing, Workplace design

One of the big problems with the way some people talk about the term ‘ergonomic’ is that they tend to use it to describe the design of objects when really it’s about the relationship between a person and the things around them. It’s an abstract idea, about the relationships between design, facilities and management, so is dependent on a number of variables. When those variables change, what we understand to be good ergonomics changes too. The principle of ergonomics as we now understand it first came to prominence in the wake of the intensive growth in the use of computers. The legacy of this fixed view can be an approach based on an idea of desk-bound employees with a computer, whereas how we work now bears little resemblance to how we worked 20 years ago.

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Precarious flexible working lives create toxic relationships between managers and workers, claims study

Precarious flexible working lives create toxic relationships between managers and workers, claims study

by • Flexible working, News, Wellbeing

Millions of British workers are having their health and home life put at risk and are having to beg for extra work to make ends meet because bosses are not offering them regular work patterns, a new study from Oxford and Cambridge Universities suggests. According to the study, Powerful times: Flexible discipline and schedule gifts at work published in the journal Work, Employment and Society, around 4.6 million people are subject to ‘precarious scheduling’ from employers which means that their hours are so inconsistent and unpredictable that they cannot make plans, leading to stress and problems in their home lives. The researchers said that many workers now find themselves in ‘degrading’ relationships with managers in which they are obliged to constantly ask for more work and changes to allow them to care for children and plan their domestic and recreational lives.
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UK remains stuck in stubborn low productivity trap

UK remains stuck in stubborn low productivity trap 0

by • News, Workplace

The persistently low productivity of UK workers has dropped back to pre-financial crisis levels, according to official figures. Hourly output fell 0.5 percent in the first three months of the year, the Office for National Statistics (ONS) reports in its latest update. At the end of 2016, productivity returned to the level seen before the 2008 recession. But it has now slipped back again and is 0.4 percent below the peak recorded at the end of 2007, according to the ONS. It was the first quarterly fall in productivity since the end of 2015, according to the ONS. Economists have consistently warned that the UK’s low productivity continues to mean it lags behind its major trading partners such as the US, France and Germany.

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A nuanced approach to the design of the coworking office

A nuanced approach to the design of the coworking office 0

by • Comment, Flexible working, Workplace design

coworking spaceThe coworking segment of the real estate business is poised for exponential growth in the coming years, as the number of market players around the world today continues to increase. With humble beginnings in an economic recession, the shared workspace trend has captivated both the start-up entrepreneur and the remote corporate worker, alike. This success is due, in large part, to the fact that the coworking model provides an opportunity for a wealth of amenities that go far beyond the traditional office’s standard desk space. These shared, multi-functional facilities are carefully designed to be both vibrant and personable, with endless opportunities for community collaboration and innovation.

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Staff aged 35 and under have lower levels of health and wellbeing than older workers

Staff aged 35 and under have lower levels of health and wellbeing than older workers 0

by • News, Wellbeing, Workplace

Staff aged 35 and under have lower level of health and wellbeing than older workers

Employees aged 35 and under lose the highest average amount of productive time due to absenteeism and presenteeism, are the least physically active in the workforce, have a high proportion of smokers and eat the least fruit and vegetables each day. This is according to data from Britain’s Healthiest Workplace (BHW) which claims that these same employees, many of whom entered the workforce following the recent global financial crisis, already suffer from social mobility challenges and tough economic conditions, which is having a considerable impact on their health and wellbeing. Data from BHW shows that high stress levels can have major impacts on employee productivity at work, which in turn has cost implications for the employer. Almost 35 percent of 26-30 year old employees are physically inactive, completing less than 150 minutes of exercise a week, and on top of this nearly 14 percent of this age group smoke. Comparatively, the same data shows that older employees have healthier habits, with 22.5 percent of 56-60 year olds being physically inactive and only a small proportion (6.1 percent) smoking.

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Employers as well as workers behind the creation of the gig economy

Employers as well as workers behind the creation of the gig economy 0

by • Flexible working, News, Technology, Workplace

Employers and workers are both driving the creation of gig economyEmployers and workers are both driving the creation of a temporary, independent workforce, but despite the benefits, there are some significant management challenges, claims two new EY surveys focusing on the gig economy. Among large organisations (100,000 employees or more) surveyed, 49 percent said they increased their use of gig workers in the last five years and 40 percent of organisations expect to increase their use of contingent workers in the next five years. One quarter expect 30 percent or more of their workforce to be contingent workers by 2020. On the employee side, the research shows more people are choosing to do contingent work; 73 percent of the 1,008 short-term contingent workers surveyed had positive reasons for their independent work arrangement, with only 20 percent saying they were short-term workers due to a lack of suitable full-time positions. Sixty-six percent believe the benefits of contingent working outweigh the downsides always or most of the time compared to just 6 percent who believe the opposite.

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Increased take-up of office space in Manchester as Brexit influences investors 0

by • Cities, Facilities management, News, Property

One St Peter's Square ManchesterTake-up of prime office space in central Manchester is on course to hit 1 million sq ft in 2016 and could be influenced by the impact of Brexit. The latest research by Colliers International suggests that overseas investors retained an interest in prime Manchester office space partly because of the devaluation of sterling following the Referendum vote for the UK to leave the EU – as proven by the recent £164m acquisition of the 288,000 sq ft One St Peter’s Square by global real estate investor Deka Immobilien. There have been a series of other major deals, including an insurance firm taking 165,000 sq ft of Grade A office scheme, a global law firm moving its global centre into an 80,848 sq ft development; and a government department negotiating a 60,000 sq ft deal. The legal sector accounted for almost 25 percent of total office take-up so far in 2016, followed by media and technology (16 percent) and business services (15 percent). However, all this activity may result in a lack of ready to occupy space in the city by early 2017.

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Gig economy boosts UK employment rate despite Brexit summer lull

Gig economy boosts UK employment rate despite Brexit summer lull 0

by • Flexible working, News, Workplace

gig-economyThere were fewer job vacancies on offer in August, due to the traditional summer lull and the after effects of the Brexit vote, but employment levels were maintained by a rise in self-employment and the growing gig economy. The latest UK Job Market Report from Adzuna.co.uk reveals that 1,123,365 job vacancies were advertised in August, dropping 2.7 percent from 1,154,993 in July. The post-Brexit summer period of uncertainty, combined with a seasonal slowing in the market, lay behind this blip, but hiring is 0.6 percent higher than six months ago and the jobs market is proving resilient in the face of political uncertainty. Despite vacancies falling, the employment rate was 74.5 percent – its joint record highest level since comparable records started in 1971, according to the ONS. This has been partly propped up by the rise of the gig economy and growing self-employment as job-seekers look to alternative forms of employment amidst the growing entrepreneurial environment.

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UK commercial property market ‘back to normal’ after Brexit vote

UK commercial property market ‘back to normal’ after Brexit vote 0

by • Cities, News, Property

london-commercial-property1The UK’s commercial property market remains robust in the wake of the vote to leave the European Union, although a weaker economic outlook may see some prices dip over the next two years, ratings agency Moody’s claims in a new report. The news comes as commercial property fund Standard Life announced that it has reopened trading, which was suspended in the immediate aftermath of the Brexit vote.  Moody’s said that the June 23 vote still has the potential to create significant uncertainty in the longer term, but that the fundamentals underpinning the UK commercial property market remain sound. Much will depend on the country’s broader economic prospects, Moody’s claims. If unemployment remains low and jobs growth continues, these two factors will do much to maintain demand for both domestic and commercial property although London’s market may be affected even if the national economy is robust, as firms may choose to relocate anyway.

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US Millennials ‘martyred’ behaviour helps drive culture of presenteeism

US Millennials ‘martyred’ behaviour helps drive culture of presenteeism 0

by • Comment, Flexible working, News, Wellbeing, Workplace

Millennial presenteeismAs the school holidays draw to a close, those Brits who’ve enjoyed their annual two-week holiday break will probably have squirreled away some days to take them through to the end of the year. Not so easy for the average US worker who earns on average just ten paid vacation days per annum, for each year of service. According to a survey carried out last year, many Americans even fail to take that allocated leave for fear of being seen as slacking. And now a new piece of research claims that far from breaking this tradition of presenteeism, US Millennial workers are the most likely generation to forfeit time off, even though they earn the least amount of vacation days. These findings, from Project: Time Off’s new report, The Work Martyr’s Cautionary Tale: How the Millennial Experience Will Define America’s Vacation Culture suggest that Millennials stay at work because they feel more fear and greater guilt about taking time away from the office than any other generation.

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UK commercial property market hits record high but Brexit uncertainty lingers

UK commercial property market hits record high but Brexit uncertainty lingers 0

by • Cities, News, Property

22-Bishopsgate_LondonThe UK commercial property sector is now larger than at any time since before the last recession, claims a new analysis from the Investment Property Forum. It has risen nearly 50 percent since its lowest point in 2009 and is now valued at £871 billion, an increase of around 11 percent. The amount of stock actually shrank last year, according to the study, with the increase in overall value arising from price rises. The previous highest valuation the IPF puts on the market was £865 billion in 2006. All is not good news however as a second report from the same organisation which explores sentiment in the market following the Brexit vote confirms there is a great deal of uncertainty in the market. This is particularly acute in the London market which makes up over a third of the nation’s total and is increasingly dominated by foreign owners who may have a negative response to the UK’s vote to leave the EU. Intriguingly, the report found that total floorspace marginally declined over 2015 and has only increased by 0.9 percent since the market high of 2006.

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