Search Results for: economy

February 10, 2016

Moderate growth for global commercial real estate predicted in 2016 ⁰

by Sara Bean • Facilities management, News, Property

US and European office markets will tighten further in 2016 as demand for space outpaces a limited number of new developments, according to CBRE Group’s 2016 Global Real Estate Market Outlook. However, the extent of tightening in individual cities will depend strongly on local job growth in major office-using industries. Global prime rents across the three major property types—office, industrial and retail—are expected to grow 2.2 percent on an annual basis, according to estimates from CBRE’s Global Rent Index. The Americas, thanks to the strength of the US property sector, is expected to see commercial real estate rents rise 3.4 percent in 2016, as consumption growth and rising employment, combined with comparatively limited new supply levels, simulates demand. Rents in EMEA are forecast to rise by 3.2 percent thanks to a combination of increased consumer spending, pent-up demand for commercial space and anticipated further monetary easing by the European Central Bank.

February 8, 2016

CIPD joins forces with the UK Government to tackle workplace cyber security ⁰

by Neil Franklin • Legal news, News, Technology, Workplace

Human resources has a key role to play in improving the cyber security of UK workplaces. That is the key challenge addressed by a new joint initiative from the Chartered Institute for Personnel and the Development and the Department of Culture, Media and Sport. Data breaches cost companies up to an average of £1.46 million are often a result of human error and malice, according to the CIPD. The initiative includes a free online course called Cyber Security for HR professionals as part of a wider initiative to promote the importance of cyber security at work, as well as the critical role that HR has to play in ‘mitigating the competency and behavioural risks present in the workplace’. Government figures released last year indicated that the costs associated with the most severe breaches now start at £1.46 million for large businesses, up from £600,000 in 2014, and can reach up to £310,000 for small businesses, up from £115,000.

February 5, 2016

Embracing the inevitable rise of the robots in the workplace ⁰

by Gary Chandler • Comment, Flexible working, Technology, Workplace design

We often have reason these days to speculate on the truth of an idea known as Amara’s Law. First coined by the researcher Roy Amara it states that “we tend to overestimate the effect of a technology in the short run and underestimate the effect in the long run”. But defining what we mean by short and long term can be very difficult when technology is changing so quickly. Nothing better illustrates this than the issue of how automation will transform society and workplaces. For the past few years, the effects have mainly been the subject of academic and scientific research alongside some lurid headlines in the mainstream media. So, a fairly typical 2013 paper from researchers at Oxford University assessed the risk faced by over 700 professions and discovered that nearly half of all jobs in the US could be categorised as at high risk of automation. Less academic studies such as a report published last year by Deloitte draw similar conclusions.

February 5, 2016

What the commercial property market tells us about trends in office design ⁰

by Paul Goodchild • Comment, Property, Workplace design

It’s become commonplace in recent years for certain people to foresee the death of the office. The problem with this argument is that, in spite of its drawbacks, office life maintains an attraction for both employers and employees and there will always be an upper limit on how long people want to spend away from other people. Things are changing but the death of the office is a myth. As we’ve known for at least a quarter of a century, there is no absolute need for us to go to work at all. Theoretically we could just do away with offices completely if we wanted to. But as we have seen, the fact we have evolved technology to the point where we could forget about bricks and mortar, doesn’t necessarily mean we will. Not only are there practical reasons for offices to continue to exist, there are emotive ones too. If you want evidence of this, look no further than the records currently being set by the UK’s commercial property markets.

February 2, 2016

Record investment in UK commercial property in 2015, but trouble ahead ⁰

by Mark Eltringham • News, Property

A near record £67.5 billion was invested in UK commercial property in 2015, making it the second strongest year on record and 46 per cent above the 10-year average, according to research from commercial property analysts CoStar Group. Momentum slowed sharply in the second half of the year, with investment down 19 per cent from the previous year. According to CoStar, this reflects the fact that investment activity has been especially strong over the previous 18 months and good opportunities are harder to find, but also that global economic and political uncertainty are impacting investment decisions. Nevertheless, 2015 was a strong year for the UK’s Big Six regional cities. Office investment increased 16 per cent to £3.2 billion, which is the highest level since the recession and more than double the eight-year average. Foreign investors seeking standing assets and development opportunities underpinned much of this investment.

February 2, 2016

Flexible working is now a requirement for many job seekers, claims report ⁰

by Mark Eltringham • Flexible working, News, Workplace

Employees are increasingly keen to find jobs that offer them flexible working, according to a new study of the global labour market published by recruitment firm Indeed. The report also found that several of the world’s largest economies, including the US, Germany and Canada are suffering because low wages and lack of skills mean employers are unable to find the right people to hire. According to the report, Labor Market Outlook 2016: Uncovering the Causes of Global Jobs Mismatch, interest in jobs that offer some form of flexible working as measured by online job searches that include terms such as “remote”, “work from home” and “telecommute”has increased by 42.1 percent over the last two years in nine of the 12 countries studied. More than half of the top 50 keywords associated with searches for flexible work globally were related to high-skilled jobs, many in the tech sectors.

January 28, 2016

The future of next generation TMT workplaces explored in new report ⁰

by Mark Eltringham • News, Property, Technology, Workplace design

A new report from property adviser Cushman & Wakefield claims to outline the key future property trends for TMT workplaces based on the views of decision makers from global Fortune 500 organisations, architects, designers, founders of start-ups and high-growth businesses. The Future of the TMT Workplace report produced in association with Unwork, identifies the key forces ‘driving change and necessitating TMT players to fundamentally rethink their workplace strategies’. These include frictionless growth, engineered serendipity, the ‘gig’ economy, the pace of technological change, demand for top technological talent far outstripping supply and where to locate in order to succeed.At this week’s launch event for the report, a panel of expert speakers agreed that workplaces have a critical for TMT firms to respond to challenges such as the need to attract the most talented tech workers.

January 28, 2016

Shortage of available office space for major occupiers in many US cities ⁰

by Sara Bean • Facilities management, News, Property

The diminishing availability of office space across the US is creating challenges for major occupiers, according to a new report from CBRE. An improving economy and subsequent increase in office demand along with the slow commencement of new construction has led to a shortage of large blocks of available office space in some major cities, including Philadelphia, San Francisco and Manhattan. While construction activity began to increase recently, with many constrained central office markets having new projects under construction, heavy pre-leasing activity means that the increased supply is often not enough to meet demand from large space users. Among downtown markets in the third quarter of 2015, the fewest total available large blocks (defined as 100,000 square feet or more of contiguous space) in existing and under-construction buildings were in Philadelphia (six), San Francisco (seven) and South Manhattan (ten).

January 26, 2016

Unethical employment practices drive ‘Gen S’ professionals away ⁰

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

Over half of ‘Gen S’ workers would refuse to work for employers who have a record of using slave labour, generating high levels of pollution, employing unsafe working conditions, poor environmental performance, questionable investments and unethical practices. According to the Institute of Environmental Management & Assessment’s (IEMA) annual Practitioner Survey these people see environmental roles as the career change of choice, with 42 percent of professionals who now work in these roles considering themselves “career changers”. Those entering the profession come from a variety of backgrounds including finance, operations, marketing and communications and R&D. Gen S workers are typically people in their mid-thirties, above average in their qualifications with 45 percent having a Master’s degree or doctorate, looking for more than just a career and earning money, but actively seeking a career which is primarily “ethical” in nature.

January 25, 2016

Families struggle for work life balance despite changing gender roles ⁰

by Mark Eltringham • Flexible working, Wellbeing, Workplace

A new report published today by the charity Working Families and nursery provider Bright Horizons suggests that parents are at greater risk of burn out as they strive for work life balance, with fathers at increasing risk as a result of their changing roles and expectations. The Modern Families Index is an annual study that explores how working families manage their work-life balance. This year’s report claims that nearly half (42 percent) of Generation Y fathers (born after 1980) feel burnt out most or all of the time, compared to just 22 percent of Gen Xers aged 36 to 45 and 17 percent of baby boomers aged over 45. The report claims that a growing number of fathers are now facing the same challenges and life choices most commonly ascribed to mothers. The study found that in half (49 percent) of the 1,000 couples surveyed, both parents were working full time. The figure rose to 78 percent for those in their twenties or thirties.

January 19, 2016

Fourth industrial revolution will result in five million job losses by 2020 ⁰

by Mark Eltringham • Flexible working, News, Technology

Disruptive global employment trends, including flexible working, the rise of robots, other forms of automation and Big Data analytics will see over five million jobs disappear worldwide over the next four years, a new report claims. The World Economic Forum’s Future of Jobs report has calculated that current disruptive labour market trends, including improvements in artificial intelligence, cloud technology, the Internet of Things and flexible working arrangements, could lead to a net employment loss of more than 5.1m jobs in the 15 countries surveyed. The report estimated that new trends would result in a total loss of 7.1m jobs – two thirds of which are concentrated in the office and administrative functions – and a total gain of 2m jobs. The WEF surveyed those who it felt were best placed to observe the dynamics of workforces including heads of HR departments and CEOs in 15 developed and emerging economies.

January 19, 2016

Skilled migrants attracted to regional and city work hubs, not countries ⁰

by Sara Bean • Cities, News, Property, Workplace

Highly-skilled migrants are increasingly attracted to cities and regions rather than countries, the latest Global Talent Competitiveness Index has revealed. Silicon Valley, Dublin, Helsinki-Espoo, Dubai [pictured] and London are the real hubs, rather than the United States, Ireland, Finland, the United Arab Emirates or the United Kingdom. The index, produced by Adecco Group, INSEAD and the Human Capital Leadership Institute, ranks the factors driving the international movement of skilled migrants of 109 countries, covering 87 percent of the global population and 97 percent of global GDP. Switzerland is in top place, followed by Singapore and Luxembourg in second and third place. At seventh place, the UK is ahead of Germany and France, but behind top performers such as the United States and Canada. It also trails behind in terms of gender diversity; ranking 56th for female graduates and 71st for the gender earnings gap.