Search Results for: financial

March 20, 2014

Happiness and wellbeing more important to people than economy

Whatever their opinion on yesterday’s Budget, the vast majority of Britons think levels of happiness and wellbeing matter more than the size of the economy. In a YouGov poll commissioned to mark today’s United Nation’s International Day of Happiness, a majority (87%) of UK adults were found to prefer the “greatest overall happiness and wellbeing”, rather than the “greatest overall wealth” (8%), for the society they live in. And despite the Conservative Party’s much lampooned attempts to appeal to working class people who they presume enjoy bingo and beer, this majority was found to be broadly consistent across all regions, age groups and social classes. LSE economist and co-founder of Action for Happiness, Lord Richard Laya says the results show that more priority should be given to mental health and wellbeing. More →

March 20, 2014

CIBSE’s new website inspired by iconic new City of London building

by Sara Bean • Company news, Facilities management, Property

5 Broadgate in the City of London

The look and feel of the Chartered Institution of Building Services Engineers’ (CIBSE) new website, which was unveiled this week, has been inspired by a building. According to CIBSE the modular, precise design of 5 Broadgate, designed by Make Architects is echoed in the modern new design, improved user navigation and optimisation for mobile and smart devices of its new website. 5 Broadgate, the new City headquarters for financial services firm UBS, is a 700,000 sq ft, 12 storey building based on a single block form, featuring deep reveals to windows and openings that are designed to add to its overall feeling of substance. The new building will include up to four trading floors, each able to accommodate approximately 750 traders, allowing UBS to consolidate its London trading operations into one building, when fully occupied in 2016. More →

March 14, 2014

Might a lack of joined-up thinking undermine UK high-tech ambitions?

by Mark Eltringham • Comment, News, Property, Technology

Old Street: the UK’s tech epicentre

Over the past week both Prime Minister David Cameron and London Mayor Boris Johnson have offered up visions of economic success founded on new technology. Yet, as the CBI points out in a new report pinpointing the dearth of talent needed to make such dreams a reality, politicians often appear to ignore the realities of a situation. In its new report, Engineering our Future, the CBI calls for significant action to make a career in the key disciplines of science, technology, engineering and maths more attractive and easier to pursue. The report points out that these are the skills needed to underpin the Government’s stated focus on the tech, environmental, engineering and manufacturing industries that will shape the country’s future and is calling for a cut in tuition fees, new courses and inter-disciplinary qualifications to allow those skills to flourish.

March 14, 2014

Research finds the treadmill desk improves wellness and productivity

by Sara Bean • Facilities management, News, Workplace

Despite employers offering staff access to a gym to help promote wellness, actually getting people to use the fitness facilities is another matter. The answer could be to bring the fitness equipment directly to their office; as new research shows that employees who use treadmill workstations as they work not only receive physical benefits but also are more productive. According to a recently published study by researchers from The University of Texas at Arlington, the Mayo Clinic and the University of Minnesota, sedentary employees from a non-profit financial service company who had their current cubicles and offices outfitted with treadmill desks were found to burn an average of 74 more calories per day than they did before they received the treadmill workstation. They were also found to be more productive. More →

March 7, 2014

Large and small firms demand greater transparency in government procurement

by Mark Eltringham • Company news, Facilities management

The whole thorny issue of public sector procurement is never far from the news, but this week gained new prominence as one contractor walked out on a £1 billion contract because it felt the Ministry of Justice hadn’t grasped the idea of intellectual property amongst other things, while the Confederation of British Industry raised the stakes overall by claiming that a culture of secrecy in government purchasing continues to foster mistrust and waste taxpayers’ money. The CBI goes so far as to claim that even the most high profile botched contracts over recent years have not deterred the government from its move to inculcate a culture of opacity rather than transparency when procuring goods and services. It called on the Government to move to open book contracts so that all parties are aware of contract terms and margins.

March 5, 2014

New data suggests that London no longer belongs to the UK, but the World

by Mark Eltringham • Comment, News, Property

One of the subjects touched on in the first episode of Evan Davis’s BBC documentary series about the economic distinctions between London and the rest of the UK Mind the Gap was the impact of investment by the global super-rich into London property. At one point he asked the Malaysian investor behind the £8 billion Battersea Power Station redevelopment whether he’d considered investing in other cities in the UK. The response was a straight no, but the accompanying glance said rather more. London is no longer a British city but one that belongs to the world, it said, so any comparison with Manchester, Birmingham, Bristol, Leeds, Cardiff and Edinburgh is meaningless. You might disagree with this point of view, but a raft of new data appears to make it very evident indeed that London is now shaped by global plutocrats in a way that cannot be mirrored in the rest of the UK.

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.

March 3, 2014

World Green Building Council to quantify productivity benefits of sustainability

by Mark Eltringham • Architecture, Environment, Facilities management, Property

In an attempt to broaden the business case for sustainable building, the World Green Building Council has launched a new initiative to define the productivity and wellbeing benefits associated with low carbon and sustainable property. The initiative, launched ahead of this week’s Ecobuild conference in London, will be steered by a group of experts who will produce a final report later in the year. The premise of the study is to show that, as well as cutting costs and improving environmental performance, green buildings have a beneficial effect on the health, wellness and productivity of occupants. According to the announcement, around 85 per cent of an average organisation’s costs are associated with salaries and other costs of employment so a modest improvement in productivity can have a huge impact.

February 24, 2014

CIPD calls for a budget to address decline in UK productivity

by Sara Bean • News, Workplace

The CIPD has urged the Chancellor to focus on delivering a “Budget for Productivity” when he delivers his 2014 Budget on 19 March. The employment body has today put forward a package of proposals which call for labour market inclusion and the development of more productive, inclusive, and engaging workplaces. It is calling for a fundamental review of UK skills policy, together with a new focus on the workplace, the nature of jobs for the future, and how skills are being utilised. This, the CIPD argues, is critical if the necessary leap in productivity is to be delivered to boost real wages. A recent CIPD report found that already weak UK productivity has worsened as a result of a slow-down in job turnover during the recession and an extraordinary run of hiring that has preceded the recent return to growth. More →

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.

February 11, 2014

Mental illness costs the UK economy £70 billion each year, claims OECD

by Mark Eltringham • Knowledge, News, Workplace

According to a new report from the Organisation for Economic Co-operation and Development (OECD), issues related to mental health cost the UK around £70bn every year in lost productivity, benefit payments and spending on healthcare. The OECD’s Mental Health and Work report is an international initiative which has already produced reports over the last year exploring related issues in Belgium, Denmark, Norway, Sweden, Switzerland and now the UK. Forthcoming reports are due later this year for Australia, Austria and the Netherlands. The new UK report calls for employers to adopt better policies and practices to help people cope with mental health issues.

February 6, 2014

London office rents are set to reach historic high by 2018

by Sara Bean • News, Property

London office rents are set to reach an historic high by 2018, fuelled by demand from the technology, media and telecoms (TMT) sector. Demand for office space by technology and media firms across central London was more than double of the finance sector in 2013, with major deals signed by Google, Amazon, Facebook, Twitter, News Corp, and Ogilvy & Mather. According to data from Knight Frank, record levels of overseas investment are helping London build its reputation as a global hub. Geographically, it is not just the City and the West End that are seeing a massive surge in demand; take-up in Docklands increased by nearly 20 per cent last year, while completely new districts are emerging which include London Bridge, Battersea and Nine Elms. More →