Search Results for: Gen Z

Metrics can help businesses define their impact on the environment

Metrics can help businesses define their impact on the environment

impact on the environmentToday, companies cannot shy away from their responsibilities towards the environment. With Extinction Rebellion keeping the climate crisis firmly on the news agenda, and COP26 in November gathering more international attention than ever, how businesses approach and champion sustainability is under significant scrutiny. At a local level, organisations are being set targets by the UK government to commit to 100 percent renewable energy sources by 2050, and failing to meet these objectives could have substantial repercussions. (more…)

Demand for office space outside London could soar, claims KPMG report

Demand for office space outside London could soar, claims KPMG report

New ways of working will boost UK productivity and increase employment levels in cities outside of London, according to a new report from KPMG. And as businesses in some sectors prepare for employees to spend two to three days a week working from home on a permanent basis, demand for office space could see capacity potentially increase by as much as 40 percent, according to a new KPMG report, New working patterns and the transformation of UK business landscape.

The increased availability of office space in major business hubs is expected to attract businesses from smaller areas to fill up the vacant space, with cities like Manchester, Bristol, Glasgow, Leeds and Birmingham set to see employment rise by 5-10 percent as a result. This will have a significant knock on effect for demand for office space.

Areas in central London are also expected to benefit, as well as smaller towns and cities with a large proportion of the workforce working partially from home. Meanwhile, less dense business areas could see a decline in employment and may need to be transformed into more residential, leisure, retail and other uses.

As the business landscape consolidates, KPMG analysis also claims the change could boost overall UK labour productivity by 0.5 percent, thanks to businesses being able to tap into a larger pool of workers, suppliers, and clients.

Yael Selfin, Chief Economist at KPMG UK, commented on the report: “As we emerge from the pandemic, businesses need to adapt to the new environment they will be facing. Some may choose to relocate to larger business hubs to boost profitability, while others in less central areas could see their local customer base profile change. While the overall impact on the UK economy is expected to be positive, the changes ahead could prove challenging for those businesses already saddled by the pandemic.”

The report examines how local high streets in residential towns and neighbourhoods are expected to reap the benefits of greater homeworking through increased demand by residents during the week. But the impact on high streets across the UK is unlikely to be uniform. Some places may be hit relatively hard by the loss of office workers due to their proximity to a larger business hub, which may be compounded by the loss of commuter footfall among remaining employees due to the prevalence of working from home.

Yael Selfin added: “As people spend more time working from home and less time in the office, we could see a revival of the local high street.

“They will need to transform into places of purpose to meet demand for community-based services, hospitality, culture, as well as retail. High street offering in smaller towns and cities may need to become more focused on residents’ needs and less focused on businesses and commuters.

“This transformation will require local government, residents and businesses to work together to map their future shape and make concrete plans to support and enable the necessary changes to make the most of the new post-Covid business reality.”

Chris Hearld, Head of Regions at KPMG UK, commented: “Over time, a shift in business location could support the rise of several major business hubs across the UK. An increase in the concentration of businesses and workers has the potential to make those businesses located there more productive and enable these areas to serve as the engines of economic growth. This should also support the Government’s Levelling Up agenda. Cities like Manchester, Leeds, Birmingham, and Newcastle stand to benefit from such a consolidation of business locations. For this to happen they will need government to work closely with local leaders to ensure the transition is smooth and any barriers to growth are quickly ironed out.”

Hybrid working pushes up corporate Australia’s carbon emissions

Hybrid working pushes up corporate Australia’s carbon emissions

hybrid workingWhile lower occupancy has reduced the carbon footprint of many commercial office buildings amid the pandemic, higher CO2 emissions from hybrid working significantly outstrips these declines, according to data analysed by Cushman & Wakefield’s sustainability team. (more…)

Landlords and occupiers must work together to meet climate change challenge

Landlords and occupiers must work together to meet climate change challenge

flexible work and climate changeDisruption, cost, building style, individual goals, responsibility and shared space are cited as the key sustainability challenges for the flexible office sector, according to the latest research report from The Instant Group. But while there is still a lot of work to be done in the sector as the role of the workplace evolves, Instant says that flex operators have an opportunity to lead the way in meeting the challenge of climate change. By creating innovative, low-carbon buildings, curating a clear engagement strategy with occupiers and landlords, and ensuring a low-carbon ambition is understood and adopted by everyone, flex operators can be the first to implement highly sustainable workplaces. (more…)

Business confidence back to pre-pandemic levels, with fewer plans to shrink offices

Business confidence back to pre-pandemic levels, with fewer plans to shrink offices

CEOs of the world’s largest businesses are increasingly optimistic about the outlook for their own business, according to the latest KPMG CEO Outlook Survey. Despite a slower ‘return to normal’ than expected, their confidence in the global economy has returned to levels not seen since the start of the pandemic. The number planning to reduce their office footprints has fallen dramatically since the height of the pandemic, and instead there is a growing focus on introducing flexible working cultures. (more…)

Security and productivity main challenges for hybrid working

Security and productivity main challenges for hybrid working

hybrid working at homeWith a large number of firms now prepared to embrace a ‘hybrid working’ model, business leaders remain uncertain about how this may play out in practice according to a new report from Entrust called Securing the New Hybrid Workplace (registration). Respondents suggest that the most important challenges relate to the ongoing uncertainty about new Covid variants and the effect of hybrid working on security and productivity. As a result, while many are committed to changing their work culture, they are prepared to adapt their plans in response to any changing needs. (more…)

New air cleaning guidance for reducing Covid-19 spread

New air cleaning guidance for reducing Covid-19 spread

air cleaningTwo new pieces of guidance on reducing COVID-19 transmission through ventilation and air cleaning technologies have been issued by the Chartered Institution of Building Services Engineers (CIBSE). (more…)

What makes social enterprises work so harmoniously with business?

What makes social enterprises work so harmoniously with business?

Social enterprisesSocial enterprises tackle large-scale social problems by attracting resources and legitimacy from businesses – but social enterprises and businesses have two often contradictory aims; market success and social impact. (more…)

Brits feel stressed eight days a month, study claims

Brits feel stressed eight days a month, study claims

stressedA new study, commissioned by CIPHR, claims that most British adults (79 percent) feel stressed at least once a month, with the average being eight days a month. (more…)

Proportion of over 50s in work set to hit record high

Proportion of over 50s in work set to hit record high

The proportion of people over 50 in employment is set to hit 47 percent by 2030, following a 36 percent increase in the absolute number the last two decades, according to a new report from Legal & General Retail Retirement (LGRR) and the Centre for Economics and Business Research (Cebr). (more…)

Overseas investment in UK regional offices soars

Overseas investment in UK regional offices soars

overseasInvestments in offices outside the capital for the first half of this year hit £3.58bn – 18 percent above the long-term average for the first half of this year, Savills research claims. Overseas investors accounted for two-thirds of the £3.58bn of investments from January to June 2021 – 38 percent above the five-year average. (more…)

I’m a Luddite. You should be one too

I’m a Luddite. You should be one too

The leader of the Luddite movementI’m a Luddite. This is not a hesitant confession, but a proud proclamation. I’m also a social scientist who studies how new technologies affect politics, economics and society. For me, Luddism is not a naïve feeling, but a considered position. And once you know what Luddism actually stands for, I’m willing to bet you will be one too — or at least much more sympathetic to the Luddite cause than you think. (more…)