March 14, 2019
Neither bosses nor staff feel confident about future UK business environment
Two new reports published this week, show a lack of confidence amongst employers and employees within the UK business environment. The latest data in Gartner’s Global Talent Monitor report shows employee confidence in near-term business conditions and long-term economic prospects reaching an index score of 55.6 for the last quarter of 2018, a decline of 7.5 percent from an index score of 60.09 in 3Q18. These results follow a worldwide trend that has seen global business confidence sink to its lowest point since the fourth quarter of 2017. Meanwhile a survey of business leaders in the UK by management consultancy Lane4 found that bosses do not feel prepared to lead through future challenges like artificial intelligence and political volatility. (more…)
The recruitment and retention of manual and elementary service workers has become a significant challenge for UK employers, claims a new study. The research by Quinyx in collaboration with Development Economics and Censuswide, found that factors such as low pay and a lack of flexibility are key issue, resulting in nearly half (49 percent) of UK employers finding it difficult to recruit these workers, and the same percentage reporting challenges around retention. Issues with recruitment and retention were discovered to be most acute in industries such as hospitality, catering & leisure and retail. In addition, larger businesses (those with a workforce of 250 to 500) are more likely to face challenges compared to smaller-sized businesses. Regionally, businesses in London and the East of England are most likely to struggle to recruit workers into manual or elementary service roles. The findings come at a time when UK employers are expressing growing concern around access to manual and elementary service workers post-Brexit.
The volume of transactions in London’s West End was down 45 percent, the lowest for January in over 10 years. This is to be expected with the continued ongoing Brexit negotiations, according to Savill’s, who expect to see a lower volume of transactions complete over the first quarter of this year. Despite this, space under offer still remains well above the long-term average, with 237,000 sq ft going under offer during the month. This held the overall total at just over 1.2m sq ft, giving a strong indication that leasing activity over the course of 2019 will remain robust. Pre-lets accounted for 42 percent of the overall sq ft let in January and there were five transactions to the Insurance & Financial sector and four to the Tech & Media sector.
