June 21, 2019

Flexible office revolution shows no signs of slowing

by Neil Franklin • News, Property, Workplace design

The latest research from JLL, Disruption or distraction, where next for the UK flex market sector, claims that the real revolution of flexible office space lies in the variety of solutions now on offer and that the market has seen more changes over the last three years than the previous 30 combined as it continues to grow and evolve. JLL’s research claims that over the next five years more than 10m sq ft will be added to the stock in the key UK cities and flex space will account for over 8.5 percent of the total office stock by 2023. More →

June 21, 2019

HSBC strikes 1000 desk deal with WeWork

by Mark Eltringham • Coworking, News, Property

HSBC has agreed a deal to locate more than a thousand members of London staff in a WeWork coworking space in London. WeWork confirmed to the Financial Times that the bank has signed up for 1,135 desks at its new building at 2 Southbank Place. The move is further proof of how coworking has become a mainstream option for large corporations as they seek to get more value our of their property and introduce new working methods. HSBC’s corporate real estate team and other staff already work from coworking spaces, but the new deal marks a step change in its strategy.

Image: WeWork’s existing coworking space at Waterloo

June 20, 2019

EDGE enters UK market with project on South Bank

by Neil Franklin • Company news, Property, Technology

EDGE Technologies, the specialist developer best known for its groundbreaking The Edge building in Amsterdam has announced its entrance into the UK commercial property market with the £50m acquisition of 60 St Thomas Street on London’s South Bank. The acquisition is subject to planning permission, which EDGE will pursue in partnership with the seller. The partners will consult closely with Southwark Council and the local community. After completion of the development – four to five years from now – 60 St Thomas Street will be an optimised office environment and a new workspace fit for the future. More →

June 20, 2019

London remains second most expensive office market

by Neil Franklin • News, Property

Hong Kong Central and London’s West End held onto their top spots in a ranking of the most expensive office market locations in the world at $322 and $220.70 per sq. ft. per year respectively according to the latest Global Prime Office Occupancy Costs report from CBRE. The ten most expensive markets were the same markets as last year, though several have changed positions within the top category. The biggest gainer within the top 10 was Midtown Manhattan ($196.89) in New York City, which climbed to the fourth most expensive market this year from the sixth last year. London City retained its number 10 position on the list at $139.75 per sq. ft. More →

June 20, 2019

The case for a shorter working week

by Shainaz Firfiray • Comment, Wellbeing

UK employees have the longest working week compared to other workers in the European Union. But, despite the long hours, recent studies have shown this does not make the UK a more productive nation. An analysis by the Trade Union Congress on working hours and productivity found that, while UK full-time staff worked almost two hours more than the EU average, they were not as productive as staff in Denmark who worked fewer hours in the average week. More →

June 18, 2019

Majority of SMEs lack a health and wellbeing strategy

by Marie Hillen • News, Wellbeing, Workplace

New research from AXA PPP healthcare claims that eight out of ten (82 percent) SME business leaders don’t have a health and wellbeing strategy in place. The same research found two-thirds (24 percent) report experiencing job-related stress or anxiety and just 15 per cent believe their company provides a culture which supports their mental health. The research also claims nearly half (46 percent) of employees working in small and medium sized businesses continue working when they’re feeling unwell and less than a quarter (24 percent) see a GP because they worry about taking time off work. One-fifth (18 percent) feel guilty for taking time away from their desk for lunch and more than a quarter (27 percent) send and receive emails outside of work hours.

June 18, 2019

Coworking is reshaping office market in London

by Neil Franklin • Coworking, News

The flexible office and coworking markets have grown rapidly over the last five years, with more than 4 million sq ft leased to flexible office providers in Central London, according to a new report from digital office broker Hubble in partnership with JLL. Despite WeWork dominating the headlines and pioneering the uptake of coworking, the London market remains highly fragmented, with more than 150 providers offering some form of flex or coworking space in more than 650 separate locations. Flexible offices are projected to grow to a 11 percent share of overall office stock in London by 2023. At the end of 2018, flexible offices had a 6.3 percent share of the Central London market (14.7 million sq. ft.) and this number is set to keep growing. More →

June 17, 2019

Worker confidence in the UK jobs market falls

by Neil Franklin • News, Workplace

The Monster Jobs Confidence Index, published for the first time by jobs board Monster.co.uk and the Centre for Economics and Business Research (Cebr), claims that workers and job seekers confidence in the UK labour market has dropped by 10 percent, from 77 percent to 67 percent. The report defines confidence as how an individual feels about their ability to find a suitable job in the short-term, realise their career potential and build a better future for themselves.

June 14, 2019

Help on returning to work after cancer

by Christine Husbands • Comment, Wellbeing

Macmillan estimates that more than 125,000 people of working age are diagnosed with cancer in the UK every year, and the number of people surviving cancer will rise by approximately 1 million per decade and reach 4 million by 2040. With more people choosing to work longer, there are likely to be many cancer survivors choosing to return to work. Macmillan have also identified that over 80 percent of those who were working when diagnosed with cancer thought it important to continue working, but 47 percent had to give up work or change their roles as a result of their diagnosis. So helping people to return to work after cancer is an important issue for employers. More →

June 13, 2019

AI is the biggest business disruptor on world stage

by George Eltringham • News, Technology

AI and its transformational effect on the global business landscape was the dominant theme on day one of the UK Asia Tech Powerhouse Conference. Transforming urban mobility thanks to rapidly growing cities, and how Asian cities are leading the march towards a digital future also featured in the first of the two-day event, with influencers from across trade, investment and technology, including Singaporean entrepreneur Annabelle Kwok and Mark Purdy, Accenture’s Group Chief Economist and Managing Director at Accenture Research. More →

June 13, 2019

Digital transformation plans ignoring role of HR

by Neil Franklin • News, Technology

HR must enhance its reputation amongst senior management teams and business leaders if it is to take a leading role in driving the success of digital transformation projects, claims a new report from MHR. The poll of 250 business leaders at organisations with more than 1000 employees claims that just 5 percent of respondents felt the HR department should be the people to lead or manage a digital transformation project. The full results of the survey are explored in MHR’s report ‘Businesses are not ready to transform (but they don’t know that)… which was launched at the Festival of Work in London this week. More →

June 11, 2019

Moving the wellbeing debate beyond a fixation on stress

by Matt Weston • Comment, Wellbeing

The world of work is evolving. Geopolitical change, digitalisation of the workplace and increased regulation are just some of the changes that businesses and their employees have to navigate. This disruption can feed into employee stress levels, impacting their happiness at work. Maintaining good mental health in the workplace is vital for employee wellbeing – it’s a key factor in employee retention and in turn, business success. However, it has been reported that between 2017 and 2018, 15.4 million working days were lost to work-related stress.