November 6, 2018
Employers struggle to understand what motivates people in new generation of megacities
Mercer has published the results of an extensive study that examines the needs of workers in the world’s fastest-growing cities across four key factors – human, health, money and work. The study provides insight into the motivations of workers against the backdrop of fierce competition for their talent. The study, People first: driving growth in emerging megacities (registration required), is based on a survey of 7,200 workers and 577 employers in 15 current and future megacities across seven countries, namely Brazil, China, India, Kenya, Mexico, Morocco and Nigeria. As defined by the United Nations, these 15 cities will have a combined population of 150 million people by 2030 and share strong, projected GDP.
London’s office market continues to attract occupiers and investors, despite political and economic uncertainty JLL’s recent Central London offices seminar revealed. The event highlighted the strength of the capital’s office market where Central London has seen sustained levels of both leasing and investment activity so far in 2018 and JLL anticipates that the final numbers will match, if not exceed those recorded in 2017. Take-up of offices across Central London reached 8.3m sq ft at the end of Q3 2018, with 3.1m sq ft leased in the West End and 4.5m sq ft in the City.
Despite political and economic uncertainly and the aftermath of the global monetary crisis in 2008, London remains a leading global financial centre, with nearly a quarter (24 percent) of the capital’s office take-up attributed to banking and finance occupiers over the last ten years. London is by far the most active banking centre in Europe, according to the latest research from global real estate advisor CBRE. According to the report, 1.1 million people were employed in the UK financial services sector in 2017, of which 34 percent were in London. 
Although the majority of business leaders rate their business as efficient, nearly a third of respondents to a recent survey waste up to 65 working days per year on administrative tasks, with over half wasting the equivalent of a working month. Priority Software’s Business Process Efficiency Index 2018 suggests business leaders are struggling to take charge of company productivity; and while senior decision-makers expressed the desire to spend more time planning for the future of their businesses, they said too much time is currently occupied by administrative tasks.
