Search Results for: economic

An inability to develop skills at all ages leaves people unprepared for the future of work

An inability to develop skills at all ages leaves people unprepared for the future of work

by • News, Workplace

Efforts to fully realise people’s economic potential in countries at all stages of development are falling short due to ineffective deployment of skills throughout the workforce, development of skills appropriate for the future of work and adequate promotion of ongoing learning for those already in employment. These failures to translate investment in education during the formative years into opportunities for higher-quality work during the working lifetime contributes to income inequality by blocking the two pathways to social inclusion, education and work, according to the World Economic Forum’s Human Capital Report 2017. The report measures 130 countries against four key areas of human capital development; Capacity, largely determined by past investment in formal education; Deployment, the application and accumulation of skills through work; Development, the formal education of the next generation workforce and continued upskilling and reskilling of existing workers; and Know-how, the breadth and depth of specialised skills-use at work. Countries’ performance is also measured across five distinct age groups or generations: 0-14 years; 15-24 years; 25-54 years; 55-64 years; and 65 years and over.

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British organisations must step up to the challenges of artificial intelligence, robotics and automation

by • AI, News, Technology

A report published by the RSA think-tank has encouraged UK businesses to embrace artificial intelligence, automation and robotics. arguing that new technology has the potential to raise productivity levels, boost flagging living standards, and phase out ‘dull, dirty and dangerous’ tasks in favour of more purposeful and human-centric work. The Age of Automation report warns, however, that the UK is fast becoming a ‘laggard’ in the adoption of new machines and called on UK business leaders to accelerate their take-up of technology. The RSA found that sales of robots to the UK decreased over 2014-15, with British firms falling behind the US, France, Germany, Spain and Italy. A YouGov poll of UK business leaders, commissioned by the RSA, found that UK business leaders are currently wary of adopting AI and robotics, with just fourteen percent of firms currently investing in this technology or soon planning to. Twenty-nine percent of businesses believe AI & robotics to be too expensive or not yet proven and twenty percent want to invest but believe it will take several years to ‘seriously adopt’ the new technology.

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Shocking level of dissatisfaction amongst workplace occupants, finds Leesman

by • Facilities management, News, Wellbeing, Workplace design

There is a shocking level of dissatisfaction among the workforce according to a new global report from Leesman, which looks at how a poorly planned workplace can have a negative impact on employees, and inhibit their ability to perform. The findings show that while employers continue to face economic uncertainty, many of their employees are having to endure workplaces that fail to support their basic working day, obstructing their ability to positively contribute to business success.  ‘The Next 250k’, a global report based on the evaluation results from more than 250,000 employees across 2,200+ workplaces in 67 countries found that 43 percent of employees globally do not agree that their workplace enables them to work productively. In the UK, that figure jumps to 46 percent. Therefore, in line with ONS employment figures, for over 1.3 million UK workers, the office is simply not good enough.

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Brexit having a significant impact on London firms, but tech and media sectors growing

Brexit having a significant impact on London firms, but tech and media sectors growing

by • Cities, Facilities management, News, Workplace

With the overwhelming majority of London businesses employing staff from the EU (88 percent), Brexit is having a significant impact on the capital’s companies, according to the latest CBI/CBRE London Business Survey. Just under three quarters of firms (73 percent) view uncertainty over the UK’s role in Europe as their top concern, whilst a similar number (69 percent) have developed, or are developing, a contingency plan for when the UK leaves the EU. Indeed, over a quarter of respondents (27 percent) indicated they are planning to move part of their operations overseas. Close to two thirds (62 percent) have, or are developing, a strategy to address skill shortages that could be incurred if restrictions are placed on EU nationals working in the UK. However, two thirds of the 271 respondents to the Survey (65 percent) said that the tech and creative sectors were the principal sectors for the capital’s economic growth over the next five years, followed by professional services (49 percent) and FinTech (47 percent).

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London faces potentially large loss of office stock under office-to-residential conversion rights

London faces potentially large loss of office stock under office-to-residential conversion rights

by • News, Property

A total of 13.3 million square feet of London office space could be lost to office-to-residential conversions carried out under new Permitted Development Rights introduced in 2013, according to new research published by the British Council for Offices (BCO). This figure comprises of 7.5 million ft² of office space in London which has already been converted to homes since the introduction of the rights, with a further 5.7 million ft² of conversions in the capital having approval. An average of 2 million ft²/year has been converted each year since the rights were introduced in 2013, or 0.7 percent of the total London office stock.

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The mega trends that continue to reshape the workplace around the world

The mega trends that continue to reshape the workplace around the world

by • Events, Features, Property, Technology, Workplace design

Last week, over 600 workplace and property experts met in London at the CoreNet Global Summit 2017 to discuss some of the most important trends affecting the sector. The debates underlined one important fact about property and workplaces, which is how they are shaped by major, globalised events as much as they are local needs and the objectives of specific organisations. This quickly became evident on day one, which demonstrated how dramatic shifts in the geopolitical landscape, all of which are impacting corporate real estate – from America First to Brexit – remain key talking points for the industry. Opening speaker Linda Yueh (University of Oxford and London Business School) explored several possible scenarios, including how the focus of ‘Trumpism’ would have a significant effect on the U.S. role on the world stage, with the priority on the domestic economy leaving little scope for global trade. She also predicted that a ‘hard Brexit’, with no new trade deal with the EU, will be the most likely outcome for the UK’s withdrawal process; and that businesses will need to focus on alternative WTO rules as an urgent priority. Other impacting factors covered by Yueh included the rise of a dominant global middle class, and China’s need to rebalance its economic growth drivers.
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Growing numbers of people remain in employment past retirement age

by • News, Workplace

Both men and women are increasingly staying at work beyond the state pension age, UK government figures show. Data published by the Department for Work and Pensions (DWP) reveals that the average retirement age for men has now risen to 65.1 and for women 63.6. Over a twenty year period, this marks an increase of around two years for men and nearly three years for women. In both cases the average retirement age is now higher than the state retirement age. Some 10 percent of over-65s are currently in employment, according to the DWP data. However, the data also suggests that men are still retiring at an earlier age than they were in the 1950s, which is the starting point for the study.

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High expectations mask large gap between understanding of artificial intelligence and its implementation

High expectations mask large gap between understanding of artificial intelligence and its implementation

by • AI, News, Technology

New research published by the Boston Consulting Group and MIT Sloan Management Review suggests that there remains a wide gap between the understanding and adoption of artificial intelligence (AI) at most companies. The global study of over 3,000 firms and industry experts claims that almost 85 percent of executives believe AI will allow their companies to obtain or sustain a competitive advantage. However, only about one in five companies has incorporated AI in some offerings or processes. The new report claims to identify the key characteristics of AI leaders and offers companies a starting point for developing an AI strategy.

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Robots and climate change head list of concerns of young people worldwide

Robots and climate change head list of concerns of young people worldwide

by • AI, Environment, Wellbeing

The World Economic Forum has published the third edition of  what it claims is the world’s most geographically diverse survey of millennials, the Global Shapers Annual Survey 2017. Over 31,000 people aged between 18 and 35 responded to the survey, giving insights into their views on society, business, politics, the economy and technology as well as their workplace and career aspirations. The survey, which is available in 14 languages, surveyed young people from 186 countries and territories. According to the survey they are optimistic that technology will create more jobs than it destroys, although only a quarter would trust a robot to make decisions on their behalf.

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British public continues to be wary of driverless cars

British public continues to be wary of driverless cars

by • AI, News, Technology

The majority of British people (66 percent) would be uncomfortable travelling in a driverless car at 70mph, according to a new study by the Institution of Mechanical Engineers. The news follows last week’s announcement that the Government has awarded a contract to test platoons of driverless lorries on major British roads by the end of next year. According to the findings, younger people tend to be more accepting of the technology ? with 45 percent of 25-36 year olds saying they would be comfortable in a 70mph driverless car, compared to just 13 percent for 65-74 year olds and 8 percent for the over 75s. Women tended to be more cautious about the technology, with 72 percent saying they would be uncomfortable compared to 60 percent for men.

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Half of UK workers plan to leave their current job over the next year

Half of UK workers plan to leave their current job over the next year

by • Cities, Flexible working, News, Workplace

Half of UK workers want to move jobs over the next year

Fifty percent of full or part-time workers in the UK want to leave their current job in the next 12 months claims a new study conducted by Citation. London businesses will be the worst hit, with two thirds (64 percent) of workers in the capital planning on eyeing up other employers. Furthermore, those aged between 18 and 24 are most likely to jump ship (64 percent), and men are 10 percent more likely to leave than women. For two in five workers, it’s salaries that’s forcing them to look elsewhere – this is most likely to be the key driver for 18 to 34-year-olds. Better career prospects (22 percent), drab company cultures (16 percent), dislike of managers (11 percent) and loathing of their job (10 percent) were other reasons given for wanting to leave. With, according to a study by Oxford Economics the average cost of recruitment costing £30,000, UK business owners look set for a costly year ahead. More →

New eco coworking centre breaks ground in Oxfordshire

New eco coworking centre breaks ground in Oxfordshire

by • Architecture, Company news, Environment, Property

Construction has begun on a new zero carbon business centre at the Elmsbrook development in Bicester, Oxfordshire. PERCH, Elmsbrook is one of two new coworking spaces brought to Bicester by Cherwell District Council (CDC) and is subject to support from European Regional Development Funding. The 1,400 sqm building will span three floors and accommodate up to 125 people. The council claims it will be unique in ‘providing local office space for individuals and small businesses in a highly sustainable building, meeting the standards of the North West Bicester Eco Town’ scheme.

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