Search Results for: economic

December 9, 2016

The workplace holds the key to enormous productivity boost, claims study ⁰

by Mark Eltringham • Facilities management, News, Workplace design

Companies could boost their productivity by between 1 and 3.5 per cent, adding as much as £70 billion to the UK economy, by focusing on how the workplace might be used to generate revenue, instead of regarding them simply as a cost to be managed. That is according to the newly published The Workplace Advantage report from The Stoddart Review based on a meta-analysis of 200 studies by workplace expert Dr Nigel Oseland. Taking a new approach to how space is used to help employees to be productive and changing who is responsible for the decisions is the first step. The Review, a collaboration between business leaders and workplace experts, found that only a little over a half (53 percent) of the UK’s office workers can say their workplace enables them to be productive. For the rest, a workplace that’s unproductive is also affecting their pride in the company, its image and culture. It found that too many businesses are prioritising filling up their offices with people rather than asking themselves ‘what will make their staff productive’. As a result, as many as 70 percent say their office is too noisy and they are disappointed by the lack of different types of workspace including communal areas and break-out zones.

December 9, 2016

Baby boomers better off at work but their wellbeing must be managed ⁰

by Sara Bean • Flexible working, News, Wellbeing, Workplace

A new report on the state of the public’s health and wellbeing, ‘Baby Boomers: Fit for the Future’, by Professor Dame Sally Davies, the Chief Medical Officer for England, advises that good quality work is good for baby boomers’ health and that employers have a role to play by helping their staff to remain healthy enough to stay in employment. According to the report on those aged between 50 and 70, there is an increasing body of evidence that for most people ‘good work’ is good for personal health, organisational productivity and economic prosperity. It also advises since many people define themselves and their position in society in terms of their job, staying in employment is also a significant contributor to self-esteem. The report also finds there is promising evidence that the continued social engagement that some people find in employment may defer the onset of cognitive decline and the risk of dementia.

December 6, 2016

Sleep deprivation hits workplace health and productivity harder than we thought ⁰

by Sara Bean • Flexible working, News, Wellbeing, Workplace

Politicians and corporate bosses who seems to pride themselves on being able to function on less than six hours of sleep a night are sending out the wrong message to the workforce, as recent research suggests that a lack of sleep among UK workers is costing the economy up to £40 billion a year, 1.86 per cent of the country’s GDP. According to researchers at the not-for-profit research organisation RAND Europe, sleep deprivation leads to a higher mortality risk and lower productivity levels among the workforce, which, when combined, has a significant impact on a nation’s economy. A person who sleeps on average less than six hours a night has a 13 per cent higher mortality risk than someone sleeping between seven and nine hours, researchers found, while those sleeping between six and seven hours a day have a 7 per cent higher mortality risk. The report, Why Sleep Matters – The Economic Costs of Insufficient Sleep, describes sleeping between seven and nine hours per night as the “healthy daily sleep range”.

December 5, 2016

Just one percent of UK firms are ready for the digital economy ⁰

by Mark Eltringham • News, Technology

A new study by Oxford Economics and SAP claims that just one in every 100 organisations in the UK is capitalising on the digital economy, significantly fewer than in comparable European countries such as Germany where the figure is more than 2 in 5 and Spain (22 percent). According to the study, the benefits of digital readiness include greater workforce diversity. The ‘digital winners’ defined by the report have higher female representation at mid-management level level and slightly more women overall. Four in ten of the study’s digital winners globally reported effective diversity programmes, compared to 36 percent of all companies in France, 33 percent in Russia, 30 percent in the UK and 23 percent in Spain.

November 30, 2016

Germany slides down rankings as one of world’s top employment talent hotspots ⁰

by Sara Bean • Knowledge, News, Workplace

Germany has slipped down the rankings as one of the world’s top employment talent hotspots, with other established economic powers such as the UK and France playing only minor roles in sustaining Europe’s pre-eminence. According to the World Talent Report by IMD Switzerland, Denmark, Belgium, Sweden and the Netherlands occupy the top five places in the rankings – the first two retaining their standings from last year. Finland, Norway, Austria, Luxembourg and Hong Kong complete the top 10, with Germany 11th, Iceland 16th, Ireland 18th, the UK 20th and France down in 28th. The objective of the World Talent Report is to assess how countries sustain the talent pool necessary for businesses to maximize their performances. Austria was one of the biggest movers over the past 12 months, climbing 11 places to break into the top 10, while Belgium rose by six positions to take third spot. By contrast, Germany slipped out of the elite, dropping from 7th to 11th, after being impacted especially heavily by the economic crisis affecting much of Europe.

November 28, 2016

Britain is missing a trick by not getting workplace training right ⁰

by Steve Hill • Comment, Workplace

New research from PwC highlights Britain’s failure to provide opportunities for young people. The study brings attention to the fact that the country ranks a lowly 21st out of 35 OECD members for its ability to get 15 to 24 year olds into work, education or training. If the UK could equal Germany’s low youth unemployment rate it would stand to gain around £45 billion, a 2.3 percent increase in GDP. The PwC report compares numerous countries, however Germany, Austria and Switzerland come out on top when it comes to providing career opportunities and workplace training to young people. Perhaps a clue to their success is that these nations all have so-called ‘dual education systems’ where work-based learning sits with equal stature alongside traditional academic study.

November 28, 2016

Employers urged to find ways of motivating and retaining older workers ⁰

by Sara Bean • Flexible working, News, Wellbeing, Workplace

Employees over 50 still have a huge amount to offer, and that is why employers need to develop and implement strategies to find ways of managing and retaining them. The results of a three year study – led by Nottingham Trent University with Workplace Innovation Limited – aimed at preventing the loss of vital knowledge, skills and experience of increasingly ageing workforces indicate that measures should be taken by employers to ensure older workers don’t become demotivated and head into early retirement. The first-of-its-kind study follows findings which reveal that by 2030 the number of people aged over 55 in high-income countries will have grown to 500 million. As part of the study, researchers found that interventions which seek to improve job design and the way in which work is organised can lead to better engagement and retention of older workers – as well as producing wider benefits for the business and its employees. The project investigated work-related predictors of retirement for the over 50s, finding that manageable job demands and more control over roles were key factors in delaying a decision to retire.

November 25, 2016

Reducing paper-weight is the key to maintaining a healthy business in the digital age ⁰

by Chas Moloney • Comment, Technology

The idea of creating a paperless office has been circulating for at least 40 years. Business Week famously forecast its arrival in 1975, predicting that paper would be on its way out by 1980 and dead by 1990. However, it’s almost 2017 and even with new and innovative digital technologies that enable us to operate in a highly connected world, the paper-light office is still far from our reality. Yet institutions from a variety of different sectors are leading the way when it comes to driving initiatives forward to going paperless and paper-light. For example, to address the need of approximately 12 million people in the UK that annually fill in a self-assessment tax form, plans have been put in place by the government to give individual digital accounts, aiming to allow more than 50 million individuals and small businesses to manage their tax affairs online. As a result, costs will be significantly cut by erasing expensive and laborious bureaucratic processes in the long-term, whilst fundamentally streamlining and simplifying intricate business services and applications.

November 24, 2016

Autumn Statement could undermine the growth of London’s tech firms ⁰

by Sara Bean • Cities, Facilities management, Legal news, News, Public Sector, Technology

Changes in business rates announced in yesterday’s Autumn Statement are likely to hit hardest the areas in the Capital such as Shoreditch and Fitzrovia where innovative tech companies are located, commented Jon Neale, head of UK Research, JLL. “The impact will no doubt undermine government plans to boost tech investment under its ‘Industrial Strategy’ announced earlier this week,” he said. “Meanwhile, office costs are high in London and post Brexit we need to minimise the risk that companies, will see cheaper continental cities such as Berlin as better bet place to set up shop.” He did add however that the promised “£1.3bn to improve roads and ease congestion is welcome and is likely to unlock development sites and promote economic development in many parts of the country. If the UK is to really address the challenges and opportunities of Brexit, investment in infrastructure needs to be more ambitious as well as more focused on an increasingly digital, hi-tech future. Green and smart city technology, new tram and underground networks and truly high-speed broadband would help provide precisely the platform UK business needs.”

November 22, 2016

Employers and ambitious employees combine to boost a buoyant job market ⁰

by Sara Bean • News, Workplace

The job market continues to remain buoyant in the face of economic and political uncertainties, and this is matched by a noticeable enthusiasm among employees to move jobs, suggests new research. The Totaljobs Employment Index, which measures activity across the totaljobs website, has shown that job postings on the site were up 7 percent year-on-year (YoY) in October. But this demand seems to have been outstripped by jobseekers’ needs, with the number of applications on the website up 14 percent YoY. This means that despite an increase in vacancies, the number of applications per job has soared 7 percent. This trend continues when looking at the last three months (Aug-Oct) compared with the same period in 2015, as jobs rose 11 percent and applications increased 12 percent. Broken down across the UK, the best performing regions in terms of growth in jobs posted include the North West (up 17 percent), the East Midlands and Wales (both up 13 percent).

November 16, 2016

Two thirds of female professionals’ jobs downgraded after career break ⁰

by Sara Bean • Flexible working, News, Workplace

A lack of flexible roles means that two thirds of professional women who return to work after a career break, work fewer hours than they prefer or go into lower-skilled or lower-paid roles, claims new research by PwC, in conjunction with Women Returners and 30% Club. 427,000 UK female professionals are currently estimated to be on a career break and likely to return to the workforce in the future. Of those, three in five (249,000) are likely to enter lower-skilled roles when they return to work. This has serious implications for earnings as this downgrading is associated with an immediate 12-32 percent reduction in hourly earnings, depending on whether the woman remains with the same employer. A further 29,000 women returning to part-time work would prefer to work longer hours but are unable to due to a lack of flexible roles. Altogether, two-thirds of (or around 278,000) women could be working below their potential when they return to the workforce.

November 15, 2016

London office construction increases but pace of new building slowing down ⁰

by Mark Eltringham • News, Property

Central London office construction has continued to rise over the past six months, reaching 14.8 million sq ft, and setting a new eight-year development high in the capital. The latest London Office Crane Survey by Deloitte Real Estate has recorded 40 new starts, adding 2.8 million sq ft into the development pipeline. Once again, the greatest number of new starts was in the City. Construction began on 14 new schemes, totalling 1.1 million sq ft, and increases the City’s development pipeline to 8.8 million sq ft. In contrast, the West End and Midtown submarkets have seen construction activity decrease by 25 percent and 20 percent respectively over the past six months. This is largely as a result of a number of projects completing and smaller schemes starting. For the first time, the crane survey also tracks construction activity in three additional locations: Vauxhall-Nine Elms-Battersea, White City and Stratford. These three areas boast 11 office schemes under construction and will deliver 2.9 million sq ft to the market, 65 percent of which is already pre-let.