Search Results for: economy

December 11, 2014

Corporate real estate executives planning for growth finds CoreNet survey

by Sara Bean • Facilities management, News, Property

Global corporate real estate executives report that economic conditions improved again in the third quarter and they remain optimistic about economic growth. This is according to the most recent findings of the CoreNet Global Economic Index; a statistical measure that reveals trends and confidence levels within the corporate real estate (CRE) world. The survey, which takes advantage of the unique perspective that CRE executives have of the overall economy was conducted among a targeted group of 220 senior level managers of corporate real estate at Fortune 1000 companies globally. The survey measures the overall optimism that these executives have with respect to their own companies, as well as the economy at large. There were positive responses on their own company’s prospects for growth and expansion: many were likely to increase their real estate portfolio as a result of more employees and there was optimism regarding the global economic outlook over the next quarter.

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December 10, 2014

‘Empty desks’ costing UK business 18bn a year, as job vacancies go unfilled

by Sara Bean • News, Workplace

The economic impact of unfilled job vacancies on the UK economy may be leading to a staggering annual cost of over £18bn. Research by job site Indeed, claims that falling unemployment and robust job creation is resulting in many businesses finding it a challenge to locate and secure the right employees. This inability to find and recruit the right hire for a role is impacting on both the business itself and the wider economy in two major ways. For the employer, failing to effectively resource a business slows both production and profits, while in the wider economy unearned wages reduce consumer spending power and contribution to economic growth. ‘Empty desks’ in the real estate sector are having the greatest impact on the UK economy, due to high levels of contributed economic value (the goods and services that could be produced if the position were filled).

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November 25, 2014

UK business centres market continues to flourish, claims BCA and IPD report

by Mark Eltringham • Flexible working, News, Property

A new report has revealed just how important the growing business centres market is to the UK economy. According to the report from the Business Centre Association and Investment Property Databank the market is now comparable to the City of London both in terms of the number of people employed and the amount of office space it occupies. The report also outlines both the market’s robust health during the recent economic downturn and ongoing growth in response to increasing customer demand and the changing market for office space. The sector now boasts that it provides a home to some 80,000 businesses employing more than 400,000 people who occupy around 70 million sq. ft. of space including landmark developments such as the Regus No 1 Poultry centre in the City of London (above) and generate around £2 billion of income for the economy. The report, produced in conjunction with Snapdragon Consulting, found that the serviced office sector in the UK now represents around one third of the global market.

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November 19, 2014

Group of UK’s major employers urges widespread uptake of flexible working

by Mark Eltringham • Facilities management, Flexible working, News, Technology, Workplace design

Some of the UK’s largest companies are jointly spearheading the call for the greater uptake of flexible working. On Monday, the 22 companies that make up the Agile Future Forum highlighted the role that factors such as new technology, changing demographics and globalisation are having on the business case for the adoption of agile working practices. Firms such as John Lewis, ITV, Ford, Tesco, Lloyds, BT and B&Q are championing the cause of agile working as a way of running a business that is competitive, productive, attractive to employees and able to compete on the world stage. The AFF, set up by former Lloyds chairman Sir Win Bischoff, used the event to publish its latest research to highlight the ways in which it believes the UK is one of the best-placed countries to foster flexible working in spite of a range of recalcitrant and restrictive working practices. The event cited a recent CBI survey which found that while 97 per cent of UK businesses agree that agility is key to growth, many still offer a limited range of flexible working practices.

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November 13, 2014

Workplace Week focuses on the office and individual productivity in all its forms

by Cathy Hayward • Events, Facilities management, Flexible working, Workplace, Workplace design

The holy grail of improving people’s productivity was the focus of this year’s Workplace Week, which took place last week from 3-7th November and raised more than £12,500 for Children in Need. The annual event organised by AWA and designed as a celebration of workplace innovation, included visits to 11 workplaces showcasing the latest techniques to get people performing at their very best, a day-long convention and a series of Fringe events. Andrew Mawson, who heads up AWA, opened the convention by setting the discussion in context. “We have maximised asset productivity by getting more people into buildings, and therefore working a building harder. But we need to focus on human productivity. If each organisation could make each person just 5 per cent more productive, that would have a major impact both on that organisation and the wider economy. In the knowledge economy we need to get the very best performance out of each and every brain on the payroll and to create the conditions that consciously support that.

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November 5, 2014

Why isn’t the UK Government acting to curb the scandal of fake furniture?

by Tony Ash • Comment, Furniture, Workplace design

The real thing

If you’ve watched a DVD recently, it probably started with an advert highlighting that ‘you wouldn’t steal a handbag, so why would you steal a DVD?’ The point it’s making is that it’s unacceptable to buy poor quality copies of DVDs. They’re fake products and there’s a stigma attached to them, in the same way there’s a stigma attached to buying a fake watch, handbag or a forged piece of art. That’s how things should work, but this isn’t yet the case for fake furniture in the UK. And the reason for this is government inaction that is not only allowing a market for poorer quality replicas of iconic designs to exist, but to thrive. In April 2013 the UK government passed the Enterprise and Regulatory Reform Act, a section of which closed a loophole in British intellectual property law. Under the new regulations, artistic designs for products such as furniture would be protected for up to 70 years after the designer’s death. Before the Act was passed, if more than 50 copies of a design were made, it was considered to be mass produced and was subject to only 25 years’ protection.

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November 5, 2014

Failure to adopt strategic facilities management costs UK £1bn annually

by Mark Eltringham • Facilities management, News, Public Sector

A new report from the Royal Institution of Chartered Surveyors (RICS) claims that over a quarter of UK organisations are failing to adopt a strategic approach to facilities management. For those firms without this approach, the annual average cost is calculated by the report’s authors as £120,000, suggesting a total cost to the economy of nearly £1 billion. The claim is based on a study of around 700 organisations in both the public and private sector and across a range of organisational types and sizes. Around half of those with a ‘dedicated FM programme’ said that doing so had saved their organisation money, 59 per cent reported an increase in productivity, a fifth (21 percent)reported a drop in absenteeism and nearly half (49 percent) claimed it had made them more attractive to customers. The best results were recorded in the public sector with 70 per cent saying strategic facilities management had increased productivity and 71 percent claiming they had seen an increase in employee engagement.

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November 4, 2014

Built environment argues economic benefits of meeting climate change challenge

by Sara Bean • Environment, Facilities management, News

Following the publication of the latest Intergovernmental Panel on Climate Change (IPCC) report, warning about the effects of global climate change; the chief executives and senior leaders of 18 major businesses in the construction and property sector have written an open letter, published in The Daily Telegraph to highlight the economy opportunity presented by climate change and to defend the UK’s ground breaking Climate Change Act. In the letter, which includes signatories from Land Securities Group, BAM Construct and Balfour Beatty, the leaders warn that “undermining of the Climate Change Act is deeply unhelpful, and creates uncertainty”, and that “it should continue to be the central framework against which to deliver clear and consistent policy. It states: “Our businesses are convinced that Britain can and should be a world leader, and that far from being a burden to UK Plc, clear commitment to tackling climate change will open up opportunities for businesses both at home and abroad.”

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November 4, 2014

Musculoskeletal disorders leap by a fifth, according to latest HSE data

by Justin Miller • News, Wellbeing, Workplace, Workplace design

While the UK remains one of the safest places to work in Europe, work related ill health continues to rise for British employees according to the latest data from the Health and Safety Executive. The HSE claims that there were some 28 million days lost over the last year, costing the economy over £14 billion. While the most dangerous professions continue to be construction, agriculture and manufacturing, the report found that over two thirds of days lost (20 million) and some £9 billion can be attributed to a number of well defined causes rooted in the modern workplace; musculoskeletal disorders, stress, anxiety and depression. The HSE study claims that around 80 per cent of new work-related illnesses were attributable to these conditions. Of the 535,000 new illnesses reported in 2013/14, 184,000 were musculoskeletal disorders and 244,000 were related to stress and depression. There are now over half a million (526,000) people with self-reported cases of musculoskeletal disorders in the UK, up by 20 percent since figures were last reported in 2011/12.

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October 17, 2014

Google and Deloitte set out blueprint for collaborative work in Australia

by Mark Eltringham • Flexible working, News, Technology, Workplace design

Deloitte Digital has launched the final version of its report into the collaborative economy carried out on behalf of Google Australia. An interim report, published in July, estimated that the benefits of collaboration to the Australian economy is already $46 billion and could rise to $56 billion. The report also claims that collaboration could help to address specific structural problems including falling productivity and a comparative lack of innovation. The study claims that the average Australian worker spends just under half of a typical working day interacting with other people but that there remains considerable room for improvement in the way those interactions take place. The final version of the report also includes a toolkit to help individuals and organisations to gauge their level and success of their collaborative work. Tellingly, the test is weighted one-third to workplace design, one-third to technology and one-third to culture and governance.

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October 13, 2014

HS2 will generate £40 billion in economic benefits and a surge of investment in office space, claims new report

by Mark Eltringham • News, Property, Public Sector

According to a report published today in The Daily Telegraph, the UK’s new HS2 high speed rail network will encourage housebuilding and commercial property development as part of a £40 billion boost to the UK economy. The report, produced by consultants EY, also suggests that new developments around the main stations along the route, including Birmingham, Manchester and West London would generate some £1 billion a year before the route’s completion in 2035, including some 850,000 sq ft of new office space. The newspaper claims the full report will be released by the Government this week as part of its campaign to win support for the controversial scheme and that its content will be a major talking point at this week’s MIPIM which takes place for the first time in London. It was revealed recently that the Government now expects the scheme to cost £73 billion, a figure which critics, including Mayor of London Boris Johnson claim could be spent more wisely.

October 8, 2014

Two thirds of the world’s workers would move to another country to find a better job

by Mark Eltringham • Knowledge, News, Workplace

Almost two thirds of job seekers worldwide say they would be willing to move abroad for work, a ‘startlingly high proportion’ that says a lot about the evolving marketplace for talent, according to a new study by The Boston Consulting Group (BCG) and The Network, a global alliance of more than 50 recruitment websites. The report claims that the proportion of people willing to seek a better job abroad is particularly (and unsurprisingly) high in developing and politically unstable countries. But there is also a very high willingness to work abroad for workers in countries that don’t face such challenges. For example, more than 75 percent of survey respondents in Switzerland, more than 80 percent of respondents in Australia, and more than 90 percent of respondents in the Netherlands say they would consider moving to another country for work, according to the report, Decoding Global Talent: 200,000 Survey Responses on Global Mobility and Employment Preferences, and their preferred destinations are London, New York and Paris.