Search Results for: economy

March 14, 2013

Communal workspace model making inroads in US offices

by Sara Bean • Facilities management, Knowledge, News, Technology, Workplace design

Costar

There is a growing trend in the United States to downsize office space, particularly amongst larger public firms, as they increasingly adopt policies for sharing non-dedicated offices and implement technology to support their employees’ ability to work anywhere and anytime. In a webinar presented to subscribers of commercial real estate intelligence group CoStar, Norm G. Miller, PhD, a professor at the University of San Diego, Burnham-Moores Center for Real Estate examined what would happen if office tenants used 20 per cent less of the US’ current office space, which has a total valuation of $1.25 trillion.

March 12, 2013

Employers vastly underestimate savings of freeing up desks

by Sara Bean • Facilities management, Furniture, News, Workplace

The latest salvo in the flexible working debate is a study which reveals that despite potential savings of around £34bn by freeing up desk space and working more flexibly, the majority of UK business leaders grossly underestimate what it is possible to save with two out of three (65 per cent) insisting they can’t lose any desks. According to a Vodafone UK survey one in five of those surveyed thought that their employees remained rooted to the old principle that all employees should have their own desk space (21 per cent) and flexible working ultimately leads to employees taking advantage of the system (23 per cent).

March 11, 2013

Hong Kong and London world’s most expensive cities for start ups

by Mark Eltringham • Knowledge, News, Property

A new report from property consultants Savills based on the total cost of setting up in business in the world’s major cities has today revealed that Hong Kong is the most expensive of the ten cities in which to locate, with London in second place and New York a close third. The total real estate cost of setting up business in all three cities is now almost three times that in the best priced world capitals, Shanghai and Mumbai. The report will be published in full on the 20^th March as The World Cities Review and includes measures of headline rent, tax and other charges.

March 7, 2013

UK workers’ real wages have fallen furthest

by Sara Bean • Legal news, News, Workplace

pay squeeze

British workers have seen the biggest fall in wage value among the world’s wealthiest countries, according to a TUC report on the global economic race published today. Between 2007 and 2011 – real wages fell by 4.5 per cent in the UK, falling at nearly twice the rate of Spain – the next worst-performing economy that year. However, as we reported last month lower wages appear to be contributing to higher employment rates in the UK compared to countries where pay rates are higher, such as Spain and Italy.

March 1, 2013

Working ‘proper hours’ may no longer be possible

by Mark Eltringham • Comment, Knowledge, Workplace

Today is the Trades Union Congress’s self-styled ‘Work Your Proper Hours Day’. Last week the TUC announced that it had used Government statistics to calculate that more than 5 million UK employees put in an average of over 7 hours of unpaid overtime a week, adding around £28 billion a year to the economy. Like me, you might be surprised the figures are that low and certainly I think a lot of people would be delighted to only put in an extra 7 hours a week. You might also be dismayed the TUC is advocating workers add less of their time into the economy by clocking off on time today. However, the bigger problem is surely with the language and ideas put forward by the TUC.

February 24, 2013

What gets measured in the workplace, gets managed

by Paul Statham • Comment, Facilities management, Technology, Workplace design

Are we finally seeing the first signs of the end of the downturn? Earlier this week the Government announced that UK unemployment had fallen. While I know there have been quibbles about what this all meant, other data from specific market sectors backs up the idea that we may be seeing some tentative causes for hope. One of the most heartening was last week’s survey from Randstad which reported growing levels of optimism among financial services firms about their prospects and the fact that the majority would be increasing headcount this year.

February 22, 2013

Brussels to challenge the UK in court on Green Deal VAT

by Mark Eltringham • Environment, Facilities management, Legal news, Lighting, News

The European Commission has confirmed intends to take the UK Government to court to force the Treasury to impose the full rate of VAT on energy-saving goods which are a key element of the flagship Green Deal energy efficiency scheme. The Green Deal is designed not only to improve the UK’s environmental performance but also boost the economy. The commission issued a statement yesterday confirming it would refer the UK to the EU Court of Justice over the practice of imposing reduced VAT rates on green goods which it claims break EU law and won’t deliver the aims of the government’s flagship Green Deal energy efficiency scheme.

February 21, 2013

UK employment rises but pay rates are squeezed

by Sara Bean • News, Workplace

pay squeeze

The UK employment rate is now higher than in the United States and is well above that in the Eurozone. However, pay levels remain low, with basic pay inflation now at just 1.3 per cent. According to the latest figures from the Office for National Statistics long-term unemployment fell by 15,000 this quarter to its lowest level for nearly a year. Nigel Meager, Director at the Institute for Employment Studies, commented: “The UK stands in contrast to developments in the Eurozone, where employment and unemployment figures are continuing to deteriorate.” More →

February 18, 2013

Flexible working bolstering employment growth in UK

by Sara Bean • News, Workplace

Jobs

Employment will continue to grow in the first quarter of 2013, despite stalled economic growth. According to the latest Chartered Institute of Personnel and Development (CIPD)/SuccessFactors Labour Market Outlook the proportion of employers that intend to increase total staffing levels remains positive for the first quarter of 2013. Gerwyn Davies, Labour Market Adviser at the CIPD, said: “While muted pay growth is playing a part, we also see continued evidence that employers are reluctant to lay-off skilled workers.” He added: “Some employers are clearly using flexible working and reduced hours to adapt to trading conditions.” More →

February 5, 2013

Cautious welcome for Prime Minister’s green speech

by Sara Bean • Environment, News

Green economy

Environmental experts have given Prime Minister David Cameron’s speech on Monday, when he reiterated his commitment to a green economy, a cautious welcome. The PM, who has come under some criticism for failing to follow up on his promise to make “this the greenest government ever” gave a short speech at the launch of the Energy Efficiency Mission at the Royal Society in London, where he underlined the Government’s commitment to energy efficiency and said that only the greenest and most energy efficient countries would win the global race. More →

February 4, 2013

Gulf construction and fit-out continues to boom, claims report

by Mark Eltringham • Architecture, Furniture, Knowledge, News, Property

The total value of building projects in Gulf Cooperation Council states will exceed $80 billion this year according to a new report from dmg::events* in conjunction with consultancy Ventures Middle East. The survey concludes that this year will see a near one fifth increase in the overall value of projects up from nearly $69 billion in 2012 to $81.6 billion in 2013. Meanwhile the interlinked market for interior contracting and fit-out in 2012 was valued by the report at $7.86bn – a 56 per centincrease on 2011. The UAE continues as the the region with the largest interiors spend ($2.83bn), followed by Saudi Arabia ($2.6bn) and Qatar ($1.49bn). More →

February 1, 2013

We shape the World’s cities, then they shape us

by Mark Eltringham • Architecture, Environment, Knowledge, Property

The story of the world’s cities is often told not in words but in numbers. This is especially the case with the megacities – those with a population in excess of 10 million – which obtain enough critical mass not only to produce eye boggling statistics but also to distort the fabric of whole regions and change the way people live and behave. This is true for the established megacities of London, New York and Tokyo as well as the emerging global metropolises in Sao Paolo, Beijing, Mumbai, Shanghai, Cairo and Istanbul.