Search Results for: economy

June 5, 2017

Taking action on climate change will boost economic growth, claims report ⁰

Integrating measures to tackle climate change into regular economic policy will have a positive impact on economic growth over the medium and long term, according to a new OECD report prepared in the context of the German Presidency of the G20. Investing in Climate, Investing in Growth claims that bringing together the growth and climate agendas, rather than treating climate as a separate issue, could add 1 percent to average economic output in G20 countries by 2021 and lift 2050 output by up to 2.8 percent. If the economic benefits of avoiding climate change impacts such as coastal flooding or storm damage are factored in, the net increase to 2050 GDP would be nearly 5 percent.

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June 2, 2017

Google submits revised plans for vast new campus in London ⁰

by Mark Eltringham • News, Property, Technology, Workplace design

Google has submitted a revised application for planning permission to Camden Council for its proposed £600 million King’s Cross Campus in London. This building will be the first, wholly owned and designed Google building outside the United States. Construction on the purpose-built 11-storey building, comprising of more than 1 million square feet, of which Google will occupy 650,000 sqft, will commence in 2018. The building, designed by Heatherwick Studio and Bjarke Ingels Group (BIG) will feature a natural theme, with all materials sourced through Google’s healthy materials programme. This new building, combined with the current building at 6 Pancras Square and an additional third building, will create a Google campus with the potential to house 7,000 Google employees. The new building is being developed from the ground up and will contribute to the Knowledge Quarter and King’s Cross’s growing knowledge-based economy. The original plans for the building from 2013 by AHMM had been put on hold, although some features such as a running track remain.

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June 2, 2017

SME staff admit to faking sick days to help cope with an “always on” culture ⁰

by Sara Bean • Legal news, News, Wellbeing, Workplace

One in seven SME employees admit to feigning illness and taking at least three bogus sick days off each year in order to cope with a culture which expects them to be available all the time. Nearly half (42 percent) of staff who are pulling sickies do so because they need a rest as just under half (46 percent) of SME employees bother to use up their full holiday allowance. At the end of 2016, SMEs employed 15.7 million people and accounted for 99 percent of all private sector businesses. Due to the piling pressure on small business owners, half (51 percent) of the 1,500 British SME workers and business owners who were polled by breatheHR confessed to contacting an employee while they were on sick leave – this number jumps to 72 percent for younger business owners (18-34-year-olds) showing clear generational differences. Additionally, three-quarters (71 percent) of business owners would expect employees to work if they had a common cold. Why? Because absenteeism impacts the bottom line – 85 percent of business owners say it has an economic effect.

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May 31, 2017

Pressure group calls on incoming UK government to create a new contract with the self employed ⁰

by Neil Franklin • News

IPSE, the association set up to represent the needs of the UK’s self employed and freelance workforce, has released a manifesto ahead of the general election. In A Contract with the Self-Employed, IPSE details all the policies it wants to see the incoming government implement for the 4.8 million people currently defined as self employed or freelance. In conjunction with the ongoing Taylor Review into modern employment practices, the manifesto calls for a statutory definition of self-employment to end widespread confusion and ensure self employment remains an attractive and attainable career choice. The manifesto calls for a strategic review of the tax system – which, in its current state, is based upon the traditional employer/employee model. As self-employment continues to boom, the government needs to supplement this 21st century way of working with a fairer, more efficient, 21st century tax system. Included in the review, it has asked the government to make careful considerations before rolling out IR35 measures in the private sector, create a bespoke tax system for freelancers, simplify Making Tax Digital and maintain the current rate of NICs.

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May 31, 2017

Brexit uncertainty fails to impact London office demand, as occupiers push ahead with relocations ⁰

by Sara Bean • News, Property

Since the announcement in June last year that Britain would be leaving the EU as a result of Brexit, there has been a widespread assumption that occupier demand, and hence wider market confidence in the commercial property market, would be knocked. Yet that does not seem to be the case, according to a study by real estate advisers Knight Frank, who have tracked financial and TMT requirements over the last 12 months, and compared them to key years in the property cycle. The study claims that the property market has mirrored the wider UK economy, which has proved resilient following the vote to leave the EU. Firms have reported a shortage of skilled workers across a range of industries including IT, accountancy and engineering. Demand for staff is growing within all sectors and all regions of the UK, but there are fewer and fewer people available to fill the vacancies. A survey of UK CEO’s conducted by PWC at the start of the year reported that six in every ten respondents expected an increase in company headcount during the course of the year. Furthermore, a number of large international firms have acquired new offices, and many companies expanded across Central London including Expedia, WeWork, HSBC Digital and Zoopla.

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May 26, 2017

An overdue attempt to connect smart buildings with smart people ⁰

by Xenia Kingsley • Comment, Property, Technology

As first events go, the inaugural outing for the Smart Buildings series of conferences succeeded in delivering a full day of insightful presentations and debates, with a highly engaged audience of industry experts. A theme to emerge early on – in the opening remarks by Worktech Academy’s Jeremy Myerson in fact, was that the concept of ‘smart buildings’ is far from new. Depending who you ask, the idea goes back to the 90’s, the 80’s or even the 60’s. So why have we waited until 2017 for a conference on the topic? Many of the presenters agreed this is because we have only recently entered a new technological phase – the ‘plateau of productivity’ of Gartner’s Hype Cycle, as Owen King of Unwork pointed out – the time when widestream adoption of a technology kicks in and its viability becomes more clear. Indeed, the benefits of smart buildings are now widely regarded to fall into six categories; sustainability, productivity, talent, wellbeing, brand and cost control. And, while sustainability was the topic du jour at similar events six or seven years ago, the industry focus has shifted towards productivity and wellbeing.

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May 24, 2017

Suppressed global productivity levels weigh down on personal wealth ⁰

by Neil Franklin • News, Workplace

The slowdown in global productivity – already underway before the last economic crisis – combined with sluggish investment, continued to undermine rises in economic output and material living standards in recent years in many of the world’s economies, according to a new report released by the OECD. In its latest Compendium of Productivity Indicators, the OECD also highlights a decoupling between productivity growth and higher real average wages in many countries, resulting in continued declines in labour’s share of national income. The report claims that the contribution of labour utilisation (hours worked per capita) to GDP growth has risen markedly in a number of countries, notably in the United Kingdom and the United States. However, rises in labour utilisation reflect two opposing effects: higher employment rates but lower average hours per worker, which points to more part-time working, often in low productivity jobs.

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May 23, 2017

Financial problems for over half of employees are affecting their work performance ⁰

by Sara Bean • News, Wellbeing, Workplace

One of the biggest concerns cited by many of those being polled on their views during the General Election campaign has been the high cost of living compared to wages. Now a new report claims that over half (55 percent) of employees are experiencing financial problems, which are affecting their behaviour, relationships and ability to perform at work. Although the nationwide study of the financial wellbeing of UK workers The DNA of Financial Wellbeing 2017 report, claims that nearly a third (32 percent) cite finance as their biggest concern; 66 percent of HR directors, think that financial worries are not of concern to their employees. The findings from Neyber, a financial wellbeing company, shows that 47 percent of workers are borrowing money to meet their basic financial needs, with 25 percent borrowing on a credit card, followed by 13 percent through a bank overdraft and 13 percent borrowing from friends and family. Meanwhile, an increase in so-called zero hour contracts means that nearly half (47 percent) of workers in the North and Midlands have an income fluctuation of more than 10 percent each month.

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May 19, 2017

Inventing the Future: techUK launches 2017 manifesto ⁰

by Neil Franklin • News, Technology

techUK, the association that represents a large part of the UK’s technology sector, has published a new manifesto ahead of the General Election which it claims ‘sets out a bold and ambitious vision for the next Government to create a modern and dynamic digital economy that works for everyone’. The organisation has set out a series of recommendation that aim to show how Britain can remain at the forefront of global tech innovation while it navigates Brexit and other forces. Its objectives include: boosting the UK’s productivity; harnessing digital transformation to build a smarter state; creating new jobs and a new skilled, adaptable workforce; and protecting and empowering people in a digital age.

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May 19, 2017

Only one in four people with a long-term mental health issue are in work ⁰

by Neil Franklin • News, Wellbeing

Only a quarter of people with a long term mental health issue are in work, according to a report published by the TUC to coincide with its Disabled Workers’ Conference yesterday. The report, Mental health and employment, contains new analysis of official employment statistics, which finds that while 4 in 5 (80.4 percent) non-disabled people are in work, people with mental illness, anxiety or depression have substantially lower employment rates. Only one in four (26.2 percent) people with a mental illness lasting (or expected to last) more than a year are in work. Less than half (45.5 percent) of people with depression or anxiety lasting more than 12 months are in work. The TUC is concerned that this suggests employers are failing to make adequate changes in the workplace to enable people with mental illnesses, anxiety or depression to get a job, or stay in work. Mental health problems can often be ‘invisible’ to others, so a lack of mental health awareness amongst managers and employers is also likely to be a factor.

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May 18, 2017

A mixed forecast for the accountancy profession: Brexit highs and digital lows ⁰

by Mike James • Comment, Flexible working, Technology

The accountancy profession is facing an uncertain future in the traditional sense. The question of automation is on everyone’s minds, as are the complexities of Brexit. On the one hand, news from the Association of Chartered Certified Accountants (ACCA) suggests accountants will be in high demand during the Brexit process, on the other, gloomy reports of job automation suggest accountants will be one of the professions hardest hit in Britain’s long-term future. The implications of Brexit are yet to be uncovered. Clearly, Brexit will be a complex process and businesses will undoubtedly require the strategic insight and rigour of the accountancy profession. We have accepted that exiting the EU will likely be a complicated drawn-out process. The effects on business will be bound up in complex trade deals, government policies and the ratification of EU laws affecting business in the UK.

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May 17, 2017

UK employees three times more likely to work when ill than to pull a sickie ⁰

by Sara Bean • News, Wellbeing, Workplace

Seven in ten UK employees – equivalent to 18 million nationally – have gone to work feeling unwell when they should have taken the day off, while less than a quarter (23 percent) say they have taken a day off work sick when they were not actually unwell, indicating that UK employees are three times more likely to go to work unwell than they are to ‘pull a sickie,’ a new report claims. The fourth edition of the Aviva Working Lives Report, which examines the attitudes and experiences of employers and employees on issues affecting the present and future of the UK workplace – also carries a wake-up call to businesses, as more than two in five (43 percent) employees feel their employer puts the results of the company ahead of their health and wellbeing as more than two in five (41 percent) say their work will pile up if they are off sick.