Search Results for: economy

February 23, 2016

Belief in a corporate wellness narrative is more important than action ⁰

by Mark Eltringham • Legal news, News, Wellbeing, Workplace

The complexities of wellness at work are laid bare in a new report from the US based pressure group Global Wellness Institute. The most eye-catching conclusion from The Future of Wellness at Work study is that it’s not actual wellness programmes that do most to boost worker health and productivity, but whether employees identify that company as ‘caring’. The report claims that ‘unwellness’ now costs the US around $2.2 trillion each year, equivalent to 12 percent of GDP. The report is published alongside a white paper which lays out the findings from a survey of American employees. Unlocking the Power of Company Caring gauges how employees feel about their work culture and wellness programmes. The main finding of the two reports is that to understand what has the most powerful impact on employee wellness ‘you must look well beyond the wellness programme’ itself. Instead, the pivotal factor is whether an employee identifies their company as caring about their health and wellness.

February 22, 2016

Commercial property costs organisations more than commonly supposed ⁰

by Sara Bean • Facilities management, News, Property

The British Council for Office (BCO) has released a new report which questions the commercial property industry’s commonly ‘accepted wisdom’ that if you break down overall business operation costs, 80 percent of the total goes on salaries and 10 percent on property, with other expenses making up the rest. The BCO’s analysis has found that a more realistic split is 55 percent (salaries), 15 percent (property) and 30 percent (other business costs). So while salaries continue to dominate overall costs, property and non-property business costs play a greater role than the commonly received idea. The BCO believes this clearer understanding of how much property represents of overall business costs will now change, influence and underpin business decisions. This new analysis may also have an impact on rental forecast and could also affect the impact of changing business rates – affecting what organisations may be able to afford.

February 19, 2016

UK in bottom four of European countries for workplace benefits ⁰

by Sara Bean • Flexible working, Legal news, News, Workplace

Social benefits for people in the workplace in Europe are generally far more generous than in the US, but the UK is in the bottom four overall taking into account factors such as maternity and paternity leave, general parental leave, paid holiday allowance, paid sick leave and unemployment benefits. Only the Swiss, the Irish and the Americans have a more frugal government policy. According to a report by Glassdoor of 14 key European neighbouring economies, conducted in cooperation with Llewellyn Consulting, the countries offering the most generous workplace and welfare benefits overall are Denmark, France and Spain. In terms of paid annual leave, Sweden, France and Denmark all offer 25 working days a year as minimum –the highest entitlement. The UK is bunched towards the bottom again with the likes of Italy, Greece, Germany, Portugal and Switzerland – all offering the minimum 20 days.

February 15, 2016

Government needs to play catch up with needs of the self-employed ⁰

by Mark Eltringham • Flexible working, News, Technology

Politicians and legislators are failing to keep pace with the changing nature of work and as a result many of the UK’s growing army of freelancers feel like second class citizens. That is the key finding of a new report commissioned by the Government and authored by entrepreneur Julie Deane. She claims that the Government should do more to bring the self-employed into line with legislation affecting the wider working population, including access to higher rates of parental leave and pay. The report sets out ten key recommendations, notably that the parental allowance should be brought into line with the rules for employees, who are paid a higher portion of their salary for the first six weeks of statutory maternity pay before the percentage drops. It also suggests that the education system should do more to prepare young people for a changing world of work and that more should be done to offer a choice of workplaces for the self-employed..

February 11, 2016

New chair of Women on Boards to review FTSE 350 representation ⁰

by Sara Bean • Legal news, News, Public Sector, Workplace

The government has appointed a new chair to carry on the work of Lord Davies’s Women on Boards Review which was set up in February 2011 to determine the obstacles preventing more women from reaching senior executive positions. The Chair of GlaxoSmithKline, and former Chair of RBS and Sainsbury’s, Sir Philip Hampton, has been appointed to lead the review of representation at FTSE 350 companies. Dame Helen Alexander, Chair of UBM, will take on the role of Deputy Chair to the review. The new review will continue on from Davies’s voluntary business led initiative, which saw female representation on boards in the FTSE 100 rise from 12.5 percent to beyond the target of 25 percent. The next phase of the review will focus on one of the key recommendations from Lord Davies’s report, building a pipeline for female executives and emerging non-executive directors to improve representation at the executive layer of companies.

February 10, 2016

Moderate growth for global commercial real estate predicted in 2016 ⁰

by Sara Bean • Facilities management, News, Property

US and European office markets will tighten further in 2016 as demand for space outpaces a limited number of new developments, according to CBRE Group’s 2016 Global Real Estate Market Outlook. However, the extent of tightening in individual cities will depend strongly on local job growth in major office-using industries. Global prime rents across the three major property types—office, industrial and retail—are expected to grow 2.2 percent on an annual basis, according to estimates from CBRE’s Global Rent Index. The Americas, thanks to the strength of the US property sector, is expected to see commercial real estate rents rise 3.4 percent in 2016, as consumption growth and rising employment, combined with comparatively limited new supply levels, simulates demand. Rents in EMEA are forecast to rise by 3.2 percent thanks to a combination of increased consumer spending, pent-up demand for commercial space and anticipated further monetary easing by the European Central Bank.

February 8, 2016

CIPD joins forces with the UK Government to tackle workplace cyber security ⁰

by Neil Franklin • Legal news, News, Technology, Workplace

Human resources has a key role to play in improving the cyber security of UK workplaces. That is the key challenge addressed by a new joint initiative from the Chartered Institute for Personnel and the Development and the Department of Culture, Media and Sport. Data breaches cost companies up to an average of £1.46 million are often a result of human error and malice, according to the CIPD. The initiative includes a free online course called Cyber Security for HR professionals as part of a wider initiative to promote the importance of cyber security at work, as well as the critical role that HR has to play in ‘mitigating the competency and behavioural risks present in the workplace’. Government figures released last year indicated that the costs associated with the most severe breaches now start at £1.46 million for large businesses, up from £600,000 in 2014, and can reach up to £310,000 for small businesses, up from £115,000.

February 5, 2016

Embracing the inevitable rise of the robots in the workplace ⁰

by Gary Chandler • Comment, Flexible working, Technology, Workplace design

We often have reason these days to speculate on the truth of an idea known as Amara’s Law. First coined by the researcher Roy Amara it states that “we tend to overestimate the effect of a technology in the short run and underestimate the effect in the long run”. But defining what we mean by short and long term can be very difficult when technology is changing so quickly. Nothing better illustrates this than the issue of how automation will transform society and workplaces. For the past few years, the effects have mainly been the subject of academic and scientific research alongside some lurid headlines in the mainstream media. So, a fairly typical 2013 paper from researchers at Oxford University assessed the risk faced by over 700 professions and discovered that nearly half of all jobs in the US could be categorised as at high risk of automation. Less academic studies such as a report published last year by Deloitte draw similar conclusions.

February 5, 2016

What the commercial property market tells us about trends in office design ⁰

by Paul Goodchild • Comment, Property, Workplace design

It’s become commonplace in recent years for certain people to foresee the death of the office. The problem with this argument is that, in spite of its drawbacks, office life maintains an attraction for both employers and employees and there will always be an upper limit on how long people want to spend away from other people. Things are changing but the death of the office is a myth. As we’ve known for at least a quarter of a century, there is no absolute need for us to go to work at all. Theoretically we could just do away with offices completely if we wanted to. But as we have seen, the fact we have evolved technology to the point where we could forget about bricks and mortar, doesn’t necessarily mean we will. Not only are there practical reasons for offices to continue to exist, there are emotive ones too. If you want evidence of this, look no further than the records currently being set by the UK’s commercial property markets.

February 2, 2016

Record investment in UK commercial property in 2015, but trouble ahead ⁰

by Mark Eltringham • News, Property

A near record £67.5 billion was invested in UK commercial property in 2015, making it the second strongest year on record and 46 per cent above the 10-year average, according to research from commercial property analysts CoStar Group. Momentum slowed sharply in the second half of the year, with investment down 19 per cent from the previous year. According to CoStar, this reflects the fact that investment activity has been especially strong over the previous 18 months and good opportunities are harder to find, but also that global economic and political uncertainty are impacting investment decisions. Nevertheless, 2015 was a strong year for the UK’s Big Six regional cities. Office investment increased 16 per cent to £3.2 billion, which is the highest level since the recession and more than double the eight-year average. Foreign investors seeking standing assets and development opportunities underpinned much of this investment.

February 2, 2016

Flexible working is now a requirement for many job seekers, claims report ⁰

by Mark Eltringham • Flexible working, News, Workplace

Employees are increasingly keen to find jobs that offer them flexible working, according to a new study of the global labour market published by recruitment firm Indeed. The report also found that several of the world’s largest economies, including the US, Germany and Canada are suffering because low wages and lack of skills mean employers are unable to find the right people to hire. According to the report, Labor Market Outlook 2016: Uncovering the Causes of Global Jobs Mismatch, interest in jobs that offer some form of flexible working as measured by online job searches that include terms such as “remote”, “work from home” and “telecommute”has increased by 42.1 percent over the last two years in nine of the 12 countries studied. More than half of the top 50 keywords associated with searches for flexible work globally were related to high-skilled jobs, many in the tech sectors.

January 28, 2016

The future of next generation TMT workplaces explored in new report ⁰

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

A new report from property adviser Cushman & Wakefield claims to outline the key future property trends for TMT workplaces based on the views of decision makers from global Fortune 500 organisations, architects, designers, founders of start-ups and high-growth businesses. The Future of the TMT Workplace report produced in association with Unwork, identifies the key forces ‘driving change and necessitating TMT players to fundamentally rethink their workplace strategies’. These include frictionless growth, engineered serendipity, the ‘gig’ economy, the pace of technological change, demand for top technological talent far outstripping supply and where to locate in order to succeed.At this week’s launch event for the report, a panel of expert speakers agreed that workplaces have a critical for TMT firms to respond to challenges such as the need to attract the most talented tech workers.