Search Results for: financial

July 17, 2017

BCO predicts how Brexit might impact on demand for office space to 2022

by Sara Bean • Facilities management, Legal news, News, Property, Workplace

Commercial property occupiers remain cautious about the future, and hard data indicates that demand has, so far, been largely unaffected by Brexit, claims a new report from the British Council for Offices (BCO) . ‘Brexit and its Potential Impact on Office Demand’, examines how Brexit might impact on demand for office space on a national and regional basis through to 2022. According to the report, almost one year on from the Brexit vote the situation is one of uncertainty, feeding through to slower growth, with ‘an almost palpable sense that choppy waters lie ahead, particularly with regard to trade and movement of labour’. However, businesses continue to make long-term investments in the national economy and even in the City, some large investment banks have committed to large new office buildings. There is much variation in the relative performance of the UK’s major office centres, though, with some expanding and others apparently in decline.

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July 14, 2017

Employee wellbeing rising up UK corporate agenda in comparison to other countries, claims report

by Neil Franklin • News, Wellbeing

A study from the Top Employers Institute claims that employee wellbeing in the UK has risen up the corporate agenda with 82 percent of many large companies consistently defining an organisation-wide total wellbeing programme in 2017, increasing from 73 percent in 2016. What’s more, the impact and effectiveness of programmes are evaluated consistently with 71 percent doing so, up from 65 percent last year, while employee wellbeing education has also jumped from 61 percent to 85 percent in the last year. This compares to global Top Employers increasing employee wellbeing programmes from 67 percent to 68 percent, evaluation increasing from 55 percent to 57 percent and employee education increasing from 20 percent to 21 percent in the last year. The data comes from research into 71 companies certified as Top Employers UK for 2016, and 78 companies certified in 2017, plus a further 1,100 globally.

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July 14, 2017

Large majority of working mothers cut short maternity leave over job fears

by Neil Franklin • Legal news, News

New research claims that just 12 percent of working mothers take a full year’s maternity leave and almost one in five (18 percent) take four months or less. The research claims that almost half (44 per cent) of working mothers were unhappy with how they had been treated by their employer during their pregnancy and after their return to work. While many mothers return for financial reasons or simply because they want to, many worry about being side-lined, edged out or feel pressure from their boss to go back. The survey of 2,000 working mothers by law firm Slater and Gordon found that almost a third (30 percent) felt their managers wouldn’t have supported them staying off for any longer, and thirty-nine per cent weren’t sure their job would be waiting for them when they went back.

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July 13, 2017

Tech and media firms dominate commercial property take up in the City so far this year ⁰

by Sara Bean • Cities, Facilities management, News, Property

Companies in the tech and media (TMT) sector have accounted for the greatest proportion of City take up so far this year new figures from Savills suggest. This is the largest amount of take up ever by this sector in the first five months of a year, representing a 20 percent share of the market, ahead of the professional services sector at 17 percent and insurance and financial services sector at 14 percent. TMF firms took 517,069 (48,036 sq m) of space out of a total of 2.25 million sq ft (208,699 sq m) to the end of May 2017. Key deals to complete in the City recently include visual effects company Industrial Light & Magic (owned by the Walt Disney Corporation) taking 47,010 sq ft (4,367 sq m) at Lacon House in the City fringe (Theobalds Road, WC1), joining other tech companies Argus and Exterion Media in the building.

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July 12, 2017

The world has its say on the Taylor Review into modern working practices ⁰

by Mark Eltringham • Features, Flexible working, Legal news

Yesterday, the much-awaited Taylor Review into modern working practices was finally published. And by modern working practices, the report focussed primarily on what has become known as the gig economy. People have been speculating about the contents of the report for months and things ramped up last week after a partial leak to the media. So, things were already bubbling under nicely before the actual publication of the document brought things to a boil yesterday. Assuming the government do more than kick the whole thing into the long grass, always a possibility, debate will continue for a while. We’ll let politicians do their thing with it, but here are a few of the initial reactions from interested parties and the experts. (more…)

July 11, 2017

Taylor Review on Modern Working Practices and the gig economy is published ⁰

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

The long awaited UK government commissioned report into modern working practices and the so-called gig economy has been published at last. The Taylor Review was commissioned by the Department for Business, Energy & Industrial Strategy last year and there has been a great deal of speculation regarding its content ever since, especially last week after parts were apparently leaked to the media. You can follow the pile in now on Twitter and the festering pits of ignorance, prejudice and bile known as newspaper comment sections. Or you can read it here before you draw your own conclusions. We’ll be having our say tomorrow and sharing the thoughts of various organisations into its contents. The report was authored by Matthew Taylor, Chief Executive of the RSA and considers the implications of new forms of working, especially with regard to the gig economy and freelance work on worker rights and responsibilities, as well as on employer freedoms and obligations. It sets out seven key principles to address the challenges facing the UK labour market, set out below.

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July 11, 2017

Serviced and coworking offices top London leasing market for the first time ⁰

by Mark Eltringham • Coworking, Flexible working, News, Property

Serviced and coworking office space providers have accounted for the largest share of space leased in Central London for the first time, according to new research from Cushman & Wakefield. During the first half of 2017, serviced office or co-working providers – such as WeWork and The Office Group – accounted for 884,235 sq ft of newly-leased office space in central London. The second quarter of the year in particular witnessed a dramatic escalation in activity by serviced office and co-working providers with 651,540 sq ft leased – around a quarter of central London’s take-up across April, May and June. This was more than London’s traditionally dominant occupational sub-sectors such as technology, media and financial services. The H1 2017 total is more than serviced office and coworking providers accounted for in the whole of 2016 (853,178 sq ft). and is just a deal or two shy of the sector’s average annual take-up between 2012 and 2016 (908,972). It seems certain therefore that serviced office and co-working providers will this year surpass their record annual volume of 1,267,926 sq ft set in 2014, according to the firm.

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July 10, 2017

Long commutes are major source of poor health and low productivity ⁰

by Neil Franklin • Flexible working, News, Wellbeing

Long hours spent commuting to work are some of the main causes of poor health and low productivity, according to a large-scale study from the Britain’s Healthiest Workplace index, a joint venture between insurer VitalityHealth, the University of Cambridge, RAND Europe and Mercer. According to the study of more than 34,000 workers, people commuting less than half an hour each day to get to work gain an additional seven days’ worth of productive time each year compared with those with commutes of 60 minutes or more. Longer commutes also appear to have a significant impact on mental wellbeing, with workers who have a long commute 33 percent more likely to suffer from depression, 37 percent more likely to have financial concerns and 12 percent more likely to develop various forms work-related stress. These workers are also 46 percent more likely to get less than the recommended seven hours of sleep each night and 21 percent more likely to be obese. The research suggests that offering flexible working is the best way to mitigate the negative effects of commuting.

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July 6, 2017

UK remains stuck in stubborn low productivity trap ⁰

by Mark Eltringham • News, Workplace

The persistently low productivity of UK workers has dropped back to pre-financial crisis levels, according to official figures. Hourly output fell 0.5 percent in the first three months of the year, the Office for National Statistics (ONS) reports in its latest update. At the end of 2016, productivity returned to the level seen before the 2008 recession. But it has now slipped back again and is 0.4 percent below the peak recorded at the end of 2007, according to the ONS. It was the first quarterly fall in productivity since the end of 2015, according to the ONS. Economists have consistently warned that the UK’s low productivity continues to mean it lags behind its major trading partners such as the US, France and Germany.

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July 6, 2017

Digital workplace accelerates blurring of lines between IT, HR and finance roles ⁰

by Neil Franklin • News, Technology, Workplace

To help ‘organisations thrive in a competitive digital marketplace’, Oracle and the MIT Technology Review have released a new study that highlights the importance of collaboration between finance and human resources (HR) teams with a unified cloud. The study, Finance and HR: The Cloud’s New Power Partnership, outlines how a ‘holistic view into finance and HR information’, delivered via cloud technology, empowers organisations to better manage continuous change in the workplace. Based on a global survey of 700 C-level executives and finance, HR, and IT managers, the study claims that a shared finance and HR cloud system is a critical component of successful transformation initiatives.

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June 29, 2017

Self-employed would value receiving sick pay above other benefits ⁰

by Neil Franklin • Flexible working, News

UK micro-business owners and freelancers would be more interested in receiving sick pay than any other statutory benefit, according to new research carried out in collaboration between cloud accounting software firm FreeAgent and The Freelancer & Contractor Services Associatio n (FCSA). A poll of nearly 900 UK micro-business owners conducted by FreeAgent and FCSA claims that sick pay provision is the benefit that self-employed workers would most welcome, coming way ahead of other benefits such as maternity pay, job seekers allowance and pension auto-enrolment. The survey claims that 76 percent of respondents currently do not have any method of providing sick pay, maternity/paternity leave, holiday or redundancy pay in their business. Projected across the country’s 5.2 million-strong micro-business sector, this potentially equates to millions of people working without the same kind of basic entitlements that employed workers have. Notably, people’s appetites for additional benefits varied depending on the structure of their business with sole traders more likely to value benefits (rating sickness provision 8.7 out of 10) compared to those working through their own limited companies who gave a score of 6.4 out of 10 for sickness provision.

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June 29, 2017

The onus is on employers to create working conditions that attract people ⁰

by Graham White • Comment, Facilities management, Wellbeing

Staff absenteeism is one of the most costly issues facing employers in the modern workplace. Absenteeism is defined commonly as an unscheduled, deliberate or routine absence from the workplace by employees. According to a new study by the Centre for Economic and Business Research (CEBR), people who regularly take days off are costing the UK economy billions each year, with the toll set to rise considerably over the next decade and potentially rising to £26bn by 2030. The report also found that mental health issues are affecting 30-40 year olds who have to juggle various things such as home life, financial constraint and pressures from their day jobs and respective careers. Another recent study by AXA PPP healthcare found that over a third of employees living with a mental health condition (39 percent) are not open about it in the workplace. These findings highlight a clear disconnect between how employees are feeling and what their employers understand to be their state of mind.