Search Results for: financial

February 15, 2016

The death of the office meme does not fit with a thriving property market ⁰

by Mark Eltringham • Comment, Flexible working, Property, Workplace design

You don’t have to look very far to find somebody or other proclaiming the death of the office. A quick Google search will come up with over 73 million results for the past year alone. This has been going on for decades, but a search engine now gives us a far better idea than the occasional feature in a trade magazine of just how the idea has evolved into a full-blown meme. The narrative has become so entrenched that the people who use it – typically the ignorant, the self-interested, the lazy and the ill-informed – rarely have their premise challenged. Usually it is an idea appended to some disruptive and supposedly apocalyptic trend and, at the moment, office kryptonite comes in the form of coworking, where once it was flexible working or mobile technology. And yet, for all the non-fatal wounds these innovations have inflicted on the traditional office, the idea of people travelling to work alongside each other in shared buildings endures.

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 15, 2016

Employers must meet productivity challenges of paying Living Wage ⁰

by Sara Bean • Facilities management, Flexible working, News, Workplace

A quarter of private sector employees will be directly affected by the implementation of the new National Living Wage, (NLW) over double the proportion of public sector employees. The research, conducted by the Social Market Foundation in partnership with Adecco Group UK & Ireland, warns these employers will need to overcome significant productivity challenges in order to cope with the cost. The NLW cut-off at age 25 means businesses will be faced with potential discrepancies in wages across their younger workforce. While almost a fifth (18 percent) of employees who will benefit from the NLW are younger workers surprisingly, workers aged 50 or over will make up a third. Part-time workers make up around half of the workforce in severely affected workplaces. The research also found that the workplaces severely affected by new National Living Wage tend to have low-skilled employees and are much less likely to offer in-work training.

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 4, 2016

Maturing TMT sector fuels demand for office space in Central London ⁰

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

The Technology, Media and Telecoms (TMT) sector was the largest source of demand for office space in Central London in 2015, for the fifth consecutive year finds the latest Knight Frank London Report, Canary Wharf is set to have the strongest Central London office rental growth in 2016 with an increase of 12.8 percent. This is followed by Shoreditch at 10 percent and Midtown at 9.6 percent. Affordability is the main driver, along with the development of Crossrail, integrating Canary Wharf with the rest of Central London, and a general shortage of available offices across London pushing tenants seeking high quality affordable offices eastwards. Expansion by TMT firms is contributing to the shift, as they are increasingly seeking larger offices. Shoreditch’s increase in office rents will principally be driven by Tech sector expansion as the more mature, established heavy weight tech firms have firmly established a London rival for California’s ‘Silicon Valley’ in the area.

February 2, 2016

Stress is now a fact of life for the vast majority of employees ⁰

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

Excessive stress threatens the wellbeing of employees across the UK and the rest of Europe, with 88 percent of British workers regularly experiencing stress at work, according to research by payroll software firm ADP. Nearly half (43 percent) of UK employees go further to say that stress is a constant factor in their roles and that they feel stressed ‘often’ or ‘very often’. In fact, just 12 percent of employees feel that they never experience workplace stress while 79 percent of UK workers feel that their employer is trying to help them manage stress levels. The report, The Workforce View in Europe 2015/16, surveyed 11,257 working adults across Europe, including 1,500 employees in the UK. It found that many employees now believe flexible working will help them deal with stress and achieve a better work life balance while over three-quarters (79 percent) of UK respondents feel their employer is trying to help them manage stress.

January 29, 2016

Rise in skills shortage vacancies as training in UK firms falls short ⁰

by Sara Bean • News, Workplace

New figures, published by the UK Commission for Employment and Skills (UKCES), show that despite a surge in job openings, the number of positions left vacant because employers cannot find people with the skills or knowledge to fill them has risen by 130 percent since 2011. These so-called “skills shortage vacancies” now make up nearly a quarter of all job openings, leaping from 91,000 in 2011 to 209,000 in 2015. Over a third of vacancies in electricity, gas and water and construction are now subject to some form of skills shortage, with transport and manufacturing not far behind. Only in public administration are skills shortages below 10 percent. And of particular concern, said the Chartered Management Institute was the revelation that almost half (48 percent) of UK managers have not received any form of training at all during the last 12 months, down from 50 percent in 2013.

January 15, 2016

Three quarters of Millennials will change jobs over the next five years ⁰

by Mark Eltringham • Flexible working, News, Workplace

It must be the time of year but we are suddenly awash with surveys and reports suggesting that pretty much everybody in the UK is about to change their jobs. Following our report earlier in the week that suggests older workers are perfectly prepared to just give up on work completely, it was inevitable that we were about to hear something from those pesky Millennials. Sure enough, along comes a report from Deloitte that suggests that nearly three quarters of Millennials plans to leave their jobs over the next five years. Millennials and their employers: Can this relationship be saved? found that the UK has a higher than average percentage of Millennials planning to change jobs in the next five years, with the average in developed economies standing at 61 percent. Worldwide, forty-four percent of Millennials say, if given the choice, they expect to leave their current employers in the next two years.

January 12, 2016

A cynic’s field guide to workplace terminology, part three ⁰

by Simon Heath • Comment, Facilities management, Technology, Workplace, Workplace design

A New Year and a new chance for some people to heap more fresh corporate bullshit onto the already steaming pile. No matter how often writers like the ever excellent Lucy Kellaway mock and deride the propensity of people in organisations to apply cliches and nonsense in lieu of thought and imagination, we have to face an annual fresh tide of drivel and lazy thinking. So predictable is this yearly onslaught, that it appears to now be a subject for trendspotters, as a recent feature in The Telegraph highlighted. Of course, this is just general corporate speak and does not even begin to scratch the surface of what we have to endure in the more parochial world of workplace design and management. Which is why I have produced the latest update to my continually expanding lexicon of regrettable workplace terminology. You can read parts one and two here and here.

January 7, 2016

Future prospects rather than salary is the main motivator for employees ⁰

by Sara Bean • Flexible working, News, Workplace

Nearly a third of workers are planning to quit their jobs this New Year, with most workers wanting to move because of poor future prospects. According to a poll conducted by the Institute of Leadership & Management (ILM) over a quarter (26 percent) said that lack of opportunity is the main reason they want a new job, while 17 percent say they are moving because they want more appreciation. A quarter are so desperate to leave that their current company could do nothing to keep them on; with 27 percent saying they wouldn’t stay where they are no matter what the company offered them. Financial reward is a low motivator, as only 15 percent of people say they want to move to get a better salary. Over a third of employees have been so fed-up that they have left without a new role to go to, with 34 percent of those who left their jobs in 2015, doing so without lining up a new job.

January 6, 2016

Third of employees did not feel motivated or engaged at work last year ⁰

by Sara Bean • Flexible working, News, Workplace

Just over a third (34 percent) of UK employees could not name a single occasion that motivated them at work last year, new research claims. The ‘Employee motivation: Who came out on top in 2015?’ report suggests that despite a quarter (24 percent) of staff saying ‘yes’ they felt motivated at work in 2015, nearly half of the UK workforce collectively felt neutral or negative feelings towards their job over the course of the whole year. The survey was commissioned by Red Letter Days for Business, to explore one of the building blocks affecting the low engagement and productivity rates in the UK – employee motivation. It found that 25-34 year olds were the most motivated at work last year, as this age group are likely to be working their way up the career ladder. And unsurprisingly, when asked what would be most likely to motivate them at work, nearly half of respondents, whatever the age, suggested a good work/life balance.

January 6, 2016

Two new studies that highlight the complexities of gender at work ⁰

by Mark Eltringham • Comment, Knowledge, News, Workplace

The increasingly complex nature of the career and workplace choices made by men and women and the specific challenges they face is the subject of two pieces of research presented at this week’s British Psychological Society’s Division of Occupational Psychology annual conference in Nottingham. The authors of the admittedly small scale studies conclude respectively that men in what are generally considered typically female-dominated occupations tend to value the social aspects of their career more than financial rewards and that ambitious professional women would benefit from a better understanding of how to build, maintain and use their social capital to succeed in their attempts at reaching the top of their professions. Both topics have been raised before but it’s interesting to see yet more research which challenges the often overly simplistic assumptions that seem to go hand in hand with gender issues at work.