Search Results for: financial

July 27, 2016

Bridging the UK’s persistent productivity and digital skills gap ⁰

Two of the most persistent and related structural problems facing the UK economy are the productivity and digital skills gaps. Earlier this month, the Office for National Statistics reported that there had been a further 1.2 percent fall in productivity. Part of the reason for this is that there is an underlying digital skills gap. According to a report from Barclays, nearly a third (31 percent) of working-age adults in the UK lack even basic digital problem-solving skills which places the country comfortably below the 37 percent average across OECD countries. Despite this, a mere 38 percent of UK employers offer their workers digital skills training, perhaps because on the other side of the coin, the UK ranks highly in what the report calls ‘digital empowerment’, which it defines as ‘the ability and desire to use one’s digital skills to work productively and creatively, and to have the opportunity to continually upgrade them to keep pace with changing technology’.

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July 25, 2016

Many UK workers don’t think current employee benefits meet their needs ⁰

by Mark Eltringham • Flexible working, News, Wellbeing

A new study published to coincide with Smarter Working Day (today, apparently) claims that almost half of UK workers (48 percent) don’t think their current employee benefits package is tailored to their needs. The study of 1,000 UK workers published by payroll lending provider SalaryFinance claims that 38 percent of UK workers currently have access to flexible working although only 26 percent say they prefer the chance of flexible working to financial and psychological wellbeing benefits. Fewer than one in five (19 percent) currently have access to benefits designed to support mental wellbeing, such as counselling services, and only one in four (26 percent) receive financial wellbeing support from their employer. In contrast, one in three (32 percent) receive ad hoc incentives such as free lunches, birthday cakes and duvet days. With 58 percent of people saying that their employer has never asked for feedback on their benefits programme, employers could be falling out of touch with the needs of staff, claims the research.

July 25, 2016

Outmoded desk phone will disappear within next couple of years ⁰

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

A new survey has confirmed the imminent death of the ‘nearly useless’ desk phone, which while still in evidence within many organisations, is believed by one third of workers will disappear in two to three years. With both corporate and remote workers increasingly away from their desks, 65 percent already have a ‘desk phone optional’ work environment and over half (59 percent) believe the desk phone is outdated. The 2016 Report on Business Communications in the Era of the Anywhere Worker, by Dialpad, among end users to executives, on cloud communications adoption rates and expectations, also found that businesses of all sizes are adapting to the “anywhere worker” movement and as employees increasingly rely exclusively on mobile technologies, the organisations they work for are quickly evolving to meet their mobility demands and prepare for more anywhere workers in the future. In fact, 84 percent of responding companies already have remote workers.

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July 21, 2016

A quarter of workers would turn down higher wages to get work perks ⁰

by Neil Franklin • Flexible working, News, Wellbeing, Workplace

A quarter (25 percent) of British workers would be willing to accept a lower salary in return for better ‘work perks’ a new survey claims. Employment bonuses, such as flexible working, a company car or free food have become increasingly popular over the last few years, which explains why 55 percent of UK workplaces already offer work perks, the survey suggests. Workers in Wales are most likely to accept a lower salary with almost a third saying they would accept a position for less money if it had better perks. The survey was commissioned by Printerland.co.uk to explore attitude towards benefits, asking 2,000 workers about the kind of perks they already receive and which bonuses they wish they had. The research claims that the most common perks offered are flexible working (51 percent), financial bonuses (50 percent), free food (32 percent), company phones and tablets (21 percent) and company cars (11 percent).

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July 19, 2016

UK should avoid severe recession and property crash after Brexit vote ⁰

by Mark Eltringham • Comment, Knowledge, News, Property

UK growth had already eased from around 3 percent in 2014 to around 2 percent before the EU referendum due primarily to slower global growth, but the Brexit vote to leave the EU is likely to lead to a significant further slowdown. UK GDP growth is forecast to decelerate to around 1.6 percent in 2016 and 0.6 percent in 2017 according to PwC’s main scenario in its latest UK Economic Outlook report. Quarter-on-quarter GDP growth could fall to close to zero in late 2016 and early 2017 in this main scenario, but is then projected to recover gradually later in 2017 as the immediate post-referendum shock starts to fade. The UK would avoid recession in this scenario, although the report notes that uncertainties around this view are significant, with alternative scenarios showing GDP growth in 2017 of anywhere between +1.5 percent and -1 percent. But even this latter relatively pessimistic scenario would not be a severe recession of the kind seen in the early 1980s or in 2008-9.

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July 15, 2016

ICE makes the case for infrastructure ahead of Brexit negotiations ⁰

by Neil Franklin • Cities, News, Property, Public Sector

In a new report Brexit – The Case for Infrastructure, the Institution of Civil Engineers has set out the business case for the valuable contribution which infrastructure makes to the economy and argues that the UK should not lose sight of this as it begins negotiations for Brexit as it leaves the European Union. The report claims that high quality, high performing infrastructure is vital for economic growth and improved quality of life. It points to transport, communications, energy and housing as being central to spreading opportunity across the whole country. It also makes the case that infrastructure acts as a catalyst for social and economic inclusion, encouraging greater participation in society from people of all walks of life. In particular, during uncertain or volatile economic times, continued investment in UK infrastructure can help provide economic stability, facilitate inward investment and drive economic growth.

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July 11, 2016

Many firms lag behind their customers in use of latest tech innovations ⁰

by Mark Eltringham • News, Technology

Just one in three IT decision makers believe advances such as cloud-based solutions, big data and wearable tech will be available in their industry within the next 12 months, according to a new study from Capita. Although the report – Trends vs Technologies – has yet to be published, the firm has released some of its findings. Based on a survey of IT professionals in the insurance, finance, legal services and manufacturing sectors, the study analyses nine key organisational trends and the implementation of related technology. The report claims that while many decision makers describe a tech trend as being relevant to their industry, several barriers to implementation mean solutions are not yet ready and in many cases might be lagging behind consumer take-up of the new technology. The trends named in the report are Big Data, Digital Workplace, Artificial Intelligence, Internet of Things, Wearable Tech, Robotics, Cloud Based Solutions, 3D Printers and Virtual Reality.

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July 5, 2016

Employers need more help in navigating the Apprenticeship Levy ⁰

by David Allison • Comment, Workplace

According to the latest governmental statistics, apprenticeships reached a record high in 2014/15 with over 871,000 apprenticeship participants within the UK. The majority of these were in the service sector, and almost three quarters were concentrated in three sectors: Business, Administration and Law; Retail and Commerce Enterprise and Public Services and Care. Last year the government announced its plans to introduce a new UK-wide levy on large employers in a bid to fund apprenticeships and to create 3 million more apprentices by 2020. Due for implementation in April 2017, this levy promises to have a significant impact on the existing apprenticeship landscape. As the implementation of the apprenticeship levy draws nearer, it is rising to the top of companies’ HR and Finance agendas, as businesses attempt to work out how to reap a return on investment, with the Confederation of British Industry (CBI) calling for the Government to put off its introduction.

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June 28, 2016

Countries aware of but not harnessing full potential of older workers ⁰

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

The idea of a fixed retirement age looks increasingly distant in countries around the world and perhaps none more so than the US. According to a study from the Pew Research Center, based on data from the federal Bureau of Labor Statistics, more US over 65s are working than at any time covered in the analysis, and they are working longer hours. As of May, nearly a fifth (18.8 percent) of over 65s worked full or part time, up from 12.8 percent in 2000. Intriguingly, the study also shows that this represents a significant greying of the workplace as in the overall population, 59.9 percent of Americans are currently in jobs, down from 64.4 percent in 2000. The same pattern is evident even in workers significantly older than 65. Even the over 75s are working at higher rates than they did before the 2008 recession, the only age groups about which that can be said, according to Pew, emphasising the fact that the workplace is getting older rather than younger as is commonly assumed.

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June 27, 2016

Millennials not as keen on the gig economy as you might think, claims study ⁰

by Mark Eltringham • Flexible working, News, Workplace

The supposed confluence of two of the most currently talked about workplace phenomena may not be all it seems, according to a new report from PwC. It appears that Millennials may not be all that keen on the gig economy after all, and might prefer some of the things that previous generations enjoyed such as stability, security and an ability to plan their lives with at least some degree of certainty. They are realists however, and understand that the use of freelance work will continue to grow over the next few years. Indeed, the report suggests that it is older workers who – perhaps unsurprisingly – are more keen on freelance work. According to the study based on 1,385 respondents in the US, overall 41 percent of employees expect to be employed on a contract basis within the next year, even though over a third (39 percent) don’t like the income uncertainty, and over half (53 percent) expect to be fully self employed within the next five years.

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June 24, 2016

Property and workplace experts have their say on the Brexit outcome ⁰

by Mark Eltringham • Architecture, Comment, Facilities management, Property, Workplace, Workplace design

Well, the results are in and the UK’s electorate has voted by a narrow margin for the country to leave the EU. There are likely to be other developments but whatever you make of the UK’s decision to vote to leave the EU – and I think it’s fair to say most independent people think it’s inexplicable – there’s no doubt that it will have a profound impact on the UK’s economy, relationship with the world, culture, working conditions and markets. What it will mean in practice won’t be apparent for months or years, of course, but that hasn’t stopped experts who work in the property, workplace, design, legal, HR and architecture sectors having their say on its potential implications. We’ll look at these specific issues in more detail going forward but for now, here’s a round-up of those we have so far, which we’ll keep updated throughout the day as the dust settles on what will prove to be a momentous decision for the UK, Europe and rest of the world.

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June 21, 2016

London office rents predicted to stay strong provided there’s no Brexit ⁰

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

The continuing imbalance between the supply and demand for office space throughout London is resulting in a shift in the balance of negotiating power away from tenants, according to the latest London Office Update from Carter Jonas. Rents across Central London have, on average, risen by over 50 percent over the last five years in the West End, Midtown and South Bank office markets, and by over 30 percent in the City of London. Rent free periods have typically fallen by up to six months over the same period. In the next 18-24 months, the trend will continue to be higher rents and shorter rent free periods as availability remains low. While some occupiers may leave London altogether, others may adopt a ‘spoke and hub’ strategy, whereby back office functions relocate to peripheral, lower cost, areas while ‘client facing’ operations are retained in Central London. This prediction assumes that Britain rejects Brexit however, and there are no major economic shocks.