November 14, 2017
Falling supply and growing demand for affordable office space in London is putting undue pressure on SMEs
As the pressure grows for small businesses to find affordable workspace in the UK’s capital, the London Assembly has published a new report that looks at ways of addressing the underlying issues, especially a fall in the availability of appropriate space. According to the Assembly, the pressure on affordable workspace for SMEs in London is increasing. Sixteen per cent of industrial land was lost between 2001-2015 and if the trend continues, industrial land in London could fall a third by 2041. In outer London, almost one fifth of workspace could be lost to residential homes and since 2013, the relaxation of permitted development rights has led to the conversion of 1.47 million square metres of office space to residential homes.
Office rents have begun to slip across Central London, and the chief reasons could be uncertainty around the outcome of the Brexit talks and the UK seemingly missing out on the rising level of global trade, suggests Cluttons’ London Office Market Bulletin Autumn 2017. While the report highlights that many locations in Central London have seen headline office rents hold steady for the better part of two years, rent free periods have been moving out in order to sustain this, but now appear to be at a critical tipping point, level, which is driving some landlords to consider alternative incentives, such as delayed completions. Freddie Pritchard-Smith, Head of commercial office agency at Cluttons said: “Many firms remain nervous about making a long-term commitment to more space, choosing either flexible overflow space or to reconfigure within their existing office. The exception to this of course remains the serviced office and TMT sectors, who have helped transactional levels in the West End to surpass 4 million sq ft already this year, which is paradoxical to the falling rental conditions.”
Over half (52 percent) of people who work remotely feel their colleagues don’t treat them equally, claims a new study. Working remotely has become a highly sought-after job perk and having the flexibility to live and work where you please, regardless of corporate headquarters, often draws people to take one job over another. But a survey from VitalSmarts produced by David Maxfield and Joseph Grenny, authors of the bestsellers Crucial conversations and Crucial Accountability, found that remote employees have a significantly harder time with a number of workplace challenges than their onsite colleagues. 67 percent of remote employees complained that colleagues didn’t fight for their priorities compared 59 percent of onsite employees. 41 percent of remote employees believed colleagues say bad things about them behind their back compared to 31 percent of onsite employees and 64 percent of remote employees had changes made to a project without warning vs. 58 percent of onsite employees. Over a third (35 percent) of remote employees thought colleagues were lobbying against them vs. 26 percent of onsite employees.
Despite recent figures indicating that work productivity is down in Britain, the UK remains a highly attractive country for employers and employees based on a combination of talent, location, quality of life and cost, according to the latest edition of Colliers International’s European Cities of Influence report. The analysis of 50 major European economic cities for employers saw London retain its top position, with all other UK cities in the analysis featuring in the top 20 (Birmingham, Edinburgh, Manchester, Bristol and Glasgow).The report finds that quality of life factors are important to accelerate business and attract talent with the research revealing that the nature of workplace strategy is evolving so rapidly that keeping up — let alone staying ahead of the curve — can be a challenge. Employers are now focused on creating a workplace that can attract and retain talent by incorporating co-working and collaborative facilities, flexible working options and ingraining a healthy mindset. With the onus on keeping employees happy and productive, the design and utilization of the workplace is helping to accelerate business productivity more than ever before.
The future workplace will replace familiar, rigid hierarchies and departments with small, collaborative networks of teams and the lines between individual organisations and ecosystems will blur as companies increasingly cast their net wider to innovate. This is one of the predictions made in a Fujitsu-commissioned whitepaper ‘
November 6, 2017
Time to address the missed opportunities and wasted resources of the modern workplace
by Chris Moriarty • Comment, Wellbeing, Workplace design
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