June 19, 2017
Commercial property giant acquires controlling stake in London based flexible office provider 0
While we should never read too much into a single piece of business, the news that one of the world’s largest property investors is buying a young and still growing British flexible office provider is surely a sign of things to come. As Blackstone, a private equity giant with £140 billion of real estate assets worldwide acquires a controlling stake in The Office Group for £500 million, we must view the deal in the context of a market in which the most dynamic players are WeWork and its contemporaries. The Office Group has grown from seven buildings to thirty-six since it was founded in 2003 and provides flexible office and coworking space to start-ups, freelancers, small businesses and increasingly, corporates such as Facebook, Dropbox and British Gas.
A majority of workers (65 percent) now feel comfortable requesting to work from home, while a third (33 percent) of UK employees would decline a job offer if they weren’t able to work flexibly. This is according to a new study from Maintel which claims that today’s multi-generational workforce prefers flexible working to traditional office hours and location; with flexible work policies perceived as an important workplace benefit. Nearly three quarters (73 percent) of respondents say the company they work for has good flexible work policies in place, 64 percent of remote workers don’t feel micromanaged, and 58 percent would take the opportunity to spend even less time in an office, if it were available. Well over half (60 percent) of respondents believe technology can replace in-person interaction in the workplace. Yet there remain challenges with flexible work, including indifference regarding the security of company data (66 percent) and distractions at home (31 percent).
London’s office workers are looking for shorter commutes, demanding more collaborative and networking opportunities while at work and better access to green space, retail, leisure and wellness; all of which could present a huge opportunity for the less congested outer London boroughs, a new report suggests. According to Savills latest London Mixed Use Development Spotlight, as employers and employees alike demand more from their workplace and their work- life balance, London’s outer boroughs could reap the benefits by providing greater flexible office space and affordable homes at a variety of price points. According to Oxford Economics, employment in sectors that tend to occupy co-working spaces is set to rise by 20,000 people in the outer London boroughs over the next five years, which equates to a gross additional need of 1.6 million sq ft (148,644 sq m) of office space.
Flexible working can increase employee job satisfaction and organisational commitment, but staff who work flexibly under an ad hoc arrangement appear to perform better than those who go through a more formal process, according to research from 
May 31, 2017
IBM’s retreat from flexible working. The world responds 0
by Mark Eltringham • Comment, Flexible working
In February 2013, Yahoo set off a mighty global stink when it sent a memo telling staff to forget about working from home, Starbucks, wherever and return to its corporate embrace. The intention of recently installed CEO Marissa Mayer was to increase collaboration and productivity by getting everybody in the same space. There is some logic to this, except for one thing. As Andrea Hak wrote for us in her masterful post mortem of the whole debacle last year: “With this change Yahoo was trying to attack a symptom rather than the root of the problem. Pitting employees against each other in a stack ranking style system actually discourages collaboration. The experiences of companies that ditched this system have shown that employees are more likely to try and undermine the competition than work together.” So who in the tech sector would possibly make the same mistake again? The answer is IBM.
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