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Demand by global businesses for London office space remains high

Demand by global businesses for London office space remains high

by • Cities, Facilities management, News, Property

Demand for commercial office space in London by global businesses remains strongOffice investment volume in Central London in 2018 is expected to come close to £20 billion, despite the ongoing economic and political uncertainties of Brexit. According to Savills London witnessed notably above average levels of office take-up in 2018 and achieved the best ever City of London rent (£80 per sq ft). The list of global businesses committing to long term leases has continued to grow with announcements in the last 12 months from Facebook, LinkedIn and Sidley Austin. The constrained development pipeline has seen more office pre-lets over 50,000 sq ft agreed in 2018 than ever before, while a shortage of available Grade A options has matured into a greater number of development opportunities. Savills also predicts a greater number of value-add and development opportunities coming to the market and that trading in London will insure the ongoing creation of the world’s best office buildings in a city where people will continue to want to work. This in turn creates new investment opportunities for global investors searching for prime assets.

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Government policy is making life increasingly difficult for freelancers

Government policy is making life increasingly difficult for freelancers

by • Flexible working, News

Freelancers expect government policy to drive their businesses and the economy into decline over the next year, a report from IPSE (the Association of Independent Professionals and the Self-Employed) claims. This quarter, amid widespread speculation about Budget announcements that would harm the self-employed, freelancers’ confidence in their annual business performance dropped nine points, sliding into negative territory. Their confidence in the wider economy – which was already in deep negative territory – fell another two points to near-record lows.

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Generation Z are more motivated by job satisfaction than money

Generation Z are more motivated by job satisfaction than money

by • Flexible working, News, Technology, Workplace

Generation Z more motivated by job satisfaction than moneyGeneration Z, the latest generation to enter the workforce, are more likely to be motivated by job satisfaction and working for social good than by money, a new report claims According to new research from Huawei, in partnership with Chris Brauer, Director of Innovation at Goldsmiths, University of London, based on responses from 2,000 18-25-year olds’ across the UK, also reveals that a new tribe of working professionals among Gen Z is emerging, the ‘New Working Order’. (more…)

Meaningful work an important driver of health and wellbeing for men

Meaningful work an important driver of health and wellbeing for men

by • News, Wellbeing

Men’s care brand Harry’s has published the findings from their first US Masculinity Report in partnership with University College London psychologist John Barry, co-founder of the male psychology section of the British Psychological Society. The report surveyed 5,000 men aged 18-95 across the US, weighted for race, income, education, sexual orientation and other factors. Respondents were asked about their wellbeing, happiness, confidence, emotional stability, motivation, optimism, and sense of being in control. They were then asked how satisfied they are with their careers, relationships, money, work-life balance, physicality, and mental health. The reports key finding was the strong correlation between wellbeing and meaningful work.

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Flexible office market to grow by a third each year for next five years

Flexible office market to grow by a third each year for next five years

by • Facilities management, Flexible working, News, Property, Workplace design

Gig economy leading to growth of flexible office space says JLLThe gig economy has helped lead to the doubling in size of the flexible office space sector since 2014 and it’s set to grow by up to 30 percent per year over the next five years claims new research published by JLL. Disruption or Distraction, a report delving into the growth of flexible office space across Europe explores the main drivers of the sector’s boom – including evolutionary changes in how, when and where people work, shifts in lifestyle, and rapid advancements in technology – and provides unique insights into the risks and rewards for both companies and real estate investors in Europe. (more…)

Employers struggle to understand what motivates people in new generation of megacities

Employers struggle to understand what motivates people in new generation of megacities

by • Cities, News, Workplace

Mercer has published the results of an extensive study that examines the needs of workers in the world’s fastest-growing cities across four key factors – human, health, money and work. The study provides insight into the motivations of workers against the backdrop of fierce competition for their talent. The study, People first: driving growth in emerging megacities (registration required), is based on a survey of 7,200 workers and 577 employers in 15 current and future megacities across seven countries, namely Brazil, China, India, Kenya, Mexico, Morocco and Nigeria. As defined by the United Nations, these 15 cities will have a combined population of 150 million people by 2030 and share strong, projected GDP.

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Working parents lead the charge of British workers into the side hustle

Working parents lead the charge of British workers into the side hustle

by • News

A new study published by GoDaddy and the Centre for Economics and Business Research (Cebr), claims that ‘side hustling’, in which people have small business ventures running alongside their main job, has risen by around a third over the last decade. The study claims that the UK’s side hustlers make a substantial contribution to the economy, with every 1000 side hustles creating 876 extra jobs. The report, Side hustle: a way of life, not work also claims that 44 percent of side hustlers are parents with at least one child under 19 living at home.

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Skills and new businesses drive decade of recovery for UK cities

Skills and new businesses drive decade of recovery for UK cities

by • Cities, News

Improving skills levels and new business formation have been the key long-term drivers of growth for UK cities since the financial crisis, according to the latest Demos-PwC Good Growth for Cities 2018 index that ranks cities on a combination of economic performance and quality of life. The latest Index analyses a decade of economic and social data to determine what long-term factors drive Good Growth. PwC analysis shows that the average city in our index has improved its good growth score significantly over 10 years from 2005-7 to 2015-17, and has now more than recovered from the recession and downturn triggered by the global financial crisis.

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The workplace world responds to the UK Autumn Budget

The workplace world responds to the UK Autumn Budget

by • News, Property, Workplace

Yesterday, the Chancellor Philip Hammond announced the details of the UK government’s latest budget. While Brexit and austerity inevitably cast their shadows over the whole thing, there were a number of announcements relevant to the workplace, construction, tech and built environment sectors, some of which have been broadly welcomed by commentators, industry bodies and experts. Some are decidedly less popular. Among the announcements in the budget were new plans for infrastructure and property, skills and training, tax regimes for the self-employed, productivity, business rates and mental health.

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Regus to sue WeWork; blinkers for office workers; and some other stuff you should know about

Regus to sue WeWork; blinkers for office workers; and some other stuff you should know about

by • Features, Property, Technology, Workplace design

What to make of the announcement that Chengdu is thinking of creating an artificial moon so that it can do away with street lights, bathing the city’s streets in permanent dusk? Well possibly a big thumbs up for the ingenuity and maybe thumbs down for the impact on people’s circadian rhythms and awareness of what’s in the heavens. People really should look up more, both figuratively and literally. Maybe there’s also room for a thought about we we can over-complicate designed solutions when we look to innovate beyond a certain point.

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Around half of workers expect to have multiple careers throughout their working life

Around half of workers expect to have multiple careers throughout their working life

by • Flexible working, News, Workplace

Just under half of UK workers (46 percent) expect to have multiple careers throughout their working life, as opposed to one structured and lifelong career, according to a new report from employee benefits firm Unum and researcher The Future Laboratory. The Future Workforce (registration required) sets out to examine the motivations and priorities of UK workers, to understand how the nation’s workforce will change over the next decade. Insights were drawn from a survey of more than 3,000 UK workers, as well as from interviews with a range of industry experts and business leaders.

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Working long and hard? It may do more harm than good for your productivity and wellbeing

Working long and hard? It may do more harm than good for your productivity and wellbeing

by • Features, Flexible working, Wellbeing

Nearly half of people in the EU work in their free time to meet work demands, and a third often or always work at high speed, according to recent estimates. If you are one of them, have you ever wondered whether all the effort is really worth it? Employees who invest more effort in their work report higher levels of stress and fatigue, along with lower job satisfaction. But they also report receiving less recognition and fewer growth opportunities. And they experience less job security. So increased work effort not only predicts reduced wellbeing, it even predicts inferior career-related outcomes.

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