Search Results for: income

March 10, 2015

Third of Millennials more engaged by contributing to company vision than a high salary

by Sara Bean • News, Wellbeing, Workplace

The younger generation of workers say high visibility and the chance to help influence the workplace culture is of much more importance than the size of their pay packet. When asked by US-based firm Futurestep what matters most to them as employees, the greatest number of Millennial respondents – those born after 1980 – (23%) said it was “the ability to make an impact on the business,” followed by “a clear path for advancement” (20%) and “development and ongoing feedback” (16%). Income came in at fourth place at 13 percent. When questioning what makes Millennials choose one job over another, more than a third (38%) said “visibility and buy-in to the vision of the organization” while 28 percent said “a clear path for advancement.” “Job title and pay” came in third place at 18 percent.

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March 5, 2015

Majority of UK workers concerned about their ability to retire

by Mark Eltringham • Legal news, News, Workplace

A new report from the Chartered Institute of Personnel and Development claims that the majority of UK workers are concerned that their current pension arrangements won’t allow them to retire. It found that the average employee pension contribution to a workplace-defined contribution pension scheme is currently 5 percent, but most employees think they should be saving almost double that (9 percent). Four in ten (43 percent) think they should be contributing more than 10 percent of their salary to their retirement savings and almost a quarter (22 percent) admitted they didn’t know how much they should be contributing. The shortfall between what employees are paying in and what they think they should be paying is highlighted by the fact that over half of UK workers have considered how they might work past state pension age and one in ten people (13 percent) are worried that they will never be able to afford to leave paid employment.

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February 6, 2015

Over a third of Scottish businesses are based at home (and a fifth started there)

by Mark Eltringham • Flexible working, News

Over half of businesses in Scotland started in somebody’s home and over a third are still based there, according to a new report from the Federation of Small Businesses (FSB) and researchers from the University of Glasgow. The study of 1,000 Scottish businesses found that 39 percent are based from home and a further 19 percent began life there. The FSB claims that Scottish home based firms turn over around £20 billion a year with three quarters of them with a turnover of less than £100,000 and – perhaps unsurprisingly – only 3 percent with a turnover greater than £500,000. Two thirds also employ at least one additional member of staff. The report’s authors are now calling on Government to acknowledge the significance of these firms and develop policies to help them thrive.

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January 22, 2015

MPs call on BBC to cut ‘staggering’ running costs of its estate

by Mark Eltringham • Facilities management, News, Public Sector

The body which oversees UK public spending has criticised the way the BBC is running its estate following the publication of a National Audit Office (NAO) report. While the report praises certain aspects of the way the estate is managed, especially its strategy of rationalising space, the Public Accounts Committee (PAC) is heavily critical of the BBC’s failure to meet its target of costs capped at 6 percent of licence fee income and the way the costs of some buildings are unacceptably high, including at the revamped Broadcasting House in London (above). According to the PAC, the running cost of the building is significantly more than others in the same area and around three times higher than a UK average. The BBC defended itself, highlighting progress in many parts of its estate and claiming that such comparisons did not stand up to scrutiny.

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January 13, 2015

Investors priced out of London commercial property turn to regions

by Mark Eltringham • Cities, News, Property

According to a report from Reuters, foreign competition in the London commercial property market is forcing local investors to invest in regional cities to tap rising rents there, with many making purchases privately to avoid auctions or even building office blocks from scratch. Commercial property in London has become a popular safe haven for investors from places such as Russia, China and southern Europe as a result of the financial crisis, and office prices have bounced back strongly from the lows. From a $4 billion battle for control of the Canary Wharf financial district to the creation of the capital’s tallest building, The Shard, thanks to oil money from the Gulf, many of London’s landmarks have had a helpful overseas financing hand.

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December 10, 2014

‘Empty desks’ costing UK business 18bn a year, as job vacancies go unfilled

by Sara Bean • News, Workplace

The economic impact of unfilled job vacancies on the UK economy may be leading to a staggering annual cost of over £18bn. Research by job site Indeed, claims that falling unemployment and robust job creation is resulting in many businesses finding it a challenge to locate and secure the right employees. This inability to find and recruit the right hire for a role is impacting on both the business itself and the wider economy in two major ways. For the employer, failing to effectively resource a business slows both production and profits, while in the wider economy unearned wages reduce consumer spending power and contribution to economic growth. ‘Empty desks’ in the real estate sector are having the greatest impact on the UK economy, due to high levels of contributed economic value (the goods and services that could be produced if the position were filled).

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December 2, 2014

Whatever you might hear, the death of the office is still some way off

by David D'Souza • Comment, Facilities management, Flexible working, Workplace, Workplace design

I was recently asked to join a roundtable about the future of office working at the offices of The Guardian newspaper. Being a simple soul I was quite confused to be asked about the ‘death of the office’ whilst sitting in an office. It seemed not only alive, but also very present. But maybe the sun is starting to set on that way of working. You can find the overview here and I’d draw your attention to the fact that according to The Guardian I had, after 2 hours, reached a point where I was ‘speaking for the whole meeting’. I’m sure I only spoke for part but it may have seemed more to others present. (more…)

November 25, 2014

UK business centres market continues to flourish, claims BCA and IPD report

by Mark Eltringham • Flexible working, News, Property

A new report has revealed just how important the growing business centres market is to the UK economy. According to the report from the Business Centre Association and Investment Property Databank the market is now comparable to the City of London both in terms of the number of people employed and the amount of office space it occupies. The report also outlines both the market’s robust health during the recent economic downturn and ongoing growth in response to increasing customer demand and the changing market for office space. The sector now boasts that it provides a home to some 80,000 businesses employing more than 400,000 people who occupy around 70 million sq. ft. of space including landmark developments such as the Regus No 1 Poultry centre in the City of London (above) and generate around £2 billion of income for the economy. The report, produced in conjunction with Snapdragon Consulting, found that the serviced office sector in the UK now represents around one third of the global market.

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November 24, 2014

New report offers occasionally surprising vision of the future of work

by Mark Eltringham • Flexible working, News, Technology, Workplace design

A new report into the future of work from Cisco claims –unsurprisingly – that employers are shifting their workplace policies to accommodate new demands from employees for more flexible working styles, regardless of their demographic cluster. The 2014 Cisco Connected World Technology Report also also claims that the majority of both Generation X and Y professionals already believe that smartphones and wearable devices will be the workforce’s most important communication devices by 2020 – while the laptop will maintain its place as the workplace device of choice. These devices and their attendant software and apps will drive the uptake of flexible working although sixty percent of respondents to the survey still prefer to take notes using a pen and paper. Two of the most intriguing findings of the report are that while just over half of Gen Y professionals think they are more efficient than older workers (roughly in line with the perceptions of older workers themselves) this is way out of step with the impression HR professionals, and the majority of people still believe that the future of work still lies in the office, at least some of the time.

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October 8, 2014

Two thirds of the world’s workers would move to another country to find a better job

by Mark Eltringham • Knowledge, News, Workplace

Almost two thirds of job seekers worldwide say they would be willing to move abroad for work, a ‘startlingly high proportion’ that says a lot about the evolving marketplace for talent, according to a new study by The Boston Consulting Group (BCG) and The Network, a global alliance of more than 50 recruitment websites. The report claims that the proportion of people willing to seek a better job abroad is particularly (and unsurprisingly) high in developing and politically unstable countries. But there is also a very high willingness to work abroad for workers in countries that don’t face such challenges. For example, more than 75 percent of survey respondents in Switzerland, more than 80 percent of respondents in Australia, and more than 90 percent of respondents in the Netherlands say they would consider moving to another country for work, according to the report, Decoding Global Talent: 200,000 Survey Responses on Global Mobility and Employment Preferences, and their preferred destinations are London, New York and Paris.

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October 2, 2014

Increasing numbers of over-65s will require flexible working rights

by Sara Bean • Flexible working, Legal news, News, Workplace

We can get so preoccupied with meeting the younger generation’s more flexible approach to work, that we miss the fact that a much greater challenge for employers is in managing the needs of the older workforce. Figures released by the Department of Work and Pensions (DWP) show that nearly a quarter of a million more people aged 65 and over have remained at work since the default retirement age was abolished three years ago. This means that more than a million (103,000) over 65s now choose to stay in work, compared to 874,000 in the quarter October to December 2011 – an increase of 229,000. There are now 9.1 million people aged 50 plus at work, accounting for 29.7 per cent of all those in work aged 16 plus in the UK (30.6 million). This means employers not only need to accommodate an increasingly diverse range of ages but must enable older workers to work more flexibly as they wind down from working life. (more…)

September 15, 2014

How we travel to work has enormous impact on wellbeing, claims new research

by Mark Eltringham • Environment, News

Part of London’s planned cycling infrastructure around Parliament Square

New research has further highlighted the important role that the mode of transport we choose to get work has on our physical and psychological wellbeing. Walking or cycling to work is better for people’s mental health than driving to work, according to the research by health economists at the University of East Anglia and the Centre for Diet and Activity Research (CEDAR). The report ‘Does active commuting improve psychological wellbeing?’ was published today in the journal Preventive Medicine and draws on 18 years of data from 18,000 people. It follows on the heels of two other reports published last month in the British Medical Journal and Science Direct which make related claims about the careful choices we should make about how we get to work.

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