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Demand for office space outside London could soar, claims KPMG report

Demand for office space outside London could soar, claims KPMG report

New ways of working will boost UK productivity and increase employment levels in cities outside of London, according to a new report from KPMG. And as businesses in some sectors prepare for employees to spend two to three days a week working from home on a permanent basis, demand for office space could see capacity potentially increase by as much as 40 percent, according to a new KPMG report, New working patterns and the transformation of UK business landscape.

The increased availability of office space in major business hubs is expected to attract businesses from smaller areas to fill up the vacant space, with cities like Manchester, Bristol, Glasgow, Leeds and Birmingham set to see employment rise by 5-10 percent as a result. This will have a significant knock on effect for demand for office space.

Areas in central London are also expected to benefit, as well as smaller towns and cities with a large proportion of the workforce working partially from home. Meanwhile, less dense business areas could see a decline in employment and may need to be transformed into more residential, leisure, retail and other uses.

As the business landscape consolidates, KPMG analysis also claims the change could boost overall UK labour productivity by 0.5 percent, thanks to businesses being able to tap into a larger pool of workers, suppliers, and clients.

Yael Selfin, Chief Economist at KPMG UK, commented on the report: “As we emerge from the pandemic, businesses need to adapt to the new environment they will be facing. Some may choose to relocate to larger business hubs to boost profitability, while others in less central areas could see their local customer base profile change. While the overall impact on the UK economy is expected to be positive, the changes ahead could prove challenging for those businesses already saddled by the pandemic.”

The report examines how local high streets in residential towns and neighbourhoods are expected to reap the benefits of greater homeworking through increased demand by residents during the week. But the impact on high streets across the UK is unlikely to be uniform. Some places may be hit relatively hard by the loss of office workers due to their proximity to a larger business hub, which may be compounded by the loss of commuter footfall among remaining employees due to the prevalence of working from home.

Yael Selfin added: “As people spend more time working from home and less time in the office, we could see a revival of the local high street.

“They will need to transform into places of purpose to meet demand for community-based services, hospitality, culture, as well as retail. High street offering in smaller towns and cities may need to become more focused on residents’ needs and less focused on businesses and commuters.

“This transformation will require local government, residents and businesses to work together to map their future shape and make concrete plans to support and enable the necessary changes to make the most of the new post-Covid business reality.”

Chris Hearld, Head of Regions at KPMG UK, commented: “Over time, a shift in business location could support the rise of several major business hubs across the UK. An increase in the concentration of businesses and workers has the potential to make those businesses located there more productive and enable these areas to serve as the engines of economic growth. This should also support the Government’s Levelling Up agenda. Cities like Manchester, Leeds, Birmingham, and Newcastle stand to benefit from such a consolidation of business locations. For this to happen they will need government to work closely with local leaders to ensure the transition is smooth and any barriers to growth are quickly ironed out.”

Majority of younger workers fear loneliness from long-term home working

Majority of younger workers fear loneliness from long-term home working

homeNew research from Kadence claims that since working from home, Gen Z and Millenials feel disproportionately isolated, and say it is negatively impacting their ability to build and develop relationships at work – and potentially harming their career progress. (more…)

The focus on indoor air quality is a welcome outcome of the pandemic

The focus on indoor air quality is a welcome outcome of the pandemic

indoor air quality in officesHow has COVID-19 affected your office management practices? And what adaptations are you expecting to keep, as other parts of the building experience go back to normal? One area of adaptation that is prime to be kept long-term is greater effort spent monitoring property health and wellness metrics. While occupancy and cleaning frequency are both important to keep track of, Indoor Air Quality (IAQ) is also critical for landlords to keep an eye on. (more…)

Brits feel stressed eight days a month, study claims

Brits feel stressed eight days a month, study claims

stressedA new study, commissioned by CIPHR, claims that most British adults (79 percent) feel stressed at least once a month, with the average being eight days a month. (more…)

I’m a Luddite. You should be one too

I’m a Luddite. You should be one too

The leader of the Luddite movementI’m a Luddite. This is not a hesitant confession, but a proud proclamation. I’m also a social scientist who studies how new technologies affect politics, economics and society. For me, Luddism is not a naïve feeling, but a considered position. And once you know what Luddism actually stands for, I’m willing to bet you will be one too — or at least much more sympathetic to the Luddite cause than you think. (more…)

Over half of UK employers say their staff work additional unpaid hours every day

Over half of UK employers say their staff work additional unpaid hours every day

unpaid hoursIn its latest whitepaper, Cendex, part of XpertHR, claims that staff at over half (53 percent) of UK organisations are working additional unpaid hours every day. A quarter (24 percent) of employers put this down to the pandemic and its resultant uptick in remote working, as they believe working from home blurs the line between work life and home life. (more…)

Executives think work should be split 70:30 between office and home

Executives think work should be split 70:30 between office and home

A new survey from the Economist Intelligence Unit backs up the most commonly cited form of ‘hybrid working’ by claiming that business executives on average think work should be split 70 percent / 30 percent between the office and home respectively.  In A changed workplace after covid-19, published  by The Economist Intelligence Unit and sponsored by Kyocera Document Solutions, the authors argue that Covid-19 was a watershed moment in the way we work. (more…)

Nearly half of British business leaders fear losing the UK’s best talent abroad

Nearly half of British business leaders fear losing the UK’s best talent abroad

businessMovePlan in partnership with Hanson Search, claims that 40 percent of business leaders fear that the combination of the pandemic and Brexit will see their best talent disappear abroad, making hiring more challenging, just as the country begins to return to the ‘new normal’. (more…)

Workplace technology helped meet short term lockdown challenges, but its real impact is yet to come

Workplace technology helped meet short term lockdown challenges, but its real impact is yet to come

the future of workplace technologyThinking back to the fast pace of life 18 months ago, the working day looked very different. COVID-19 forced a significant adjustment in how many workforces operate, including the enforced use of multiple workplace technology tools to collaborate. How will our use of collaboration tools change as we go through pandemic recovery? How can businesses ensure they continue to transform their workflows in a way that gives them maximum efficiency and productivity? (more…)

Castaway workers have forgotten the art of small talk, getting dressed and colleagues’ names

Castaway workers have forgotten the art of small talk, getting dressed and colleagues’ names

castaway workersA third of UK workers admit they’ve forgotten the password to their computer, office entrance or locker, one in five workers have forgotten a colleague’s name or called them by the wrong name and say their small talk skills have been impacted by working from home. Those are some of the findings of a new report from Michael Page into the effects of a year and a half of lockdown and workplace disruption. (more…)

Digital twin and other tech to benefit from landmark $3.5trillion infrastructure package

Digital twin and other tech to benefit from landmark $3.5trillion infrastructure package

Siemens digital twinGrowth in key tech sectors is set to rocket after a landmark $1 trillion infrastructure package bill passed in the US Senate, part of a comprehensive $3.5 trillion plan within President Biden’s post-COVID Build Back Better initiative and paralleling the UN’s Race To Zero campaign. There had been an upward trend in share prices for companies in several tech sectors already, but Pitchbook research identified nanotechnology and digital twin technology as most likely to gain from the new bill – the largest public investment in America’s infrastructure for decades. (more…)

The future of work will be shaped by the needs of workers

The future of work will be shaped by the needs of workers

The future of work and lifeAs the UK government has withdrawn its advice for employees to work from home, more organisations than ever will be instituting what have become known as hybrid working models: 68 percent globally, according to research from  Steelcase. Definitions of “hybrid work”, however, are often contradicting and unclear – leaving business leaders without definitive guidance about how to approach the future of work. To provide businesses with a more concrete view of what hybrid working looks like in reality, and provide tangible actions to help streamline productivity and collaboration, Steelcase have researched the experiences and needs of workers worldwide in their report: Changing Expectations and the Future of Work. (more…)