November 16, 2018
New report writes an obituary for the commercial office lease
A new white paper from Magenta Associates (registration required) explores the fate of the traditional commercial office lease in the context of deep social, political and economic changes. Earlier this year, a group of senior corporate real estate (CRE) and facilities management professionals were invited to participate in a roundtable, led by author of The Elemental Workplace Neil Usher, to discuss whether time is up for the traditional commercial office lease and how viable alternatives might look in the future.
Over a quarter of businesses plan to hire temporary or contract staff in the next 12 months to help plug skills shortages created by digitalisation as more than half of CEOs are concerned about a lack of digital skills within their organisation. This is according to the Robert Half 2019 Salary Guide which argues that technology is reshaping businesses; with two in five UK organisations (38 percent) considering digitalisation as the main evolving force in the workplace today. This shift has created demand for a new set of skills, such as DevOps, data visualisation, data management and analytics. While softer skills such as resilience, adaptability and critical thinking remain key characteristics in potential employees, a third (31 percent) of employers state that a candidate’s technical skillset is their most important consideration when making a new hire. Around 1.6 million1 (28 percent) UK businesses plan to hire temporary or contract staff in the next twelve months, to combat the lack available talent required, which is creating a critical skills gaps in the workplace.
Workers are increasingly introducing technology devices, software and other tools into the workplace without their employer’s approval, claims a new report from NextPlane that examines the extent of this growing rift and its impact on collaboration and productivity. Nearly half of professionals (46 percent) said they or their team have introduced new technology into their workplace, and despite IT attempts to remain in control, workers are not standing down, as 53 percent said they or another team have pushed back on IT or management when they tried to dictate the technology they use.
A new report from the CIPD has found that most of those working in the HR and people management sector are confident exercising their judgement, with six in ten (64 percent) agreeing their job gives them the opportunity to fully express themselves as a professional. But more than just providing stimulating work, the people profession in 2018: UK and Ireland report shows the profession enables individuals to contribute to the ‘greater good’ and gives them a sense of purpose. People professionals also enjoy their job, with more than two-thirds of respondents saying their work makes them happy (70 percent) and energised (67 percent).
Despite political and economic uncertainly and the aftermath of the global monetary crisis in 2008, London remains a leading global financial centre, with nearly a quarter (24 percent) of the capital’s office take-up attributed to banking and finance occupiers over the last ten years. London is by far the most active banking centre in Europe, according to the latest research from global real estate advisor CBRE. According to the report, 1.1 million people were employed in the UK financial services sector in 2017, of which 34 percent were in London. 
