Yet their productivity is not increasing. This counter-intuitive outcome is the productivity paradox that is debated endlessly by economists, politicians and business leaders.
When it comes to possible solutions, they may all be looking in the wrong place. A growing body of evidence suggests that productivity is linked directly to people’s happiness and wellbeing. For example, a report published at the end of 2016 by economist Dr Eugenio Proto of the University of Warwick concludes that there is a direct correlation between a rise in happiness and an increase in productivity, based on the experience of a number of large companies who took part in the research.
One of the best explanations for this link between happiness and productivity is also one of the oldest and best known. Abraham Maslow first proposed his model of the hierarchy of needs in a 1943 paper called ‘A Theory of Human Motivation’. His work has been paralleled and built upon by other researchers since, but few have had the influence and longevity.
It says a lot that it still seems relevant in the 21st Century and may be the key to solving one of the economy’s most intractable conundrums.
Straight after announcing the Government’s plan for Brexit last week, the Prime Minister Theresa May presented the UK’s stance on global economic policy and opportunity at Davos, The World Economic Forum that brings together political and business leaders from around the world.
Last week also saw Donald Trump’s inauguration as President of the United States of America. This diary clash with Davos hasn’t gone unnoticed with some pundits suggesting that Davos without Trump is a bit like ‘Hamlet without the Prince”. However, this may just be setting the scene for a less predictable (but not unexciting) political landscape that faces us all in 2017.
As some of the surprises of last year have now become a reality, we thought it would be fun to ask the BW team for some thoughts on what they think may lie ahead in 2017.
Andrew Bradley, Finance Director
Likely – Demand will remain despite the cataclysmic developments of 2016 in Brexit and Trump and rent prices will be static
Probable – More agile working development will be undertaken by clients who are looking for ways to be more efficient in their use of space and not take on extra space if not necessary
Unlikely – The owner of the shard, impressed by the decor of trump towers, will refurbish the building in Trump’s favourite colours
Rob Frank, Customer Experience Director
Likely – Increase interest from international buyers both in housing and commercial due to weaker pound.
Probable – No luxury price growth in the city
Unlikely – Buy to let will boom
Anthony Brown, Sales & Marketing Director
Likely – Strong economic growth in US (inflation, with at least 2 interest rate rises in the US)
Probable – Angela Merkel will be awarded the Nobel Peace Prize for humanitarian efforts towards Muslim refugees
Unlikely – Neylon – London and New York relocate to a sunny mid-Atlantic island location and declare independence
Steve Elliot, CEO
Likely – Chelsea will win the Premiership despite Diego Costa selling out to the Chinese.
Probable – Nothing will change with Trump in power
Unlikely – Brexit accelerates labour shortages and CEO’s have to do a weekly shift on site.
Peter Nagle, Contracts Director
Likely – Digital Construction will develop further with the development of BIM level 3
Probable – More companies investing in the UK to avoid EU law, regulations and tax
Unlikely – Trump will build a Narco-style wall
Lydia Millard, Senior Business Development Manager
Likely – Gentle slowdown in construction but Cat A and <£25M will remain strong
Probable – Nothing will change with Trump in power
Unlikely – Artificial intelligence development will accelerate and robots will take over from humans as the superior race
We’d love to hear thoughts on 2017, please share your predictions!
The first project to have been shortlisted for ‘Best Fit Out of Workplaces’ is our 13,417 m2 hotel quality Fit Out of One Fizroy, London with MCM Architecture.
With the client’s vision in mind a number of innovative solutions across the whole project were developed including;
A fully integrated Room Booking, Brand Identity, Access Control and Conference Delegate System.
Significant reduction in personal office space and the delivery of greater collaborative working.
The creation of the M’Office space to allow cellular offices to be used by teams when designated occupiers are absent from the office.
Collaborative Procurement (Hybrid Two Stage Design and Build) which allowed clarity on risk sharing, maintained high degree of control over design by the client but maintained competition up to contract.
The procurement resulted in a well- focused and collegiate working experience for both construction partner, client and design team.
The second project to have been shortlisted for ‘Projects up to 1500m2’ is our brand new office at 5 Old Bailey, fitted out in collaboration with KKS.
The office was designed with a sense of community in mind. We deliberately incorporated lots of collaboration spaces to not only enable our staff to work together but encourage our clients and partners to work agile when they are in town. People love working in coffee shops which is why we wanted to create a similar vibe and buzz here.
Our main brand narrative is ‘Built With: Personality’ – the sense of community created in the office design reflects this value and really encourages staff to work together and learn from each other. There is a real sense of spirits being lifted since we moved into the new space. It is a really bright, fresh design which really reflects the evolution of the brand into a new breed of innovative Fit Out contractor.
We are currently looking for a full-time Estimating Administrator to provide support to a team of 6 in a demanding and fast moving environment. The successful candidate will be self-motivated, methodical and proactive in their approach to the work.