Research from the Institute of Workplace and Facilities Management indicates that not everyone was afforded their first choice of workplace in their first week back, writes David Little, a Partner in our Corporate and Commercial department.
Tuesday 4 January was the first working day of 2022 for many, and according to the latest research from the IWFM, more than half of office workers had expected to be back in the office on Tuesday, and three quarters would have been back by the end of this week.
1,180 working UK adults and 878 office workers were asked about their working preferences, and the majority (73 per cent) who took a break over Christmas were ‘content or excited’ to return to the office this week.
Just over a quarter (27 per cent) were not looking forward to their first day back. Overall, just 16 per cent of office workers expected to stick with the majority home working after restrictions were lifted, in contrast to last year when eight in ten information and communication professionals worked from home.
Quoted here, Linda Hausmanis, CEO of the Institute of Workplace and Facilities Management, said, “Three quarters of us will be excluded from our first choice of workplace this week. Of course it is right that public safety comes first, but the costs to the economy and people’s health from poorly planned work spaces must not be forgotten.
“Hybrid working should offer the best of two worlds but for far too many of us it offers the worst of both. Younger home workers are especially at risk from isolation and a lack of safe working spaces. If hybrid is the future as most predict, employers must step up, review their workplace strategies in relation to the learnings of the last two years or risk losing their workforce to resignations and illness.”
High Pay Day Came a Day Late In 2022
Definitely running into their offices – with glee – would have been FTSE CEOs this week. According to the High Pay Centre, CEOs’ earnings for 2022 surpassed the average UK full time salary just prior to 9am, on Friday 7 January.
Their calculations are based on previous High Pay Centre analysis of CEO pay disclosures in companies’ annual reports, combined with government statistics showing pay levels across the UK economy.
This is the first time since the High Pay Centre was founded in 2011 that CEOs have needed to work into a fourth day in order to make the same pay a full-time worker would make in a year.
The most recent figures on CEO pay showed a 17% fall to £2.7 million in 2020 from £3.25 million the previous year, in light of the temporary pay cuts and bonus cancellations many companies announced during the initial lockdowns following the outbreak of the Covid-19 pandemic. Most FTSE 100 firms have not yet announced CEO pay for their financial year ending in 2021, but 57% of those that have recorded an increase on 2020 levels.
The High Pay Centre carried out polling with Survation on the public’s views regarding high earners and how they make their money. The findings included the following:
- 77% of people agree that high earners have had advantages in life such as more expensive education, family money and connections.
- 71% agree that high earners benefit from government policy more than low/middle earners.
- 59% disagree with the statement that high earners do more valuable work than low/middle earners.
- 63% disagree with the statement that high earners work harder than low/middle earners.
Welcome to 2022!
David Little is a Partner at Bishop & Sewell in our expert Corporate & Commercial team. If you would like to contact him please quote Ref CB262 on either 020 7631 4141 or email company@bishopandsewell.co.uk.
The above is accurate as at 07 January 2022. The information above may be subject to change during these ever-changing times.
The content of this note should not be considered legal advice and each matter should be considered on a case-by-case basis.
