Businesses prioritising retention of talent following Covid, finds employment survey

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Businesses prioritising retention of talent following Covid, finds employment survey

Over four out of five businesses across the UK are still struggling to recruit people in 2024 following the Covid-19 pandemic four years ago. A total of 81 per cent of employers revealed the main reason being a lack of candidates with the right skillset.

Hybrid working is also being considered as challenging with HR teams finding people don’t want to return to the office for a variety of reasons, including a number reporting that a factor is anxiety of having to be separated from their pets.

The research, compiled by the employment team at national law firm Freeths, analysed a variety of sectors and found that the main HR priorities for 2024 are retention of employees, health and wellbeing, diversity and inclusion and motivation, engagement, and performance management.

Amongst this:

  • The most common top HR priority for 2024 is employee retention
  • The most popular reason given for resistance experienced in getting staff to return to the office was that it meant a poorer work life balance.
  • Over 35% of respondents reported that a reason given to them for not wanting to return to work in the office was fear of being separated from their pets
  • Whereas only 20% of these surveyed cited family separation as a reason given for not returning to the office
  • Only a mere 11% of respondents said that they would trust AI tools to recruit the best candidates, and only 19% said that they had a good understanding of artificial intelligence HR tools available.
  • 43% of employers said that they would trust AI tools to support employee learning and development.

Rena Magdani, Partner and National Head of Employment at Freeths, said: “Our survey has provided valuable insights into how businesses are coping with the past and looking to the future. Employers are still experiencing the impact of the covid pandemic with challenges in recruitment and finding working arrangements that suit all parties.

“Looking ahead, there seems to be a low level of trust in AI, perhaps linked to the lack of knowledge of the available tools. It will be interesting to see the extent to which attitudes towards AI will change during this year.”

PR and communications agency appoints former journalist to support East Midlands growth

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PR and communications agency appoints former journalist to support East Midlands growth
A PR, communications and public affairs agency has made a major appointment in its bid to grow in the East Midlands. PLMR Advent, part of the Westminster-based PLMR Group, is based in Coventry and was founded 25 years ago. It has a string of clients in the East Midlands and is looking to grow its client base in the area after some recent wins. It has just appointed Leicestershire-based Paul Suart as an account manager. Suart has 20 years’ experience in the industry as a reporter, copy writer and content editor, most recently working for Reach plc. Suart will work across the PLMR Advent client base and will support growth in the East Midlands. Lee Corden, a PLMR board director who heads the Coventry office, said the appointment was part of a plan to extend the company’s footprint. “We work with clients locally, nationally, and internationally but have a strong focus in the Midlands as we are based in Coventry and Birmingham,” he said. “In recent years, that scope has widened and we work with clients both based in the East Midlands or with projects in the area. “That has gone very well on every level, with our work for them appearing in regional, national and trade titles, and we have grown our client base as a result. “We are delighted to have attracted Paul to join us. He has great experience in the media and his presence in the East Midlands will prove very useful as part of our ongoing push to attract more clients from that part of the region.” Suart added: “I had been considering moving into public relations but wanted it to be with an agency with the highest quality. I have dealt with PLMR Advent for more than a decade and I know how well they represent their clients. “They have a great knowledge of the media, employ staff who have a proven track record in producing accurate and relevant copy and are very sharp when it comes to what has news value. “As a journalist there are certain agencies you can rely on – and PLMR Advent is among the best.”

Island Quarter developer makes gym site purchase

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Island Quarter developer makes gym site purchase

The Conygar Investment Company has purchased the long-leasehold interest of the site occupied by Virgin Active gym, located on The Great Northern Close at The Island Quarter, Nottingham.

The freehold of the site is already owned by Conygar, with the leasehold purchased from Wood Pension fund.

The purchase, which enables better control of Conygar’s arrangements for this and the adjoining site at The Island Quarter, was subject to signing a new direct 25-year lease with Virgin Active at a rent of £600,000 per annum with a 12-month rent free period spread across the first 24 months.

This will replace the rent received by Conygar from the long-leasehold, which amounted to 10% of the rent previously received by the vendor from Virgin Active.

The purchase price of £5.9 million was funded by way of a drawdown of the second and final £7 million tranche of an existing debt facility with ASK Partners Ltd. The surplus funds received over the purchase price and associated fees will be applied in the further progression of The Island Quarter.

New East Midlands legal firm Devello Group signs up as drinks sponsor for the East Midlands Bricks Awards 2024

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New East Midlands legal firm Devello Group signs up as drinks sponsor for the East Midlands Bricks Awards 2024
Law firm Devello Group has joined the lineup of businesses backing the East Midlands Bricks Awards 2024, becoming the event’s drinks sponsor. Devello Group is a specialist planning and property development practice with offices in Nottingham and Lincoln, founded by experienced lawyers Shruti Trivedi and Iain Hibbert. Their niche law firm can help clients with a wide range of services in the sector, operating with a bespoke, value-led approach that does not use a traditional hourly fee-paying model. Devello Group also has a strategic arm, offering a high-level advisory service to developers, landowners, promoters and others in the planning and property development sectors. Speaking with Business Link, Shruti Trivedi said: “Devello are delighted to be sponsoring the Bricks Awards as what better way to mark our own start as a brand new business offering to the region than by being associated with the Bricks who burst on the scene similarly a few years ago with an innovative and fresh approach. “The Bricks have always been appealing as they value local and regional businesses in the region in an inclusive and fun manner but also connect these businesses with each other to foster relations and lay foundations for future working relationships. We are looking forward to being part of that community as that is very important to us as a regional firm and very much welcome the Awards as an opportunity to meet other businesses in a relaxed setting on the evening.” The East Midlands Bricks Awards, which will take place on Thursday 3rd October, at the Trent Bridge Cricket Ground, recognise development projects and people in commercial and public building across the region – from office, industrial and residential, through to community projects such as leisure schemes, schools and public spaces. We also highlight the work of architects, agencies and those behind large schemes. Winning one of these awards will add considerably to a company’s or individual’s brand and enhance their commercial reach significantly. Nominations are now OPEN for East Midlands Business Link’s annual Bricks Awards, which provide the ideal opportunity to celebrate successes, boost businesses’ profiles, showcase teams, reward their efforts, and bolster morale. To nominate your (or another) business/development for one of our awards, please click on a category link below or visit this page.
Award categories include:

Nominations end Thursday 5th September

A highlight in the business calendar, winners will be revealed at a glittering awards ceremony on Thursday 3rd October, at the Trent Bridge Cricket Ground – an evening of celebration and networking with property and construction leaders from across the region. Tickets can be booked for the 2024 awards event here. Connect with local decision makers over nibbles and complimentary drinks while applauding the outstanding companies and projects in our region. Attendees will also hear from keynote speaker Paul Southby, partner at Geldards LLP, chair of the Advisory Board to Nottingham Business School, chair of Broadway independent cinema, trustee of Clean Rivers Trust, chair of Nottingham Partners, board member of Marketing Nottingham and Nottinghamshire, and former High Sheriff of Nottinghamshire. Thanks to our sponsors:      

       

To be held at:

Council steps up mission to ensure £25m of Town Deal cash is spent

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Council steps up mission to ensure £25m of Town Deal cash is spent
Erewash Borough council is stepping up its mission to ensure £25m of government Town Deal cash gets spent in Long Eaton, a new report reveals. The authority is reassuring the public after it emerged most Town Deal projects across the UK are falling behind schedule. In a report to the Long Eaton Town Deal Board the council concedes it has not been immune to the kind of challenges faced elsewhere in the UK – where barely a fifth of towns fund initiatives have been meeting their own deadlines. Reasons include labour shortages and the impact of rampant inflation on costs. In Erewash a new business hub being created next to Long Eaton Town Hall was hit by the contractor going bust. The town’s West Park was due to get new lighting – but flooding from winter storms caused a delay. Both these projects are now resuming. Lampposts are being installed to illuminate the park, while new builders have been found to continue converting what is known as the old Stable Block. The biggest chunk of the £25m will be spent refurbishing Long Eaton’s town centre. Plans have advanced to a detailed design stage while consultations take place with residents and businesses. Work is scheduled to start in the New Year. The five key Long Eaton projects include building iconic new bridges, paths and cycle routes – and compulsory purchasing the derelict Galaxy cinema. The report stresses how most of the progress so far in terms of meeting delivery timescales is “in common with other Town Deals across the country.” All risks are being “actively managed” as feverish work goes on behind the scenes. The report says of a March 2026 deadline for money being spent: “The council believes this target can be met.” The Department for Levelling Up, Housing and Communities said earlier this year that the completion rate for Town Deal projects “is entirely consistent with the delivery timeframes we have set out.” It added: “All of the money which was allocated from the towns fund is on track to be spent by March 2026 as planned.”

Law firm acquires West Bridgford conveyancers

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Law firm acquires West Bridgford conveyancers
As part of a succession strategy, West Bridgford conveyancing firm Michelle O’Shea & Co has been acquired by AG Corporate Law. Founded in 1995 by Michelle O’Shea, the company is based on Exchange Road and has developed a five star reputation for delivering residential conveyancing services. Initially, there will be no changes to the management team or how the company is run under the new ownership. Michelle plans to continue working part time and oversee the work of the team of seven conveyancers and administrative assistants for an initial term of 2 years. Longer term the intention is to develop the existing team and recruit more people. Founded in 2023 by Adam Gilbert, AG Corporate Law is a boutique firm specialising in Corporate and Commercial Law. The acquisition of Michelle O’Shea & Co will be the second legal business to be owned by Mr Gilbert who plans to continue operating each brand as entirely separate entities due to their different geographic location and target markets but with the benefit of being able to cross refer work between the two firms. Michelle O’Shea said: “Once I had taken the decision to sell the business it was necessary to find a buyer who would be willing to retain the team and acknowledge that we have a robust and profitable operating model. AGCL is a perfect fit and Adam is committed to a ‘business as usual’ policy which has been good for the confidence of our staff and clients.”

Nottingham immigration law firm looks North

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Nottingham immigration law firm looks North

Nottingham’s OTB Legal, a UK immigration law firm, is expanding with a new Manchester base. The firm will be based at Bloc on Marble Street.

OTB Legal has grown consistently from its Chase Park headquarters just outside Nottingham. However, with demand increasing for immigration services in the region, OTB Legal’s Marcus Worthington says the time is right to expand the offering north: “Expanding our leading immigration team into Manchester is a strategic move aimed at better serving our clients in the area.

“Manchester’s vibrant and diverse community provides an excellent backdrop for us to deepen our connections with individuals and businesses navigating complex immigration laws.

“Our expansion into Manchester aligns with the city’s role as a magnet for talent and investment, positioning us to provide crucial guidance and advice as clients navigate the evolving landscape of immigration regulations and pursue their business and personal goals.”

The Manchester office will act as a northern hub for OTB Legal’s growing team.

Hannah Bowers, OTB Legal’s marketing manager, says: “We have a thriving and growing team and have plans for further growth in terms of expansion across the UK. I am based here at Bloc and the space is fantastic. It has a vibrancy to it that I know our team will love and I can’t wait to welcome them here.”

Real estate investor adds 315,000 sq ft of retail parks to portfolio

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Real estate investor adds 315,000 sq ft of retail parks to portfolio

Columbia Threadneedle Real Estate, the real estate investment and asset management specialist of Columbia Threadneedle Investments, has acquired Phase 2 and 3 of Merry Hill Retail Park in Brierley Hill and Phoenix Retail Park in Corby on behalf of separate client funds for undisclosed sums.

These recent acquisitions follow the purchase of Parkgate Shopping Park in Yorkshire earlier this year and reinforce Columbia Threadneedle Real Estate’s position as one of the largest retail park owners in the UK.

Phases 2 and 3 of Merry Hill Retail Park comprise a combined circa 197,000 square feet of retail warehouse and restaurant space on a site that extends to almost 15 acres with approximately 600 free parking spaces. Anchor tenants include The Range, Currys, Wren Kitchens, DFS and Pets at Home trading from a range of retail formats from 1,900 square feet to circa 52,000 square feet.

Phoenix Retail Park is the dominant retail park in Corby, offering 118,200 sq ft of retail warehouse accommodation with anchor tenants including M&S Foodhall, Matalan, The Range, Currys, Next and The Food Warehouse.

Its occupier mix is complementary to the demographics of the local catchment with a focus on food, discount and convenience-led retailing. It adjoins a 95,000 sq ft Asda superstore, which adds further critical mass, and the town of Corby has recorded significant population growth over the last decade, with further growth on the existing 203,000-strong catchment forecast thanks to a residential development pipeline of more than 12,000 new homes.

Tom Elviss, Fund Manager at Columbia Threadneedle Real Estate, said: “The simultaneous acquisition of both Phases 2 and 3 at Merry Hill Retail Park from two separate vendors constitutes a majority holding at one of the UK’s dominant retail warehouse clusters in the West Midlands. This presents a significant opportunity to maximise the assets’ potential under single ownership.

“Phoenix Retail Park is set to benefit from Corby’s sizeable residential development pipeline, which brings with it a catchment growth proposition that will allow us to enhance the tenant mix further.

“At both locations, we intend to draw on our strong retailer relationships and scale in the retail warehouse market as we seek to proactively asset manage the holdings to deliver strong returns for our investors.”

For the Merry Hill transaction, Harvey Spack Field acted for the purchaser and Morgan Williams represented the vendors, while Savills advised the purchaser on the Phoenix Retail Park acquisition and Knight Frank represented the vendor.

YMD Boon extends Midlands footprint

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YMD Boon extends Midlands footprint
YMD Boon, a team of architects, building surveyors and health & safety professionals, has opened its new office in Birmingham, marking a pivotal moment in the business’s growth strategy to extend its footprint across the Midlands. Over the past 18 months, YMD Boon has made significant strides by expanding into new sectors, securing positions on various procurement frameworks, broadening its client-base and boosting its employee headcount by approximately 30%. With established offices in Market Harborough, Nottingham and Lincoln, the expanding firm aims to replicate the successes achieved in these regions with a renewed focus on the West Midlands and surrounding areas. Located just off the M6 at the iconic Fort Dunlop, the new office will be headed up by Jonathan King, Associate Director of Building Surveying, and Shari Setayesh, Director of Architecture.  Jonathan King, Associate Director of Building Surveying, said: “We are really excited at the prospect of working with more organisations in and around the Birmingham area, expanding our network in the process. The move to this new office space strengthens our capabilities within Birmingham at a time when the region is experiencing remarkable investment prospects.” Shari Setayesh, Director of Architecture, said: “With established relationships with clients in the West Midlands and ongoing projects in the area, it was a natural progression for us to establish a presence here for our growing team. We look forward to continuing to grow our presence in Birmingham and surrounding areas!”

Watches of Switzerland hails “strong” finish to financial year

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Watches of Switzerland hails “strong” finish to financial year

Leicester-based Watches of Switzerland Group has finished its financial year “strongly,” with sales in the final quarter in line with guidance and ahead of consensus.

According to a trading update for the 13 weeks (Q4 FY24) to 28 April 2024, group revenue reached £380 million, a 4% increase on Q4 FY23.

It puts group revenue for the year at over £1.5 billion.

Brian Duffy, Chief Executive Officer, said: “We finished the year strongly, with Q4 sales in line with guidance and ahead of consensus. Particularly pleasing was the performance in the US, with sales up 14% in the period.

“We are confident that our strategy, exceptional client service and strong brand relationships enables us to continue to drive growth and gain market share. We have seen growth in our Registration of Interest lists for sought after products, and exceptionally strong performance of pre-owned, particularly Rolex Certified Pre-Owned.

“Our acquisition of Roberto Coin Inc. (the exclusive North American distributor of Roberto Coin) dramatically accelerates our luxury branded jewellery strategy, and we see enormous potential in bringing together this iconic brand with our retailing expertise. 

“We enter FY25 with cautious optimism. We have a terrific programme of showroom developments on both sides of the Atlantic with the Rolex flagship boutique on Old Bond Street, London; a 3,000 sq ft Rolex boutique replacing the Mayors multi-brand in Atlanta, Georgia; and our first Rolex showroom in Texas in Plano.

“We are also looking forward to the Audemars Piguet Town House and the Mappin & Webb luxury jewellery showroom both in Manchester, and the expanded Patek Philippe space in Greenwich, Connecticut. 

“The inherent strength of the categories we operate in, coupled with our superior business model and retail expertise continues to set us apart. We remain focused on executing our Long Range Plan and are committed to the targets to more than double sales and Adjusted EBIT by the end of FY28.”

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