Half of City workers will not head back to the office THIS YEAR

Chris Biggs, Partner at Theta Global Advisors, comments on the implications of a second lockdown and the future of work

Earlier this week, London moved from ‘medium’ to ‘high’ alert, putting nine million people under new rules. This put London with most of the country at the lowest end of the scale, meaning no new restrictions beyond the rule of six and the 10 pm curfew.

However, with infection rates rising towards the 100 per 100,000 trigger point, the capital is now placed in Tier 2 – meaning a ban on different households meeting indoors. This means that millions of office workers in the City are now working from home once again to avoid being inside with others from different households.

Despite a huge change in working culture and practice for millions of Brits, working from home has presented opportunities to spend more time with family, save time on commutes and create a better work-life balance, helping with mental wellbeing and happiness.

Accountancy consultancy Theta Global Advisors has revealed brand new national research into the implications of another lockdown on the lives and careers of working Brits – and it seems City workers won’t be heading back to the office this year.

Key stats reveal:

– 51% of City workers are currently working from home and do not expect to return to the office until at least 2021

– 41% of London City workers say the COVID pandemic has encouraged them to look towards consultancy and freelance work or start their own business

– 45% of London City-based workers say the pandemic has made them realise what a poor work-life balance they had pre-lockdown and they will not return to it after COVID

– 63% of City-based workers believe the workplace of the future will have to change drastically for the better to avoid losing its best talent to freelancing and consulting

Chris Biggs, Partner at Theta Global Advisors, commented on the research and on the future of work for parents:

“Lockdowns across the country are seemingly forcing millions of Brits back into their home offices, behind kitchen tables and makeshift working spaces, but many Brits are welcoming increased working at home practices to improve their work-life balance and in turn, their mental wellbeing. It is therefore not surprising that the majority of working people want to see their working practices change for good, take stock of their personal and professional lives, and make work, work for them.

The world of work has changed immeasurably in the last six months but far more must be done to ensure that such a vital section of the workforce can work in a way that allows them to be productive and prioritise the needs of their families effectively. Companies could risk losing some of their best talent to either more flexible company cultures or freelance and consultancy work if they do not react to the new normal of professional practices.”