Reply to: State of the Market

[Fraidycat]

We need lower interest rates

It's all about rates cuts, if they can cut rates enough without causing another bout of inflation we will be off to the races again.

But the BOE projection is 3.5% to 3.25% rates in 2025 and 2026.

Will that be enough?


The state of the market is currently dire in terms of job postings, at December/xmas levels, and that was even before the election was announced.

[gables]

Putting money into the pockets of coffee shop owners and commercial property landlords isn’t the greatest justification for working from an office I’ve ever read.

We need lower interest rates and some business confidence. Almost every sector is ripe for investment with the advancement of LLMs - every company is worried about getting left behind. At a fundamental level, and with potential for a new government to (at the very least) allow for new and optimistic narratives to hook onto, we could be in a great position in a few months time.

It's no justification at all. Don't get me wrong whilst I love WFH I can see business benefit by being in the office so as long we're not all stuck on zoom\teams calls all day. In fact where I currently work (HSBC) the department head suggested a return to the office would be coming, at which point the permies raised exactly the point about being on video calls all day i.e. they requested that this didn't happen and requested that in office attendance was focussed around face 2 face sessions, meetings etc

[gables]

If we all returned to the office, the company would have no choice but to hire space, thus, increasing the footfall to that particular area. Coffee shops, bars, eatery's.

Landlords would be happy and we would not have so many empty offices.

I believe that WFH has backfired. The money that was saved during Covid was used for projects last year which is why we had a mini increase. Now all that rent money has been spent, we have no money for new projects and no money for an office.

and decrease footfall to local area, coffee shops, bars eatery's etc.. ah but who cares about where people actually live so as long as Starbucks in the city is fine. I've noticed a definite benefit in my local area from, presumably, more people working from home.

[churchillsnip]

Putting money into the pockets of coffee shop owners and commercial property landlords isn’t the greatest justification for working from an office I’ve ever read.

We need lower interest rates and some business confidence. Almost every sector is ripe for investment with the advancement of LLMs - every company is worried about getting left behind. At a fundamental level, and with potential for a new government to (at the very least) allow for new and optimistic narratives to hook onto, we could be in a great position in a few months time.

[SchumiStars]

If we all returned to the office, the company would have no choice but to hire space, thus, increasing the footfall to that particular area. Coffee shops, bars, eatery's.

Landlords would be happy and we would not have so many empty offices.

I believe that WFH has backfired. The money that was saved during Covid was used for projects last year which is why we had a mini increase. Now all that rent money has been spent, we have no money for new projects and no money for an office.

[oliverson]

To play devil's advocate, who are the kids going to learn from and interact with if the old timers with the experience to share are WFH because they've "put in their desk duty"?

The mid-levels?

[ladymuck]

Then there's the never ending DPD vans pulling up, everybody in your neighbourhood undertaking building work (extensions, new gardens, etc), the missus hoovering up, the dogs barking at cat's they can see through the patio doors/living room window. Thank god we don't have kids thrown into the mix. Let's not kid ourselves that we're sat there in total silence and bliss, being > 100% productive.

However, this totally remote gig suits me given my age and the fact my career as a contractor is coming to a close. I've put in my desk duty over the 40 years I've been in work but I've no intention of living in somebody's spare room or hotels mid-week back down in London like I did for 10+ years. But I think it's critical for younger people to get back to the office, at least part of the time. Isolation isn't good and learning from and interacting with others is important. There's also the wider economy that could do with it.

To play devil's advocate, who are the kids going to learn from and interact with if the old timers with the experience to share are WFH because they've "put in their desk duty"?

[dsc]

Then there's the never ending DPD vans pulling up, everybody in your neighbourhood undertaking building work (extensions, new gardens, etc), the missus hoovering up, the dogs barking at cat's they can see through the patio doors/living room window. Thank god we don't have kids thrown into the mix. Let's not kid ourselves that we're sat there in total silence and bliss, being > 100% productive.

Get yourself a pair of cans (headphones for those not familiar with the term) for £100 or some noise cancelling earphones (although those are typically a joke with the noise cancelling but better than nothing I guess) and work away. I'd go mental without anything to block all the noise from outside, but that's true for the office as well.

Also, set you status to busy on Teams and ignore anyone trying to contact you if you are really busy and want to do work.

[oliverson]

i know lots of people on here like remote and WFH. For me if you actually want to get work done it's a nightmare.

I ping someone, they are away / on a call. They ping me, I am away / on a call. Hours pass by.
In the office you trot to their desk when you see them free and have a 5 minute convo.
Sitting on calls is draining and I feel the headset is a cage sometimes. Much rather meet F2F.

Then there's the never ending DPD vans pulling up, everybody in your neighbourhood undertaking building work (extensions, new gardens, etc), the missus hoovering up, the dogs barking at cat's they can see through the patio doors/living room window. Thank god we don't have kids thrown into the mix. Let's not kid ourselves that we're sat there in total silence and bliss, being > 100% productive.

However, this totally remote gig suits me given my age and the fact my career as a contractor is coming to a close. I've put in my desk duty over the 40 years I've been in work but I've no intention of living in somebody's spare room or hotels mid-week back down in London like I did for 10+ years. But I think it's critical for younger people to get back to the office, at least part of the time. Isolation isn't good and learning from and interacting with others is important. There's also the wider economy that could do with it.

[ladymuck]

not to be confused with 'convoluted' which is what some side-of-the-desk 'convos' can end up being

[hobnob]

really? since when? - wouldn't 'talk' or 'chat' or another English term be more useful?

I don't know how long the word's been around, but it's in the Cambridge dictionary:
CONVO | English meaning - Cambridge Dictionary

I don't normally use it, but I understand it when other people say it (as did Snooky).

[sadkingbilly]

Not a term i read or hear often either so i asked the AI:

"Convo" is a colloquial and abbreviated form of the word "conversation." It is often used in informal contexts, particularly in text messaging, social media, and casual speech. The term is commonly employed to save time and space when communicating quickly.

[Fraidycat]

really? since when? - wouldn't 'talk' or 'chat' or another English term be more useful?

Not a term i read or hear often either so i asked the AI:

"Convo" is a colloquial and abbreviated form of the word "conversation." It is often used in informal contexts, particularly in text messaging, social media, and casual speech. The term is commonly employed to save time and space when communicating quickly.

[sadkingbilly]

"convo" is short for "conversation".

really? since when? - wouldn't 'talk' or 'chat' or another English term be more useful?

[hobnob]

is '5 minute convo' a euphemism? what's a convo?

"convo" is short for "conversation".