11.02.2021

Employers must ‘fire up office culture’ to prevent London exodus

London-based businesses may struggle to get staff back into the office, even after restrictions are lifted, as many young people plan to leave the capital or have already done so

A new survey of 1022 Londoners aged 18-34 showed that 55 per cent want to leave London when restrictions ease.

The survey was conducted by Urban Jungle, which provides home and contents insurance to renters and those in shared accommodation, and suggests the capital is losing its allure as young professionals embrace working from home.

When asked where they would like to live post-pandemic, just 45% of young Londoners chose the capital. Whereas 19% opted to live somewhere greener such as a village or the countryside.

Roughly 8% of respondents said they wanted to live in a different city. Whereas, 9% of young people expressed a desire to travel.

Jimmy Williams, founder and CEO of Urban Jungle, says the pandemic looks likely to have a long-term impact on work and life in London.

“Employers based in London and other large cities are going to have to think long and hard about ways to entice people back to the office. A big part of living and working in a city is the social life that comes with it. They need to fire up their office culture and put some fun back into work.

“Right now, young people are stuck in flats, paying rent, for very little in return - they just aren’t going to stick around for no good reason. As an employer myself, I believe company culture is everything."

Urban Jungle’s data supports findings by a recent report by PwC, which predicts that, in 2021, London’s population is likely to decline for the first time this century.

“This is going to have a big impact on businesses based in London," added Williams. "While many tech businesses can and do work well remotely, we all still need in-person collaboration. With so many young people hoping to escape the capital after lockdown, what happens when the best young talent leaves London?"

Urban Jungle also looked at data from their own customers to identify any change in behaviour. It showed there had been a big increase in those moving out of London.

Comparing the percentage of customers changing address during the period March to December 2020 with the same period in 2019, Urban Jungle found a 149% increase in those changing from a London address to one elsewhere.

About half moved to other cities. However, the data showed there was a 73% increase in people moving to towns and more rural areas.

Williams says entrepreneurs are going to have up their game to keep hold of staff and rebuild their teams.

“I believe that young people, in particular, like the sociability of being in a workplace. We used to have a lot of parties and social events, and it’ll be great to be doing a lot of those things again.”

https://myurbanjungle.com/explore/blog/where-should-you-live-after-lockdown/

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