Travel time nearly as important as salary to City workers

Nearly three-quarters of City workers claimed they would look
for another job if their company relocated to a business park outside the M25.

Research by property consultants GVA Grimley shows that a
shorter journey time is the second most important factor after salary increase
that tempts employees to move firms.

“Firms seeking to take advantage of lower rents and more
space in less central locations must ensure that they take account of the full
financial implications of such a move,” said Stephen Robinson, London regional
senior partner at GVA Grimley.

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“The benefit of more spacious or cheaper offices could
potentially be far outweighed in the short-term by the disadvantage of a sudden
turnover of staff. Some places appeal to professionals more than others and it
is important to gauge staff reaction and weigh these up against other factors
before committing to a particular relocation.”

By Paul Nelson