< Previous East Midlands Business Link www.eastmidlandsbusinesslink.co.uk COMMERCIAL PROPERTY were transferred to developer Compendium Living in 2023. This latest phase, which was given the go-ahead by planners in May, will provide 112 new homes in a mix of two-, three-, and four- bedroom houses, and one- and two- bedroom apartments. In total Castleward will present around 800 new homes, alongside green spaces, commercial units, and a new gateway to the city, in one of Derby’s largest regeneration projects. Demolition for phase four comes after the full completion of phases one and two, featuring the construction of a brand new primary school and the opening of showhomes at phase three. Meanwhile, in Nottingham, a 409-unit purpose-built student accommodation (PBSA) scheme spanning 11 storeys has topped out. Construction began on ‘The Place’ in February 2023 and is scheduled to complete in time for the 2024/25 student intake in September. The Place will offer amenity spaces including a gym, private dining room, study and breakout spaces as well as a sky lounge on the roof, with panoramic views over the city. The Place is property development and investment company, MRP’s first project that it will directly fund and bring to market as both developer and owner. Graham Mitchell, development director at MRP, said: “While we have extensive experience in the PBSA sector, The Place is a unique development for MRP as it is the first scheme we will develop and open ourselves. Our partners Grosvenor have been instrumental in ensuring that we are able to deliver this project, and we look forward to working closely with the team at Homes for Students on completion. The expertise of McAleer & Rushe as construction partner on this project has been invaluable and their experience in delivering projects of this size will ensure that we remain on course for practical completion in summer 2024.” In another significant development for Nottingham, Citra Living is to bring 95 new apartments to the private rental market as work commences on the redevelopment of the city’s iconic British Waterways building. Citra, part of Lloyds Banking Group, has acquired the entirety of the Grade II-listed residential scheme. The homes have been developed with H2O Urban, a long-term joint venture between developer bloc and the Canal & River Trust, which owns and manages the surrounding canal network. With a shared aim to regenerate underutilised land and buildings close to waterways infrastructure, the joint venture has aimed to maximise the social and economic potential of the sensitive canal basin site. The apartments include a mix of studio, one- and two-bed homes, with residents to benefit from communal space, as well as having access to canal-side public realm. Car parking spaces will be provided in the basement of the development, while secure internal cycle parking will also be offered to help residents take advantage of the city’s improving cycle network. The refurbishment of the British Waterways building features a rooftop extension that will provide eight apartments with views over the city. Local contractor Jessops Construction have been appointed by www.eastmidlandsbusinesslink.co.uk East Midlands Business Link H2O for the construction works which are expected to complete in early 2025. Finally, Leicester City Football Club’s hybrid planning application for the development of the King Power Stadium and surrounding site has received formal approval from Leicester City Council. It follows the Council planning committee’s initial approval in September 2022, with this final decision being held pending the finalisation of a Section 106 agreement in relation to the proposed development, which has now been concluded. The hybrid application, initially submitted for consideration in October 2021, consisted of a detailed planning application for an East Stand expansion of 8,000 seats, along with an outline application for a wider masterplan, including a fanzone and public realm, an event and entertainment arena, a 220-room hotel, a residential tower, and a new flagship club retail space. The wider masterplan is considered critical to the viability of the overall project, and the grant of outline permission for these additional elements represents a crucial milestone for the overall development, whilst also providing the Club with an opportunity to reassess its detailed proposals in light of market dynamics which have changed significantly since the proposals were initially submitted. The Club’s acquisition of further adjacent land since the planning application was first submitted can also now be factored into the vision for the site and presents a chance to strengthen the Club’s commercial proposition. © stock.adobe.com/michael715 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk 2024 BUSINESS PREDICTIONS Looking ahead It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead. © stock.adobe.com/MangKangMangMeewww.eastmidlandsbusinesslink.co.uk East Midlands Business Link 2024 BUSINESS PREDICTIONS Emma Speirs, Managing Director, Ballyhoo PR PR moves fast and is ever evolving. In a world where people can now essentially publish their own stories without passing through third parties such as newspaper editors or journalists, there is a very real risk of fake news and propaganda being taken as truth, so data-based stories are going to be more popular in 2024. Consumers of the media, or social media, will be looking for proof that what they are reading is true. The new year will also see digital PR begin to drive SEO (search engine optimisation) strategy rather than the other way around. Digital PR is a secret weapon in your PR and marketing arsenal. More than just online coverage, it is a fantastic way to support your SEO strategy as you are naturally having articles published on topics relevant to you and your business that you also want to rank on Google for. 2023 saw the rise of artificial intelligence (AI), and while there are some huge benefits to using AI in your PR and copywriting, such as to generate creative ideas, it can’t be a replacement for genuine expert comment and brand personality. Using AI to write expert comment or opinion pieces means companies are not sharing their own knowledge and experience, but instead regurgitating what is already out there on the internet which will damage their brand. In 2024 companies need to cut through that noise and show more of who they are, what they know and why people should trust them and their business. Bringing the human back into PR and storytelling to show authenticity, build credibility and spark emotional connections will be essential. Kul Mahay, emotional intelligence expert and founder of Ignite Your Inner Potential The culture within workplaces is changing – and organisations will need to continue to work at relationships with employees and be certain of their core values if they are to succeed in 2024. Over the past few months, I have seen more and more organisations ensuring that their goals and their ethos aligns with that of their employees and clients or, quite bluntly, they’re cutting ties. We’re a changed world, and leaders need to stay relevant and informed if they are to retain talented members of staff. People are our greatest resource as business owners and they need to be seen, heard, valued and appreciated. Creating workplace cultures where people are looked after, and feel psychologically safe is probably the number one priority right now. Only then can they thrive. Organisations need to understand the power of Human Centred Leadership and the value that it can bring in getting the best from your people. Virgin’s Richard Branson is a great example of a human-centric leader; he’s consistently good and knows the value of people. We will see lots of varying leadership styles in the spotlight over the next 12 months, especially with a general election looming. It will be interesting to see and study the contrasting methods of leadership, and maybe take a few notes to bring back to the workplace. East Midlands Business Link www.eastmidlandsbusinesslink.co.uk 2024 BUSINESS PREDICTIONS Alex Hudson, market senior partner at PwC East Midlands It’s fair to say that 2023 was a challenging year for businesses, from economic uncertainty to geopolitical events which impacted the market. That said, there were also many opportunities created, and as we look forward to 2024, we should consider how we can take advantage of these. Productivity was a hot topic for 2023 and this is set to continue. The PwC Productivity Tracker, which takes a human-led and tech-powered approach to analysing the various components that make up productivity, focused on the regional differences in terms of productive growth. Out of the 12 regions, when comparing rates of productivity growth, the East Midlands achieved fourth place, highlighting the opportunity we have to increase our regional output. The Tracker indicated that the regions who perform the best prioritised change and innovation, be it through development, regeneration or investment to name a few. It also underlined the close relationship between strong productivity growth, talent availability and high skills levels, all of which we have here in the East Midlands. With the recent announcement that the East Midlands investment zone is to be extended, as well as the free port we have at East Midlands and the Combined County Authority devolution deal set to be realised in summer, 2024 should present a lot of opportunities for growth for East Midlands businesses. Parm Bhangal, Managing Director at Bhangals Construction Consultants Following a busy market and a lot of investment post Covid, I believe that 2024 will be a much quieter year in the construction industry than we have been used to in recent years. Interest rates and the cost of borrowing has gone up significantly, which has meant some developers and homeowners looking to do bigger projects have been temporarily forced out of the market. The dramatic increase in interest rates over the last year has seen a huge impact on the property market, which in turn affects the construction industry. And because the sector is quietening, I anticipate that labour costs will continue to fall, gradually. Builders and contractors are likely to need to work harder to secure contracts and look at their price points in order to lock in longer term projects. Many tradespeople will be forced to bring prices down in order to compete and guarantee security. Lately, we have seen materials prices begin to fall too as supply catches up with demand and I think that trend will continue as we go into next year. Construction and property require such huge investment that it is currently seen as too great a risk for many. Anyone wary of the current climate is likely to hold off on investing until there is more positivity in the market. www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 2024 BUSINESS PREDICTIONS Nikki Wills, co-director of Wills Consultants Without a doubt the biggest trends for recruitment in 2024 are going to be – Artificial Intelligence (AI), hybrid working and DEI. AI is already embedded in the recruitment industry and 2024 will be about understanding its limitations. While AI automation is streamlining recruitment processes across the world, it cannot replace an experienced consultant’s soft skills such as negotiation, relationship building, and emotional intelligence. We are already spotting AI produced CVs so recruiters and HR functions will need to read between the lines as this advanced technology outpaces legislation. Embracing this technology will no doubt offer you reward, but it is still not a replacement for the human touch. Hybrid working will see a scaling back as employers seek to build and enhance their workplace culture. It will still be sought after, however, with a focus on employee health and wellbeing, work futurists see the lone worker missing out on the employee experience. This becomes extremely import when recruiting and offering the most attractive packages. We are now able to source from a global talent pool and employers are being held to very high standards. Offers of flexible hours and bonuses are not going to be the only attractions candidates are looking for. Your DEI policies and strategies will be scrutinised so get them in order and continue to deliver on any promises you make. The social economic climate has seen cause for retirees to return to work. Part time roles will be sought after as businesses capitalise in the benefits that a multigenerational workforce can bring. Simon Bond, director, Bond Legal Limited There is no doubt that 2024 looks set to be a year of change and uncertainty in relation to HR and employment law. Employers will need to grapple with a substantial quantity of new legislation that is expected to come into force throughout the year. A combination of new rights for employees and additional duties for employees include: * changes to the way in which employees can make flexible working requests; * additional protections from redundancy for pregnant employees and those on maternity and other family leave; * a new right for carers to take one week’s unpaid care leave each year; * the statutory right for those on zero-hour contracts to request a more predictable working pattern; * a new duty on employers to take reasonable steps to prevent sexual harassment; * the introduction of 12 weeks’ paid leave for the parents of babies in neonatal care; * changes to the rules around the calculation and payment of holiday pay; * provisions allowing direct consultation with employees under the TUPE regulations; and * increases to the rates of the national minimum wage. Further legislative change is likely as a General Election looms in May. If the Labour party win, they have pledged to introduce an Employment Rights Bill within their first 100 days of office, which is likely to unveil far reaching changes. I predict that the economy will also have a significant impact within the workplace next year. According to the Advisory, Conciliation and Arbitration Service (Acas), 30% of employers may make redundancies in the next year as a result of financial challenges, so it’s a good idea to get your employee handbooks up to date so that both employers and employees know where there stand on all HR matters. It will be no doubt be another interesting year ahead. East Midlands Business Link www.eastmidlandsbusinesslink.co.uk PRODUCTIVITY & EFFICIENCY IN MANUFACTURING SPOTLIGHT E fficiency and productivity, the twin pillars of successful manufacturing operations, go above and beyond the boundaries of good business. As just one example, consider the commitment of an electronics manufacturer to producing high-quality circuit boards. Their dedication will also involve optimising production processes, minimising waste, and reducing costs—a testament to the universal objective of achieving more with fewer resources. Tech itself has become a force to be reckoned with in these matters. A perfect example of the interlinked and sometimes cyclical goals of manufacturing, industry is helping itself usher in increased efficiency across contemporary manufacturing. Take any number of manufacturing plants in which robotic arms can execute repetitive tasks. Technologies such as these taking the weight of manual labour means human Production in evolution We explore the challenges faced in manufacturing and delve into strategic solutions for navigating the constant evolutions of modern production. workers are freed to concentrate on intricate and value-added activities. The integration of robotics not only enhances precision, but also accelerates production speed, showcasing the transformative power of technological innovation. However, before more material solutions can be brought in, the correct principles must be in place first. Through setting up systematic organisation, and eliminating overproduction or overprocessing of products, workflow is sped up, lead times reduced, and overall operational efficiency improved before you splash out on expensive equipment. Quality control remains paramount in manufacturing, assurance synonymous with operational efficiency and building a trustworthy name. But human eyes for detail and judgement are still essential, 28 Á© stock.adobe.com/Quality Stock Arts www.eastmidlandsbusinesslink.co.uk East Midlands Business Link PRODUCTIVITY & EFFICIENCY IN MANUFACTURING SPOTLIGHT East Midlands Business Link www.eastmidlandsbusinesslink.co.uk PRODUCTIVITY & EFFICIENCY IN MANUFACTURING SPOTLIGHT and tech cannot simply be launched into disorganised processes and fix every issue. Work should always be done to ensure operations are as streamlined as possible through human cognition and creative efforts. Efficient manufacturing hinges on a well-orchestrated supply chain which maintains a steady flow of raw materials and minimised downtime. But simultaneously investing in employee training and engagement yields significant gains in productivity. Engaged employees are more likely to propose process improvements, fostering continuous enhancement where the human element becomes a driving force in efficiency. Even better, well-trained operators gain back their education costs by adeptly handling the complex machinery you can then confidently invest in, by contributing to higher production yields. From here the layers of improvement insight are almost endless in the era of Industry 4.0, where data analytics play a pivotal role in decision-making and constructive predictions. Machine downtime and maintenance present substantial challenges that manufacturers are addressing through the adoption of ‘predictive maintenance’ systems. Sensors on machinery can collect a stream of data, analysing when equipment is likely to fail. This allows for proactive maintenance, minimising unplanned downtime and increasing overall output. At the same time as enabling proactive maintenance, data can be utilised in other areas such as the consumer field, to analyse and feed back the landscape of future trends. Unforeseen challenges are inevitable in manufacturing—yet another reason to keep an outlook of openness to change in the interest of reliably efficient procedure. Consider a pharmaceutical company implementing contingency plans. By diversifying suppliers and maintaining strategic stockpiles of critical materials, they mitigate the impact of supply chain disruptions, ensuring consistent production output. Regulatory compliance changes are one of the most significant challenges for manufacturers, covering areas from basic procedure, safety and hygiene to details like transparency, information and labelling requirements. Proactively monitoring regulatory updates through dedicated compliance management systems ensures timely adjustments to production processes. Navigating government regulations is crucial for manufacturing operations to perform at their best and most responsible, exemplified by an automotive manufacturer ensuring compliance with emissions standards and safety regulations. This proactive approach avoids costly penalties and maintains a smooth production process, where regulatory adherence becomes integral to operational stability and efficiency. Compliance inevitably has a knock- on effect in providing quality items, with easy-to-overlook areas like inefficient order fulfilment directed by management and organisational quotas. In an e-commerce fulfilment centre, the implementation of automated guided vehicles enhances picking accuracy and speed, reducing order completion times. But yet another challenge in this area is inventory management, with excessive or inadequate stock levels both potentially slowing and interrupting supply to your waiting customers. Thankfully the solution here can be as simple as a just-in-time system, to receiving materials and optimise storage space for easy access and movement. Lack of collaboration in product development is another challenge addressed by efficient manufacturing practices. In a consumer goods manufacturing company, the www.eastmidlandsbusinesslink.co.uk East Midlands Business Link PRODUCTIVITY & EFFICIENCY IN MANUFACTURING SPOTLIGHT implementation of Product Lifecycle Management (PLM) software fosters collaboration among design, engineering, and production teams. This streamlined communication accelerates the product development cycle. Good collaboration also means skill sharing and educating one another, which makes training a must for keeping employees equipped with the latest knowledge. Cooperation for productivity extends even further still, as might be seen in a pharmaceutical manufacturer partnering with research institutions. By sharing resources and knowledge, they accelerate innovation together, leading to the development of new, efficient manufacturing processes. This collaborative spirit becomes a catalyst for advancements by both parties. Benchmarking against industry standards and adopting best practices is a proven strategy, built on discovering from the leaders and innovators around you. Consistently learning, implementing proven methodologies and being willing to adopt new techniques results not only in better systems, but better quality of products and service. Nurturing continuous improvement is unmatched as a direct route to growing and easing heavy task loads; even more so when all employees are encouraged to suggest process enhancements. Regular feedback loops and improvement initiatives create a workplace where efficiency isn’t just a one-time goal, but an ongoing pursuit ingrained in the company’s ethos, demonstrating the role of a co- operative culture in sustaining efficiency gains. The path to productivity is as diverse as the manufacturing landscape itself. It requires a comprehensive and adaptive approach, tailored and readjusted to the unique challenges of the industry, to unlock the full potential of your manufacturing operations now and in the future. © stock.adobe.com/NatalyaNext >