Facility management is an enormous industry, expected to grow to $59.3 billion by 2023. This makes it one of the most rapidly growing industries worldwide. Within this industry, there are many emerging trends that both facility managers and business owners should be aware of. From personalized employee experiences and flexible workspaces to integrated property and facilities management, understanding these emerging trends helps business owners keep a pulse on what makes a 21st century business successful. And it helps facility managers understand what companies expect from them. One of the trends that is taking the facility management industry by storm is outsourcing. And it’s no wonder. There are many benefits for companies that choose to outsource!
Benefit #1- Improved quality and greater efficiency
When facility management is outsourced, third-party vendors take on the work. Which means they bring their experience, best practices and the latest technology to the table. As a result vendor expertise provides increased efficiency and oftentimes, higher quality services.
Benefit #2 – Cost savings
Higher quality and more efficient facility management services is a no-brainer. But that must come with a price tag, right? Interestingly enough, the skills, resources and expertise of third-party vendors can equate to a substantially lower price point over in-house facility management. In addition, any on-the-job training and benefits packages are absorbed by your vendor instead of your company.
Benefit #3 – Reduced risk
When professionals are managing your facility, they are highly trained in workplace safety. This means a reduced likelihood for workplace injuries. They also have the skills to maintain a safe building and they continually address small issues before they become more serious issues. This reduces risk to both the tenants and the structure itself.
–Benefit #4 – Increased focus
Companies that outsource their facility management don’t spread themselves as thin. Instead, company management can double down on their areas of expertise that serve to propel the company forward.
Three other important facility management emerging trends that business owners can tackle to do this include:
- creating a personalized employee experience
- forming strategic partnerships
- developing a smart workplace
Creating a personalized employee experience
A personalized employee experience is a growing expectation of employees across nearly every industry. This emerging trend is addressed in several ways. First, it includes offering services and amenities such as employee wellness programs and designated co-working spaces as well as improving the lighting and office aesthetics. Second, employee-centric technology also adds to the personalized employee experience. Examples include customized in-office apps that help employees find each other, reserve conference rooms and place service requests. In fact, according to the CBRE Americans Occupier Survey, 2018, “Fifty-nine percent of corporate executives say they plan to add mobile apps that help employees better navigate the workplace and collaborate with each other.”
Forming strategic partnerships
Gone are the days of viewing suppliers as simply a means to an end. In fact, more and more companies are seeking out vendors they can build relationships with and partner with for the long haul. This means establishing relationships around a shared mission and nurturing those relationships with open and honest communication. These partnerships increase company-vendor trust and translate into more reliability and better response time.
Developing a smart workplace
The Internet of Things (IoT) is a massive and growing network of people and things that are connected to the Internet and communicate with each other. This includes cell phones, smartwatches, household appliances, security systems, machinery and other industrial components. Employers can leverage smart technology to their advantage and incorporate an array of smart technology into their company culture. (And yes, this contributes to a personalized employee experience!) Smart technology can include IoT sensors that make sure fresh coffee is always on the ready, standing desks that remember employees’ preferred settings and tech that keeps track of employees’ locations within the office, making it easier to find coworkers. Smart technology can also help employers determine how much time their employees are using which spaces, increasing efficiency and helping cut costs.
The Role of Facility Manager is Changing
Whether or not a company chooses to outsource its facilities management, it’s certain that the role of the facility manager is changing. Now, more than ever, facility management not only entails keeping the building safe and operational and managing costs but it also involves catering to the employee experience.
If you’d like to learn more about these emerging trends and how we can partner with you and free up your team to focus on other important initiatives, please click the link below to schedule an exploratory meeting.