In 2017, the global facility management industry hit a valuation of $30.1 billion per year. By 2026, that number is projected to triple to $91 billion. For such a large industry, its interesting that most people aren’t even exactly sure what it is. Facilities management is an umbrella term that refers to a wide variety of support services essential in ensuring a business runs as efficiently as possible. This is essential as businesses scale in size as managers, HR directors, and executives find themselves in charge of more staff, buildings, and equipment. So let’s take a look at how facility management services play an integral role in the modern business.
Examples of Facility Management
Facility management is all about creating cost-effective working processes. The idea is ensuring that all of a business’ resources are properly integrated and utilized. This covers everything from using smart IT systems to control HVAC systems and lights, to ensuring physical spaces are tidy and clean. This expands even further out to cover areas such as installing new fixtures and furniture, painting offices, and so much more.
Why is this Important?
In business, efficiency determines what separates the best from the amateurs. When coordinating large groups of people, it’s essential that your facility and its assets are properly managed. Facility Management service companies can make sure your company is compliant with all regulations and properly maintained. In addition, as companies invest in equipment and technology, it’s important this is all well maintained to promote the products lifespans.
Focusing People on the Right Tasks
Surprisingly, even medium-to-large-sized businesses often have people distracted from their main job requirements doing something out of their mandate. Time is money. You shouldn’t have to worry about changing a lightbulb, making sure people show up on time, or even something as simple as having enough coffee in the breakroom.
Facility management continues to grow because it helps focus people on their jobs, while the menial tasks are synced up through a combination of professional support and the latest software technology.
Different Needs for Different Industries
Most importantly, facility management isn’t about a one size fits all approach. It recognizes that each sector and business has its own unique needs and challenges. For example, tech start-ups need a heavier focus on system management and integration, whereas a business consulting firm may employ facility management that operates on a more flexible schedule that matches the firm’s clients.
For this reason, you’ll want to first make an assessment with a professional to see what areas you can really benefit in to have a tailored, unique strategy for your company.
What Steps Should My Business Take?
Every business is different. However, even the smallest company can benefit from facility services. The key idea behind facility management is taking away distracting things like building maintenance, cleaning, and more so you can focus on the core components of your business. Contact the Shine Facility Service team today to see how we can help you. We can assess your needs and implement the best facility management strategy so your business can truly thrive.