As a company leader, your primary objective is to add value to business operations continuously. Numerous elements may influence these objectives, including supply chain management, effective company operations, employee productivity, and corporate real estate.
As one of the largest items on your company’s balance sheet, it is crucial that your corporate real estate portfolio is efficiently managed and the facilities management function is high performing.
Read on to learn more about the fundamental functions of facilities management, and its inherent benefits to organizations that manage and maintain multiple facilities.
Facilities management guarantees the operation, comfort, safety, sustainability, and efficacy of a building, property, or asset. It integrates people, place, and process to increase your organization’s efficiency and the quality of the built environment.
Facilities managers ensure that buildings are secure, comfortable, environmentally friendly, and efficient. They ensure that the components of a property function properly, the systems in the built environment operate as planned, structures serve their intended objectives, and employees are provided with surroundings that are healthy and productive.
While facilities managers can be part of a company’s in-house team, core services can also be outsourced to a trusted facilities management provider.
Facilities managers hold a variety of roles and responsibilities, and while tasks may vary from one organization to the next, they typically involve:
The primary objective of facilities management is to keep buildings safe, efficient, and adaptable to the changing needs of employees and customers. When well executed, facilities management provides the following advantages to businesses.
When it comes to commercial real estate, it’s essential to understand the costs, and potential costs, your property faces. An analysis of these costs provides insight into the ROI of business operations overall.
Building upkeep and maintenance account for a significant portion of CRE costs, however the fiscal difference between preventive, routine maintenance and reactive repairs can be astronomical. Effective facility management results in bottom-line savings.
Preventive maintenance decreases the need for expensive emergency repairs. Regular maintenance also increases the longevity of real estate assets, minimizing the need to replace entire systems or renovate entire buildings. Facility management also addresses the facility’s long-term environmental impact, resulting in more cost-effective and sustainable solutions.
Not only does facilities management reduce costly expenses tied to larger building improvements or unexpected downtime, but it also makes budgeting for future needs more predictable and accurate.
Above all, facilities must provide employees with a productive workplace. Giving employees a workplace that makes them feel welcome, accommodated, comfortable, and appreciated leads to higher productivity and bottom-line growth.
It’s no secret that happier employees produce better results. The relationship between facilities management and culture extends far beyond increased productivity. It also includes essential areas of business growth like talent acquisition and retention, better corporate reputation, and even industry reputation.
Your facilities reflect your company’s principles and priorities. Good facilities management is a powerful sign of quality and reflects favorably on your organization.
Facilities management also enforces health and safety policies while decreasing workplace hazards. This includes dealing with on-site crises, monitoring operations, and conducting thorough inspections of facilities to ensure that everything is in working order.
Effective facilities management also ensures:
Facilities management should be a critical component of every real estate strategy. Without it, your organization could face costly downtime, unhappy employees, and an unsafe work environment. Is it worth the risk?
Well-executed facilities management not only reduces operational costs and strategically minimizes large long term capital expenditures, but also improves organizational culture.
How well are your facilities managed today?
Our free facilities management assessment is designed to help you determine the health of your facilities management function, including people, process, technology, and strategy. In 10 minutes, you will receive an email summary of your results, along with resources to help you optimize your facilities management approach.
