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Facilities management growth to soar, says specialist

As the facilities management sector is reportedly set to double in size, companies are being advised to reduce costs to make the most of this growth in the next 7 years.

The facilities management in North America is predicted to grow from $606.4 billion to $1,887 billion by 2024, but the key to survival in such a rapidly building sector is to remain available and be sure it’s possible to offer clients lower costs, according to specialists.

“Businesses desire premium services from experts, but at low prices,” warned David Lynes, director of UniqueIQ, “but at low prices in order to keep in line with budget. Failing to meet this price expectation could result in lost custom.”

Responsible for managing a variety of workforces, regularly sourced from external companies, facilities management costs can too easily spiral out of control, according to Mr Lynes.

With industry growth also comes increased competition and it’s important to to remain appropriately competitive if companies want to continue securing future contracts.

“Keeping overheads low by streamlining the management of each outsourced service that is provided, and gaining clear insight into the movements of staff can help facilities management,” said Mr Lynes, “making it possible to offer the rates that organisations are looking for.”