News

Poor Facilities Management costs UK businesses nearly £1 Billion

If you don't currently have a facilities management strategy in your organisation, you may be surprised at the amount of money you could be wasting. According to a recent article on The London Economic website, lack of proper facilities management could be costing British businesses almost £1 billion.

In a recent study conducted by the Royal Institution of Chartered Surveyors (RICS), it was found that 26% of UK organisations are failing to take a strategic approach to their facilities management - which means they are missing out on average savings of £120,000.

Facilities Management involves the co-ordination of a company's space, people, property and resources. A 'Strategic FM' (SFM) should see facilities management being aligned with other areas of an organisation - and this is where the real value lies, RICS stresses. In fact, over half (59%) of respondents who use SFM stated they saw an increase in overall productivity as a result; whilst 49% said it made their organisation more appealing to customers and 21% that it reduced employee absence.

According to Johnny Dulford, global commercial property director at RICS, the research clearly shows that acknowledging FM as a strategic discipline, has the ability "to bring about tangible business benefits for organisations of all shapes, sizes and sector."

"With nearly £1 billion being wasted by those organisations without SFM in place, our research clearly demonstrates that more needs to be done to get leaders in the private and public sectors on board with the new approach," he added.

RICS has established a set of resources and services to support professionals looking to develop their SFM, Dulford further explained. This will include an SFM Guidance booklet and accompanying Case Studies booklet, as well as recognised Chartered Facilities Management Surveyor (MRICS) and Associate (AssocRICS) qualifications.

For more information about the Facilities Management services that Saracen can offer, please take a look at our facilities section on our website and perhaps download one of our One Minute Guides.


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