by Brianna Crandall — May 17, 2017 — The value of the facilities management (FM) sector to the U.K. economy has been highlighted in a special report released to coincide with World FM Day today, May 17, 2017.
An analysis of the FM industry, conducted by the British Institute of Facilities Management’s (BIFM) official magazine FM World, suggests that the contribution could be up to eight percent of the U.K.’s gross domestic product (GDP), in a market worth around $1.1 trillion globally.
The U.K.’s FM sector is widely accepted by academics as being the most mature and competitive in Europe, with most estimates putting its value in 2017 as high as £120 billion (estimated to reach £139 billion by 2021) after many years of steady growth. This has largely been attributed to the sector embracing shifts in contracting towards total FM deals that are seeing FM providers becoming ever more embedded in the operations of their clients.
Linda Hausmanis, BIFM’s acting chief executive, stated, “Those working within facilities management are keenly aware of the value they bring, however the issue of valuing the FM market overall is a challenge, not least because the exact mix of operations within the FM function changes between organizations depending on their business needs and culture. However, what isn’t in dispute is the contribution FM professionals make to the total workforce.
“Over recent years, we have seen FM extend its remit and take a more proactive role across a broader spectrum of activities, and this has been reflected in the FM Professional Standards developed by employers and other key stakeholders together with BIFM and which have been reviewed to include new work streams twice in the three years since their inception.
“As the professional body for facilities management, BIFM strongly advocates the ongoing professional development of FM practitioners at all stages of their career, and has been instrumental in creating clearly defined career development pathways underpinned by the FM Professional Standards to meet the increasing industry demand for appropriately trained and skilled FM workforces.
“The FM sector employs a large proportion of the U.K. working population (estimated by some to be as high as 10%) and therefore has an important role to play on issues such as social value. The National Living Wage and the Industrial Strategy currently in development will all impact on the future growth of the FM industry.
“As an Institute, we must ensure the frameworks are in place to enable the FM sector to embrace the challenges and opportunities the future will bring, ensuring the value that it contributes to the U.K. and global economies is not underestimated and the profession receives the recognition it deserves.
“More awareness of performance benchmarks such as the recently published FM ISO Standards will only serve to increase the profile of our growing and dynamic industry.”
The figures were released in conjunction with World FM Day, the international awareness day spearheaded by Global FM to celebrate the vital contribution facilities management makes to business worldwide. This year’s theme is “Enabling Positive Experiences” to highlight the ways in which FM impacts on positive customer, client and employee experience in all sectors.
The full “Value of FM” report can be found within the Facilitate section of the May edition of FM World. As part of its World FM Day celebrations, BIFM is inviting both members and non-members to download the report at no cost upon a brief registration on the BIFM Web site.
