UK FM sector is the most mature and competitive in Europe
The facilities management (FM) sector’s value to the UK economy has been highlighted in a special report released to coincide with today’s World Facilities Management Day (17 May).
An analysis of the facilities management industry – conducted by the British Institute of Facilities Management’s (BIFM) official magazine ‘FM World’ – suggests that its contribution could be up to 8% of the UK’s GDP (Gross Domestic Product), in a market worth around $1.1 trillion globally.
According to the BIFM, the UK’s facilities management 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.
It says 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.
Acting Chief Executive Linda Hausmanis said: “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 organisations 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 UK 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 UK 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.”