Why Do Facility Management KPIs Need to Be Reevaluated in the Current Situation?

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By Amit Prasad on November 15, 2022

In the post-pandemic era, facilities management software has become a part of the business. By efficiently managing the workspace while limiting the occupancy, ensuring compliance with social-distancing norms, and encouraging social connection between employees, Facility management technology plays an important role in decreasing the cost of various aspects of the organization.

Though the technology helps save some costs and achieve a balance between workplace safety and efficiency, reevaluating its key performance indicators (KPIs) is crucial to ensure whether they are current and satisfy your ever-evolving business needs.

Amit Malik, Chief People, Operations & Customer Services Officer, Aviva Life Insurance, stated, “Performance metrics will be more tightly linked with the outcome (as opposed to effort) as remote working becomes a norm in the post-COVID-19 world. Leaders and employees have to be flexible and adopt continuous recalibration of goals and measures.”

Why Is There a Need to Reevaluate Facility Management KPIs?

KPIs are extremely important as they help a company compare its current performance with a given value. Before the pandemic, facility managers used to simply collect data on workplace occupancy and focused mostly on aesthetics and employee levels while creating and implementing office space management methods.

Their prime focus was on maximizing occupancy and assigning every employee a dedicated workspace to cut down costs. At times, when any employee was on leave, their spot remained empty and unused. Except for those employees who were sick, on vacation, or business trips, others were asked to be present in the office every day. The number of occupied (and unoccupied) desks was an essential KPI of success back then. However, this KPI won’t work anymore in the post-pandemic, hybrid work environment.

Today, remote working and activity-based working are common in the workplace, and the KPIs should reflect them. Employees are more concerned about their health now, and consequently, facility managers have to focus on the creativity, productivity, and safety of the employees while they allocate their spaces to them.

Facility Management KPIs Vs. Metrics: Which One’s Better?

Although both key performance indicators and metrics sound similar, they serve different purposes. While facility management KPIs take sets of data into account, metrics are often used for a single point of data. In fact, it won’t be wrong to say that metrics are just part of several sets of facility management KPIs. Additionally, KPIs focus on goals that are specific, measurable, realistic, and time-sensitive.

Some examples of metrics include space utilization, space quality, real estate costs and terms, asset costs, and productivity costs among others. This differs from broader KPIs that include cost optimization, space management, energy management, workplace optimization, etc.

Facility Management KPIs to Be Tracked in Every Post-Pandemic (Modern) Workplace

To measure success and productivity, every modern workplace must monitor and track the following key performance indicators.

Major Cost Optimization

Optimizing costs is important to determine how well your space is used and what you can do optimally using your budget rather than wasting resources on unused or inactive workspaces.

A cloud-based office space management software can help you track space utilization in real-time, so you can allocate the available space accordingly. By monitoring the space in real-time and adequately assigning them to the right employees, you can achieve better productivity, increasing the overall revenue of your organization.

On the contrary, if some desks are unused in your office which could have been assigned to employees but weren’t, then that can impact the morale of your employees and adversely affect their motivation to work, resulting in poor productivity and reduced revenue for your company. Hence, a space management tool is important to increase productivity and revenue.

Efficient Energy Management

One of the major goals of every company is energy management. By effectively managing and utilizing energy, you can significantly track and reduce costs on various commodities, including water, solar, compressed air, natural gas, and so on, across your organization. The saved cost can be used to improve other aspects of your organization, helping you serve your employees and customers better. According to a study, Almost half of employees are even prepared to accept lower wages to work for an ecologically and socially responsible company.

A perfect energy management software will help monitor your company’s energy consumption and related expenses, so you can reevaluate your energy needs and determine areas to reduce energy waste, thus saving valuable resources.

Maintaining Property Conditions

Facility management is not just about space management/utilization or cost optimization but also about creating a comfortable and safe workspace. To this end, you must track your business assets, like equipment, fixtures, furniture, etc., and determine whether they are in good condition.

You can use asset management software to track down and manage your business assets and get real-time data on maintenance history, market price, warranty, etc. This way, you can make better and more informed investment decisions. This will also help you schedule preventative maintenance on time, thus maintaining your building and assets in prime condition.

Workplace Optimization

An inviting yet convenient workplace helps attract prospective employees while retaining top talents. Undoubtedly, you must have a welcoming environment for your employees. Most employees would like to return to the office to collaborate with their mates, so you can incorporate hurdle areas and implement booking systems to enhance employees’ workplace experience.

With effective hot desk booking software, your employees can book their seats in advance. It will help them look up their colleagues and book a seat nearby, so they can also socialize while working. With such software, facility managers can get the accurate usage of spaces like conference rooms, phone booths, lounges, etc., and make the most of them.

Maximizing Customer Experience

Similar to employee experience, maintaining exceptional customer service at each touchpoint is essential. By offering round-the-clock unwavering support and assistance, you can effectively improve their experience and satisfaction.

A good help desk management software that can seamlessly integrate with the mobile application will help you provide a seamless customer experience.

With these facility management KPIs, you can revamp your post-pandemic workplace to achieve greater success and productivity.

Benefits of Facility Management KPIs

Facility management KPIs have several benefits including:

  • Analyzing data from multiple sources and providing insightful analytics for workplace management.
  • Creating a balance between the company’s strategy and data.
  • Initiating the conversations for change in the company’s practices.
  • Providing a true and in-depth analyzed scorecard for the company’s operations.

If you want to avail such benefits too, contact a facility management firm today.

How to Track Facility Management KPIs Using QuickFMS Technologies?

To track your KPIs, you would need efficient facility management software. At QuickFMS, we offer customized, cloud-based facilities management software to help you renew and organize your workspace and keep up with the latest market trends. Contact us today or schedule a free demo to learn more about our facilities management modules.

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Content Sources: Solar Builder Magazine, PeopleMatters.in