2023 FM Market Outlook Survey Shows Market Optimism is Down

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03 May 2023

IWFM’s latest Market Outlook Survey shows that the proportion of FMs that expect worsening market conditions has doubled from 15 per cent in 2022 to 31 per cent in 2023.

41 per cent believed the market will either improve or improve significantly in 2023, compared to 2022’s stats where 59 per cent expected an improvement.

Among the factors identified as having either a positive or significantly positive impact on the sector are changes in building safety legislation (58%), opportunities to support climate change measures (55 per cent), and financial investment to mitigate climate change impacts (41 per cent).

Importance of EDI to FM Continues to Grow

The report also showed that equity, diversity and inclusion continues to grow in importance for FMs. Almost seven in ten respondents (69 per cent) indicated they had seen an increased demand for EDI measures within their organisation, while just over half (51 per cent) believe this is true for the market as a whole. However, barriers to progress were also highlighted which, if addressed, could help the profession in managing a separate key challenge in the sector.

Sofie Hooper, Head of Policy at IWFM, commented: “Evidently, challenges old and new weigh heavily on the minds of FMs, and it is little wonder under the current conditions. However, these findings also underline a variety of opportunities for the sector to grow and make a real difference, such as building safety, technology, and the sustainability agenda. Importantly, this report also provides a range of useful ideas to support our members in mitigating the worst impacts of the challenges. Plan effectively, embrace change intelligently, and the rewards will follow.”

For the full findings, IWFM members can download the IWFM Market Outlook 2023 survey report here.

Picture: a photograph of a person sitting at a desk. The image is taken from behind and the desk faces a floor-to-ceiling window and the sun is shining through. Image Credit: Unsplash

Article written by Ella Tansley | Published 03 May 2023

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