IWFM’s 2024 Market Outlook Report Reveals Progress Alongside Inertia

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• IWFM’s 2024 Market Outlook Report Reveals Progress Alongside Inertia

30 May 2024

IWFM has published its insights from the latest facilities management market report, suggesting a mixed landscape of increased space management and budgetary standstills. 

The report is based on a survey conducted between February and March 2024 amongst workplace and facilities managers, with a total of 4881 responses.

Let’s take a look at the headline findings:

Organisations Have Increased the Area of Space Managed 

For the first time, the IWFM Market Outlook Survey asked about changes in area of space management. 8 per cent of all organisations indicated an increase in workspace investment (against 20 per cent indicating a decrease) and 35 per cent also pointed to an increase in area of space managed (against 22 per cent reporting the opposite).

Inertia in FM budgets

Despite facilities and workplace managers commanding significant spending power (8 per cent of respondents have £100 million+ annual budgets), the percentage of organisations that increased budgets ticked up by just one percentage point in the last year from 39 per cent to 40 per cent, while 33 per cent of respondents reported a drop.

Investments in Carbon Reduction Increasing

The sector is investing in key areas to drive productivity and sustainability, notably carbon reduction, technology and skills. 60 per cent of organisations indicated that they had increased investment in carbon reduction solutions in the last 12 months.  

IWFM CEO Linda Hausmanis said: “Budget inertia is clearly a concern, but I am more concerned about the opportunity that organisations are missing in failing to realise the value that workplace and facilities managers bring and the significant benefits they can unlock. We need to push even harder with that message.

“On the impact of mandated office returns, also highlighted in the report, Hausmanis added: ‘What is clear is that FM organisations can’t rely solely on increased numbers returning to offices for future growth but have to adapt strategies to include innovative support for those working on a hybrid and homeworking basis, especially if they are to retain top talent.”

Picture: a photograph of Linda Hausmanis. Image Credit: IWFM

Article written by Ella Tansley | Published 30 May 2024

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