Is your property portfolio growing faster than your FM strategy?

A blog by Mark Hazelwood, Managing Director IFM & Hard Services

Picture this: for years, you’ve taken meticulous care in building your business from the ground up. You’ve employed the right people, instilled the right culture and secured the right clients. The profits are beginning to match your efforts, and you’ve taken the exciting next step of growing your property portfolio. Business is booming.

But, before you have time to react, something unexpected happens at one of your properties. A compliance check has been missed, you’re facing a hefty fine, and both your employees and clients are concerned.

This is a misalignment between business strategy and FM strategy unfolding before your eyes. It’s what happens when the complexities of effective FM are overlooked amid the excitement and bustle of business growth. Scary? Yes. Common? Absolutely. Manageable? Of course.

What are the risks of a misaligned strategy?

For a fast-growing business without a clear FM strategy, there are numerous risks involved. Non-compliance with FM regulations – which can occur through a lack of dedicated FM personnel, the prioritisation of operational needs or simple oversight – can make the business vulnerable from multiple angles.

The business could be fined and access could be restricted to affected properties. When this happens, routine operations are disrupted, teams become concerned and internal communication could fall apart. A subsequent impact on clients could also follow.

This is without mentioning the potential risk to employee health, safety and wellbeing that can come from poorly maintained workspaces. If they have access to the property, they’re left vulnerable to injury or illness – not exactly a recipe for a happy workforce.

Put simply, the risks of misaligning your FM strategy while going through a growth period could be culturally, reputationally and financially damaging. All that work and success could be for nothing; without a solid FM strategy that aligns with your future business plans, the foundations for growth are weak.

What does a solid and aligned strategy look like?

Whether your business is growing or already mature, the importance of an FM strategy that runs parallel to your operations cannot be understated. It should involve standardised procedures and policies that leave no stone unturned as expansion occurs. A risk-averse and compliance-driven approach should also be taken to avoid unwanted regulatory scrutiny. Finally, it must be employee-orientated, remaining attentive to the health and happiness of those in the workplace.

Ultimately, a solid FM strategy is one that is proactive rather than reactive. It remains one step ahead of growth to the business and its property portfolio. Rather than simply reacting to change, it predicts it.

Consider, for instance, the scenario where you want to increase your workforce. Under an aligned FM strategy, your existing spaces would be optimised while you proactively searched for new properties. On the other hand, a misaligned FM strategy might force you into a last-minute decision to purchase a property at a premium price, even though you know deep-down that it’s unsuitable for your business’ needs. Before you know it, staff productivity has plummeted while employee dissatisfaction has skyrocketed.

Not quite the exciting expansion you hoped for.

Ask yourself an honest question

Take a moment to ask yourself how healthy your current FM strategy is. Does it anticipate operational change? Does it protect you from potential fines and disruptions? Does it offer a foundation for a flourishing workforce?

If not, it’s probably time to reconsider. Businesses that are constantly growing require an approach to FM as flexible and fluid as they are. They require a service that offers short-term contracts and allows necessary adjustments to be made at the drop of a hat.

That’s why we developed FM on Demand. This flexible model can be adjusted to suit the requirements of specific circumstances and locations, and the transparent monthly subscription model and a 24/7 helpdesk provides peace of mind without a long-term commitment. Ultimately, it provides a pragmatic and sensible solution for businesses experiencing evolution.

Time to take action

Let’s return to where we started. Picture this: as your business grew and you built up your property portfolio, you had a solid and aligned FM strategy in place. The regulators ticked all the boxes, your premises stayed operational, and your employees and clients kept smiling. You stayed one step ahead and you weren’t caught out unexpectedly.

Ultimately, by aligning your FM strategy with other areas of the business, you could stay focused on what really matters to you: growing the business further.

Q3’s services could be the key you need to unlock such freedom. If interested in FM on Demand or any of our other solutions, please get in touch today to book an initial assessment.

You can reach out via email at info@www.q3services.co.uk, by phone at 020 3855 4521, or fill out a quote enquiry form and we’ll get back to you.