The Indian Facility Management industry is at a very nascent stage. The earlier concept of facilities in India was very disorganised and involved only providing housekeeping and security job roles in conjunction with the construction industry. But it has evolved a lot in the last couple of decades and the fragmented industry is gradually becoming organised while gaining momentum.
The current scenario of the Indian FM industry :
The FM sector in India is not as developed as compared to its global peers in terms of market maturity and adoption of state of the art technology. But it is experiencing tremendous windfall and therefore displaying immense prospect.
The evolution of the FM industry has seen the profession getting bifurcated in a number of specialised industries by providing amenities to the various organisations. The vast growth in the real estate sector has observed the tremendous proliferation of the facilities sector. Along with it the growth in the manufacturing and services sector is also facilitating the growth in the Indian FM industry. The Indian FM industry is expected to have a combined annual growth rate of around 24%.
Challenges encountered by the Indian FM industry :
Proper maintenance of facilities and monitoring its execution is a tough job and can prove to be extremely complicated. With a continuous barrage of issues and challenges being faced by the FM sector, identifying them and establishing the most efficient and effective ways to combat them and subsequently overcoming them is the most crucial thing.
The biggest challenges faced by the Indian FM sector can be discussed below.
- Controlling the overhead costs: The most important aspect for facility managers in numerous organisations is to control the overhead costs. These can be done by preparing a budget for all types of costs – fixed, variable, direct, indirect etc and selecting the best possible team to execute a project with utmost efficiency as well as inventory tracking, maintenance cost tracking and tracking of financial information.
- Employing in sustainable practices: The recent most corporate trends suggest that companies should employ sustainable practices. Facility Managers are burdened with the task of implementing environment-friendly practices in every organisation like minimisation of waste production, reduction in the usage of energy, conserving water, investing in eco-friendly options like Solar Panel, LED lighting etc.
- Coordinating various teams to function properly : The most important aspect for facility managers to tackle is to boost efficient workplace operations by improving communication, organisation, productivity and innovation. This involves coordinating various elemental teams to successfully and synergistically operate.
- Maintenance of old equipment and facilities : Proper planning is essential on the part of facility managers to develop schedules of preventive and restorative maintenance of aging equipment and facilities that have degraded due to heavy usage and wear and tear. This can extend the life of the existing assets and predict the upcoming expenses.
- Handling failures with utmost expertise : Asset maintenance of any organisation is a complex procedure which involves thorough and seamless information flow and rapid action to situations and incidents. Handling failures properly involves the centralisation of regular operations and monitoring all failure cases using mobile devices and solving all failure reports with extreme precision. This also involves developing a foolproof procedure for the future steps.
- Time management : There is a traditional saying that saving time is saving money. This is especially true for facility managers because their intervention in various core operations of any organisation results in the processes becoming more time-efficient. Thus there is an immense boost in workplace productivity and efficient workforce management results in employee satisfaction and increased loyalty. All of these are exhibited in the financial bottom line of the organisation. The Indian FM industry is behind a lot others in the adoption of technology. Today technological advancements like IoT, smart sensors and artificial intelligence can competently manage various processes with utmost accuracy and in a minimum time span.
All of these processes need to be streamlined so as to combat these challenges which pose as monumental threats to the progress of the FM industry in India.