In the light of the COVID19 pandemic PWC surveyed 305 US based CFO’s to get their view of their post coronavirus plans.
Top of the agenda is clear. Protecting people.
Over three quarters of CFO’s cited that changes needed to be made to protect employee safety, 66% to re-configure the workplace to promote social distancing and over half mentioned changes to working times and shift patterns to reduce exposure.
It’s apparent that, within just a few weeks, there has been a fundamental shift of view at the very top of corporate America. It is likely that this re-imagining of the workplace will be global and sustained in nature.
It brings into question – who is responsible for implementing these changes within the workplace? In most medium to large enterprises, it is Facility Management who now need to step up to the plate and deliver the workplace of the future.
The new FM environment
Facility Management, has for many years, been focussed on the operations of the building and its assets. FM’s make the built environment work for its occupants. They make sure that contractors and service engineers maintain the infrastructure, the grounds, the heating and cooling systems, the lighting, cleaning, security and all of the other critical functions needed to enable the employees to function effectively and comply with legislation and standards.
Now they have an extended remit. Keep the employees safe, healthy and productive. This means, FMs need to re-think their roles.
Board Mandate to Change
As a result of the PWC survey findings, FM’s now have a direct mandate from the Board to make significant changes to the workplace, invest in new technologies and re-invent policies and procedures in order to create the workplace of the future.
Another critical point of the PWC survey is that 70% of the CFOs are planning to delay or cancel planned investments and one third are expecting to lay off stay as part of cost-cutting measures.
These cost pressures will inevitably need to be reflected by the FM in their plans going forward. FM’s need to be creative – they need to move fast and solve major challenges with limited budgets.
Opportunities to reinvent FM
If successful, the management of facilities will become a much more strategic and higher valued function – sitting within the C Suite, alongside procurement and marketing. Perhaps the title of ‘Facility Manager’ is no longer fit for this new purpose. It downplays the value of the role to simply keeping an eye on the building and related assets, whereas in the new environment, the business leaders are demanding a much more valuable strategic role – keeping employees safe, healthy and productivity whether working from home, in the office or on the road. As a result, FM’s should engage with CFOs and other C Suite executives to map out this new future.
Smart FM’s are implementing low cost and easy to use FM technology platforms, such as Keystone, to enforce asset maintenance regimes and report on compliance. They are implementing space and occupancy management tools such as IoT sensors and using advanced data analytics to make better decisions faster. The new workplace will rely on effective monitoring of temperature, air quality and many other people-oriented factors to drive the changes demanded by the Board.
How tech can help
This is where Keystone can help. Built by FM’s, Keystone is a low cost, easy to use platform to streamlines asset management, maintenance tasks and offers workplace monitoring. With advanced reporting delivering actionable insights, FM’s can demonstrate the value they deliver to their Board.
And as a result, be a critical driver in achieving the CFO’s stated objectives.
To find out how Keystone can help you transform your workplace to meet your Board’s demands, book a free 30 minute call here: https://keystone-wx.com/demo/
Take a look at the PWC Survey results:
https://www.pwc.com/us/en/library/covid-19/pwc-covid-19-cfo-pulse-survey.html
Recent Comments