FM market optimism down, economic dangers up; gain insights and advice in our latest report

News

IWFM’s latest research into the performance of the workplace and facilities management sector has revealed a dampened outlook for 2023, with higher costs, squeezed cash flows, and a stuttering economy among the challenges causing more than double the proportion of FMs to expect worsening market conditions compared to 2022 (15% in 2022, 31% in 2023).

Although many respondents (41%) believed the market will either improve or improve significantly in 2023, this is notably more pessimistic than the results of last year’s research, where most (59%) expected an improvement.

The IWFM Market Outlook Survey, which the Institute issues every year, puts the key questions direct to the professionals, providing members with vital insights into the sector’s performance over the past year, its expectations for the coming year, the biggest challenges it’s facing, and, new for 2023, IWFM thinking on how best to navigate them.

To access the full findings and discover our recommendations, download the IWFM Market Outlook 2023 survey report below. The report is free for IWFM members. Not a member yet? Enquire today on +44 (0) 1279 712 650 or email: [email protected]

There is also more positive news inside the report. 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%), and financial investment to mitigate climate change impacts (41%).

Sofie Hooper, Head of Policy at IWFM, believes the future is bright for the sector, despite its challenges:

‘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.’

In other findings, EDI (equity, diversity and inclusion) continues to grow in importance. Almost seven in ten respondents (69%) indicated they had seen an increased demand for EDI measures within their organisation, while just over half (51%) 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. Find out more by downloading the full report.

Join out webinar at 12pm, Wednesday 3 May

You can hear more from Sofie and others in the IWFM team tomorrow lunchtime when they discuss the IWFM Market Outlook 2023 survey report findings and share ideas for navigating the sector’s key challenges. Register now by clicking here.