To kick off the new year, the International Facility Management Association (IFMA) hosted a webinar on January 18 called “Elevate FM in 2024: Reflecting Back and Looking Ahead,” during which the top 2023 key performance indicators (KPIs), the most often asked KPIs, and expected challenges for 2024 were discussed.
Top KPIs in 2023
Based on a survey of IFMA’s social media followers, IFMA Senior Account Manager Gayle Head noted some of the top KPIs in 2023 included:
- Customer satisfaction
- Cost savings/financial performance
- Critical systems availability/uptime
- Work order completion time/mean time to repair (MTTR)
- Vendor performance/contract management
“I found it really interesting that one of the top ones is customer satisfaction,” IFMA Executive Director of Business Development Kim (Coffey) Jackson explained, adding that customers include everyone who uses a facility.
She added that facilities professionals need to not only watch out for the health and safety of all customers and ensure construction projects don’t block traffic flows but also deal with customer complaints about indoor temperature.
Most Popular KPI Questions
Head said that several IFMA-qualified instructors were polled on which KPI questions were asked the most and provided written answers for the webinar.
How Can We Measure Company Performance KPIs When It Comes to Preventive Maintenance and Productivity?
“The impact of preventative maintenance on the company performance can be quantified by measuring whether we are in target with our benchmarks outlines in the balanced score card (BSC),” IFMA Instructor Giselle Holder, CFM, FMP, SFP, wrote.
Providing further clarification, Head explained that the BSC allows employees’ specific tasks to be quantified so they can be measured and improved upon.
“For example, if we stated we wanted to achieve a 90% decrease in customer complaints, using the BSC method, we would identify implementable strategies under the four perspectives of customer, continuous improvement, internal processes, and finance that would help us achieve this KPI,” Holder continued.
Are Risk/Reward KPIs a Thing of the Past?
“No. It is even more relevant to ensure the safety, security, health and wellbeing of both occupants and customers,” IFMA Instructor Aykean (Forde) Matthews, MBA, CFM, FMP, IFMA global board member, wrote.
“Risks associated with the natural environment, cyber security, climate change, workplace violence, etc. have severe impact on lives; the organization’s reputation and financial viability must be identified, measured with appropriate strategies implemented for mitigation against such risks,” Matthews added.
How Do I Improve My FM Skills?
“Joining a professional membership association like IFMA is an excellent start,” wrote IFMA’s commissioner of the IFMA Certificate Commission, Vaughn Halliday, MSc, CFM, SFP, FMP, PMP, ProFM.
Halliday added that facilities managers should consider earning industry-leading certifications and pursue other learning opportunities. For more information on those, check out “12 Facilities Management Certificates to Consider for 2024” on Facilities Management Advisor.
What KPI Is Key Right Now?
“Given that a KPI is an indicator of business success, I think it’s a really hard thing to generalize,” IFMA Instructor and Fellow Geoff Williams, CFM, FMP, SFP, wrote.
“My recommendation is to think about what is key to the success of my business and build one or multiple FM KPIs around that. That way you can demonstrate your/FM’s commitment to the success of the business,” he added.
Companies should consider creating KPIs that would address the challenges they expect in 2024.
IFMA Account Manager Starlyn Berlanga discussed the top challenges organizations are expecting to face in 2024:
- Value of computer maintenance management systems (CMMS) and computer-aided facility management (CCAFM)
- Balancing sustainability and costs
- Skill set and team dynamics
- Stakeholder trust and interference
Regarding the list, Jackson added, “Now we have generative AI, so staying on top of this is definitely going to be a challenge for facilities managers because these are external influences that will be shaping the future of your career and your profession.”
To learn more about KPIs and 2024 challenges, hear career advice, and get information on IFMA’s offerings, watch the entire webinar on demand by clicking here.