Industry growth is always good news, which is why recent figures released by the British Institute of Facilities Management (BIFM) has City Group excited for the year ahead. The medium to long term outlook is promising, and has FM companies including City Group anticipating a steady year of growth. This has been placed down to positive business environments and greater business investment, which in turn is set to generate plenty of jobs across the UK.
The UK FM industry is a major player in the UK economy and job sector, which is why performance so closely monitored by analysts from a range of backgrounds. Research by BIFM has revealed 70% of FM professionals describe the current environment as ‘Positive or Very Positive’. Over half those surveyed predicted further improvements in the FM sector over the coming year. Why is confidence so important to the FM industry? Confidence gives way to success, which the foundation on which our economic system rests.
Market confidence is a major driver when it comes to generation of jobs. If companies anticipate growth, generally they’ll need more hands on board to accommodate the higher work load. Reports by BIFM showed an overwhelming 87% of FM businesses plan to increase their workforce. With the FM industry employing approximately 10% of the UK workforce, this is good news for everyone. We here at City Group can certainly relate to these figures. With steady growth over the past year and more contracts in the pipeline, we’ll be looking to create more local jobs across in all areas of our operations.
The combination of predicted growth in business and staff turnover has experts anticipating greater capital investment. Studies by Barclays bank in February 2015 indicate 54% of senior FM advisors intend to increase their investments, with most focusing on training and recruitment. City Group will be investing in our employees over the coming months as we continue to add new staff to the team, to support our growing portfolio.
The overall outlook for the FM industry and in turn City Group makes for an exciting future. Thanks to the increased confidence within the industry, the UK economy and job sector is set to receive a healthy boost.