Setting Your Facility Up for Success in 2024: Goals, Strategies, and New Technologies to Watch

Facility management is set to evolve in 2024, with technology playing a key role. The focus will be on understanding and integrating complex systems, complying with new regulations, and leveraging technology to enhance efficiency and sustainability. As we approach the new year, facility managers (FMs) must understand and implement cutting-edge strategies and technologies to stay competitive. Let’s explore the advancements defining the industry and how you can leverage them to set your facility up for success.

Facility Management Trends to Watch in 2024

As we look towards 2024, several significant trends are expected to shape the facilities management landscape:

  • Complex Building Systems: The rise of new technologies means that buildings are becoming more complex, integrating advanced electrical, HVAC, safety, and engineering systems. FMs will need a strong understanding of building information systems to monitor, report, and optimize these sophisticated systems effectively.
  • Increasing Building Regulations: With the introduction of stringent regulations, like California’s A.B.2446 mandating lifecycle assessments, FMs are under pressure to comply with evolving environmental and sustainability standards.
  • Fast Adoption of Software and IoT: Automation is accelerating with the use of AI in surveillance and field service management software for scheduling and dispatch. This technology enhances security and service delivery, allowing FMs to handle tasks more efficiently with less labor.
  • ESG Reporting and Sustainability: ESG reporting is becoming a focal point in facilities management due to increased environmental regulations. FMs are leveraging software to track and report on sustainability performance, ensuring buildings meet the required standards.
  • Preventive and Predictive Maintenance: Advanced monitoring tools and analytics are empowering FMs to adopt preventive and predictive maintenance strategies. This approach prevents issues before they occur, minimizing downtime and reducing the costs of unexpected repairs.


Strategies for Success: Planning for Progress

In response to these trends, FMs must develop strategies that align with the direction the industry is moving. Here are key strategic goals to consider:

  • Embrace Sustainability: Going green is no longer just a buzzword; it’s a competitive edge. FMs will need to look at implementing sustainable practices, from reducing water waste to sourcing renewable energy, to not only cut costs but also to appeal to a market that increasingly values environmental stewardship.
  • Invest in the Right Tech: Technology will continue to evolve, but not every new gadget will be a good fit for your facility. The key is to invest in technology that aligns with your specific operational needs and can adapt to future changes, providing a return on investment.
  • Focus on Workforce Development: Technology is only as good as those who use it. Focus on developing your workforce and invest in your teams’ skills with training for new technologies and systems. This includes ongoing education and hands-on training opportunities.


Facility Management Technologies to Watch in 2024

Technology is at the heart of the transformation we’re seeing in facility management. Let’s take a closer look at some of the specific technologies set to make an impact in 2024.

  • Software and IoT: Technologies like AI for security and field management software for task scheduling are becoming commonplace, streamlining operations and enhancing building management.
  • ESG Reporting Tools: Software for tracking sustainability metrics is vital for transparent and compliant facility management.


Maintaining Momentum: Staying Ahead of the Curve

The facility management industry is evolving quickly. Staying informed is not just beneficial; it’s essential for maintaining a competitive edge. Here are some tips to help prepare and stay ahead of the curve in 2024:

  • Stay Informed: Subscribing to industry journals, attending webinars, and networking with peers can keep you updated on the latest developments in a fast-moving field.
  • Choose Scalable Solutions: When investing in new technologies, consider their scalability. Can they handle increased demand as your facility grows? Will they integrate with future technology updates? These considerations will help ensure your investments are sound.
  • Prioritize Preventive Maintenance: Implement maintenance strategies that anticipate needs, ensuring efficiency and reducing unexpected costs.


Preparing for a New Era of Facility Management

Facility management in 2024 is all about smarter, more efficient, and greener operations. By understanding and acting on these trends, strategies, and technologies, you can position your facility for success in the upcoming year and beyond.

Ready to bring your facility management into the future? 

Contact us to learn how our expertise can help you navigate the trends and adopt the technologies that will set your operations up for success in 2024 and beyond.