Standard Success

However, to be successful, companies within the same brand located in other countries must align their strategies. The parent company usually entrusts local decisions to its locations within the market. Therefore, benchmarking is a necessary evil within operation management as it forms good strategic vision.

Global benchmarking compares the performance of a company with competitor companies at global level, and it is necessary to develop standardization across a company’s business model. Internal and external benchmarking is necessary while analyzing staffs performance as a team and individuals at each location. External benchmarking measures competitor company's performances at all levels.For smaller companies, knowing best practices that influence growth can help expand reputation and operations to grow into a multinational national company (MNC).Thus, peer benchmarking leads to guide to collect exact data for comparison.

In general, the benchmarking operation management must have the following principles:

• Seminal features of the company,

• Research & planning,

• Data collection,

• Scrutiny,

• Development, and

• Assimilation/incorporation

The benchmark analyzing team must concentrate their research at the competitor companies at the grass root level, because the company’s success depends on actual strategy execution. Benchmarking also helps to the property or facility manager give special attention to his or her clients and tenants. Their success is often tied to vacancy rates, payment and the satisfaction of tenants. Therefore, it is important for the FM to implement tracking, coordination, and computing services to enhance services for occupants and tenants. Customer-oriented FM includes detailed service such as maintenance schedules and service activities with performance targets for tenant satisfaction.

FMs must also analyze competitor’s strengths and weaknesses to retain tenants and best practices. This also helps measure completion of service calls and planned preventive maintenance projects within a stipulated time. It also aids for precise data collection, generating reports through implementing key performance indicators (KPI) for client satisfaction. Regular feedback assessment by sharing files through mobile tools, maintains cordial relationships with tenants. Their feedback helps FMs measure their KPIs as well.

Interactions with the tenants either in-person or their representative also grows customer satisfaction. This relationship develops a stronger understanding of occupant expectations and provide satisfactory solutions.

Proper data management can minimize occupant expenses and build a more accurate budget by extending equipment life.

FMs understand the costs for their facility — which spans routine maintenance and equipment to expensive, emergency projects. The fixed costs can be tabulated properly, but there are many hurdles for planning unanticipated costs, hence the FM must use historical data. It helps if the FM can break down spending into annual, quarterly and monthly costs as, it identifies costs that go unnoticed.

Having an accurate view of day-to-day operations through proper data management can help build a comprehensive budget. Still, FMs must budget with safeguards in place for miscellaneous and unforeseen expenses. When budget, operations and data management are in sync, the FM team is ready for anything and occupants tend to be satisfied.

Using maintenance management software can help reach those goals and allows them to correct their course. FMs have instant access to real-time status. Staying on track helps make for successful days and winning years.

Having a help desk for tenants can immediately inform the FM team of any problem when it is identified. It also builds a chain-of command from the right person to address the issue to the higher-level staff needed to address a complicated, insoluble concern. This helps the FM team find the reason behind issues and take immediate action, all while tracking daily goals.

Usually, the software’s dashboard at software shows an overview of the problem (whether it was a small task or a sudden emergency), who addressed it and its result.

The FM establishes a proper course of action in advance to handle emergencies and the best possible team member who can respond. They also envision all possible scenarios in the event of an emergency. ;The more prepared an FM team is, the better they can respond. Some of this preparation can be outsourced to loosen time and resources so that the FM team can address daily issues.

FMs must plan for execution of day-to-day tasks with their onsite team. Having benchmarks leads to accurate project and budget planning, cost-effective maintenance and customer satisfaction.