Facilities Managers have a tremendous opportunity in today’s era to leverage actionable maintenance data and make informed decisions – in real-time. The use of this data holds great value in addressing environmental, social, and governance (ESG) considerations. This is the foundation of ESG management, and it allows Facilities Managers to continuously focus on how existing operations and maintenance relate to ESG risk management.
Challenges of Poor Visibility in Facilities Management
Poor visibility in facilities management is nothing new. Facilities Managers have always experienced trouble finding and isolating areas of waste. At the same time, the difficulty in connecting waste to actual bills, such as utility bills, can be difficult at best. Thus, it comes as no surprise that the challenges of poor visibility in facilities management, including cost and disruption, leading some to assume ESG management is impossible. However, a well-rounded approach to facilities management will naturally lead to the consideration of ESG management needs.
ESG Management Requires Maintenance Data
Take a moment to think about what really forms the basis of sustainability management—maintenance data. Maintenance data can help Facilities Managers understand the energy use habits of building occupants, how often assets require maintenance, and much more. This is essential to understanding how your organization aligns with environmental, social, and governance goals. Therefore, the facilities team can improve existing operations to boost ESG performance, leveraging both external and internal data, such as that of other states’ businesses, reports CNBC. It becomes a symbiotic relationship that continuously builds on sustainability management and improved maintenance.
Benefits of Applied ESG in Facilities Maintenance
Applying ESG management to maintenance reveals significant opportunities within an organization. Instead of blindly making decisions, Facilities Managers can realize these key benefits:
- Increased Cost Avoidance. Improved maintenance will naturally lead to increased cost avoidance.
- Decreased Resource Waste. Less waste within the facility will avoid costs as well, not to mention ensures assets function appropriately and within their prescribed lifespan.
- Improved Occupant Health. The benefits of considering the social ramifications of maintenance decisions will also increase occupant health by eliminating the hazard, such as improved air quality.
- Extended Asset Life Expectancy. Extended asset life expectancy will lead to reductions in TCO and contribute to fewer costs for the company.
- Data-Driven Decision Making. Using ESG data, managers can make informed decisions for the maintenance schedule and beyond.
- Fewer Disruptions to Guest Experiences. Fewer disruptions will increase customer satisfaction rates.
- Improved Eligibility for Sustainability Incentives. Depending on the area, increased sustainability may open the door to incentive programs that pay for the costs of such improvements.
- Decreased Carbon Footprint. A decreased carbon footprint will contribute to a growing global consensus that sustainability benefits everyone in both short-term and long-term outlooks.
- Better, Faster Completion of Maintenance Needs. Faster completion of maintenance needs will naturally increase the responsiveness of your team.
- Transparency Boosts Consumer Loyalty and Confidence. Improvements and ESG considerations in all decisions will increase brand value by bolstered customer confidence and loyalty.
Make Conscious Maintenance Decisions With ESG Management
The right maintenance schedule leverages predictive, preventive maintenance, reducing the costs of reactive maintenance, and risk of disruption. To implement a preventative maintenance program, Facilities Managers should track data, and the maintenance schedule will benefit from established ESG principles. Learn more about how your organization can improve maintenance efficiency and cost avoidance through effective ESG management by visiting ENTOUCH online today.