The FM community needs to Stop and think! Yes Covid-19 is shocking, frightening and causes immense concern for our FM community; it houses many worrying unknowns, but now we need to get our “head out of the sand” and prepare for the future!
We in FM have an awesome responsibility to act decisively, speedily and aggressively; and perhaps contrary to any philosophy we have historically held dear to ensure the wellbeing of the business we serve. Cash is king!
We are all going through:
- Covid-19 hit so quickly and so hard that FM has “reacted” to the latest change or demand. A roller coaster of almost daily change driven by regulation or business need. This is the REACT phase. FM is still predominantly in this phase.
- But what comes next is more devastating. This is the STOP phase. We must stop spending money and reduce the FM spend down to the lowest possible figure. We must seize every opportunity to slash spending; and we should be under no illusions this will require ruthless determination. Remember the importance of cash to any business right now. Cash enables the business to survive and recover.
- The RECOVER phase will be the “controlled resumption of FM service delivery” through Q3 and 4 2020 and probably throughout 2021 in a manner that minimises the FM cost to the business. The trading landscape is going to be very different for all businesses so yesterday’s business as usual will not be that of tomorrows.
Alongside strong and clear management and leadership, the REACT, STOP and RECOVER thinking should be at the forefront of our minds; and we in the FM community need to get out of the REACT phase now and get on with the STOP phase. RECOVER will come later.
Covid-19 is a brutal disease and hugely devastating to business; what was yesterday’s business landscape will not be that of tomorrow.
Email us on: [email protected] for a frank discussion.