The concept of FM has not matured enough to provide complete property management solutions. Increase in investments in IT/ITeS /BPO, finance/banking, telecom, retail/malls, and industrial sectors will continue to witness strong growth in the next 2-3 years and due to the expected influx of major global Multinational Companies (MNC) in India across various end-user verticals. With over 70% of large companies and a growing number of medium and small companies now using psychometric tests in Facilities Management, it can be assumed that there are definite benefits and that they add value to the recruitment process.
- Lack of availability of technical and non-technical manpower is one of the biggest challenges the industry is facing currently. The lack of qualified staff has increased the lead times in mobilizing resources/staff after a project has been successfully contracted.
- The persistent need for more in less for all the ground level workers conjures up to become one of the biggest attrition challenges in the industry. Many customers find it easier to maintain medium- and short-term contracts rather than long-term ones as the latter will lead to price rise.
- The next big factor posing as a deterrent is competition. Since the market is riddled with low-cost unorganized service providers, pricing and margins come under pressure as these unorganized players provide services at low rates, essentially scuttling the competition from large organized players.
The Indian Market vis-à-vis the Global Scenario
The Indian FM services market is in its early growth stage and is evolving rapidly, fuelled mainly by the high pace of growth in the construction sector. Increased awareness levels among different vertical markets are expected to take this market to a mature growth phase in its life cycle. Outsourced services coupled with the investment boom in real estate and construction sectors. The growth of this market is driven by the need for safety, comfort, and healthy environment for the employees as well as the increase in awareness about outsourced services among customers.
The industry posits a diverse pool of challenges for FM Industry which is a paradigm shift from the age-old household chores myth. Attrition, unavailability, irrelevant competition are the broad challenges that continue to curse the FMS industry globally. Resolution is innovation and thinking outside the box. Ever heard of using the employee psychology to gauge his/her intention to continue working? The behavior of an individual indicates a lot about the employees’ (blue or white collared) will to sustain in the said working atmosphere which reflects directly on the metric of attrition. But how do you make that cut of innovation? Let’s recount this through an example. In a practical manner, your blue-collared workforce shifts completely in a matter of months and sometimes less which involves copious amounts of time, effort and loss of efficiency ergo directly affecting your numbers as well as profit. Imagine this dream, if you can increase the retention of your existing workforce by inspiring them to stay through assessments prior to their engagement in their work parallel to providing them with incentives based appraisals, your organization would gain leaps and bounds in terms of net profit and would not lose anything in terms of efficiency or effort.
Let’s take Mettl, for example.Through the use of their industry-differentiating psychometric assessments prior to employment in the blue-collared workforce, Mettl has achieved such feats with ease for industry mastheads like Maruti, Everest, L&T Foods, Alp Michicava and many more. Standing in line and waiting for your turn is easy, but are you ready to take that chance? Taking things into perspective, it is not easy to stand apart from the crowd especially when the competition is unrealistically disorganized. But we are here to help you out. GodSpeed.
Topics: Psychometric Test