Focusing On The Bottom Line During COVID

Facility managers must handle the financial challenges created by COVID-19

During the COVID-19 pandemic, maintenance and engineering managers face a host of challenges related to improving HVAC system efficiency and ensuring proper sanitation, all in an effort to protect the health of their departments’ technicians, as well as building occupants returning to work, according to an article from Facilities Maintenance Decisions on the FacilitiesNet website.

As of early August, 424 companies have gone bankrupt, surpassing the number of filings during any period since 2010.  And many organizations are confronting unprecedented issues related to their bottom lines due to the impact of the COVID-19 pandemic. Companies across all sectors face a severe cash crunch with respect to running their daily operations due to the pandemic.

Reacting to the drop in revenues, many organizations out of necessity began trying to reduce overall costs. They looked at expenses to determine where reductions could be made without impacting the business too much.

The  most important recommendation for managers looking to find greater efficiency and avoid coronavirus-driven budget and staff cuts is to look internally for opportunities for improvement.

Read the full FacilitiesNet article.

October 13, 2020

Topic Area: Maintenance and Operations

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