Within the facility management industry, a growing trend of delayed and incomplete projects alongside missed maintenance continues to emerge. This trend is largely attributed to significant resource shortages within the marketplace, driven by intense competition for skilled talent and insufficient skill sets to match job requirements.
The Rising Tide of Operational Risks Due to Resource Constraints
As contractor resources continue to be spread thin, the potential for heightened operational risks rises. These include incomplete work that results in significant regulatory penalties, safety issues, or contract breaches, all of which represent threats to your business’ reputation and bottom line.
According to the quarterly report from Jobs and Skills Australia (JSA) on skills shortages, the overall fill rates are notably low at 62.7%. The occupation group facing the most significant challenge is Technicians and Trades, with a mere 47% fill rate. What is more concerning is out of the 13 applicants per vacancy, on average only one or two people possess the necessary qualifications. This demonstrates the critical issue in matching skills to job requirements. Read more about how these conditions necessitate a comprehensive and accurate solution to ensure service delivery and compliance in challenging times.
Measurement Equals Management: Complete End-to-End Contractor Visibility
In response to these industry challenges, businesses must leverage accurate data and independent systems to enhance control over contractor resource challenges and ensure delivery is managed effectively. Accurate data and systems bridge the gap between expected service levels and actual performance and delivery. By implementing a system offering a comprehensive view of contractor management, businesses can navigate these resource shortages more effectively, ensuring expected service levels match actual performance delivery.
Verified: Turning Industry Challenges into Opportunites
Despite the challenging industry conditions, Verified’s clients are experiencing a positive shift in contractor activity, evidenced by improved work order completion rates and enhanced accuracy. Utilising Verified as a unified source of truth, clients are empowered with an integrated system to manage all contractors and their workflow efficiently. This comprehensive management approach guarantees not only on-time delivery but also ensures the quality of work aligns with contractual obligations. Consequently, businesses employing Verified’s solutions are more effective in enforcing contractual terms and optimising the use of their contractor workforce. Further, because of the increase in contractor accountability, high service delivery standards are consistently maintained.
Upon Successful Implementation of Verified, there was a significant rise in onsite contractor service delivery from 60% to 80% over 15 months
When Verified is successfully implemented for monitoring, its independent and real-time data transparency plays an important role in contractor deliverables. Indisputable data tracking, monitoring, and reporting capabilities of Verified’s platform led to:
- Contractors exert greater effort at Verified-monitored client sites, adhering strictly to their commitments;
- Enhanced service provision at Verified sites due to the knowledge of ongoing monitoring; and
- Verified clients being able to strategically manage their portfolios and financial position by ensuring the delivery and subsequent payment for completed work is accurate.
An illustrative example quantifying this improvement is shwon in the extracted dashboard below. Upon being monitored by Verified, there was a significant rise in onsite contractor service delivery – from 60% to 80% over a 15-month period.
Learn More Today
Proactively managing contractor resource shortages forms and important part of your long-term operational and risk management strategies. Read more about the critical need for contractor transparency by exploring our detailed insights – simply follow the link below.
Gain full transparency over your contractor workflow, reduce your business risk, and increase your bottom-line savings today. Give us a call on 1300 133 950 or send an email to book your demo.