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New JLL report reveals compliance risks in corporate facilities—and how companies can respond
CHICAGO, Nov. 19, 2015 – Changing business requirements have made facilities management compliance a challenge for many companies around the world. With more than two-thirds of respondents to a recent survey ranking compliance as a high priority, it’s on the agenda of facility management professionals more than ever before. New research released by JLL today tackles the complex topic, revealing the expectations and need for potential risk to the business to be managed by facility management. The challenge is to ensure critical global compliance goals across multiple dimensions are achieved.
“Every country, region and city adds a layer of complexity to operational compliance for the facility manager,” said Maureen Ehrenberg, International Director of JLL’s global Integrated Facilities Management business. “The new Outsourcing 4.0 approach enables corporations and their service providers to rise to the occasion addressing operational, regulatory, contractual and ethical compliance. The stakes are high, because non-compliance can have serious consequences for a company.”
Ever-increasing compliance demandsAs compliance mandates become more comprehensive, the risks are growing, too. JLL experts have identified seven primary areas to keep an eye on. .A lack of awareness can result in penalties that may be severe as well as resulting in a negative impact on your brand and organization.
“First and foremost, facilities managers must prevent threats to human health and safety that can arise from poorly maintained life safety equipment, improper handling of hazardous materials and other workplace issues,” explains Jim Whittaker, President and CEO, Facility Engineering Associates and contributing author to the JLL report. “Beyond physical risks, however, companies must also heed new financial, reputational and contractual risks. The cost of non-compliance can be severe and even material.”
Make no small compliance plansThe challenge of maintaining current compliance knowledge is a major factor behind the emergence of the Outsourcing 4.0 facilities management model. In this new approach, a company relies upon a tight handful of outsourced service providers that share risks and rewards in pursuing the company’s business goals.
“Companies are seeking integrated facility management partners that have invested in a culture of safety, compliance and infrastructure resilience,” says Ehrenberg. “These service provider partners are expected to assume much of the risk in the Outsourcing 4.0 model, and to offer a track record in creating and managing global operating standards for compliance.”
About JLLJLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $57.2 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.
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