The coronavirus outbreak is a human tragedy with very real business and economic consequences. Business leaders globally are in uncharted waters as together we face the challenges surrounding the recent pandemic and resulting economic impact. Insight into how others are reacting, overcoming current challenges, and planning for tomorrow can provide us with not only comfort, but a shared community of learning and preparation.

The bringing together of industry professionals to share their experiences with the Coronavirus / COVID-19 as related to business activities including planning, staffing, investing, and marketing in an online survey, provides a collective industry perspective. This is a perspective that will continue to change over time; a perspective that can help inform the business decisions we make today as well as our future plans. This is a perspective that can unite the industry and encourage collaboration; a perspective that will be monitored and reported as events continue to evolve.

Clear Seas Research (a BNP Media Company) is uniquely positioned to engage with industry professionals in niche market sectors, which are all impacted in different ways by this pandemic. The unrivaled industry access available to Clear Seas Research through myCLEARopinionPanel and BNP Media subscriber databases provides extensive reach to business thought leaders, decision makers, decision influencers, skilled trade professionals, and general employees of companies of all sizes.

Industry areas of concern:

• 78% concerned about the current economy
• 75% concerned about achieving business goals over the next 3 months
• 73% concerned about achieving business goals over the next 6 months
• 69% concerned about business stability over the next 12 months
• 66% concerned about supply chain interruptions
• 64% concerned about friends/family becoming infected by COVID-19
• 52% concerned about employees not showing up for work
• 49% concerned about becoming personally infected by COVID-19
• 43% concerned about skilled labor shortages
• 22% concerned about IT cybersecurity with remote employees

Top actions being taken to keep employees healthy:

• Encouraging handwashing (91%)
• Promoting social distancing (86%)
• Increased frequency of cleaning/sanitation procedures (85%)

Anticipated workforce changes in next 3 months:

• Lay off all employees (3%)
• Lay off some employees (25%)
• Temporarily suspend employees with pay (16%)
• Temporarily suspend employees without pay (18%)
• Rehire previously suspended/laid off employees (15%)
• Hire new employees (22%)
• No change (23%)
• Don’t know (20%)

Top three employee mass communication tool implementation:

• Email (95%)
• Text messaging (66%)
• Industry-focused comm. apps (7%)

Top activities of greater focus today relative to 6 months ago:

• Incorporating additional health/safety procedures into business plans (38%)
• Reading more industry publications (digital or print; 25%)
• Increasing marketing efforts to remain top of mind (25%)
• Learning new skills (25%)
• Attending more webinars (24%)
• Investigating new technologies for future business applications (17%)
• Nothing new, waiting it out (19%)

Click here to read the full report on the Clear Seas website.