COVID-19 IMPACT AEC INDUSTRY OUTLOOK & RESPONSE TO COVID-19 PANDEMIC
This document contains data gathered by voluntary respondents to a survey administered by Zweig Group on 3/12/20. Updates to these results will be provided as necessary to account for the fluidity of this situation. Please contact email@example.com for further information.
IMPACT ON TRAVEL POLICIES
Business travel is to be conducted on a case-by-case basis All business travel has been suspended No impact Voluntary business travel has been suspended Other Business travel is limited to or prohibited from certain locations
43% 27% 16%
5% 5% 4%
BUDGET DECREASE PERCENTAGE
IMPACT ON BUDGET
My firm is considering changes to the 2020 budget No changes have been made to my firm's 2020 budget and none are currently planned My firm has altered the 2020 budget due to COVID-19
REVENUE DECREASE PERCENTAGE
IMPACT ON REVENUE
The impacts of COVID-19 will likely cause a decrease in my firm's revenue by this percentage compared to the previous year COVID-19 will not likely impact my firm's revenue in any way COVID-19 will likely cause my firm's revenue to increase
IMPACT ON EDUCATIONAL EVENTS & TRAINING
Employees at my firm are not allowed to attend business conferences and trainings My firm supports employees individual decisions to not attend events or trainings but has not issued a change to formal policy
33% 28% 17% 15% 7%
Business conferences and trainings are approved on a case-by-case basis No changes have occurred to my firm's policy on educational events and trainings Other
Data is from the March 25, 2020 report with 149 respondents.
1200 North College Ave. Fayetteville, AR 72703 Chad Clinehens | Publisher firstname.lastname@example.org Sara Parkman | Senior Editor & Designer email@example.com Liisa Andreassen | Correspondent firstname.lastname@example.org 17% 5% 3% Email: email@example.com Online: thezweigletter.com Twitter: twitter.com/zweigletter Facebook: facebook.com/thezweigletter Published continuously since 1992 by Zweig Group, Fayetteville, Arkansas, USA. ISSN 1068-1310. Issued weekly (48 issues/year) $250 for one-year print subscription; free electronic subscription at thezweigletter.com/subscribe © Copyright 2020, Zweig Group. All rights reserved. 75% 65% 95% Lower Quartile Median Mean Upper Quartile MARK ZWEIG, from page 1 normally do, but you still have the controls and it is still in the air. Fight to get that plane back to safety! Don’t allow your mind to tell you that the situation is hopeless and you can’t do anything about it. Grab those controls. Reflect on your training. Take every action you need to to land that aircraft. Don’t give up. 5)Try to be optimistic. Sure, no one wants to go through a situation like this where we could have a third or a half of our population get a weeks-long illness and have potentially millions die, and have 20-30 percent unemployment. But we are smart. And we are resourceful. We will figure it out and emerge better and stronger in the end. And the most resourceful people will be the ones who figure out how to solve the problems of the day and make life better for everyone else. Be one of those people. Not one of those who thinks this is the end. It’s critical that you be optimistic if you are going to lead others. It doesn’t mean you are stupid, or are burying your head in the sand, but instead you CHOOSE to not give up. You can do that. You must do that. I could go on now but won’t. My (productive) day is wrapping up and it’s time for me to mix up a stiff drink and spend some time with my fabulous wife in our beautiful home while we still have it. But you know what, our lives won’t be measured by the quantity and quality of stuff we have. They will instead be measured more so by the quality and quantity of relationships we have – and what we can accomplish in our lives. MARK ZWEIG is Zweig Group’s chairman and founder. Contact him at firstname.lastname@example.org. IMPACT ON CLIENT ENTERTAINMENT & NETWORKING % My firm supports the decision of employees to refrain from public networking but has not issued a formal policy My firm has mandated that employees refrain from entertaining clients in social public settings (restaurants/bars/events) No cha ge Other My firm is considering asking employees to refrain from entertaining clients in social public settings (restaurants/bars/events) IMPACT ON TELECOMMUTING & WORKING REMOTELY % COVID-19 has changed my firm's policy on telecommuting to allow any employee to telecommute at any time. COVID-19 has changed my firm's policy on telecommuting to allow only certain employees to telecommute currently. My firm allows for telecommuting for certain employees and has not changed its policies in response to COVID-19. My firm allows for any employees to telecommute at any time and has not changed its policies in response to COVID-19. My firm does not allow for telecommuting and has not changed its policies in response to COVID-19. 37% 18% 18% 15% 11% 0% 20% 40% 60% 80% 100% 45% 1/1 45% 30% Tel: 800-466-6275 Fax: 800-842-1560 WHAT PERCENTAGE OF YOUR FIRM's WORKFORCE CAN EFFECTIVELY WORK FROM HOME?
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THE ZWEIG LETTER March 30, 2020, ISSUE 1338
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