More than half of respondents to the American Supply Association’s third COVID-19 impact survey note they have no concerns about the long-term viability of their company due to the pandemic.
This time, the survey, prepared by ASA business intelligence partner Industry Insights, generated responses from nearly 1,000 individuals across 28 associations, including ASA members.
Continuing with that long-term viability question, 34.7% of ASA respondents to the survey, which covers the April 27-30 timeframe, say they have mild concerns, while only 6.1% say they have major concerns. Concerning the coronavirus itself, 24.5% of ASA respondents to the survey say they have had employees with confirmed cases of the illness.
Additionally, nearly 86% of ASA respondents say their company has experienced a negative financial impact from the pandemic, while 14.3% say they have not experienced a negative financial impact. When asked what level of impact the coronavirus is expected on their company in 2020, 63.3% of ASA respondents say it will have a somewhat negative impact, while 32.7% say a very negative impact.
On the subject of staff reductions, 53.1% of ASA respondents say they have enacted moderate staff reductions, while 46.9% of respondents say there has been no impact to staffing numbers during the pandemic. Only 34.7% of ASA member companies responding to the survey have furloughed employees. When asked what percentage of their total workforce has been either furloughed, laid off or terminated, 18.3% fall into the 75th percentile, while 10% fall into the 25th percentile. The average is 13.9% and the median is 12%.
The survey also asked ASA member companies if no government action plan (i.e. CARES Act) was put in place, what level of concern would they have about the long-term viability of their companies? To that end, 28.6% would have no concerns, while that same 28.6% would have mild concerns and 22.5% would have major concerns.
Sticking with the federal assistance theme, 64.6% of ASA respondents have applied for the Paycheck Protection Program and 67.7% of ASA member respondents have received those funds. Of those that answered yes to the PPP program, 87.5% of respondents have already hired back or plan to hire back recently furloughed/laid off employees.
Forty-nine percent of ASA survey respondents say they have experienced delays in getting materials and products from suppliers during the pandemic, while 51% report no delays.
Looking ahead, 22.5% of ASA respondents say they anticipate the pandemic to be over and their company’s day-to-day operations will return to pre-COVID-19 status in two to three months from now. That same 22.5% total says in four to six months from now, while 20.4% say one to two months from now, and 6.1% say in less than a month. More than 16% say seven to 12 months, while just more than 10% say one to two years from now, and two percent say their operations will never return to pre-COVID-19 levels.
When asked about domestic company travel, 44.9% of ASA member respondents say they will resume in one to three months, while 22.5% says in four to six months, while 16.3% say they will resume in the first month. In terms of participating in large group activities such as conferences, events and exhibits, 38.8% of ASA member respondents say they will resume attending in one to three months, while 30.6% say in four to six months, while 12.2% say in a year or more.