• “Smaller projects, projects postponed, projects cancelled.”
• “A real slowdown in new private sector projects.”
• “Reducing expenses and personnel.”
• “Desire to use glass/plexiglass as safety for customers and employees.”
• “We have a construction side and a service side. The service side decreased drastically, on the
construction side, jobs were delayed in starting.”
• “Jobs have been cancelled or postponed, new orders have dropped, and pipeline is down.”
• “Margins have changed with an increased focus on future work, as available work will definitely
shrink in the future.”
• “We are bidding on work that we are really not accustomed to bidding or doing.”
Healthcare
While some sectors of the healthcare market have understandably surged during the pandemic, it’s a
small number. Only 15% of healthcare industry respondents indicated experiencing a business increase,
while a much larger and surprising percentage (62%) report their business has declined, with 33%
indicating the drop was a steep one and nearly 5% reporting the business was forced to close.
The most significant business change is delivery of services via telehealth – 75% of the respondents who
report having significantly changed their business practices indicate this was the biggest change.
Benefits-sector participants report that staying up-to-date with healthcare plan requirements and
managing costs has been the most significant impact to their operations.
58% of respondents in this sector report securing a PPP loan, and the overall level of concern about loan
repayment requirements is relatively low, at 34 on a scale of 1-100, with only 20% of respondents
indicating they’re concerned about loan repayment.
Morale is largely unaffected for many, with 53% of respondents indicating it’s about the same as it was
prior to the pandemic, and 12% saying morale is high. On the downside, 29% report that morale is low in
their organization.
Revenue projections in this industry are predictably somewhat grim, as they align with the drop in
business participants have experienced. 40% say they expect a steep revenue decline in the second
quarter compared to the previous year, and also predict business will decline in Q3 compared to 2019.
The percentage expecting a steep decline over 2019 in Q3 drops off dramatically from Q2, with only 7%
indicating they expect a steep decline. The picture begins to brighten in Q4, where 40% of respondents
expect an increase in revenue compared to the same period in 2019, and another 40% expecting it to be
about the same as the previous year.
Employee issues top the list of concerns for healthcare industry participants, with 53% reporting this as
a concern. Economic recovery timing and concerns about cash flow are high on the list for 47% of