COVID-19 Prompts Economic Worries
Our third COVID-19 survey looks at how manufacturers are dealing with the pandemic.
As the COVID-19 pandemic continues, manufacturers continue to face new challenges. It’s the topic on everyone’s mind. How will COVID-19 affect us?
For those in manufacturing, our third Manufacturing Industry COVID-19 survey found that the economy was the top concern, cited by 76% of manufacturers.
In fact, of the ten areas of concern, this was one of only two areas of concern that went up for this survey. Achieving business goals over the next six months was the only other category to increase, with a slight increase from 60% to 62%.
This third Quality Magazine Manufacturing Industry online survey was conducted April 16-20 by Clear Seas Research to look at the current manufacturing landscape. The survey asked subscribers from 12 BNP Media publications in the manufacturing industry to determine how their business is coping, what worries they face, and what they expect in the future.
Achieving business goals over the next three months was tied as the second biggest concern, cited by 63% of respondents (though a 2% dip from our last survey done April 2-6). Also at 63%, respondents expressed concern regarding business stability over the next 12 months, down from 65%.
While worries about the economy are on the rise, respondents did express less concern about other topics such as becoming personally infected with the virus (going from 43% to 38%, a 5% drop from our last survey). They also were notably less worried now about family and friends becoming infected with the virus, dropping from 68% to 55%.
Beyond health concerns, respondents also were less concerned this time with supply chain interruptions, employees not showing up to work, and IT cybersecurity with remote employees.
So if you’re feeling a little more hopeful at the end of April than in the beginning, you’re in good company.
How do these results match up to your workplace? Please follow up if you’d like to share your experience. You can reach me at firstname.lastname@example.org.
To download the full manufacturing report for free, visit https://www.clearseasresearch.com/product/manufacturing-ipct-report-fieldwork-april-16-20-2020/