Pearson Partners International: The Business And Economic Impacts Of COVID-19
Pearson Partners International recently surveyed 520 business leaders on their experience during the COVID-19 crisis and how they expect their work, their businesses and the U.S. economy to move forward.
The Pearson Partners International COVID-19 Business Impact Study yielded some surprising results about the resiliency of businesses and the overall outlook for the future. Some of the key takeaways included:
- Most companies plan to keep the flexibility of working from home for at least part of their workforce in the future.
- The majority of workers in the study were very or extremely enthusiastic about their work and felt confident in their job security.
- Two-thirds of respondents expressed confidence that their companies were financially stable and would be able to survive the economic downturn.
- While spending is down in business travel, marketing and advertising, and supply chain availability has diminished for many industries, most companies are increasing the development of new products and services and acquisition of new customers.
- Although revenue and business operations took a big hit, most respondents expected that their company would be able to rebound in the next two years or sooner.
- Almost half of the survey respondents believed the U.S. economy would recover in the next one to two years.