Business Outlook Accompanying Commentary Featuring: Dave Davenport – CEO, MotherG Survey Joe Skotarzak – GM, MotherG – Wisconsin Results Mike Viso – Director of Marketing, MotherG To watch the commentary visit: Motherg.com/covid-19-resources
Webinar on April 22nd at 11am Register Today! www.MotherG.com
How impactful will the COVID-19 Pandemic be • No surprise Covid-19 has an impact on on your business? the businesses. • Even Essential Businesses have Average 37% seen issues, slight declines to High growth, but the working 49% environment has changed. There Will Safety issues, supply chains, etc. Low 14% Be Impact • As you will see, there are some Revenue Impact from organizations that do not appear to be Covid-19 Pandemic doing much planning around the No change impact and consequences. Dramatic drop in revenue Decline in … www.MotherG.com
Did You Prioritize Correctly? • Organizations have reacted by focusing on client and operations. Getting the business operational and client impacts defined were the priority. • Employee safety was not as critical, possibly due to the Shelter At Home order. But this raised issues in how to get up and running. • Also, clearly organizations were focused on reducing costs www.MotherG.com
Working From Home Has Issues • Over half the respondents have staff working from home. A large portion of organizations are still “in the office”. • Getting the “tech” working from home tops the distractions. Video conferencing, VPN connections, performance issues all seem to challenge workers. • There are clearly splits. Some feel more productive, others have issues from the family members. Clearly some WFH employees have kids, others don’t. Biggest Technical Hurdle? COLLABORATING IS DIFFICULT INTERNET CONNECTION IS SLOW CAN'T ACCESS WORK FILES LACK OF EQUIPMENT www.MotherG.com
Mitigating the Challenges from Covid • Clearly most organizations have focus on client retention. Oddly, 25% did not have any direct actions for client retention. Might they feel confident from Essential business classification? Or distracted by other issues? Unclear. • For the respondents that answered “other” it was 50/50 on what “other” meant. Half were looking internally to deliver their product with the same conviction. The other half focused on cutting costs. Which is why every one of those people answered “likely” or “certainly” to “reducing payroll” elsewhere in the survey. • Oddly, no one is focused on growing sales. It seems a perfect time to train and develop sales for the recovery. When revenue falls, it is counter intuitive but common to reduce sales staff. Poor performers should go but rehire and train now. www.MotherG.com
Payroll Is the Dominant Cost Reduction • Payroll reduction is a target cost cutting tool. Only 39% of respondents were not looking to reduce staff. Payroll might be the fastest cost reduction any organization can make when in distress, unfortunately. • Question: How will PPP impact this trend? • Certainly capital projects, even consultants where furloughs might be simple. Again, though, we see Sales and Marketing at almost 1/3 of respondents. Might not there be opportunities in our midst? www.MotherG.com
Did we forget about the security and protection or has it been back-burnered? Concerned About Is your Business % Testing & Uptick in COVID-19 Continuity Plan Confirming Backup & Scams Running Smoothly? Recovery Moderat Need e High Help 20% 27% Maybe Yes 23% Yes No No 55% No Maybe Low 22% 53% Yes • Clearly most respondents were not concerned about scams. Only 27% were very concerned. Yet, there has been a dramatic increase in attack vectors. Further, wit the WFH model of many employees, they are more susceptible to attack. Hyper vigilance is urged. • Although businesses have responded well from the disruptions – clearly 2/3 of respondents are “all good” – just over half have tested their backups. There is a disconnect here. • Might these businesses be distracted from Covid , placing these “technicalities” on the shelf while we get the business going? Opportunity: HACKER. www.MotherG.com
Can we afford to look ahead? Can we not? • We can empathize with the distraction Covid has on the business. Yet, can we afford NOT to look forward? • What threats and opportunities are presented from this crisis? • The health of your organization is on the line. Sometime must be spent looking forward: • Operations, BizDev, Market opportunities, competitive threats. www.MotherG.com
01 02 03 Suggested Look to the Future. Focus on Culture. Consider investing in Course of BizDev. • This crisis will end. What • Consider how the then? employees and the clients • There are gains to be Action feel from how your • How will change impact: made in connecting with organization is treating ➢ Operations your market. Separate them. When this is over, yourself from your ➢ Competition how do you want them to competition. ➢ Customers think of you? • Remember: People remember how you made them feel, not what you did for them or to them. www.MotherG.com
Webinar on April 22nd at 11am Register Today! www.MotherG.com
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