Interested
in understanding how the novel coronavirus (COVID-19) has impacted our
members, and what we at SIIA can do to be of help, we
conducted a COVID-19 Business Issues Survey of active members across all
Software & Information Industry Association
divisions during April 2020. We received nearly 400 responses from
member companies of all sizes around the world. This thoughtful and
detailed input is already informing our programming response to the
COVID-19 pandemic and shaping new offerings.
I’m also happy to report that, more than two-thirds of total respondents noted that their team members have pulled together more than ever!
Watch
your SIIA divisional newsletter in the coming weeks for more insights
from the survey responses. Meanwhile, here are highlights of the
findings:
Top business challenges facing members
- Operating with reduced revenue
-
Marketing and selling during the pandemic
-
Maintaining employee health/safety
-
Navigating remote work best practices/tools
-
Planning for the future of events (in-person vs. virtual)
-
Preparing long-term revenue forecasts
Revision of financial forecasts
In
most divisions, 60% or more of respondents expect a downward adjustment
to their 2020 financial projection; in FISD, that percentage was lower
(at just under 40%). Meanwhile, about one-third of respondents in most
divisions have seen an increase in product demand.
Future of work
While
many have implemented furloughs and layoffs, more than one-third of
members responding say their companies have taken actions to retain
employees. Some see the shift to remote work during the pandemic as
setting a new standard for the future of work, and are enabling
permanent remote work options within their companies.
Both virtual and classic management skills are in high demand:
- Top
virtual skills needed include event management, learning/development,
voice-over talent, remote group conferencing, remote selling, and remote
work project management. At least half of respondents said their
companies had started using new remote tools since March 1, 2020.
- Classic
management skills needed include adaptability, empathy, communication,
creativity, crisis management, product development, marketing and
customer support.
What members need now and for the future
“Peer
success stories and innovations” was the universal favorite among
programming topics that members need most during the pandemic and for
the long term. Other top requests across divisions include:
- Best practices development/promotion (overall and for remote work)
- Insights on the future of the events industry
- Advice for leading beyond the crisis
- Virtual meetups with industry peers.
Our action items
-
Incorporating more peer success stories in event programming and newsletters going forward.
-
Increasing opportunities for divisional members to interact (e.g. virtual meetups, communities).
-
Collecting best practices wisdom on a wide range of topics, including remote work.
-
Enhancing industry news and competitive intelligence (e.g. status of industry players).
-
Offering resources and training related to virtual events leadership.
-
Evaluating new ways to connect vendors and purchasers within industries.
Plus, we’ve updated our SIIA COVID-19 Resources page to provide
you with information, best practices and resources to help navigate the
challenges and opportunities in the post-COVID world!
We
want to thank you again for your support of the COVID-19 Business
Issues Survey, and encourage you to let us know how we can help you
further in the coming months!
Best regards,
Jeff Joseph