Construction Community COVID-19 Impact Report October 1, 2020 This study is part of KatzAbosch’s ongoing commitment to conduct and share timely information to construction companies and the professionals who manage them. The COVID-19 pandemic has, as we all know, hit the industry with unprecedented labor and financial obstacles. To get a sense of how construction companies are responding we reached out to our clients and contacts in June and invited them to participate in our peer survey. The goal was to provide general benchmarking data to help reinforce operational best practices and highlight planning opportunities to allow your company to thrive. Insights Construction companies were deemed essential as COVID-19 developed into a pandemic. As such, companies had to aggressively undertake workflow changes that impacted day-to-day operations for them. Everyone in the company, from office staff to the workforce on the job site, was impacted by the implementation of COVID-19 safety criteria. Sick leave and other employment policies were scrutinized and adjusted. The graph to the right represents three themes emerging from the survey. These subjects will be reviewed in further detail throughout the report. Download the Full Construction Community COVID-19 Impact Report to Receive: Cash flow and labor retention outlook Insight on how your peers have been impacted by the COVID-19 pandemic How peers are planning and anticipating for spring 2021 If you have questions or would like additional help, please contact us. To learn more about how our construction and real estate services can help you, please click here. About KatzAbosch: Founded in 1969, KatzAbosch is one of the largest CPA and business consulting services in the Mid-Atlantic region. As an accounting firm, our mission is to provide the highest quality accounting, tax, financial and management consulting services to our regional clients. We understand the needs and challenges of our clients and we have made it our obligation to create, grow and protect asset value. KatzAbosch is consistently named a Best Accounting Firm to Work For in Accounting Today and has been named a Top 200 Accounting Firms in the Nation by Inside Public Accounting. Our firm is also ranked among the Top 15 Largest Accounting Firms in the Baltimore Area by the Baltimore Business Journal and a Top Workplace four times by The Baltimore Sun.