October 14, 2020 This study is part of KatzAbosch’s ongoing commitment to conduct and share timely information to advance government contracting companies and the professionals who manage them. The COVID-19 pandemic has, as we all know, hit the industry with some unprecedented labor and financial obstacles. To get a sense of how government contracting companies are responding we reached out to our clients and contacts and invited them to participate in our peer survey. The goal was to provide general benchmarking data to local companies around the impact COVID-19 to help reinforce operational best practices and highlight planning opportunities to allow your company to thrive in the next 3 to 12 months. COVID-19 Government Contracting Outlook The graph above represents three themes emerging from the survey. These subjects will be reviewed in further detail throughout the report: Cash Flow To prepare for a decrease in cash flow, we recommend focusing on cost saving measures. Cost saving strategies may vary for each company. Top three for the government contracting industry typically are extend terms with vendors, right-size your expenditures and project PPP expenditures. Labor The top labor challenges are measured. The top three challenges are telecommuting, productivity, and labor retention. Safety Employee safety is the top safety challenge for companies. Download the full Government Contracting Community COVID-19 Impact Report to learn more about planning strategies in the face of slowing contract wins and project completions: Reserving Cash Increasing Business Development Efforts Reviewing Cost Cutting Measures If you have questions or would like additional help, please contact us. Learn more about our government contracting services.
