2020 Marcum National Construction Survey

Top Priorities

The contractors who are successful in the post COVID-19 environment will have successfully implemented safety practices (staggered workforces, sanitization, employee protection and support), diversified their supply chains, and addressed contract language. Those that make these changes will reap the benefits of being trusted by property owners, lenders and insurers to take on new work in the coming months and years. As one of our respondents summarized, “The impact of COVID-19, the stimulus package, and the election will have a major impact on the future of small business.”

We also asked survey respondents to share their highest priorities for the next year. Strategic planning, finding solutions for skilled labor, and organizational planning top the list of priorities. Notable differences in pre- and post-pandemic respondents were found in organizational planning and strategic planning. There was more than a 10% increase in the number of post-pandemic respondents who chose these categories as top priorities. Managing material vendors was chosen by 8% more respondents post-pandemic, not a surprise since finding alternate sources will be critical moving forward.

 Which of the following actions are among your company’s top priorities? (Select all that apply)

56%

Strategic planning

45% 45%

Organizational planning

Finding solutions for skilled labor Cutting operational costs Seeking new markets Restructuring company to your position for growth

40%

38%

31%

18%

Managing your material vendors

15%

Seeking M&A opportunities Getting into new construction trades Other

11%

6%

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