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March 18, 2021

Member Sentiment Climbs in ACEC Research Institute's Ninth COVID Member Survey

Member Sentiment Climbs in ACEC Research Institute's Ninth COVID Member Survey

Member firm sentiment about the market continues to improve, according to the latest ACEC Research Institute member survey on the impact of the COVID-19 pandemic. In the survey of 408 members between February 25 and March 5, 42 percent said their firm's overall finances are better than before the pandemic, up from 32 percent in the eighth survey, which was conducted in September 2020.

Looking forward, four in ten member firms do not expect business to return to normal for at least another year, while 31 percent believe that will happen within six months,

More firms are reporting backlog increases since the last survey, up from 31 percent to 44 percent, with more than two-thirds of firms with more than 500 full-time employees reporting an increase.

A majority of firms have applied for PPP loan forgiveness and most of the rest plan to. More than half of firms that received a PPP loan say the FAR Credits Clause will impact their overhead rate. One in four firms have applied for a Second Draw PPP Loan.

A plurality of firms plan to curtail remote work policies once social distancing rules are lifted. Fifty-eight percent of firms are at least somewhat concerned about being held liable for office workers getting sick.

Nine out of ten firms plan to allow staff to travel to client meetings within the next six months.

Click here to view the survey results.


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