Insperity Announces Client Survey Results: Impacts of COVID-19
04 Mayo 2020 - 3:48PM
Business Wire
- Respondents highly focused on employee well-being, workplace
safety, and engagement
- 78% of respondents transitioned to a work-from-home-model
- 59% of applicants have received Paycheck Protection Program
funds
Insperity, Inc. (NYSE: NSP), a leading provider of human
resources and business performance solutions for America’s best
businesses, today announced the results of its Client Business
Outlook Survey regarding the impacts of COVID-19. The survey of
Insperity’s Workforce Optimization® and Workforce SynchronizationTM
client base, conducted during the week of April 27, 2020, analyzed
the key areas of concern, including workplace safety, emergency
funding, employee well-being and engagement, staffing and
compensation, along with financial implications.
“Despite the current situation, these survey results show that
many of Insperity’s clients continue to focus on the well-being of
their employees as they navigate the challenges of the COVID-19
pandemic, reflecting the tenacity and compassion of America’s best
small and medium-sized businesses,” said Paul Sarvadi, Insperity
chairman and chief executive officer. “We are pleased to see that
our business continuity support has been successful and highly
valued by our clients, and we remain committed to standing
shoulder-to-shoulder with them through this challenging time.”
One key finding from the survey – 59 percent of respondents
applying for Paycheck Protection Loans (PPLs) received funds before
initial funding ended on April 17 – well above the national average
of 20 percent reported by several outlets. Overall, 80 percent of
respondents have applied for PPLs due to the COVID-19 crisis.
According to the survey, with regard to business adjustments,
respondents were appropriately focused on employee and workplace
safety. Seventy-eight percent transitioned to a work-from-home
model. Fourteen percent temporarily closed one or more locations
and 20 percent reduced the hours employees are working.
In terms of current priorities for their business, as expected,
82 percent of respondents are focused on business continuity during
the economic slowdown. The second top priority, at 64 percent, for
respondents is helping their employees through the crisis with a
focus on their well-being and mental health. Return to work and
workplace safety were concerns for 57 percent of respondents and 47
percent were concerned about employee engagement and culture.
Since the COVID-19 outbreak, 27 percent of respondents have
reduced staff and 15 percent have implemented pay reductions.
When asked about future staffing levels, over the next several
months, 70 percent of respondents expect to maintain or increase
staffing levels, while 11 percent anticipate reducing staffing
levels. Following those short-term changes, later this year, 56
percent of respondents expect to be at or above pre-COVID-19
staffing levels, with 18 percent expecting to remain below
pre-COVID-19 staffing levels. The majority of respondents, 72
percent, expect to maintain current compensation levels.
The financial impact on businesses is noteworthy, with 87
percent of respondents overall indicating COVID-19 has negatively
impacted their business, including 36 percent reporting a
significant negative impact.
Insperity conducted the survey of business owners and on-site
supervisors in a variety of industries from its base of Workforce
Optimization and Workforce Synchronization clients throughout the
United States on April 27- May 1, 2020. The national survey has a
statistical confidence level of 95 percent with a margin of error
of 4.0 percent.
About Insperity
Insperity, a trusted advisor to America’s best businesses for
more than 34 years, provides an array of human resources and
business solutions designed to help improve business performance.
Insperity® Business Performance Advisors offer the most
comprehensive suite of products and services available in the
marketplace. Insperity delivers administrative relief, better
benefits, reduced liabilities and a systematic way to improve
productivity through its premier Workforce Optimization® solution.
Additional company offerings include Traditional Payroll and Human
Capital Management, Time and Attendance, Performance Management,
Organizational Planning, Recruiting Services, Employment Screening,
Expense Management, Retirement Services and Insurance Services.
Insperity business performance solutions support more than 100,000
businesses with over 2 million employees. With 2019 revenues of
$4.3 billion, Insperity operates in 83 offices throughout the
United States. For more information, visit
http://www.insperity.com.
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Investor Relations Contact: Douglas S. Sharp Senior Vice
President of Finance, Chief Financial Officer and Treasurer
281-348-3232 Investor.Relations@insperity.com
News Media Contact: Suzanne Haugen Public Relations
Manager 281-312-3543 Media@insperity.com
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