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News & Press: NYSAPLS Member News

Updated COVID Survey Findings

Monday, June 8, 2020  
Posted by: Amber Carpenter
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Thank you to everyone who has responded to our survey. We've have shared the updated results to date below.

 

If you haven't already, please participate in this important study to help us understand the affects of COVID-19 on the surveying profession in New York.

 

Take Survey Now

 

NYSAPLS – COVID-19 Survey Findings as of 6/8/2020

 

The effects of the COVID-19 health crisis have been far reaching and have greatly impacted the members of NYSAPLS. We conducted a survey in an attempt to quantify that impact and determine how the members of NYSAPLS are dealing with the ongoing health pandemic, in both economic and personal terms. We have received 105 responses thus far, and a summary of key findings is explained below:

 

-       The total lost revenue due to the pandemic and work stoppages among the 105 respondents is estimated at nearly $7.7 million. Many did not provide answers as it is still too early and difficult to quantify, so that figure is surely higher.

o   We received 59 responses on the question of lost revenue out of the 105 total questionnaire responses. Of the 59 who answered this question, the total full/part-time staff prior to the COVID-19 pandemic of all the businesses consisted of 1004 employees.

o   Of those 59 businesses, they have reported a loss of 106 total employees, which equates to a 9.5% reduction in employment. This number remained the same when considering the total reported reduction in staff numbers of all 105 respondents, so it appears to be fairly representative of the industry.

o   Of the 59 businesses who reported losses in revenue, the average loss per employee who has been let go is $73,323.

o   The median loss in revenue of the 59 businesses who reported it was $50,000; however, 20 of the 59 reported losses were greater than $100,000, with one reporting a loss of more than $1 million thus far. Of those 20 respondents, 18 reported losses greater than $100,000 and had annual revenues near or greater than $1 million in 2019.

 

-       29% of respondents reported that they had seen a reduction in the number of staff hours worked by more than half since the beginning of March. 76% of respondents reported that they had seen some amount of reduction in the number of staff hours worked since the beginning of March.

 

-       56% of respondents reported that their business had not yet been forced to reduce the number of staff due to the pandemic. The remaining 44% of respondents reported some degree of reduction in employment. Of businesses that have reduced the number of employees, the largest observed segment, at 6% of respondents, saw a reduction of more than 50% in staff numbers.

 

-       64% of respondents reported a loss in revenue during the month of March 2020 as compared to March 2019. Nearly 1 in 5 respondents reported a loss in revenue of more than 50%. A small segment, roughly 9% of respondents, reported that their revenue had improved between March 2019 and March 2020, and 28% said their revenue remained about the same.

 

-       Regarding the available state and federal assistance funds, a total of 74% of respondents said they had applied for some form of aid. The breakdown is as follows:

 

o   27% of respondents have applied for unemployment insurance;

o   6% for the SBA Express Bridge Loans;

o   50% for the Paycheck Protection Program; and

o   12% for the Economic Injury Disaster Loan Emergency Advance.

*It should be noted that of those who did respond to this question, many said that they had applied for multiple assistance funding programs.

 

 

Take Survey Now

 


NYSAPLS, Inc.
146 Washington Avenue
Land Surveyors Building
Albany, NY 12210
518-432-4046 -- (f) 518-432-4055
info@nysapls.org

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