In this new context, 47% of companies plan to make remote work a permanent option for roles that allow, 46% plan to accelerate automation and new ways of working, 44% plan to change shifts and/or alternate crews to reduce exposure, and 22% plan to reduce real estate footprint (partial opening of offices, retail locations, etc.).
“Most companies have moved beyond the short-term, reactive phase of the novel coronavirus pandemic, when they mobilized their response plans to address immediate concerns, such as health and well-being. Today, they still need to do what it takes to ensure the safety of employees and the survival of their business, but they are also thinking about how to stabilize and operate in the new normal. An essential part of stabilizing business operations is the reopening of offices, factories and other work sites and top two measures CFOs are considering are changes to workplace safety measures and requirements and reconfiguring work sites to promote physical distancing,” said Ionut Simion, Country Managing Partner at PwC Romania.
Even as CFOs plan for recovery, 70% are greatly concerned about the impact of COVID-19 on their business and 80% across all territories expect a decrease in revenues and profits .
From an industry perspective, retail and consumer CFOs report the highest level of concern (75%), which aligns with the mass closing of retail stores and more consumers staying at home, perhaps with drastically reduced disposable income.
The lowest level of concern about potential business impact was reported by energy, utilities and resources CFOs (57%).
Nearly half of CFOs (49%) believe their company could return to normalcy within three months if COVID-19 ended today, compared with 56% in the previous survey.
PwC surveyed 871 CFOs from 24 countries or territories during the week of 20 April.