LEEA research shows an optimistic post-pandemic outlook
By Crane & Hoist Canada
By Crane & Hoist Canada
Despite the COVID-19 health crisis impacting significantly on the Lifting Industry, Lifting Equipment Engineers Association (LEEA) Sector Benchmark Research reveals optimism for the post-pandemic future.
Seventy-two per cent of firms reported being optimistic for the next six months, with this increasing to 80 per cent for the next 12 months. However, the breadth of specialisms and the number of supply chains in the sector have produced a varied picture in the research.
LEEA does not expect the sector to return to pre-pandemic patterns of work as there are now clearly different expectations around training, travel and work patterns, according to the research. The majority of firms reported their attitude towards e-training had changed in the past 12 months, with it being seen much more as an option.
“2020 has been a year that none of us expected. Our personal and work lives have all been impacted and as we look forward, we are now trying our best to predict what the future will look like,” said Ross Moloney, CEO of LEEA.
Training by Zoom specifically has its supporters, with nearly three-quarters of firms reporting that they now see it as a more likely option. However, there is clearly a view that face-to-face training remains the preference, regardless of company size or specialism.
Most firms are looking at more focused travel, however, with 65 per cent reporting that they expect to make changes to their business travel budget post lockdown.
LEEA says few can be surprised to see such a large percentage of respondents recording revenue falls due to the economic impact of the pandemic and associated lockdowns. The survey reveals a larger percentage recorded an increase in revenue. The picture improves when looking over the duration of the crisis: during the initial pandemic period (April to June 2020), there was an equal split between those reporting revenues up or down compared to the same period in 2019 (45 per cent each).
But, across the longer period of April 2020 to February 2021, the balance shifts to 54 per cent reporting revenues up compared to 39 per cent seeing a drop, which gives reason for optimism looking forward. Nevertheless, there has been a dramatic impact on the workforce with an incredible 50 per cent of respondents making job losses attributable to the pandemic across a range of roles.
Half the respondents expect the workforce to be smaller in March 2022 than it was in March 2020. While we can speculate about the reasons behind the ups and downs, further research will be required to fully understand which parts of our sector did better than others.