AEC Industry Survey 2020
Meeks Marketing recently surveyed over 1,500 members of the Texas AEC industry to get a better pulse on the state of the market. See below for the full survey results, but we wanted to share a few key takeaways as well.
While it is almost an even split between firms who are working exclusively at home, and firms who are not, over 70% of respondents note that their company has a plan to transition back to working in a physical office. Anecdotally, most of our clients are operating out of a mixed model, with some employees working from home and others maintaining social distancing measures at an office. It’s interesting to note that COVID-19 could forever change company expectations regarding time spent in the office, and time spent working from home. Now that companies have the infrastructure to support working from home, we believe it will be much more prevalent going forward, even as offices are opening back up.
Over 75% of respondents have had projects put on hold due to COVID-19. While this isn’t surprising, it’s a reminder of the far-reaching and lasting effects on our industry. The good news is, as of now, there is still work to be pursued. 57% percent of respondents believe that public entities are issuing the same amount of RFQs and we have personally submitted several public proposals for clients recently. However, 63% of respondents believe that private clients are not issuing RFQs at the same rate, hinting at an upcoming slow down in that market. One way to combat the potential reduction in private sector work is to diversify your portfolio and stretch a bit to identify public pursuits that are within reach. Ways to do this include pursuing smaller projects, being willing to take on IDIQ work to build a relationship, and finding creative teaming opportunities.
When respondents were asked if they believe another Great Recession is on the horizon over 70% responded affirmatively. While we don’t know what the future holds, firms who are proactive will fare much better over the next year. Many of our clients are identifying innovative ways to pursue work, avoid layoffs and remain relatively stable during these uncertain times.