Until a few months ago, most contractors would have considered the Great Recession the biggest business challenge they have faced. The protracted downturn that started in 2008 put the leadership and strategic planning skills of industry executives to the test, forcing difficult decisions aimed at keeping their firms afloat until a recovery took hold.
The COVID-19 outbreak has changed that sentiment. Within a matter of days, contractors found themselves scrambling to figure out how to perform work while complying with social distancing and other new safety measures, or wondering if they could work at all under state and local shelter-in-place restrictions. Compounding the day-to-day challenges has been uncertainty about what the post-pandemic economy will hold, and what strategic adjustments may be needed to survive.