Net gain in jobs expected in 3 months; financial normalcy in 8 months.
GTreasury is committed to helping its customers and the industry at large make actionable decisions throughout the COVID-19 pandemic. With that in mind, we are active supporters of the Treasury Coalition, an industry-wide effort led by Strategic Treasurer.
The Treasury Coalition has launched the Global Recovery Monitor, an “immediate and ongoing survey of COVID-19 impact and response.” The survey collects ongoing impact and reaction data from corporate treasury professionals around the world to provide flash insights into the current sentiment of the industry. The survey will be completed every other week.
“Financial professionals expect financial normalcy in the next 8 months, feel optimistic that job rates will improve in the next 3 months, and perspectives on organizational liquidity remain positive,” said Michele Marvin, vice president at GTreasury.
- Net gain in jobs over the next 3 months: 26% of respondents say they will be hiring in the next 3 months (18% said they have additional plans for layoffs). This accounts for a 9% gain in jobs overall.
- Impact of Covid-19: Respondents continued to report positive perceptions on how their company/organization, community, and country are responding to COVID-19.
- Liquidity: This was the fourth week in a row of improving outlook for organizational liquidity, with 35% indicating a positive movement.
Cautionary and negative outlooks:
- Continued concerns about accounts receivable: For eights week in a row, organizations reported a negative outlook for accounts receivable, although these concerns have lessened each week.
- Increased cyber-fraud: 36% of respondents reported an increase in the attempts of fraud or cyber-fraud.
- Financial normalcy: Predictions of when businesses will return to the state prior to COVID-19 improved from almost 12 months last week to 8 months this week.
- Economic recovery: This week, 62% had a negative outlook of a recovery happening in the next three months (down from 54% last week). The optimism of a recovery in the next 12 months was 53% this week, up from 43% last week.
Below are key graphics from this week’s report. If you cite or use any of the statistics or graphics in social media or reports, please attribute them to the Treasury Coalition: Global Recovery Monitor.