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Quarterly Report
2020 Q2 | Embracing A New Normal[/vc_column_text][/vc_column][/vc_row][vc_row el_class=”max-width-container under-header-block service-related”][vc_column][vc_column_text]
“There is nothing certain but the uncertain”
No other words could be more accurate to describe the second quarter of 2020. The U.S., much like the rest of the world, has been hit by the COVID-19 pandemic.COVID-19 ignited a widespread uncertainty about the future and drove some countries’ economies to depths not imagined since The Great Depression.
However, in times like these, there exists a potential for growth and prosperity as businesses and economies get creative, adapt to a new normal, and re-strategize business plans.
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For the most part, the Accounting and Finance sector has weathered the storm up until now. Work has remained steady for the commercial, industrial, and technology industries, while retail and hospitality have unfortunately seen tremendous losses. There is hope that these industries will begin to recover as state-wide lockdown restrictions ease and more business are allowed to reopen for trade.
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Due to hospitals canceling elective surgeries and imaging to make space for potential floods of coronavirus patients, revenue generation from these streams declined. Emergency departments also experienced a noticeable decrease in inpatient admissions during the high point of the pandemic. Concern remains, however, that local hospitals could see an uptick in novel coronavirus patients as businesses, churches, community centers, and state and local governments begin to “reopen.” The road back to normalcy will be slow as hospitals and other medical facilities restart their business and fundraising operations.
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Hospitality is among the hardest-hit sectors due to fears of infection spreading through travel, community, and group environments. However, the industry is now witnessing a gradual increase in activity, which is good news. Of the 46,000 hotels shuttered during the height of the pandemic, half are reopening, with demand for overnight hotel stays climbing, as is traffic to operational beachfront resorts over weekends by holidaymakers. The lifting of beach restrictions in Broward and Palm Beach counties is another encouraging sign, particularly to major oceanfront hotels planning to reopen later in the summer. Unfortunately, the road to recovery remains long.
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The technology industry has spiked exponentially as companies urgently rushed to move business models and operations online during lockdowns. Growth in this sector has increased year on year in any event, as outlined in various articles on the MSI Recruiting Resource Center but COVID-19 has rapidly expedited the need for businesses to embrace digitalization throughout every touchpoint of their operations to stay ahead of the competition.
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Trusted services and
endless satisfaction
With our blended 100+ years of staffing experience and use of highly efficient search and marketing tools, we match candidates based on years of accumulated placement data.
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Multi-functional
Whether you need a contract or a permanent employee, MSI Recruiters will provide you with skilled candidates that fit your needs.
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Track record of success
More than 50% of MSI’s clients have continuously worked with us for years. Clients appreciate our process and ability to deliver the best candidate for a particular position.
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What Are You Looking For?
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