A Gartner, Inc. survey of 99 CFOs and finance leaders taken April 14-19, 2020* revealed that 42% of CFOs are not incorporating a second wave outbreak of COVID-19 in the financial scenarios they are building for the remainder of 2020.
Additional survey data showed that that only 8% of CFOs have a second wave factored into all their planning scenarios, and only 22% have a second wave factored into their “most likely” scenario. The lack of planning comes even as CFOs express a cautious approach as to when they will fully reopen their operations and bring employees back to their normal office routines.
“As CFOs are attempting to project revenue and profits for 2020, it’s surprising that 42% are not baking a second wave of COVID-19 into any of their scenarios” said Alexander Bant, practice vice president, research, for the Gartner Finance practice. “Our latest CFO data also reveals that most executive teams are still trying to decide what factors they should use to determine how and when to reopen their offices and facilities.”
While 81% of CFOs report that they will look to state and local authorities for clearance on when to restart their operations, 55% of CFOs reported that they will take a measured approach as to when their employees will return to offices, while 44% are unsure how employees will be brought back to work (see Figure 1).