Gould + Partners released results of a survey designed to “gather a temperature read on how the North American PR industry is coping with the short-term trauma of the Coronavirus pandemic.”

The bottom line, states the survey, is that “like other professional service businesses the Coronavirus surprised agencies of all sizes and has dealt a devastating short-term blow. Over the long-term the industry always rises in better shape and performance. For the short-term our primary advice is to negotiate with your existing clients to adapt to their needs and, by all means, keep their retainers coming in even if they need to be reduced.

“Our survey received 87 responses from agencies of all sizes across the country. Of those firms, 57.5 percent said they had already experienced client terminations, while 85.0 percent have had retainer clients suspend their account. Most of the responding firms are attempting to retain their employees, the remaining 14.9 percent have had to terminate staff to some extent.

“Interestingly, our survey found that 12 firms (13.8 percent) had furloughed some employees – defined as reduced or eliminated salaries but continued to provide benefits. 18.4 percent of the responding firms stated that there have been involuntary salary reductions company wide, while 9.2 percent reported voluntary pay cuts. Almost all eligible firms are filing for the Federal Payroll Protection Plan. However, the issue is whether the eight-week period will be enough to cover staff salaries without a corresponding recovery of fees lost.”

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