In late March, we launched a SaaS peer community poll to see what companies are doing in light of the corona virus pandemic’s effects on 2020 budgets. Approximately 70 unique companies participated, and we pulled together the results here. Companies ranged from early stage to companies with over 1000 employees, the majority of respondents were from companies with less than 500 employees.
Very few companies are furloughing workers as of the end of March. Of the small number of respondents who said their company was furloughing workers, 60% were companies with less than 100 employees and 40% were companies with 100-500 employees.
HIRING FREEZES AT THE MAJORITY OF COMPANIES
Over half of the respondents said they have a hiring freeze in place or were planning one. And 26.4% of companies said they no hiring freeze or any reduction in hiring planned, again, as of the end of March.
The majority of hiring freezes are planned in companies with less than 500 employees. Only a third of the companies with over 500 employees were planning a freeze and of those, none of the companies with over 1000 employees said they were planning a freeze.
Almost three quarters of the respondent SaaS companies are not planning layoffs as of the end of March. 19% are planning less than 20% reductions from 2020 plans.
The majority of survey respondents were from companies with between 100-500 employees, and the second largest group after that were early stage companies with less than 100 employees.
SALES QUOTA AND COMP POLL
In light of the pandemic’s effects on 2020 budgets, we have heard from a number of members of the SaaS community with specific questions regarding shifts in how sales teams are organized, incentivized, and compensated. To read the results and discover what we found regarding changes to Q2, Q3, Q4 and FY 2020 sales quotas, territories and commission payment policies, click here.
Please keep your questions coming! I encourage you to submit questions, and suggestions on future poll questions, by emailing me at firstname.lastname@example.org.
If you would like to download the PDF of our March 2020 Hiring and Layoff poll results to share with your team, please click here.
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