March 2020 Hiring and Layoff Poll of Growth and Mid-Sized SaaS Companies

Hiring and Layoff Poll  

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.

FURLOUGHS

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.

Furloughs

Source: OPEXEngine 2020

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.

Hiring Freezes

Source: OPEXEngine 2020

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.

Hiring Freeze

Source: OPEXEngine 2020

LAYOFFS

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.

Layoffs

Source: OPEXEngine 2020

POLL DEMOGRAPHICS

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.

poll demographics

Source: OPEXEngine 2020

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. Our next poll has 4 questions regarding Sales Quotas and Compensation, it should only take 1-2 minutes to complete. Please click here to take the poll. If you provide your email address, we will send the results directly to you when they are available.

Please keep your questions coming! I encourage you to submit questions, and suggestions on future poll questions, by emailing me at lauren@opexengine.com.

If you would like to download the PDF of these poll results to share with your team, please click here.

BENCHMARK TO WIN

For more detailed benchmarks on financial and operating performance across the company, participate now in the 2020 OPEXEngine benchmarking, and access our proprietary database of 600+ private and public Software & SaaS Companies. Click here for more information on how we can help your company with budgeting & financial planning, managing costs, custom benchmarking against your peers, and more.

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