A new Indiana Manufacturers Association (IMA) survey found nearly two-thirds of the state’s manufacturers are optimistic about future operations as the pandemic recedes.
IMA’s Spring Business Survey, conducted in late May and early June, measured manufacturers’ outlook and various factors, including federal unemployment benefits, childcare, supply chains and more, impacting business operations and manufacturers’ ability to successfully run their businesses.
According to the survey, 63% indicated that they were mostly optimistic about their future operations. The 6-12 month outlook was mostly positive, with 31 percent Very Optimistic, 44% Optimistic, 21% Stable and 5% Pessimistic.
Looking out further to an 18-24 month outlook, respondents were very positive, with 31% Very Optimistic, 46% Optimistic, 18% Stable and 5% Pessimistic.
“Manufacturers have led the charge throughout this unprecedented year and they continue to do so,” said IMA President and CEO Brian Burton. “Indiana’s outlook remains positive, in no small part, due to thoughtful leadership throughout the manufacturing community.”
Manufacturers noted continuing supply chain issues. Forty percent surveyed said there are serious but manageable delays, with 15% stating serious delays are impact business success. Only 3% said supply chains were very reliable.
Finding qualified workers remains a challenge to manufacturers across the state. Fifty-nine percent indicated it has been extremely hard to find qualified workers for open positions. A total of 84% said federal unemployment benefits affected their ability to hire.
Regarding vaccinations, only 1% said they mandated vaccinations for all employees. Another 25% stated they took no action, and the remaining 74% indicated they encouraged employees to get vaccinated.
“Our challenge now is to take the lessons of COVID-19 and use them to propel business forward with fresh ideas and discern how we can remain agile in times of uncertainty,” Burton said.
Manufacturers surveyed reported that 86% of employees are working fully in person. For those with employees still working from home, 65% stated their timeline for return to in-person work was 1-2 months, 27% indicated in-person work would occur in the Fall and 8% indicated in-person work would recommence in 2022.
