What changed in this filing

/stocks — the workspaceLOADING

Item 1. Business

2021-03-11 compared with 2020-03-12 · 132 added, 64 removed, 99 unchanged (66% of the section changed)

Overview and History

BG Staffing, Inc.

(“BGSF,” “we,” or the “Company”) is a leading national provider of workforce solutions that operates, along with its wholly owned subsidiaries, within the U.S.

(“BGSF,” “we,” or the “Company”) is a leading national provider of workforce solutions that operates, along with its wholly owned subsidiaries, primarily within the U.S.

in three industry segments:

3 unchanged sentences

We employ a diverse operating model, both from a skill set and a geographic standpoint, which we believe mitigates downside revenue risk.

Our workforce solutions consist of on-demand or short-term staffing assignments, contract staffing, and on-site management administration.

Short-term staffing services assist employers in dealing with field talent demands caused by such factors as seasonality, fluctuations in client partner demand, vacations, illnesses, parental leave, and special projects without incurring the ongoing expense and administrative responsibilities associated with recruiting, hiring and retaining permanent field talent.

As more and more companies focus on effectively managing variable costs and reducing fixed overhead, the use of short-term workforce solutions allows companies to utilize a contingent staffing approach for their personnel needs, thereby converting a portion of their fixed personnel costs to a variable expense.

Our contract staffing services place field talent with client partners for time-periods of more than three months or for an indefinite time period.

This type of arrangement often involves outsourcing an entire department in a large corporation or providing the workforce for a large project.

Our workforce solutions consist of on-demand or short-term assignments, consulting services, and on-site management administration.

Short-term workforce solutions assist employers in dealing with field talent demands caused by such factors as seasonality, fluctuations in client partner demand, vacations, illnesses, parental leave, and special projects without incurring the ongoing expense and administrative responsibilities associated with recruiting, hiring and retaining permanent field talent.

As more and more companies focus on effectively managing variable costs and reducing fixed overhead, the use of short-term workforce solutions allows companies to utilize a contingent approach for their personnel needs, thereby converting a portion of their fixed personnel costs to a variable expense.

Our consulting workforce solutions place field talent with client partners for extended time-periods or for an indefinite time period.

This type of arrangement may involve outsourcing an entire department in a large corporation or providing the workforce for a large project.

In an on-site management arrangement, we place an experienced manager on-site at a client partner’s place of business.

The manager is responsible for conducting all recruiting, candidate screening, interviewing, drug testing, hiring and placement for field talent at the client partner’s facility for a long-term or indefinite period.

Management believes that the staffing industry and the field talent performing these workforce solutions are, and will remain, an integral part of the labor market in local, regional and national economies in which we operate.

BG Staffing, Inc.

Management believes that these solutions and the field talent performing these workforce solutions are, and will remain, an integral part of the labor market in local, regional and national economies in which we operate.

is the successor by conversion to LTN Staffing, LLC, a Delaware limited liability company that was formed on August 27, 2007.

2 unchanged sentences

The conversion was completed on November 3, 2013.

In 2021, we changed our name to BGSF, Inc.

We commenced operations on October 17, 2007 and since 2009 have began an on-going growth and diversification initiative.

Since 2010, we have acquired eleven businesses:

Since 2010, we have acquired twelve businesses:

• In June 2010, we purchased the interests of BG Personnel Services, LP and BG Personnel, LP, and purchased the common stock of B G Staff Services, Inc.

Shortly after the purchase, we relocated our home office to Dallas, Texas.

In December 2010, we purchased substantially all of the assets and assumed certain liabilities of JNA Staffing Inc., which specialized in providing temporary staffing services within the State of Wisconsin.

We operate under the BG Multifamily and BG Talent trade names.

• In December 2010, we purchased substantially all of the assets and assumed certain liabilities of JNA Staffing Inc., which specialized in providing light industrial workforce solutions within the State of Wisconsin.

These operations were rolled into our existing operations in Milwaukee, Wisconsin.

In December 2011, we purchased substantially all of the assets and assumed certain liabilities of Extrinsic, LLC, which specialized in providing information technology (“IT”) staffing services to client partners within the U.S.

• In December 2011, we purchased substantially all of the assets and assumed certain liabilities of Extrinsic, LLC, which specialized in providing information technology (“IT”) workforce solutions to client partners within the U.S.

We continue to operate under the Extrinsic trade name.

In December 2012, we acquired substantially all of the assets and assumed certain liabilities of American Partners, Inc., which specialized in providing IT staffing services to client partners within the U.S.

• In December 2012, we acquired substantially all of the assets and assumed certain liabilities of American Partners, Inc., which specialized in providing IT workforce solutions to client partners within the U.S.

We continue to operate under the American Partners trade name.

2 unchanged sentences

We continue to operate under the InStaff trade name.

In March 2015, we acquired substantially all of the assets and assumed certain liabilities of D&W Talent, LLC (“D&W”), which specialized in providing temporary and full-time staffing services of accounting and finance personnel and secretarial and administrative personnel to client partners in Texas and Louisiana.

• In March 2015, we acquired substantially all of the assets and assumed certain liabilities of D&W Talent, LLC (“D&W”), which specialized in providing part-time and full-time workforce solutions of accounting and finance personnel and secretarial and administrative personnel to client partners in Texas and Louisiana.

We continue to operate under the Donovan & Watkins trade name.

In October 2015, we acquired substantially all of the assets and assumed certain liabilities of Vision Technology Services, Inc., Vision Technology Services, LLC, and VTS-VM, LLC (collectively, “VTS”), which provided IT temporary staffing talent and project management services.

• In October 2015, we acquired substantially all of the assets and assumed certain liabilities of Vision Technology Services, Inc., Vision Technology Services, LLC, and VTS-VM, LLC (collectively, “VTS”), which provided IT workforce solutions and project management workforce solutions.

We continue to operate under the Vision Technology Services trade name.

• In April 2017, we acquired substantially all of the assets and assumed certain liabilities of Zycron, Inc.

(“Zycron”), which provided IT temporary staffing talent and project management services.

(“Zycron”), which provided IT workforce solutions and project management workforce solutions.

We continue to operate under the Zycron trade name.

• In September 2017, we acquired substantially all of the assets and assumed certain liabilities of Smart Resources Inc.

and Accountable Search, LLC (collectively, “Smart”), which specialized in providing temporary and full-time staffing services of accounting and finance personnel and secretarial and administrative personnel to client partners in Chicago market.

and Accountable Search, LLC (collectively, “Smart”), which specialized in providing part-time and full-time workforce solutions of accounting and finance personnel and secretarial and administrative personnel to client partners in Chicago market.

We continue to operate under the Accountable Search and Smart Resources trade names.

1 unchanged sentence

Kushner & Associates, L.L.C.

(“LJK”), which provided cybersecurity retained search services specializing in recruiting high and mid-level IT security professionals.

(“LJK”), which provided cybersecurity retained search workforce solutions specializing in recruiting high and mid-level IT security professionals.

We continue to operate under the L.J.

3 unchanged sentences

We continue to operate under the EdgeRock Technology Partners trade name.

We now operate through 83 branch offices and 15 on-site locations located across 43 states and D.C.

• In February 2021, we acquired substantially all of the assets and assumed certain liabilities of Momentum Solutionz LLC (the “Momentum Solutionz”), which provided IT consulting and managed workforce solutions for organizations utilizing ERP systems.

We continue to operate under the Momentum Solutionz trade name.

We now operate across 46 states and D.C., as well as 13 on-site locations.

We do not currently have any foreign operations.

The temporary staffing industry supplies field talent to client partners helping them minimize the cost and effort of workforce planning.

These services also enable the client partner to rapidly respond to changes in business conditions, and in some cases to convert fixed labor costs to variable costs.

Temporary staffing companies act as intermediaries in matching available field talent to client partner assignments.

The workforce solution industry supplies field talent to client partners helping them minimize the cost and effort of workforce planning.

These workforce solutions also enable the client partner to rapidly respond to changes in business conditions, and in some cases to convert fixed labor costs to variable costs.

Workforce solution companies act as intermediaries in matching available field talent to client partner assignments.

The demand for a flexible workforce continues to grow with competitive and economic pressures to reduce costs and respond to changing market conditions.

The temporary staffing market is subject to volatility based on overall economic conditions.

Historically, in periods of economic growth, the number of companies providing temporary staffing services has increased due to low barriers to entry.

The workforce solution market is subject to volatility based on overall economic conditions.

Historically, in periods of economic growth, the number of companies providing workforce solutions has increased due to low barriers to entry.

During recessionary periods, the number of companies has decreased through consolidation, bankruptcies, or other events.

The temporary staffing industry is experiencing increased demand in relation to total job growth as client partners have placed a greater priority on maintaining a more flexible workforce.

The temporary staffing industry is large and highly fragmented with approximately 20,000 competing companies, while only 154 firms exceeded $100 million in annual revenues in 2018 according to Staffing Industry Analysts ("SIA").

The workforce solution industry is experiencing increased demand in relation to total job growth as client partners have placed a greater priority on maintaining a more flexible workforce.

The workforce solution industry is large and highly fragmented with approximately 25,000 competing companies, while only 175 firms exceeded $100 million in annual revenues in 2019 according to Staffing Industry Analysts (“SIA”).

In September 2020, SIA estimated the 2021 U.S.

temporary staffing market will be an estimated $156 billion, which is up from an estimated $152 billion in 2019.

Staffing companies compete both to recruit and retain a supply of field talent and to attract and retain client partners to use these workers.

Client partner demand for temporary staffing services is dependent on the overall strength of the labor market and trends toward greater workforce flexibility.

The temporary staffing industry includes a number of markets focusing on business needs that vary widely in duration of assignment and level of technical specialization.

temporary service market will be an estimated $141.5 billion, which is up from an estimated $126.9 billion in 2020 due to COVID-19.

Workforce solution providers compete both to recruit and retain a supply of field talent and to attract and retain client partners to use these workers.

Client partner demand for workforce solutions is dependent on the overall strength of the labor market and trends toward greater workforce flexibility.

The workforce solution industry includes a number of markets focusing on business needs that vary widely in duration of assignment and level of technical specialization.

Our Operations

1 unchanged sentence

We refer to these segments as Real Estate, Professional, and Light Industrial.

We operate branches within each segment as separate profit centers and provide managers considerable operational autonomy and financial incentives.

Managers focus on business opportunities within their geographical markets and are provided centralized support to achieve success in those markets.

We operate separate profit centers within each segment and provide managers considerable operational autonomy and financial incentives.

Managers focus on business opportunities within their markets and are provided centralized support to achieve success in those markets.

We believe this structure allows us to recruit and retain highly motivated managers who have demonstrated the ability to succeed in a competitive environment.

This structure also allows managers and staff to focus on market development while relying on centralized services for support in back-office operations, such as risk management programs and unemployment insurance, credit, collections, accounting, advice on legal and regulatory matters, and quality standards.

This structure also allows managers and team members to focus on market development while relying on centralized services for support in back-office operations, such as risk management programs and unemployment insurance, credit, collections, accounting, advice on legal and regulatory matters, and quality standards.

Our operations are organized into three business segments:

2 unchanged sentences

Our Real Estate segment is a leading provider of office and maintenance field talent to various apartment communities and commercial buildings.

We currently have 56 branch offices in 29 states.

The Real Estate division utilizes a centralized recruiting model from recruiting centers in Dallas, Houston, and Austin, Texas, in Charlotte, North Carolina, and in Tampa, Florida.

All open positions nationally are recruited from one of these regional recruiting centers.

We currently operate in 36 states and D.C.

The Real Estate division utilizes Virtual Talent Acquisition Center (“TAC”) with team members located in various locations throughout the United States.

All open positions nationally are recruited from this TAC.

The field talent we assign to our Real Estate client partners are our field employees, although our client partners provide on-the-job direction, control and supervision.

Professional Segment

Our Professional segment provides highly skilled IT professionals with expertise in SAP, Workday, Olik View, Hyperion, Oracle, One Stream, cyber, project management and other IT workforce solutions to client partners on a national basis.

Our Professional segment provides highly skilled IT professionals with expertise in SAP, Workday, Peoplesoft, Hyperion, Oracle, One Stream, cyber, project management and other IT workforce solutions to client partners on a national basis.

Additionally, we provide finance, accounting, legal, human resource and related support personnel.

Our client partners include large Fortune 500 companies, medium and small companies, as well as consulting firms engaged in systems integration projects.

We operate our professional segment from our offices in North Carolina, Rhode Island, Maryland, Tennessee, Texas, Illinois and New Jersey.

In February 2020, we added Massachusetts, Arizona and Florida locations.

We operate our professional segment remotely and from our offices in Arizona, Florida, Illinois, Maryland, Massachusetts, New Jersey, North Carolina, Rhode Island, Tennessee, and Texas.

Light Industrial Segment

1 unchanged sentence

We currently have 11 branch offices and 13 on-site locations operating in 7 states.

Our Light Industrial segment field talent perform services in a variety of skilled and unskilled positions.

Our Light Industrial segment field talent perform workforce solutions in a variety of skilled and unskilled positions.

The field talent we assign to our Light Industrial client partners are our field talent, although our client partners provide on-the-job direction, control and supervision.

4 unchanged sentences

Our Client Partners

We currently service small and medium-sized companies as well as divisions of Fortune 500 companies.

As is common in the staffing industry, our engagements to provide workforce solutions to our client partners are generally of a non-exclusive, short-term nature and subject to termination by the client partner with little or no notice.

We currently provide workforce solutions to small and medium-sized companies as well as divisions of Fortune 500 companies.

As is common in the industry, our engagements to provide workforce solutions to our client partners are generally of a non-exclusive, short-term nature and subject to termination by the client partner with little or no notice.

No client partner accounted for more than 10% of our revenues in 2020, 2019, or 2018.

2 unchanged sentences

We use comprehensive methods to identify, assess, select and, when appropriate, measure the skills of our field talent and permanent placement candidates to meet the needs of our client partners.

We market our services to client partners, team members and field talent candidates via both national and local advertising activities.

We market our workforce solutions to client partners and field talent candidates via both national and local advertising activities.

A significant portion of our total marketing efforts comes from direct marketing via telephone solicitation.

Promotions consists of digital display, search engine marketing, social media, trade publications, job boards and events.

As well, reputation management is a promotional utility that serves as the first impression;

interactions on reviews, comments, posts, direct messages, etc.

give our followers a cursory notion of our values and business practices.

We market our hiring and career management advice through all digital platforms (websites, social media, and blogs) and have expanded our use of job boards and aggregators in all aspects of sales and recruitment.

1 unchanged sentence

We actively seek endorsements and affiliations with professional organizations in the accounting and finance, technology, apartment community, commercial building, creative and marketing fields.

To enhance public recognition of us and our services, we conduct public relations activities and team members and field talent are encouraged to be active in civic organizations and industry trade groups in their local communities.

To enhance public recognition of us and our workforce solutions, we conduct public relations activities and team members and field talent are encouraged to be active in civic organizations and industry trade groups in their local communities.

Growth Strategy

3 unchanged sentences

Additionally, we are committed to continue to grow our operations in our current markets, as well as expand into new markets within the segments and industries that we currently serve.

We are organized to handle many of the administrative functions at our home office location so that our branches can focus on business development and the effective recruiting and assignment of field talent.

We are organized to handle many of the administrative functions at our home office location so that our segment operations can focus on business development and the effective recruiting and assignment of field talent.

We continue to invest in technology and process improvements, as necessary, to ensure that we are operating at optimal productivity and performance.

1 unchanged sentence

These workstreams include front office, middle office, back office, modern workplace, IT infrastructure and project management.

To date we have spent $6.8 million of which $2.3 million is in our selling and administrative expense and we have been able to complete 14 projects across all of the workstreams.

There are currently 7 active projects, with several starting in 2021.

The workforce solutions market is highly competitive with limited barriers to entry.

We compete in national, regional and local markets with full-service and specialized temporary staffing companies.

We compete in national, regional and local markets with full-service and specialized workforce solution companies.

Some of our competitors have significantly more marketing and financial resources than we do.

Price competition in the staffing industry is intense.

Price competition in the industry is intense.

We expect that the level of competition will remain high, which could limit our ability to maintain or increase our market share or profitability.

2 unchanged sentences

Therefore, the speed at which we place prospective field talent and the availability of appropriate assignments are important factors in our ability to complete assignments of qualified field talent.

In addition to having high quality field talent to assign in a timely manner, the principal competitive factors in obtaining and retaining client partners in the temporary staffing industry are properly assessing the client partners’ specific job requirements, the appropriateness of the field talent assigned to the client partner, the price of services and the monitoring of client partner satisfaction.

In addition to having high quality field talent to assign in a timely manner, the principal competitive factors in obtaining and retaining client partners in the workforce solution industry are properly assessing the client partners’ specific job requirements, the appropriateness of the field talent assigned to the client partner, the price of services and the monitoring of client partner satisfaction.

Although we believe we compete favorably with respect to these factors, we expect competition to continue to increase.

Seasonality and Other Fluctuations

Our business experiences seasonal fluctuations.

Our quarterly operating results are affected by the number of billing days in a quarter, as well as the seasonality of our client partners’ business.

Demand for our Real Estate staffing services increase in the second and is highest during the third quarter of the year due to the increased turns in multifamily units during the summer months when schools are not in session.

Demand for our Light Industrial staffing services increases during the third quarter of the year and peaks in the fourth quarter due to increase in the demand for holiday help.

Overall first quarter demand can be affected by

adverse weather conditions in the winter months.

Demand for our Real Estate workforce solutions increase in the second quarter and is highest during the third quarter of the year due to the increased turns in multifamily units during the summer months when schools are not in session.

Demand for our Light Industrial workforce solutions increases during the third quarter of the year and peaks in the fourth quarter due to increase in the demand for holiday help.

Overall first quarter demand can be affected by adverse weather conditions in the winter months.

In addition, our cost of services typically increases in the first quarter primarily due to the reset of payroll taxes.

The staffing industry has historically been cyclical, often acting as an indicator of both economic downturns and upswings.

Staffing client partners tend to use contingent staffing to supplement their existing workforces and generally hire direct workers when long-term demand is expected to increase.

The industry has historically been cyclical, often acting as an indicator of both economic downturns and upswings.

Client partners tend to use contingent workforce solutions to supplement their existing workforce and generally hire direct workers when long-term demand is expected to increase.

As a consequence, our revenues tend to increase quickly when the economy begins to grow and, conversely, our revenues can also decrease quickly when the economy begins to weaken.

Team Members and Field Talent

As of February 5, 2020 , we had 430 team members (which are our full or part-time employees) at our home and branch offices.

During the fiscal year ended 2019 , we assigned approximately 29,000 field talent and had working, on average, approximately 4,500 field talent during the fourth quarter of 2019 .

None of our team members or field talent are represented by a labor union, and we are not aware of any current efforts or plans to organize any of our team members or field talent.

To date we have not experienced any material labor disruptions.

Historically, demand for permanent placement workforce solutions is even more sensitive to economic and labor market conditions than demand for workforce and consultant solutions and this is expected to continue.

Our business, results of operations, and financial condition have been, and may continue to be, adversely impacted in material respects by COVID-19 and by related government actions, non-governmental organization recommendations, and public perceptions, all of which have led and may continue to lead to disruption in global economic and labor markets.

These effects have had a significant impact on our business, including reduced demand for our workforce solutions, early terminations or reductions in projects, and hiring freezes, and a shift of a majority of our workforce to remote operations, all of which have contributed to a decline in revenues and other significant adverse impacts on our financial results.

Human Capital

We are a workforce solutions company dedicated to connecting people to work in ways that enrich their lives.

At BGSF, we define our purpose by championing the future of people, transforming lives, and positively impacting entire communities.

We are more than a transactional business.

Our focus is on the big picture.

We believe we can be a powerful force for good by connecting people to opportunities that enrich their lives and support their personal and professional development.

Embedded in our character is the positive energy we embrace that drives a happy work environment, that shapes a happy home, which cascades into happier communities.

We believe small actions can turn into big impacts, creating a ripple that becomes a wave powerful enough to change the world around us.

This is what we call The BG Ripple Effect.

In order to compete and succeed in our highly competitive and rapidly evolving markets, it is crucial that we attract and retain experienced internal team members, as well as talent to work for our client partners.

As part of these efforts, we strive to offer competitive total rewards programs, foster an inclusive and diverse environment, and give team members the opportunity to give back to their communities and make a social impact.

First and foremost, the success of our business is fundamentally connected to the well-being of our people.

Accordingly, we are committed to the health, safety and wellness of our team members and talent.

In response to the COVID-19 pandemic, we implemented significant operating environment changes that we determined were in the best interest of our team members and talent, as well as the communities in which we operate, and which comply with government regulations.

This includes having the vast majority of our internal team members work from home, while implementing additional safety measures for team members and talent continuing critical on-site work.

As of January 15, 2021, we employed approximately 400 team members working remotely or in our various market locations in the United States.

In addition to our team members, BGSF matches talent with our client partners.

In 2020, we placed approximately 21,500 individuals in positions with our client partners.

In significantly all of these instances, we remain the employer of record for substantially all of our talent working at our client partner locations.

This means that we retain responsibility for all assignments, wages, benefits, workers’ compensation insurance, and the employers’ share of applicable payroll taxes as well as the administration of the team members' share of these taxes.

We also offer our talent access to competitive health and benefit programs while they are working with us.

Compensation and Benefits

BGSF is committed to providing competitive, equitable and fiscally responsible total rewards programs to our team members.

Our compensation programs are designed to attract, retain and reward talented individuals who possess the skills necessary to achieve our strategic goals and create long-term value for our shareholders.

We provide team members with competitive compensation opportunities, with pay for performance opportunities that include a mix of base salary, commissions, short-term incentives and, in the case of our more senior team members, long-term equity awards.

We believe that our programs provide fair and competitive opportunities that align team member and shareholder interests.

In addition to cash and equity compensation, we also offer team members competitive benefits such as life and health (medical, dental and vision) insurance, paid time off including volunteer time off, wellness benefits, education/tuition reimbursement, a defined contribution retirement plan and in 2021 will offer an Employee Stock Purchase Plan.

Diversity, Equity, and Inclusion

We are committed to fostering an inclusive and diverse workforce.

Our responsibility commitment is overseen by executive leadership, along with board-level oversight led by our Nominating and Governance Committee.

In September 2020, we formed a diversity, equity and inclusion council called Voices Inspiring Inclusion, Belonging, and Equity (“VIIBE”), which now comprises more than 45 team members and represents broad perspectives across our organization.

VIIBE is chaired by our new Director of Diversity, Development and Learning appointment made in February 2021.

Later in the year, we expect to form team member resource groups to foster an environment of belonging and support team members’ efforts to maximize their potential.

The essential work of VIIBE has already begun with the development of foundational pillars of excellence that promote this philosophy.

We are focused on how we source, recruit, develop, appreciate, and leverage perspectives and experiences of underrepresented talent.

This focus will extend to our collaboration with client partners, selection of vendor partners, engagement in our communities and prioritization of overall work-life harmony.

Our commitment to diversity, equity and inclusion does not sit with a singular individual, but with every employee at BGSF.

BGSF leaders will be provided additional inclusive-leadership growth opportunities, understanding the importance of mitigating biases, as we shape our future talent pool selections, onboard new talent, and support future career trajectories.

On November 27, 2020, we employed approximately 5,000 people, of which 8% were internal team members and 92% were field talent supporting our client partners across the country.

• Women represented 39% of all employees, and underrepresented minorities (“URMs”, defined as those who identify as Black/African American, Hispanic/Latinx, Native American/Alaska Native, Asian, Native Hawaiian/Pacific Islander and/or two or more races) represented 72% of our all of our reporting employees (13% of employees in contingent roles chose not to disclose this information);

• Women represented 62% of our internal team members and 56% of internal team members in managerial and leadership roles;

• URMs represent 36% of our internal team members and 21% of internal team members in managerial and leadership roles identified as URMs.

Our focus is to ensure BGSF is cultivating equality and equity, while recognizing and celebrating our differences at work, in our homes, and out in the communities.

Community Involvement

We consider sustainability to be a guiding principle in strengthening the relationship with our workforce, vendor partners and client partners.

Through our programs and initiatives, we seek to contribute to improving the quality of life of our team members, their families, as well as the communities in which they operate.

Designed on the concept of social investment, our approach ensures the creation of future development capacities instead of aiding on isolated occasions.

Supporting our communities has always been an important part of how we uphold our company values.

To this end, we support volunteerism through two paid days so team members can serve their charity, cause or not-for-profit organization of choice.

For 2020, our team members supported several causes of personal importance, such as Breast Cancer Awareness, Autism, Make-A-Wish Foundation, various domestic violence groups, American Heart Association, Dress for Success, United Way, and Chefs Across America, supporting restaurants and food insecurity during COVID-19.

We also launched Philanthropy Cloud to fully empower team member-driven giving by accessing a global network of opportunities to donate, volunteer and advocate for any cause.

Team Engagement

As part of the BGSF initiative to provide its team members with feedback opportunities, in 2020, we conducted several surveys to understand team member needs and support team members both prior to and, more importantly, during the pandemic.

The survey results were analyzed and reviewed by our senior leadership.

The results of this engagement survey were shared with individual managers, who were then tasked with taking action based on their team members’ confidential feedback (both quantitative and qualitative).

By paying close attention to the results both at an aggregate enterprise level as well as at a department/business/workgroup level, we have been able to enhance our culture of rewards and recognition, drive efforts to promote inclusion and diversity, increase communication in support of team member well-being and modernize our approach to foster a culture of continuous learning and feedback.

We are also nearing the rollout of a social recognition platform to align awards and recognition to our BGSF values.

Learning and Development

We emphasize team member development and learning as a priority for the organization.

We believe learning and development are key elements to overall retention, engagement, and team member experience strategy.

This direction is led by our new Director of Diversity, Development and Learning appointment made in February 2021.

Our strategy is designed to empower team members to reach their full potential, and we provide a wide range of development programs, opportunities, and resources needed to be successful.

As we move towards the creation of the BGSF University, our goal is to provide a variety of learning channels including instructor-led, facilitated custom workshops, leader-led, cohort and mentorships, self-paced, e-learning and a catalog of vendor-provided courses, videos, resources, and books.

We are committed to the organization's overall health and providing career progression by providing individual development, readiness, and transition plans as a part of our talent review and succession planning process.

Intellectual Property

We own or have rights to various copyrights, trademarks, service marks, trade names and domain names used in our business, including, but not limited to, BG Staffing, BG Staffing Group, BG Personnel Services, Extrinsic, American Partners, InStaff, BG Temporary Staffing, BG Multifamily, BG Talent, Triance, Donovan & Watkins, D&W Talent, Vision Technology Services, Zycron, Smart Resources, Accountable Search, L.J.

Kushner & Associates, EdgeRock, EdgeRock Technology Partners, EdgeRock Technology Partners & Design, bgstaffing.com, bgstaffinggroup.com, bgpersonnel.com, bgpersonnel.net, bgstaffing.net, bgcompanies.net, bgmail.com, ltnstaffing.com, milwaukeetemps.com, milwaukeetmepsinc.com, extrinsicllc.com, extrinsicgroup.com, extrinsicresources.com, jnastaffing.com, therightpeoplerightnow.com, rightpeoplerightnow.com, americanpartnersinc.com, instaff.com, donwat.com, vistechs.com, zycron.com, smartstaffing.com, accountablesearch.com, executiveassistantsearch.com, ljkushner.com, edgerock.com, edgerock.net, edgerockblue.com, edgerockcares.com, edgerockcares.net, edgerockconsultants.com, edgerockit.com, edgerockpartners.com, edgerockperm.com, edgerockred.com, edgerocksearch.com, edgerocksolutions.com, edgerockstaffing.com, edgerocktech.com, edgerocktech.net, edgerocktechnologies.com, etphome.com, joinedgerock.com, and myedgerock.com.

We own or have rights to various copyrights, trademarks, service marks, trade names and domain names used in our business, including, but not limited to, BGSF, BG Staffing, BG Staffing Group, BG Personnel Services, Extrinsic, American Partners, InStaff, BG Temporary Staffing, BG Multifamily, BG Talent, Triance, Donovan & Watkins, D&W Talent, Vision Technology Services, Zycron, Smart Resources, Accountable Search, L.J.

Kushner & Associates, EdgeRock, EdgeRock Technology Partners, EdgeRock Technology Partners & Design, Momentum Solutionz, Creative Data Solutions, bgsf.com, bgstaffing.com, bgstaffinggroup.com, bgpersonnel.com, bgpersonnel.net, bgstaffing.net, bgcompanies.net, bgmail.com, ltnstaffing.com, milwaukeetemps.com, milwaukeetmepsinc.com, extrinsicllc.com, extrinsicgroup.com, extrinsicresources.com, jnastaffing.com, therightpeoplerightnow.com, rightpeoplerightnow.com, americanpartnersinc.com, instaff.com, donwat.com, vistechs.com, zycron.com, smartstaffing.com, accountablesearch.com, executiveassistantsearch.com, ljkushner.com, edgerock.com, edgerock.net, edgerockblue.com, edgerockcares.com, edgerockcares.net, edgerockconsultants.com, edgerockit.com, edgerockpartners.com, edgerockperm.com, edgerockred.com, edgerocksearch.com, edgerocksolutions.com, edgerockstaffing.com, edgerocktech.com, edgerocktech.net, edgerocktechnologies.com, etphome.com, joinedgerock.com, myedgerock.com, and momentumsolutionz.com.

Our trade names are valuable assets that reinforce the distinctiveness of our brands.

6 unchanged sentences

Available Information

We file electronically with the SEC, our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and amendments to those reports pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended.

Our website address is www.bgstaffing.com.

We file electronically with the SEC our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and amendments to those reports pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended.

Our website address is www.bgsf.com.

The information included on our website is not included as a part of, or incorporated by reference into, this Annual Report on Form 10-K.

1 unchanged sentence

The SEC maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC at www.sec.gov.

Furthermore, we will provide electronic or paper copies of filings free of charge upon written request to our Chief Financial Officer.

Furthermore, we will provide electronic or paper copies of filings free of charge upon written request to our Corporate Secretary.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business