What changed in this filing

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Item 1. Business

2020-07-27 compared with 2019-07-19 · 120 added, 130 removed, 102 unchanged (71% of the section changed)

RGP is a global consulting firm that enables rapid business outcomes by bringing together the right people to create transformative change.

As a human capital partner for our clients, we specialize in solving today’s most pressing business problems across the enterprise in the areas of Business Transformation, Governance, Risk and Compliance and Technology and Digital Innovation.

As a human capital partner for our clients, we specialize in solving today’s most pressing business problems across the enterprise in the areas of transactions, regulations, and transformations.

Our engagements are designed to leverage human connection and collaboration to deliver practical solutions and more impactful results that power our clients, consultants and partners’

RGP was founded in 1996 to help finance executives with operational needs and special projects created by workforce gaps.

Our first-to-market, agile human capital model disrupted the professional services industry at a time when traditional talent models prevailed.

Today’s new ecosystem for work embraces our founding principle –

quickly align the right resource s for the work at hand with a premium placed on value, efficiency and ease of use.

RGP was founded in 1996 to help finance executives with operational needs and special projects.

Headquartered in Irvine, California, RGP is proud to have served 88 of the Fortune 100 as of July 2020.

Our agile human capital model quickly aligns the right resources for the work at hand with speed and efficiency .

Our pioneering approach to workforce strategy uniquely positions us to support our clients on their transformation journeys.

With more than 3,8 00 professionals, we annually engage with over 2,400 clients around the world from more than 70 practice offices.

We are their partner in delivering on the f uture of w ork.

Headquartered in Irvine, California, RGP is proud to have served 86 of the Fortune 100.

I ndustry Background

With more than 3,400 professionals, we annually engage with over 2,400 clients around the world.

Industry Background and Trends

Changing Market for Project- or Initiative-Based Professional Services

RGP’s services respond to a growing marketplace trend:

namely, corporate clients are increasingly choosing to plan for their workforce needs in more flexible ways.

We believe the growing trend in the f uture of w ork will be project-based and not role based.

Permanent headcount is being reduced as clients purposely engage agile talent for project initiatives and transformation work.

While the market for professional services is broad and fragmented and independent data on the size of the market is not readily available, we believe companies may be more willing to choose alternatives to permanent headcount and traditional professional service providers because of evolving economic competitive pressure and continuing compliance with increases in government-led regulatory requirements.

We believe RGP is positioned as a viable alternative to traditional accounting, consulting and law firms in numerous instances because, by using project consultants, companies can:

Strategically access specialized skills, expertise for projects of set duration

namely, corporate clients are increasingly choosing to address their workforce needs in more flexible ways.

We believe this growing shift in workforce strategy towards a project-based orientation might also be accelerated by the COVID-19 pandemic with an enhanced emphasis on business agility.

Permanent professional personnel positions are being reduced as clients engage agile talent for project initiatives and transformation work.

Companies use a mix of alternative resources to execute on projects.

Some companies rely solely on their own employees who may lack the requisite time, experience or skills for specific projects.

They may outsource entire projects to consulting firms, which provides them access to the expertise of the firm but often entails significant cost and less management control of the project.

As a more cost-efficient alternative, companies sometimes use temporary employees from traditional and Internet-based staffing firms, although these employees may be less experienced or less qualified than employees from professional services firms.

Finally, companies can supplement their internal resources with employees from agile consulting or other traditional professional services firms, like RGP.

The use of project consultants as a viable alternative to traditional accounting, consulting and law firms allows companies to:

Strategically access specialized skills and expertise for projects of set duration

Access the very best talent across regions and geographies

Be nimble and mobilize quickly

Blend independent and fresh points of view

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Increase labor flexibility

Reduce their overall hiring, training and termination costs

Typically, companies use a variety of alternatives to fill their project needs.

Companies outsource entire projects to consulting firms, which provides them access to the expertise of the firm but often entails significant cost and less management control of the project.

Companies also supplement their internal resources with employees from the Big Four accounting firms or other traditional professional services firms.

Companies use temporary employees from traditional and Internet-based staffing firms, although these employees may be less experienced or less qualified than employees from professional services firms.

Finally, some companies rely solely on their own employees who may lack the requisite time, experience or skills.

Reduce overall hiring, training and termination costs

Supply of Project Consultants

Based on discussions with our consultants, we believe the number of professionals seeking to work on an agile basis has historically increased due to a desire for:

More flexible hours and work arrangements, coupled with a professional culture that offers competitive wages and benefits

The ability to learn and contribute in different environments

Based on discussions with our consultants, we believe the number of professionals seeking to work on an agile basis has been increasing due to a desire for:

More flexible hours and work arrangements, including working from home options, coupled with an evolving professional culture that offers competitive wages and benefits

The ability to learn and contribute in different environments and collaborate with diverse team members

Challenging engagements that advance their careers, develop their skills and add to their experience base

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A professional working for a Big Four firm or a consulting firm may receive challenging assignments and training;

however , may encounter a career path with less choice and less flexible hours, extensive travel and limited control over work engagements.

however, he or she may encounter a career path with less choice and less flexible hours, extensive travel and limited control over work engagements.

Alternatively, a professional who works as an independent contractor faces the ongoing task of sourcing assignments and significant administrative burdens, including potential tax and legal issues.

Resources Global Professionals’

We believe RGP is positioned to capitalize on the confluence of the industry trends described above.

We believe, based on discussions with our clients, that RGP provides the agility companies desire in today’s competitive and quickly evolving environment.

We are able to combine all of the following:

A relationship-oriented and collaborative approach with our clients

A professional dedicated talent acquisition and management team who excel at developing a project-based workforce

Client service teams with Big Four, consulting and/or industry backgrounds to assess our clients’

RGP’s Solution

We believe RGP is ideally positioned to capitalize on the confluence of the industry shifts described above.

We believe, based on discussions with our clients, that RGP provides the agility companies desire in today’s highly competitive and quickly evolving business environment.

Our solution offers the following elements:

A relationship-oriented and collaborative approach to client service

A professional dedicated talent acquisition and management team adept at developing, managing and deploying a project-based workforce

Deep functional and/or technical experts who can assess clients’

project needs and customize solutions to meet those needs

Highly qualified consultants with the requisite expertise, experience and points of view

Highly qualified and pedigreed consultants with the requisite expertise, experience and points of view

Competitive rates on an hourly, rather than project, basis

Significant client control of their projects with effective knowledge transfer and change management

Resources Global Professionals’

RGP’s Strategic Priorities

Our Business Strategy

We are dedicated to serving our clients with highly qualified and experienced talent in support of projects and initiatives in a broad array of functional areas, including:

Business strategy and transformation

Program and project management

Change management

Transaction advisory

Executive search

Human resources

Finance and accounting

Lease accounting

Revenue recognition

Financial operations

Equity administration and accounting

Risk and compliance

Information security and privacy

Integration and divestitures

Bankruptcy/restructuring

IPO readiness and support

Financial process optimization

System implementation

Accounting regulations

Internal audit and compliance

Operational risk management

Technology and digital.

Business technology

Data analytics

Robotics process automation

Our objective is to build RGP’s reputation as the premier provider of agile consulting services for companies facing transformation, change and compliance challenges.

Data privacy and security

Healthcare compliance

Regulatory compliance

Transformations

Finance transformation

Digital transformation

Supply chain management

Cloud migration

Data design and analytics

Our objective is to build RGP’s reputation as the premier provider of agile human capital solutions for companies facing transformation, change and compliance challenges.

We have developed the following business strategies to achieve our objectives:

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We believe our highly qualified, experienced consultants provide us with a distinct competitive advantage.

Therefore, one of our priorities is to continue to attract and retain high-caliber consultants who are committed to solving problems.

We believe we have been successful in attracting and retaining qualified professionals by providing challenging work assignments, competitive compensation and benefits, and continuing professional development and learning opportunities, while offering flexible work schedules and more control over choosing client engagements.

Therefore, one of our priorities is to continue to attract and retain high-caliber consultants who are committed to serving clients and solving their problems.

We believe we have been successful in attracting and retaining qualified professionals by providing challenging work assignments, competitive compensation and benefits, and continuing professional development and learning opportunities as well as membership to an exclusive community of likeminded professionals, while offering flexible work schedules and more control over choosing client engagements.

Maintain our distinctive culture.

Our corporate culture is the foundation of our business strategy and we believe it has been a significant component of our success.

Our senior management, virtually all of whom are Big Four, management consulting and/or Fortune 500 alumni, has created a culture that combines the commitment to quality and the client service focus of a Big Four firm with

the entrepreneurial energy of an innovative , high-growth company.

Our culture continues to evolve to meet the new challenges facing consultants, clients and management and so our original acronym “TIEL”

(talent, integrity, enthusiasm and loyalty), representing the traits expected of our people, has evolved.

In today’s marketplace, we believe that focus and accountability are key traits that help to strengthen our team and support our ability to provide clients with high-quality services and solutions.

Thus, our culture has evolved to “LIFE AT RGP”, representing Loyalty, Integrity, Focus, Enthusiasm, Accountability and Talent.

We believe our culture has created a circle of quality;

Our senior management team, the majority of whom are Big Four, management consulting and/or Fortune 500 alumni, has created a culture that combines the commitment to quality and client service focus of a Big Four firm with the entrepreneurial energy of an innovative , high-growth company.

We believe our shared values, embodied in “LIFE AT RGP”, representing Loyalty, Integrity, Focus, Enthusiasm, Accountability and Talent, has created a circle of quality.

Our Power of Human

(pH) Competencies also bring the opportunity to help our people develop new mindsets, behaviors and actions that not only allow them to be successful in their current roles, but also empower them to take on new opportunities and challenges.

Our culture is instrumental to our success in hiring and retaining highly qualified employees who, in turn, attract quality clients.

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We believe the professional services experience of our management and consultants enables us to understand the needs of our clients and deliver an integrated, relationship-based approach to meeting those needs.

Client relationships and needs are addressed from a client, not office, perspective.

We regularly meet with our existing and prospective clients to understand their business issues and help them define their project needs.

Once our revenue team helps define the client’s project needs, our talent team identifies consultants with the appropriate skills and experience to meet the client’s objectives.

Client relationships and needs are addressed from a client, not geographic, perspective.

Our revenue team regularly meets with our existing and prospective clients to understand their business issues and help them define their project needs.

Our talent team then identifies consultants with the appropriate skills and experience to meet the client’s objectives.

We believe that by establishing relationships with our clients to solve their professional service needs, we are more likely to identify new opportunities to serve them.

The strength and depth of our client relationships is demonstrated by two key statistics:

1) during fiscal 201 9 , 46 of our 50 largest clients in terms of revenue engaged our consultants in more than one practice area and 40 of those largest 50 clients used three or more practice areas;

and 2) 44 of our largest 50 clients in fiscal 2013 remained clients in fiscal 2019 while 38 of our largest 50 clients in 2008 were still clients in 2019.

The strength and depth of our client relationships is demonstrated by the approximately 80% retention rate of our top 100 clients over the last five years.

Build the RGP brand.

Our objective is to build RGP’s reputation as the premier provider of agile consulting services for companies facing transformation, change and compliance challenges.

Our objective is to build RGP’s reputation in the marketplace as the premier provider of agile human capital solutions for companies facing transformation, change and compliance challenges.

We want to be the preferred provider in the future of work.

Our primary means of building our brand is by consistently providing high-quality, value-added services to our clients.

We have also focused on building a significant referral network through our 2 , 965 consultants and 9 31 management and administrative employees working from offices in 2 0 countries as of May 25, 2019 .

In addition, we have global, regional and local marketing efforts that reinforce the RGP brand.

Our primary means of building our brand continues to be the consistent and reliable delivery of high-quality, value-added services to our clients.

We have also built a significant referral network through our 2,495 consultants and 938 management and administrative employees as of May 30, 2020.

In addition, we have invested in global, regional and local marketing and brand activation efforts that reinforce the RGP brand.

Our Growth Strategy

Since inception, our growth has been primarily organic rather than via acquisition.

We believe we have significant opportunity for continued organic growth in our core business and also to grow opportunistically through strategic acquisitions as the global economy strengthens and economic uncertainties decrease.

Since inception, our growth has been primarily organic with certain strategic acquisitions along the way that supplemented our physical presence or solution offerings.

We believe we have significant opportunity for continued organic growth in our core business and also to grow opportunistically through strategic and highly targeted acquisitions as the global economy starts to recover.

In both our core and acquired businesses, key elements of our growth strategy include:

Expanding work from existing clients.

Increased penetration of existing client base.

A principal component of our strategy is to secure additional work from the clients we have served.

We believe, based on discussions with our clients, the amount of revenue we currently receive from many of our clients represents a relatively small percentage of the amount they spend on professional services, and, consistent with historic industry trends, they may continue to increase the amount they spend on these services as the global economy evolves.

We believe, based on discussions with our clients, the amount of revenue we currently generate from many of our clients represents a relatively small percentage of the total amount they spend on professional services.

Consistent with current industry trends, we believe our clients may also continue to increase that spend as the global economy recovers and evolves.

We believe that by continuing to deliver high-quality services and by further developing our relationships with our clients, we can capture a significantly larger share of our clients’

expenditures for professional services.

professional services budgets.

Near the end of fiscal 2017, we launched our Strategic Client Program to serve a number of our largest clients with dedicated global account teams.

We believe this focus enhances our opportunity to develop in-depth knowledge of these clients’

We believe this focus enhances our opportunities to develop in-depth knowledge of these clients’

needs and the ability to increase the scope and size of projects with those clients.

Growing our client base.

We will continue to focus on attracting new clients.

We continue to focus on attracting new clients.

We strive to develop new client relationships primarily by leveraging the significant contact networks of our management and consultants and through referrals from existing clients.

We believe we can continue to attract new clients by building our brand name and reputation, supplemented by our global, regional and local marketing efforts.

We believe we can continue to attract new clients by building our brand identity and reputation, supplemented by our global, regional and local marketing efforts.

We anticipate our growth efforts this year will focus on identifying strategic target accounts especially in the large and middle market client segments.

Expanding geographically.

We have expanded geographically to meet the demand for agile professional services around the world and currently have offices in 2 0 countries.

We believe, based upon our clients’

requests, there are future opportunities to promote growth globally.

Consequently, we intend to continue to expand our international presence on a strategic and opportunistic basis.

We may also add to our existing domestic office network when our existing clients have a need or if there is a significant new client opportunity.

Strategic acquisitions .

Since fiscal 2009, we grew organically , as we had not identified a target acquisition that fit one of our primary acquisition goals:

either addressing an identified gap in our geographic presence or in our solution offerings.

In fiscal 2018, we identified and acquired - taskforce , Management on Demand AG (“

Our acquisition strategy is to engage in targeted M&A efforts that are designed to enhance our digital transformation and technology consulting capabilities.

In fiscal 2018, we acquired taskforce , Management on Demand AG (“

taskforce ”) and substantially all of the assets and assumption of certain liabilities of Accretive Solutions, Inc.

(“Accretive”).

The acquisition s of taskforce and Accretive satisfied the need to better penetrate the vibrant economic market in Germany and gaps in serving middle market companies in the United States, respectively, while also harmonizing well with RGP’s culture.

The acquisitions of taskforce and Accretive satisfied the need to better penetrate the vibrant economic market in Germany and gaps in serving middle market companies in the United States, respectively, while also harmonizing well with RGP’s culture.

In fiscal 2020, we acquired Veracity Consulting Group, LLC (“Veracity”) and Expertforce Interim GmbH, LLC (“Expertence”).

The acquisition of Veracity accelerated our stated object to enhance our digital capabilities and our ability to offer comprehensive digital innovation services.

With the acquisition of Expertence, we are able to offer a full range of project and management consulting services in the German market.

Providing additional professional service offerings.

We will continue to develop and consider entry into new professional service offerings.

information management;

governance, risk and compliance;

supply chain management;

legal and regulatory services;

and corporate advisory, strategic communications and restructuring services.

In fiscal 2017, we formed our Integrated Solutions group to identify project opportunities that we can market at an enterprise level with talent, tools and methodologies.

We continue to develop and consider entry into new professional service offerings.

Since our founding, we have diversified our professional service offerings from a primary focus on accounting and finance to other areas in which our clients have significant needs such as integration and divestitures, bankruptcy and restructuring, financial process optimization, accounting regulations, internal audit and compliance, healthcare compliance, finance transformation, digital transformation, and data design and analytics .

In fiscal 2017, we formed our Advisory and Project Services group (formerly known as “Integrated Solutions”) to identify project opportunities we can market at a broader level with our talent, tools and methodologies.

This group commercializes projects into solution offerings.

Currently, our solutions practice is focused on business technology, data analytics and robotic process automation .

Currently, our solutions practice is focused on finance transformation, digital transformation, data design and analytics, and system implementation .

When evaluating new solutions offerings to market to current and prospective clients, we consider (among other things) cultural fit, growth potential, profitability, cross-marketing opportunities and competition .

We believe an important component of our success has been our highly qualified and experienced consultants.

COVID-19 Impact

Starting in January 2020, the outbreak of COVID-19 (the “Pandemic”) has severely impacted the global economic climate, creating significant challenges and uncertainty in the operations of organizations around the world.

We are closely monitoring the impact of the Pandemic on all aspects of our business, including how it impacts our employees and client engagements.

While the extent to which our operations may be impacted by the Pandemic is still uncertain and depends largely on future developments, we believe the Pandemic adversely impacted our operating results in the second half of fiscal 2020 and expect the impact is going to continue into fiscal 2021.

As further described in Management’s Discussion and Analysis of Financial Condition and Results of Operations below, we initiated our strategic business review in North America and Asia Pacific ahead of the Pandemic, and carried out a reduction in force in early March.

We have substantially completed the restructuring initiatives in these markets in fiscal 2020.

We believe these actions have enabled us to operate with greater agility as we seek to ensure our organizational health and resilience, and weather the challenges associated with the Pandemic.

We believe an important component of our success has been our highly qualified and experienced consultant base.

As of May 30, 2020, we employed or contracted 2,495 consultants engaged with clients.

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Typically, a consultant must work a threshold number of hours to be eligible for all of these benefits.

In addition, we offer our consultants the ability to participate in the Company’s Employee Stock Purchase Plan (“ESPP”), which enables them to purchase shares of the Company’s stock at a discount.

In addition, we offer our consultants the ability to participate in our Employee Stock Purchase Plan (“ESPP”), which enables them to purchase shares of our stock at a discount.

We intend to maintain competitive compensation and benefit programs.

To a much lesser extent, we utilize a “bench model”

for consultants with specialized in-demand skills and experience.

for consultants with specialized in-demand skills and experience in our Advisory and Project Services group.

These consultants are paid a weekly salary rather than for each consulting hour worked and have bonus eligibility based upon utilization.

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Independent contractor arrangements are more common abroad than in the United States due to the labor laws, tax regulations and customs of the international markets we serve.

A few international practices also utilize the partial “bench model”

A few international practices also partially utilize the “bench model”

described above.

We provide our services and solutions to a diverse client base in a broad range of industries.

In fiscal 201 9 , we served over 2,400 clients from offices located in 2 0 countries.

In fiscal 2020, we served over 2,400 clients in 37 countries.

Our revenues are not concentrated with any particular client.

No single customer accounted for more than 10% of revenue for the 2019, 2018 an 2017 fiscal years, and in fiscal 2019, our 10 largest clients accounted for approximately 15% of our revenues.

We generally provide our professional services to clients at a local level, with the oversight of our market vice presidents and consultation of our corporate management team.

The vice presidents and client development directors in each market are responsible for initiating client relationships, ensuring client satisfaction throughout engagements, coordinating services for clients on a national and international platform and maintaining client relationships post-engagement.

Throughout this process, the corporate management team and regional vice presidents are available to consult with the vice presidents with respect to client services.

No single customer accounted for more than 10% of revenue for the 2020, 2019 or 2018 fiscal years.

In fiscal 2020, our 10 largest clients accounted for approximately 16% of our revenues.

We generally provide our professional services to clients at a local level, with the oversight of our market leaders and consultation of our corporate management team.

The market leaders and client development directors in each market are responsible for initiating client relationships, ensuring client satisfaction throughout engagements, coordinating services for clients on a national and international platform and maintaining client relationships post-engagement.

Market revenue leadership and their teams identify, develop and close new and existing client opportunities, often working in a coordinated effort with other markets on multi-national/multi-location proposals.

Market revenue leadership works closely with our regionalized talent management team, who are responsible for identifying, hiring and cultivating a sustainable relationship with seasoned professionals fitting the RGP profile of client needs.

Our consultant recruiting efforts are regionally or nationally based, depending upon the skill set required;

Market level leadership works closely with our regionalized talent management team, who are responsible for identifying, hiring and cultivating a sustainable relationship with seasoned professionals fitting the RGP profile of client needs.

Our consultant recruiting efforts are regionally and nationally based, depending upon the skill set required;

talent management handles both the identification and hiring of consultants specifically skilled to perform client projects as well as monitoring the satisfaction of consultants during and post-completion of assignments.

Talent focuses on getting the right talent in the right place at the right time.

We believe a substantial portion of the buying decisions made by our clients are made on a local or regional basis and that our offices most often compete with other professional services providers on a local or regional basis.

As the marketplace for professional services has evolved, we continue to believe our local market leaders are in the best position to understand the local and regional outsourced professional services market.

However, the complexity of relationships with many of our multinational clients also dictates that in some circumstances a hybrid model, bringing the best of both locally driven relationships as well as global focus, is important for employee and client satisfaction.

For projects requiring intimate knowledge and thought leadership on particular client concerns, our integrated solutions group consists of individuals with requisite skills and tools to work with clients.

We believe our ability to deliver professional services successfully to clients is dependent on our leaders in the field working together as a collegial and collaborative team, often working jointly on client projects.

To build a sense of team effort and increase camaraderie among our leaders, we have a program for field personnel that awards annual incentives based on specific agreed-to goals focused on the performance of the individual and potential reward tied to the performance of the Company.

The talent teams focus on getting the right talent in the right place at the right time.

We believe a substantial portion of the buying decisions made by our clients are made on a local or regional basis and our offices most often compete with other professional services providers on a local or regional basis.

We continue to believe our local market leaders are well-positioned to understand the local and regional outsourced professional services market.

Additionally, the complexity of relationships with many of our multinational clients also dictates that in some circumstances a hybrid model, bringing the best of both locally driven relationships as well as global focus and delivery , is important for employee and client satisfaction.

Through o ur Borderless Talent I n itiative , which we are in the process of implementing, we are seeking to capitalize on our multinational clients’

needs for a service provider that can partner with them on a global basis by organizing the concerted effort and talent team on a global basis to serve these clients through one integrated service platform.

For projects requiring intimate knowledge and thought leadership on particular client concerns, our Advisory and Project Services group consists of individuals with requisite depth of expertise and tools to work with clients.

We believe our ability to deliver professional services successfully to clients is dependent on our leaders in the field working together as a collegial and collaborative team.

To build a sense of team spirit and increase camaraderie among our leaders, we have a program for field personnel that awards annual incentives based on specific agreed-to goals focused on the performance of the individual and performance of the Company.

We also share across the Company the best and most effective practices of our highest achieving offices and use this as an introductory tool with new vice presidents and directors.

New leadership also spend time in other markets, partnering with experienced sales and recruiting personnel to understand, among many skills, how best to serve current clients, expand our presence with prospects and identify and recruit highly qualified consultants.

This allows the veteran leadership to share their success stories, foster the culture of the Company with new vice presidents and directors and review specific client and consultant development programs.

New leadership also spends time in other markets or otherwise partners with experienced sales and recruiting personnel in those markets to understand, among many skills, how best to serve current clients, expand our presence with prospects and identify and recruit highly qualified consultants.

This allows the veteran leadership to share their success stories, foster our culture with new vice presidents and directors and review specific client and consultant development programs.

We believe these team-based practices enable us to better serve clients who prefer a centrally organized service approach.

From our corporate headquarters in Irvine, California, we provide centralized administrative, marketing, finance, HR, IT, legal and real estate support.

From our corporate headquarters in Irvine, California, we provide centralized administrative, marketing, finance, human resources (“HR”), information technology (“IT”), legal and real estate support.

Our financial reporting is also centralized in our corporate service center.

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In addition, in North America, we have a corporate networked IT platform with centralized financial reporting capabilities and a front office client management system.

These centralized functions minimize the administrative burdens on our office management and allow them to spend more time focused on client and consultant development.

These centralized functions minimize the administrative burdens on our office management and allow them to spend more time focusing on client and consultant development.

Business Development

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These business development professionals, teamed with the vice-presidents and client service teams, are responsible for initiating and fostering relationships with the senior management and decision makers of our targeted client companies.

During fiscal 2018, we completed our implementation of software from Salesforce.com on a world-wide basis, to serve as a tool to enhance our local and worldwide business development efforts.

We believe our national marketing efforts have been effective in generating incremental revenues from existing clients and developing new client relationships.

Our brand marketing initiatives help develop RGP’s image in the markets we serve.

During fiscal 2018, we completed our implementation of software from Salesforce.com on a world-wide basis to enhance our local and worldwide business development efforts.

We believe our national marketing efforts have effectively generated incremental revenues from existing clients and developed new client relationships.

Our brand marketing initiatives help bolster RGP’s reputation in the markets we serve.

Our brand is reinforced by our professionally designed website, print, and online advertising, direct marketing, seminars, initiative-oriented brochures, social media and public relations efforts.

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the in-house or former in-house resources of our clients

We compete for clients on the basis of the quality of professionals, the knowledge base they possess, the timely availability of professionals with requisite skills, the scope and price of services, and the geographic reach of services.

We believe our attractive value proposition, consisting of our highly qualified consultants, relationship-oriented approach and professional culture, enables us to differentiate ourselves from our competitors.

Although we believe we compete favorably with our competitors, many of our competitors have significantly greater financial resources, generate greater revenues and have greater name recognition than we do.

We compete for clients on the basis of the quality of professionals we bring to our clients, the knowledge base they possess, our ability to mobilize the right talent quickly, the scope and price of services, and the geographic reach of services.

We believe our attractive value proposition, consisting of our highly qualified consultants, relationship-oriented approach and professional culture, enables us to compete effectively in the marketplace.

As of May 30, 2020, we had 3,433 employees, including 938 management and administrative employees and 2,495 consultants.

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Available Information

The Company’s principal executive offices are located at 17101 Armstrong Avenue, Irvine, California 92614.

The Company’s telephone number is (714) 430-6400 and its website address is http://www.rgp.com.

Our principal executive offices are located at 17101 Armstrong Avenue, Irvine, California 92614.

Our telephone number is (714) 430-6400 and our website address is http://www.rgp.com.

The information set forth in the website does not constitute part of this Annual Report on Form 10-K.

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These reports are maintained on the SEC’s website at http://www.sec.gov.

A free copy of our annual reports on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K and amendments to those reports may also be obtained on our website at http://www.rgp.com as soon as reasonably practicable after we file such reports with the SEC.

A copy of our annual reports on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K and amendments to those reports may also be obtained free of charge on the Investor Relations page of our website at http://www.ir.rgp.com as soon as reasonably practicable after we file such reports with the SEC.

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