−Removed: Resources Global Professionals (“RGP”) is a global consulting firm focused on project execution services that power clients’ operational needs and change initiatives utilizing on-demand, experienced and diverse talent.
+Added: Resources Global Professionals (“RGP”) is a global consulting firm based in Irvine, California (with offices worldwide) focused on delivering consulting services that power clients’ operational needs and change initiatives utilizing a combination of bench and on-demand, expert and diverse talent.
As a next-generation human capital partner for our clients, we specialize in co-delivery of enterprise initiatives typically precipitated by business transformation, strategic transactions or regulatory change.
−Removed: Our engagements are designed to leverage human connection, expertise and collaboration to deliver practical solutions and more impactful results that power our clients’, consultants’ and partners’ success.
−Removed: A disruptor within the professional services industry since our founding in 1996, today we embrace our differentiated agile delivery model.
−Removed: The trends in today’s marketplace favor the flexibility and agility that RGP provides as businesses confront transformation pressures and speed-to-market challenges.
−Removed: As talent preferences continue to shift in the direction of flexibility, choice and control, employers struggling to compete in today’s business environment must rethink the way work gets done and consider implementing new, more agile workforce strategies.
−Removed: We have evolved our client engagement and talent delivery model to take advantage of these dramatic and important shifts in the direction of flexibility, control and choice.
−Removed: Our unique approach to workforce strategy strongly positions us to help our clients transform their businesses and workplaces, especially in a time where high-quality talent is increasingly scarce and leaders are increasingly adopting more flexible workforce models to execute transformational projects.
−Removed: We believe that we are continuing to lay a solid foundation for the future.
−Removed: Based in Irvine, California, with a worldwide presence, our agile human capital model attracts top-caliber professionals with in-demand skillsets who seek a workplace environment that embraces flexibility, collaboration and human connection.
−Removed: Our agile professional services model allows us to quickly align the right resources for the work at hand with speed and efficiency in ways that bring value to both our clients and talent.
−Removed: Our approximately 4,100 professionals collectively engaged with over 2,000 clients around the world in fiscal 2023, including over 87% of the Fortune 100 as of May 2023.
+Added: Our engagements are designed to leverage human connection and collaboration to deliver practical solutions and more impactful results that power our clients’, employees’ and partners’ success.
+Added: We attract top-caliber professionals with in-demand skill sets who seek a workplace environment characterized by choice and control, collaboration and human connection.
+Added: The trends in today’s marketplace favor flexibility and agility as businesses confront transformation pressures and skilled labor shortages even in the face of protracted economic uncertainty.
+Added: Our client engagement and talent delivery model offer speed and agility, strongly positioning us to help our clients transform their businesses and workplaces.
+Added: Our model is especially relevant at a time where cost reduction initiatives drive an enhanced reliance on a flexible workforce to execute transformational projects.
+Added: We are laser-focused on driving long-term growth in our business by seizing favorable macro shifts in workforce strategies and preferences, building an efficient and scalable operating model, and maintaining a distinctive culture and approach to professional services.
+Added: Our enterprise initiatives in recent years include refining the operating model for sales, talent and delivery to be more client-centric, cultivating a more robust performance culture by aligning incentives to business performance, building and commercializing our digital engagement platform, enhancing our consulting capabilities in digital transformation to align with market demand, improving operating leverage through pricing, operating efficiency and cost reduction, and driving growth through strategic acquisitions.
+Added: We believe our focus and execution on these initiatives will serve as the foundation for growth ahead.
+Added: We serve 1,800 clients around the world with approximately 3,400 professionals collectively engaged from 38 physical practice offices and multiple virtual offices.
+Added: Headquartered in Irvine, California, we are proud to have served 88% of the Fortune 100.
Business Segments
Effective May 31, 2022, the Company’s operating segments consist of the following:
−Removed: RGP – a global business consulting firm focused on project execution services that power clients’ operational needs and change initiatives with experienced and diverse talent;
+Added: • RGP – a global consulting firm focused on delivering consulting services that power clients’ operational needs and change initiatives utilizing a combination of bench and on-demand, expert and diverse talent;
• Sitrick – a crisis communications and public relations firm which operates under the Sitrick brand, providing corporate, financial, transactional and crisis communication and management services.
−Removed: Each of these segments reports through a separate management team to our Chief Executive Officer, who is the Chief Operating Decision Maker for segment reporting purposes.
−Removed: RGP is the Company’s only reportable segment that meets the quantitative threshold of a reportable segment .
+Added: Each of these segments reports through a separate management team to the Company's Chief Executive Officer, who is designated as the Chief Operating Decision Maker for segment reporting purposes.
+Added: RGP is the Company’s only reportable segment.
Sitrick does not individually meet the quantitative threshold to qualify as a reportable segment.
Therefore, Sitrick is disclosed in Other Segments.
−Removed: RGP accounts for more than 90% of our consolidated revenue and segment total Adjusted EBITDA and, therefore, represents our dominant segment.
+Added: RGP accounts for more than 90% of our consolidated revenue and total Adjusted EBITDA and, therefore, represents our dominant segment.
The discussions in this section apply to both our entire business and RGP.
+Added: On November 15, 2023, the Company acquired CloudGo Pte Ltd.
+Added: and its subsidiaries (collectively, “CloudGo”).
+Added: CloudGo is reported as part of the RGP operating segment.
+Added: See Note 3 – Acquisitions and Dispositions in the Notes to Consolidated Financial Statements for further information.
Prior to May 31, 2022, the Company’s Other Segments included taskforce, along with its parent company, Resources Global Professionals GmbH, an affiliate of the Company.
taskforce was divested on May 31, 2022;
−Removed: refer to Note 2 – Summary of Significant Accounting Policies and Note 3 – Dispositions in the Notes to Consolidated Financial Statements for further information.
+Added: refer to Note 2 – Summary of Significant Accounting Policies and Note 3 – Acquisitions and Dispositions in the Notes to Consolidated Financial Statements for further information.
Prior-period comparative segment information was not restated as a result of the divestiture of taskforce as we did not have a change in internal organization or the financial information our Chief Operating Decision Maker uses to assess performance and allocate resources.
+Added: During the first quarter of fiscal 2025, the Chief Executive Officer, who is the Company’s Chief Operating Decision Maker, announced a decision to reorganize the Company’s business by forming multiple discrete operational business units.
+Added: To align the new operating model and business structure, the Company is making management organizational changes and implementing new reporting modules and processes to provide discrete information to manage the business.
+Added: Management expects to finalize its assessment of its operating segments when the implementations and transitions are completed, which is expected to be in the first quarter of fiscal 2025.
Industry Background and Trends
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namely, organizations are increasingly choosing to address their workforce needs in more flexible ways.
−Removed: We believe this growing shift in workforce strategy towards a project-based orientation was greatly accelerated by the COVID-19 pandemic (the “Pandemic”), which placed an enhanced emphasis on business agility, and continues to be hastened by the competition for talent.
+Added: We believe this continued shift in workforce strategy towards a project-based orientation was greatly accelerated by the COVID-19 pandemic (the “Pandemic”), which placed an enhanced emphasis on business agility, and continues to be hastened by the competition for talent.
Permanent professional personnel positions are being reduced as organizations engage agile talent for project initiatives and transformation work.
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Therefore, one of our top priorities is to continue to attract and retain high-caliber consultants who are committed to serving clients and solving their problems.
−Removed: We believe we have been successful in attracting and retaining qualified professionals by providing interesting work assignments within a blue-chip client base, competitive compensation and benefits, and continuing professional development and learning opportunities, as well as membership to an exclusive community of like-minded professionals, while offering flexible work schedules and more control over choosing client engagements.
+Added: We believe we have been successful in attracting and retaining qualified professionals by providing interesting work assignments within a blue-chip client base, competitive compensation and benefits, and continuing professional development and learning opportunities, as well as membership in an exclusive community of like-minded professionals, while offering flexible work schedules and more control over choosing client engagements.
• Maintain our distinctive culture.
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Our talent team then identifies consultants with the appropriate skills and experience from our global talent pool to meet the clients’ objectives.
−Removed: 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.
+Added: We believe that by establishing relationships with our clients to solve their professional service needs, we are more likely to identify new opportunities to
The strength and depth of our client relationships is demonstrated by the 75% retention rate of our top 100 clients over the last five fiscal years.
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We have historically built our brand through the consistent and reliable delivery of high-quality, value-added services to our clients as well as a significant referral network of 2,585 consultants and 791 management and administrative employees as of May 25, 2024.
−Removed: In recent years, we have invested in global, regional and local marketing and brand activation efforts that reinforce our brand.
+Added: In recent years, we have invested in global, regional and local marketing and brand building and activation efforts that reinforce our brand.
In fiscal 2022, we introduced our new tagline ― Dare to Work Differently ― to clarify our brand.
−Removed: We made progress on clarifying our brand and activated our new brand positioning during fiscal 2023.
+Added: We made progress in clarifying and activating our new brand positioning during fiscal 2023 and 2024.
+Added: We expect to continue to engage in these efforts in the upcoming fiscal year.
We rely on trademark registrations and common law trademark rights to protect the distinctiveness of our brand.
Our Growth Strategy
−Removed: Since inception, our growth has been primarily organic with certain strategic acquisitions along the way that augmented our physical presence or solution offerings.
−Removed: We believe we have significant opportunity for continued organic growth in our core business while also growing through strategic and highly targeted acquisitions as our clients continue to accelerate their digital, workforce and workplace paradigm transformations .
+Added: Since inception, our growth has been primarily organic with certain strategic acquisitions along the way that augmented our geographic presence or solution offerings.
+Added: We believe we have significant opportunity for continued organic growth in our core business as well as through strategic and highly targeted acquisitions as our clients continue to accelerate their digital, workforce and workplace paradigm transformations.
Key elements of our growth strategy include:
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Consistent with current industry trends, we believe our clients may also continue to increase that spend as businesses adopt a more agile workforce strategy.
−Removed: We believe that by continuing to deliver high-quality services and by furthering our relationships with our clients, we can capture a significantly larger share of our clients’ professional services budgets.
+Added: We believe that by continuing to deliver high-quality services and by deepening our relationships with our clients, we can capture a significantly larger share of our clients’ professional services budgets.
We maintain our Strategic Client Account program to serve a number of our largest clients with dedicated global account teams.
−Removed: We have and will continue to expand the Strategic Client Account program by adding clients and taking a more client-centric and borderless approach to serving these clients.
+Added: We have and will continue to expand the Strategic Client Account program by taking a more client-centric and borderless approach to serving these clients.
In addition to serving our largest clients with a differentiated focus, we also segment our clients by industry verticals.
−Removed: 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.
−Removed: The Strategic Client Account and Industry Vertical programs have been key drivers for our revenue and business growth.
+Added: We believe this focus enhances our opportunity to develop in-depth knowledge of these clients’ needs and the ability to increase the scope and size of projects with those clients.
+Added: The Strategic Client Account and Industry Vertical programs have been key drivers for our revenue and business development.
• Grow our client base.
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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.
−Removed: We anticipate our growth efforts will continue to pivot on identifying strategic target accounts especially in the large and middle-market client segments and within certain focus industries, such as healthcare, technology and financial services.
+Added: We anticipate our growth efforts will continue to focus on identifying strategic target accounts especially in the large and middle-market client segments and within certain focus industries, such as healthcare, technology and financial services.
• Optimize service offerings with a focus on digital capabilities.
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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 digital transformation, finance transformation, accounting regulations, internal audit and compliance, healthcare compliance, integration and divestitures, and supply chain management.
−Removed: We continuously identify project opportunities we can market at a broader level with our talent, tools and methodologies and commercialize projects into solution offerings.
+Added: We continuously identify project opportunities we can market at a broader level with our talent, tools and methodologies and commercialize into solution offerings.
When evaluating new or existing solution offerings to invest in, we consider (among other things) profitability, cross-marketing opportunities, competition, growth potential and cultural fit.
−Removed: Our subsidiary Veracity Consulting Group, LLC (“Veracity”) offers valuable digital consulting services, particularly related to experience and automation.
+Added: Our subsidiary Veracity Consulting Group, LLC (“Veracity”) offers valuable digital consulting services, particularly
+Added: related to experience and automation.
Customer experience and employee and workspace experience continue to be growing themes in the marketplace and within our client portfolio.
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HUGO by RGP® (“HUGO”), our digital engagement platform, allows such an experience for clients and talent in the professional staffing space to connect, engage and even transact directly.
−Removed: We piloted the platform in three primary markets – New York/New Jersey, Southern California and Texas, and have continued to expand its functionality with further artificial intelligence and machine learning.
+Added: We piloted the platform in three primary markets – New York/New Jersey, Southern California and Texas, and have continued to expand its functionality with further artificial intelligence ("AI") and machine learning.
We have also been developing sales and marketing strategies to increase client and talent adoption of the platform.
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Our acquisition strategy is to engage in targeted M&A efforts that are designed to complement our core service offerings and enhance our consulting capabilities that are in line with market demands and trends.
−Removed: The acquisition of Veracity accelerated our digital capabilities and our ability to offer comprehensive digital innovation services.
+Added: Our recent acquisition of CloudGo, now integrated into Veracity, expanded our ServiceNow capabilities as well as our ServiceNow footprint in the Asia Pacific region.
+Added: This year, we also entered into an agreement to acquire Reference Point LLC, a management and technology consulting firm focused on serving the financial services industry, and closed the acquisition on July 1, 2024.
We will continue to seek acquisition opportunities to augment and expand the breadth and depth of our digital and other core capabilities.
Our Service Offerings
−Removed: Project Consulting .
+Added: • Project Consulting Services .
We partner with our people and clients to deliver value and impact, bringing our depth of experience and “sleeves up” approach to project execution.
While many companies find their internal employees lack the time, experience, or skills for project execution, we seek out talent who can bring fresh ideas to drive any project to a successful conclusion.
−Removed: On-demand Talent .
−Removed: Tapping into our agile talent pool, we mobilize the right resources to support an organization in today’s rapidly changing business environment.
+Added: • On-demand Talent Services .
+Added: Tapping into our agile talent pool, we mobilize the right resources to build delivery teams for our consulting offerings and directly support client talent needs in today’s rapidly changing business environment.
Our workforce strategy provides flexible, collaborative resources to meet our clients’ needs.
• Other Services .
−Removed: From digital workflows to back-office functions, we support vital business processes, freeing our clients to focus on transformation.
−Removed: In addition, our award-winning recruiters quickly find and assess top talent for business-critical positions for a wide range of clients.
+Added: From digital workflows to back-office functions, we support vital business processes, freeing our clients to focus on transformation and other critical priorities.
Human Capital Management
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As a human-first company, we recognize diversity as a strength that is cultivated through our culture, our people, our business, and our clients.
−Removed: We are proud to be a Paradigm for Parity Coalition member, which is a coalition of companies committed to addressing the corporate leadership gender and diversity gaps, and are proud that 100% of our Executive Leadership Team are women, racially or ethnically diverse.
−Removed: Additionally, 40% of our directors identify as women, racially or ethnically diverse.
−Removed: Our gender, racial and ethnic diversity representation in the Executive Leadership Team, Board of Directors and U.S.-based workforce is presented in the following table:
+Added: Our workforce reflects diversity in all its forms, including gender and gender identity, race and ethnicity, age, sexual orientation and a variety of cultural and personal backgrounds.
+Added: We believe a diverse workforce is essential to our continued success.
+Added: We are proud that 100% of our Executive Leadership Team identify as women or are racially or ethnically diverse.
+Added: Additionally, 40% of our directors identify as women or are racially or ethnically diverse.
+Added: We are also a Paradigm for Parity Coalition company, which is a coalition of companies committed to addressing gender and diversity gaps in corporate leadership.
+Added: Our gender and racial and ethnic diversity representation in the Executive Leadership Team, Board of Directors and U.S.-based workforce is presented in the following table:
* -- Diversity representation is as of May 25, 2024.
−Removed: Our fiscal 2023 DE&I strategic priorities remained focused on increasing DE&I awareness, education and involvement among our workforce, increasing diversity in our workforce, and promoting diversity in our Go-to-Market activities.
−Removed: To guide our actions, we launched our second global DE&I survey in fiscal 2023 to collect employee feedback on how we can continue to be an inclusive workplace where all feel welcome and have a sense of belonging.
−Removed: The feedback showed improvements in all categories since the previous survey in fiscal 2021 and provided valuable insights to establish plans to create meaningful change for our global team.
−Removed: In fiscal 2023, we continued our DE&I Council and DE&I Ambassador programs, which consist of employees representing a cross-section of functions and levels across the globe and support our DE&I priorities by designing and delivering measurable and impactful solutions.
+Added: Our fiscal 2024 DE&I strategic priorities remained focused on increasing DE&I awareness, education and involvement across our global team, increasing diversity in our workforce, and promoting inclusion in our Go-to-Market activities.
+Added: Last year’s DE&I survey indicated high interest in creating additional ways for our employees to connect, learn, and support RGP’s DE&I Commitment.
+Added: In response, RGP launched our first employee resource groups (“ERGs”) in 2024.
+Added: The Women in Leadership, Multicultural and Interfaith ERGs are voluntary, employee-led groups and are dedicated to fostering a diverse and inclusive work environment.
+Added: These are complemented by other employee groups such as our Pride Committee and Caregivers for Aging Parents that are in place to support ways for our employees to get to know each other on a personal level and foster a sense of belonging for all.
+Added: In fiscal 2024, we continued our DE&I Council and DE&I Ambassador programs, which consist of employees representing a cross-section of functions and levels across the globe and are open to all employees, regardless of race, gender or ethnicity.
+Added: These programs support our DE&I priorities by designing and delivering measurable and impactful solutions.
The DE&I Council serves an important role in working closely with senior leaders to facilitate alignment between our DE&I efforts and overall business strategy.
−Removed: Our DE&I Council hosts periodic town hall meetings that are accessible to our global workforce.
−Removed: These meetings serve as important learning opportunities and connection points that broaden our perspectives and foster a greater sense of community among colleagues.
−Removed: During these sessions, we engage external speakers and communicate our current year DE&I strategy and initiatives.
+Added: Our DE&I Council hosts periodic educational events that are accessible to our global workforce.
+Added: These events serve as important learning opportunities and connection points that broaden our perspectives and foster a greater sense of community among colleagues.
+Added: During these sessions, we engage internal and external speakers and communicate our current year DE&I strategy and initiatives.
These sessions also serve as important listening forums by which we learn what additional DE&I activities would be most meaningful to our workforce.
−Removed: We have received strong positive feedback from our workforce around these education and engagement sessions, which has helped us to prioritize DE&I topics for building cultural and inclusive capability across our global team.
+Added: We have received positive feedback from our workforce on these engagement sessions, which helps us to prioritize DE&I actions for building cultural and inclusive capability across our global team.
The DE&I Ambassador program is comprised of employee volunteers, with a mission to “meet people where they are” in relationship to DE&I and to promote DE&I awareness in existing business forums (i.e., to raise a DE&I topic in existing business meetings or planned social gatherings).
The DE&I Ambassador program has had a positive impact on our culture as it generates meaningful opportunities for people, who work in a hybrid and geographically dispersed way, to come together for connection and community.
−Removed: The DE&I Ambassador teams operate at a regional level and meet quarterly to share success stories and practices across the regions.
+Added: The DE&I Ambassador teams operate at a regional level and meet quarterly to share success stories and practices across the regions with the goal of contributing to greater inclusion within RGP.
In fiscal 2024, we also continued our Social Justice Charitable Matching Fund, which has allowed us to help raise DE&I awareness internally across our organization by matching employees’ contributions to charitable organizations that promote social justice.
−Removed: As of May 27, 2023, we achieved our goal of matching $100,000 in contributions during fiscal 2023 and since fiscal 2021, we have supported over 150 unique charitable organizations with over $300,000 in contributions.
+Added: As of May 25, 2024, we achieved our goal of matching $100,000 in contributions during fiscal 2024 and since fiscal 2021, we have supported approximately 190 unique charitable organizations with over $400,000 in contributions.
We also support and encourage our employees to volunteer their time and donate to local or national charitable causes.
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During fiscal 2024, we also enhanced and promoted programs to support our employees’ physical and mental wellbeing, including the offering of regular wellness and self-care sessions, supporting our You Matter recognition program that allows employees to share gratitude and kudos for colleagues, and launching a new Spirit of Volunteerism initiative to share stories, foster community connections and promote organizations and causes that are important to our employees.
−Removed: We also offer all global employees participation in programs and resources to support personal and family health and wellbeing, including our Employee Assistance Program in the U.S.
+Added: We also offer an Employee Assistance Program for U.S.
+Added: employees and a Global Workforce Support Program for our international employees.
+Added: Both programs provide resources to support personal and family health and wellbeing.
Building Strong Leaders and Talent Management
Strong “human leadership” is critical to fostering employee engagement and positioning employees to perform at their best.
+Added: In fiscal 2023, we launched “Leadership U” to foster leadership development, peer mentorship opportunities and to support the building and maintenance of high-performing teams.
In fiscal 2024, we saw a continued and strengthened desire from employees seeking authentic, empathetic and adaptive behaviors from their leaders.
For these reasons, we invest in the ongoing professional development of our employees and leaders.
−Removed: We designed and delivered curated programs to onboard and acclimate employees to the business and promote personal, professional and leadership growth.
−Removed: In fiscal 2023, we launched “Leadership U” to foster leadership development, peer mentorship opportunities and to support the building and maintenance of high-performing teams.
+Added: We designed and delivered curated programs such as "Leadership U" to onboard and acclimate employees to the business and promote personal, professional and leadership growth.
Successful talent development starts with hiring the right people.
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In fiscal 2023, we expanded this program to RGP U Consultant to ensure strong connectivity and supported success in a consultant’s first year with RGP.
−Removed: We also launched a Sales Effectiveness curriculum that focused on deepening sales and client service acumen and effectiveness.
+Added: In fiscal 2024, we continued our Sales Effectiveness curriculum focused on deepening sales and client service acumen and effectiveness.
In addition, we continued to invest in the professional development and growth of our employees as we focused on employee experience, effectiveness, upskilling and reskilling in a changing work environment.
This support was focused and delivered to all employees with emphasis in the areas of leadership development, on-boarding, functional/technical learning and digital fluency.
−Removed: We continued to actively engage with our internal leaders by integrating wellness and leadership development topics into our quarterly senior leadership meetings.
+Added: We continued to actively engage with our internal leaders by integrating wellness
+Added: and leadership development topics into our quarterly senior leadership meetings.
We also conducted intentional leader listening forums and mentorship programs to help guide our leaders during fiscal 2024.
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In addition to salaries or hourly rates, our eligible employees, including our consultants, are offered participation in a comprehensive benefits program (based on location) including:
−Removed: paid time off and holidays, group medical and dental programs, a basic term life insurance program, health savings accounts, flexible spending accounts, a 401(k) retirement plan with employer matching contributions, a pension plan or contributions to a statutory retirement program, the 2019 Employee Stock Purchase Plan, as amended (“ESPP”), which enables employees to purchase shares of our stock at a discount, and an employee assistance program.
+Added: paid time off and holidays, group medical and dental programs, a basic term life insurance program, health savings accounts, flexible spending accounts, a 401(k) retirement plan with employer matching contributions, contributions to statutory retirement programs, the 2019 Employee Stock Purchase Plan, as amended (“ESPP”), which enables employees to purchase shares of our stock at a discount, and an employee assistance program.
In addition, eligible management and administrative employees may participate in annual cash incentive programs or receive stock-based awards.
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to maintain continuation of benefits for 90 days following the completion of a consulting project.
−Removed: We utilize a Pay for Success Total Rewards Philosophy that promotes more consistent and transparent practices for rewarding and incentivizing our employees and the alignment of pay practices with the Company’s success.
+Added: We utilize a Pay for Success Total Rewards Philosophy that promotes consistent and transparent practices for rewarding and incentivizing our employees and the alignment of pay results with the Company’s success.
The Total Rewards Philosophy is comprised of three main components:
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(ii) short-term incentives, awarded to employees based on results delivered during the applicable fiscal year and determined by quantitative metrics, qualitative contributions, individual goals, and demonstration of company values;
−Removed: and (iii) long-term incentives, granted to reward and retain employees who have strategic influence on the long-term success of the Company.
−Removed: As a listening organization, we continue to communicate with our people to understand what
−Removed: components of Total Rewards are priority for them and leverage that feedback, along with quantitative benchmarking data and affordability considerations, to continually evolve our Total Rewards offerings in a way that positions us to attract and retain top talent.
+Added: and (iii) long-term incentives, granted to recognize and retain employees who have strategic influence on the long-term success of the Company.
+Added: As a listening organization, we continue to communicate with our people to understand what components of Total Rewards are priority for them and leverage that feedback, along with quantitative benchmarking data and affordability considerations, to continually evolve our Total Rewards offerings in a way that positions us to attract and retain top talent.
During fiscal 2024, we also continued our “You Matter” digital global employee recognition and appreciation program.
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We provide our services and solutions to a diverse client base in a broad range of industries.
−Removed: In fiscal 2023, we served over 2,000 clients in 37 countries.
+Added: In fiscal 2024, we served 1,800 clients in 37 countries.
Our revenues are not concentrated with any particular client.
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In fiscal 2020, we launched our Borderless Talent initiative in response to the Pandemic to evolve towards and facilitate a virtual operating model.
−Removed: In fiscal 2023 we continued with this initiative, as we seek to provide borderless solutions, anytime, anywhere, bringing the best talent to meet our clients’ business needs, based on expected outcome, not zip code.
+Added: In fiscal 2024, we
+Added: continued with this initiative, as we seek to provide borderless solutions, anytime, anywhere, bringing the best talent to meet our clients’ business needs, based on expected outcome, not zip code.
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.
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(a) licensing and registration requirements and (b) regulation of the employer/employee relationship, such as worker classification regulations, wage and hour regulations, tax withholding and reporting, immigration/H-1B visa regulations, social security and other retirement, antidiscrimination, and employee benefits and workers’ compensation regulations.
−Removed: Our operations could be impacted by legislative changes by these bodies, particularly with respect to provisions relating to payroll and benefits, tax and accounting, employment, worker classification and data privacy.
+Added: Our operations could be impacted by legislative changes by these bodies, particularly with respect to provisions relating to payroll and benefits, tax and accounting, employment, worker classification and data privacy which could materially affect our capital expenditures, earnings and/or competitive position.
Due to the complex regulatory environment that we operate in, we remain focused on compliance with governmental and professional organizations’ regulations.
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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.