What changed in this filing

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Item 1. Business

2024-02-20 compared with 2023-02-10 · 56 added, 53 removed, 110 unchanged (50% of the section changed)

Robert Half International Inc.

Robert Half Inc.

(the “Company”) provides specialized talent solutions and business consulting services through the Robert Half ® and Protiviti ® company names.

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Since 1986, the Company has significantly expanded operations at many of the acquired locations, opened hundreds of new locations, and acquired other local or regional providers of specialized contract personnel.

The Company has also broadened the scope of its services by expanding product offerings to include administrative and customer support, technology, financial project, and consulting and legal talent solutions.

Prior to 2022, the Company organized its talent solutions business (previously referred to as staffing) through separately branded divisions under the brand names of Accountemps ® , Robert Half ® Finance and Accounting, OfficeTeam ® , Robert Half ® Technology, Robert Half ® Management Resources, Robert Half ® Legal, and The Creative Group.

The Company has also broadened the scope of its services by expanding product offerings to include administrative and customer support, technology, financial project, consulting, legal, and marketing and creative talent solutions.

Prior to 2022, the Company organized its talent solutions business through separately branded divisions under the brand names of Accountemps ® , Robert Half ® Finance and Accounting, OfficeTeam ® , Robert Half ® Technology, Robert Half ® Management Resources, Robert Half ® Legal, and The Creative Group.

During 2022 the Company unified its family of Robert Half brands to focus on its key brand, Robert Half.

This simplifies the Company’s go-to-market brand structure for clients and candidates, provides leverage for greater brand awareness, and allows future flexibility to expand the Company’s existing functional specializations.

In connection with this process, the Company’s current financial statement disclosures reflect new names for its reportable segments, including contract talent solutions (formerly temporary and consultant staffing), permanent placement talent solutions (formerly permanent placement staffing), and Protiviti (formerly risk consulting and internal audit services).

In connection with this process, the Company’s current financial statement disclosures reflect the names of its reportable segments, including contract talent solutions, permanent placement talent solutions, and Protiviti.

Further information on these business segments follows.

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Robert Half’s contract talent solutions business specializes in the provision of contract engagement professionals in the fields of finance and accounting, technology, marketing and creative 1 , legal 1 , and administrative and customer support.

Operationally, the Company’s contract talent solutions are organized into the following functional specializations:

◦ Finance and Accounting

◦ Marketing and Creative 1

◦ Administrative and Customer Support

Operationally, the Company’s contract talent solutions are organized into each of these functional specializations.

1 In the Company’s financial statements, both Marketing and Creative and Legal functional specializations are reported within Finance and Accounting.

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The client typically pays a one-time fee for such conversions.

Finance and Accounting offers customers a reliable and economical means of dealing with uneven or peak workloads for accounting, finance, and accounting operations personnel caused by such predictable events as vacations, taking inventories, tax work, month-end activities, special projects, and such unpredictable events as illness and emergencies.

Finance and Accounting also provides senior-level engagement professionals in the accounting, finance, and business systems fields, including chief financial officers, controllers, senior financial analysts, internal auditors, and business systems analysts, for such tasks as financial systems conversions, business process re-engineering, business systems performance improvement and post-merger financial consolidation.

Technology provides information technology contract professionals and offers managed services in areas ranging from multiple platform systems integration to end-user technical and desktop support, including specialists in software and application development, networking and cloud, systems integration and deployment, database design and administration, and security and business continuity.

Marketing and Creative includes the provision of creative professionals in the areas of creative, digital, marketing, advertising, and public relations in a variety of positions, such as creative directors, graphic designers, web designers, media buyers, front-end developers, copywriters, digital marketing managers, marketing analytics specialists, brand managers, and public relations specialists.

Legal provides legal contract talent, including attorneys and paralegal professionals.

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Protiviti has enabled the Company to enter the market for business consulting and internal audit services, and the Company believes this market offers synergies with its traditional lines of business.

Protiviti delivers an expanding set of services across its defined solution offerings of internal audit, technology consulting, risk and compliance consulting, digital transformation, legal consulting, and business performance improvement.

Protiviti and its independently owned Member Firms work collaboratively with its clients in over 25 countries to help them achieve their business objectives and deliver confidence in an ever-evolving and dynamic business world.

Protiviti provides a broad range of consulting and managed solutions to leaders in finance, technology, operations, data, analytics, digital, marketing, legal, HR, governance, risk and internal audit.

Protiviti and its independently owned member firms work collaboratively with their clients in over 25 countries to help them achieve their business objectives and deliver confidence in an ever-evolving and dynamic business world.

Serving organizations across industry sectors, clients range from high-growth, pre-public/transactional established start-ups to the largest global companies and government entities.

The Protiviti business was formerly referred to as the Company’s risk consulting and internal audit services segment.

Artificial Intelligence

The Company utilizes a proprietary artificial intelligence (“AI”) engine to match candidates to jobs in order to assist talent solutions professionals with quickly providing skilled and experienced contract talent to clients, as well as through email marketing recommendation campaigns that proactively promote highly placeable talent to clients.

The Company also uses AI to assist with improving lead generation amongst past clients and determining which candidates are most likely to work on an assignment in the near term.

The Company is also evaluating how generative artificial intelligence tools could enhance the business.

Protiviti is expanding service offerings to include AI-enabled solutions, and is navigating clients through this complex and rapidly evolving technology with a particular focus on responsible AI.

Many engagements begin with identifying opportunities for and applications of AI to accelerate positive business outcomes.

In addition to developing technology solutions, these engagements evolve into helping clients identify potential risks, defining their specific policies for AI, developing and enacting governance mechanisms to apply those policies, and incorporating these principles into technology selection and architecture.

Marketing and Recruiting

The Company markets its contract talent services to clients and employment candidates via both national and local advertising activities, including radio, digital advertising, job boards, alliance partners, and events.

The Company markets its contract talent and permanent placement services to clients and employment candidates via both national and local advertising activities, including radio, digital advertising, job boards, alliance partners, and events.

The Company also markets its services via its website, blog and mobile app, as well as through targeted online tactics, email, and social media.

Direct marketing to customers is a significant portion of the Company’s total marketing efforts.

Joint marketing arrangements have been entered into with major software manufacturers and typically provide for the development of proprietary skills tests, cooperative advertising, joint campaigns, and similar promotional activities.

The Company also actively seeks endorsements and affiliations with professional organizations in the accounting and finance, technology, legal, and creative and marketing fields.

also actively seeks endorsements and affiliations with professional organizations in the accounting and finance, technology, legal, and creative and marketing fields.

The Company also conducts public relations activities designed to enhance public recognition of the Company and its services.

Central to the public relations activities are research-based content, targeted media relations and thought leadership.

Robert Half employees are encouraged to be active in civic organizations and industry trade groups in their local communities.

Central to the public relations activities are research-based content, targeted media relations and thought leadership, and promotion of company accolades received from third-party organizations.

Robert Half employees are encouraged to be active in civic organizations and industry trade groups in their local communities, as well as in professional social media channels.

Protiviti markets its business consulting services to a variety of global clients in a range of industries.

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Protiviti regularly conducts a variety of programs to share its insights with clients on current and emerging business issues.

Protiviti also markets its capabilities through its broad partner ecosystem of professional associations and complimentary service and technology providers.

It conducts public relations activities, including distributing press releases, sharing proprietary research findings and providing subject-matter experts for press interviews designed to enhance recognition of Protiviti’s brand and reputation, establish its expertise in key issues surrounding its businesses and promote its services.

Protiviti also markets its capabilities through its broad partner ecosystem of professional associations and complementary service and technology providers.

It conducts public relations activities, including distributing news releases, sharing proprietary research findings and providing subject-matter experts for media interviews designed to enhance recognition of Protiviti’ s brand and reputation, establish its expertise in key issues surrounding its businesses and promote its services.

Protiviti promotes its brand name through digital and out-of-home advertising and its professional golf brand ambassador program.

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Office managers are responsible for most activities of their offices, including business development, local advertising and marketing, and recruitment.

The day-to-day operations of Protiviti are managed by a chief executive officer and a senior management team with operational and administrative support provided by individuals located in Menlo Park and San Ramon, California.

The day-to-day operations of Protiviti are managed by a chief executive officer and a senior management team.

Operational and administrative support is provided by individuals located in Menlo Park and San Ramon, California.

As of December 31, 2023, Protiviti had 65 offices in 23 states and 13 foreign countries.

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The principal competitors of Protiviti remain the “Big Four” accounting firms and other consultancies.

Significant competitive factors include reputation, technology, tools, project methodologies, price of services, and depth of skills of personnel.

Significant competitive factors include reputation, technology, tools, project methodologies, price of services, and depth of skills and breadth of availability of personnel.

Protiviti believes its competitive strengths lie in the collaborative approach it takes to working with clients, which drives knowledge transfer, understanding of client issues, and value creation.

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Diversity, Equity and Inclusion .

The Company believes that its rich culture of diversity, equity and inclusion enables it to leverage the strengths of its workforce while also creating an environment where employees can connect, thrive, and grow.

In 2022, we continued our support of the CEO Action for Diversity & Inclusion pledge and furthered our commitment to advancing diversity, equity, and inclusion by establishing new strategic alliances with Black is Tech, Upward Women, and Hire Heroes.

Current key initiatives include integrating DEI into learning programs, deepening the reach of our Employee Network Groups (“ENGs”), and a focus on external strategic alliances to increase engagement and representation of underrepresented communities.

The Company places a high value on inclusion, engaging employees in its ENG programs.

These ENGs provide a forum for employees with diverse backgrounds, experiences, or characteristics who share a common interest in professional development, improving corporate culture, and delivering sustained business results.

The Company also uses these groups to support the acquisition of diverse talent internally and externally.

Each ENG is sponsored and supported by senior leaders across the enterprise.

Across Robert Half and Protiviti , there are now 16 Employee Network Groups spanning women, gender, race/ethnicity, sexual orientation, and mental health and well-being.

Across both Robert Half and Protiviti , as of December 31, 2022, approximately 54.4% of the Company's global workforce was female and 47.1% of the Company’s employees in managerial and leadership roles were female.

The Company’s corporate culture of diversity, equity and inclusion (“DEI”) enables it to leverage the representation and strengths of its workforce.

In doing so, an environment is created where the enterprise’s values anchor the work and cultivate a culture of growth and connection;

attract, retain, and advance talented people;

and positively impact clients and the communities where they live and serve.

In 2023, the Company continued its support of the CEO Action for Diversity & Inclusion pledge, published its DEI e-book “A Shared Journey to Inclusivity,” and furthered its commitment by continuing to invest in key programs such as strategic alliance engagement, employee network group (“ENG”) maturation, and learning and development opportunities.

The Company places a high value on inclusion, engaging employees in its ENG programs which provide a community for individuals with various backgrounds, experiences, and identities, and their allies.

These employee-led groups convene around common interests by sharing heritage and cultural traditions, investing in professional development and mentoring, improving corporate culture, and delivering sustained business results.

These groups support the attraction of historically underrepresented talent internally and externally.

Each ENG is sponsored and supported by executive leaders across the enterprise.

Across Robert Half and Protiviti, there are 17 ENGs spanning gender, race/ethnicity, sexual orientation, ability and mental health and well-being.

Across Robert Half and Protiviti, as of December 31, 2023, approximately 53.5% of the Company’s global workforce identified as female and 47.6% of the Company’s employees in managerial and leadership roles identified as female.

As of December 31, 2023, approximately 33.8% of the Company’s U.S.

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A major component in supporting employee engagement is the Robert Half employee voice initiative to provide its employees with feedback opportunities.

In 2022, the Company conducted two surveys to understand employee needs and gather feedback on a variety of focus areas.

In 2023, the Company conducted two surveys to provide a forum to understand employee needs and gather feedback on a variety of focus areas.

The survey results were analyzed by an independent third-party and then reviewed by the executive officers.

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

In 2022, Robert Half and Protiviti formalized new hire surveys at specific points in a new hire's onboarding and departure surveys to exiting employees.

By paying close attention to the results both at an aggregate enterprise level and at a department/business/workgroup level, across an employee’s life cycle, the Company has been able to enhance its culture of rewards and recognition, drive efforts to promote inclusion and diversity, increase communication in support of employee well-being and modernize its approach to foster a culture of continuous learning and feedback.

In addition, Robert Half expanded its participation in the Great Place to Work ® Survey to include all country locations to benchmark with other companies.

Under its Leading with Empathy initiative, Protiviti uses an “ask, listen, respond, act” approach to building trust through global surveys where employees provide anonymous feedback.

The results of these engagement surveys were shared with individual managers, who were then tasked with acting based on their employees’ confidential feedback (both quantitative and qualitative).

In 2023, Robert Half and Protiviti conducted new hire surveys at specific points in a new hire’s onboarding and departure surveys to exiting employees.

By paying close attention to the results at an aggregate enterprise level and at a department/business/workgroup level, across an employee’s life cycle, the Company has been able to enhance its culture of rewards and recognition, drive efforts to promote inclusion and diversity, increase communication in support of employee well-being and modernize its approach to foster a culture of continuous learning and feedback.

In addition, Robert Half continued its participation in the Great Place to Work ® Survey to benchmark with other companies around the world.

Protiviti uses an “ask, listen, respond, act” approach to building trust through global surveys where employees provide anonymous feedback.

Employee feedback is then carefully reviewed and analyzed to identify trends, which are shared with senior leaders and communicated directly to employees.

Actions being taken based on employee feedback are highlighted so that employees understand the importance of their input.

Changes based on employee feedback are highlighted so that employees understand the importance of their input.

Protiviti leverages surveys in the U.S.

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Learning and Development .

The Company emphasizes employee development and training as a priority for both our people and for the organization.

The Company emphasizes employee development and training for our people and the organization.

Training and development are key elements to the overall retention, engagement, and employee experience strategy.

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

Our strategy is designed to empower employees to reach their full potential, and the Company provides a wide range of development programs, opportunities, and resources needed to be successful.

The Company has specialized programs for all audiences, including new hires, tenured employees, and leadership.

We provide mentorship opportunities, self-paced and instructor-led learning channels, and a catalog of vendor-provided courses, videos, resources, and books.

The Company provides mentorship opportunities, self-paced and instructor-led learning channels, and a catalog of vendor-provided courses, videos, resources, and books.

The Company is committed to its employees’ overall health and providing career progression by providing individual development, readiness, and transition plans as a part of its talent review and succession planning process.

As a result of our flexible working environment in 2022, our learning strategy supports access and equity to all our employees through both in-person and virtual learning experiences.

In 2022 we introduced comprehensive learning maps for the first year of our new hires and our front-line leaders which provide a more consistent, predictable and formal learning experience.

We continued to deploy learning that supports our flexible working environment by providing both virtual and in-person learning opportunities.

Given our flexible work philosophy, our learning strategy supports access and equity to all employees, including in-person and virtual learning experiences.

Comprehensive learning maps for the first year of our new hires and our front-line leaders provide a consistent, predictable and formal learning experience.

Our learning strategy supports equity of access, just in-time learning and continued career development for our employees.

In Protiviti, at key career milestones, employees may participate in engaging learning events that prepare them to succeed at higher levels.

Each employee is assigned a career advisor who coaches them and recommends actions to help them increase their impact, contribution, and engagement.

Each employee is assigned a career adviser who coaches them and recommends actions to help increase their impact, contribution, and engagement.

Protiviti encourages and pays for employees to attain select recognized professional certifications.

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Compensation, Benefits and Well-being .

The Company offers fair, competitive compensation and benefits that support its employees’ overall well-being.

The Company offers fair, competitive compensation and benefits that support its employees’ overall well-being—financial, mental and physical.

To align with management’s short- and long-term objectives, the Company’s compensation programs for all employees include competitive base pay and for some employees, short-term and long-term incentives.

The Company offers a wide array of benefits including comprehensive health and welfare programs, generous time off and leave, and retirement and financial support.

The Company provides emotional well-being services through its Employee Assistance Program as well as a number of perks and other convenience benefits.

As an outcome of the coronavirus (“COVID-19”) pandemic we made a global shift to remote work models.

We put people first by providing work options that support professional and personal needs.

Subject to business requirements, employees have flexibility and choice to work where they feel comfortable and productive – remote, in-office or a hybrid approach.

This model is based on fairness and equity, with a goal of allowing for a consistent employee experience, regardless of where one works.

The Company provides emotional well-being services through its Employee Assistance Program as well as other perks and convenience benefits.

In 2023, the Company devoted itself to focusing on our employees, including their careers, well-being, connections and impact they have on the Company and community.

This commitment helps our leaders build successful teams and ensures employees feel valued and connected to our mission, while defining what they can expect working for the Company throughout their career journey.

Other Information

The Company is not dependent upon a single customer or a limited number of customers.

The Company is not dependent on a single customer or a limited number of customers.

The Company’s talent solutions business is generally more active in the first and fourth quarters of a calendar year.

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The Company makes available, free of charge, through its website, its Annual Reports on Form 10-K, proxy statements for its annual meetings of stockholders, its Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, and any amendments to those reports, as soon as reasonably practicable after such reports are filed with or furnished to the Securities and Exchange Commission.

Also available on the Company’s website are its Corporate Governance Guidelines, its Code of Business Conduct and Ethics, and the charters for its Audit Committee, Compensation Committee, and Nominating and Governance Committee, each of which is available in print to any stockholder who makes a request to Robert Half International Inc., 2884 Sand Hill Road, Suite 200, Menlo Park, CA 94025, Attn:

Also available on the Company’s website are its Corporate Governance Guidelines, its Code of Business Conduct and Ethics, and the charters for its Audit Committee, Compensation Committee, and Nominating and Governance Committee, each of which is available in print to any stockholder who makes a request to Robert Half Inc., 2884 Sand Hill Road, Suite 200, Menlo Park, CA 94025, Attn:

Corporate Secretary.

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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.

Due to the complex regulatory environment that we operate in, we remain focused on compliance with governmental and professional organizations’ regulations.

Due to the complex regulatory environment that the Company operates in, the Company remains focused on compliance with governmental and professional organizations’ regulations.

For more discussion of the potential impact that the regulatory environment could have on our financial results, refer to Item 1A “Risk Factors.”

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