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PeopleReady, PeopleManagement and PeopleScout.
−Removed: • PeopleReady offers on-demand, industrial and skilled trade staffing throughout the United States (“U.S.”), Canada and Puerto Rico.
+Added: • PeopleReady offers general, industrial and skilled trade staffing throughout the United States of America (“U.S.”), Canada and Puerto Rico.
• PeopleManagement offers contingent, on-site industrial staffing and commercial driver services throughout the U.S., Canada and Puerto Rico.
−Removed: • PeopleScout offers recruitment process outsourcing (“RPO”) and managed service provider (“MSP”) solutions to a wide variety of industries and geographies, primarily in the U.S., Canada, the United Kingdom and Australia.
+Added: • PeopleScout offers recruitment process outsourcing (“RPO”) and managed service provider (“MSP”) solutions to a wide variety of industries, primarily in the U.S., Canada, the United Kingdom and Australia.
PeopleReady provides access to qualified associates through a wide range of staffing solutions for on-demand contingent general and skilled labor.
−Removed: PeopleReady connects people with work in a broad range of industries that include construction, manufacturing and logistics, warehousing and distribution, waste and recycling, energy, retail, and hospitality.
−Removed: PeopleReady helped approximately 98,000 clients in fiscal 2020 be flexible and more productive by providing easy access to dependable, blue-collar contingent labor.
−Removed: Through our PeopleReady service line, we connected approximately 221,000 people with work in fiscal 2020.
−Removed: We have a network of 629 branches across all 50 states, Canada and Puerto Rico.
−Removed: Complementing our branch network is our industry-leading mobile app, JobStack TM , which connects people with work 24/7.
−Removed: This creates a virtual exchange between our associates and clients, and allows our branch resources to expand their recruiting, sales and service delivery efforts.
−Removed: JobStack is competitively differentiating our services, expanding our reach into new demographics, and improving our service delivery and work order fill rates, as we embrace a digital future.
+Added: PeopleReady connects people with work in a broad range of industries that include construction, manufacturing and logistics, warehousing and distribution, retail, waste and recycling, energy, hospitality and general labor.
+Added: PeopleReady helped approximately 94,000 clients in fiscal 2021 be flexible and more productive by providing easy access to dependable, contingent labor.
+Added: Through our PeopleReady business segment, we connected approximately 220,000 people with work in fiscal 2021.
+Added: We have a network of 619 branches across all 50 states in the U.S., Canada and Puerto Rico.
+Added: Augmenting our branch network is our industry-leading mobile app, JobStack TM , which connects people with work 24 hours a day, seven days a week.
+Added: JobStack creates a virtual exchange between our associates and clients, and allows our branch resources to expand their recruiting, sales and service delivery efforts.
+Added: JobStack is competitively differentiating our services, expanding our reach into new demographics, and improving our service delivery and work order fill rates, as we continue to execute our digital strategy.
PeopleManagement provides recruitment and on-site management of a facility’s contingent industrial workforce.
+Added: Through this business segment, we connected approximately 60,000 people with work in fiscal 2021.
In comparison with PeopleReady, services are larger in scale and longer in duration, and dedicated service teams are located at the client’s facility.
−Removed: We provide scalable solutions to meet the volume requirements of labor-intensive manufacturing, distribution and fulfillment facilities.
+Added: We provide scalable solutions to meet the volume requirements of labor-intensive manufacturing, warehousing and distribution facilities.
Our dedicated service teams work closely with on-site management as an integral part of the production and logistics process, managing all or a subset of the contingent labor for a facility or operational function.
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Centerline delivers drivers specifically matched to each client’s needs, allowing them to improve productivity, control costs, ensure compliance and deliver improved service.
+Added: Centerline offers three solutions for clients:
+Added: Our Flexible Drivers solution, which is an on-demand service helping clients find drivers where and when they need them;
+Added: our Driver Management Services solution, which offers fully outsourced recruitment and management of drivers for a client, including recruitment, management and supervision;
+Added: and our Mobile Drivers solution, which provides short-term relocation of qualified, experienced drivers for special projects or to high-need markets or remote locations where drivers are unavailable.
+Added: Through our PeopleScout business segment, we connected approximately 335,000 people with work in fiscal 2021.
PeopleScout provides RPO services that manage talent solutions spanning the global economy and talent advisory capabilities supporting total workforce needs.
−Removed: We are recognized as an industry leader for RPO services.
−Removed: Our solution is highly scalable and flexible, which allows for outsourcing of all or a subset of skill categories across a series of recruitment, hiring and onboarding steps.
−Removed: Our solution delivers improved talent quality and candidate experience, faster hiring, increased scalability, lower cost of recruitment, greater flexibility and increased compliance.
−Removed: Our clients outsource the recruitment process to PeopleScout in all major industries and jobs.
+Added: We are recognized as an industry leader for RPO services and have proven experience in major industries and a variety of positions.
+Added: PeopleScout solutions are highly scalable and flexible, which allows for outsourcing of all or a subset of skill categories across a series of recruitment, hiring and onboarding steps.
+Added: Our programs deliver improved talent quality and candidate experience, faster hiring, increased scalability, lower cost of recruitment, greater flexibility and improved regulatory compliance.
We leverage our proprietary technology platform (Affinix TM ) for sourcing, screening and delivering a permanent workforce, along with dedicated service delivery teams to work as an integrated partner with our clients.
+Added: Affinix uses artificial intelligence and machine learning to rapidly source a qualified talent pool, creating an initial slate of candidates for a job posting within minutes rather than days.
Client contracts are generally multi-year in duration and pricing is typically composed of a fee for each hire and talent consulting fees.
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Staffing companies compete both to recruit and retain a supply of associates, and to attract and retain clients who will employ these associates.
−Removed: Client demand for contingent staffing services is dependent on the overall strength of the economy and workforce flexibility trends.
+Added: Client demand for contingent staffing services is dependent on the overall strength of the economy, specific industry
+Added: and sector performance, and workforce flexibility trends.
This creates volatility for the staffing industry based on overall economic conditions.
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The human resource outsourcing industry, which includes our PeopleScout services, involves transitioning various functions handled by internal human resources and labor procurement to outside service providers on a permanent or project basis.
−Removed: Human resource departments are faced with increasingly complex operational and regulatory requirements, increased candidate
−Removed: expectations, an expanding talent technology landscape, and pressure to achieve efficiencies, which increase the need to migrate non-core functions to outsourced providers.
+Added: Human resource departments are faced with increasingly complex operational and regulatory requirements, increased candidate expectations, an expanding talent technology landscape, and pressure to achieve efficiencies, which increase the need to migrate non-core functions to outsourced providers.
The human resource outsourcing industry includes RPO and MSP solutions, which allow clients to more effectively find and engage high-quality talent, leverage talent acquisition technology and scale their talent acquisition function to keep pace with changing business needs.
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• Leveraging technology to access talent:
−Removed: Automation, artificial intelligence and machine learning are transforming talent acquisition.
+Added: Automation, artificial intelligence and machine learning are transforming talent recruitment and service delivery.
The fragmented talent technology ecosystem is becoming more crowded, with significant investments flowing in and new technology coming online rapidly.
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BUSINESS STRATEGY
+Added: Our business strategy is focused on growth in each of our business segments by investing in innovative technology and initiatives that drive organic growth and improve the client and candidate experience.
Our clients have a variety of challenges in running their businesses, each of which are unique to the competitive pressures of their industry.
−Removed: We are industry leaders dedicated to staffing solutions tailored to our clients’ needs and the industries in which they operate.
−Removed: We ensure our differentiated solutions keep pace with the changing needs of our clients through the following:
−Removed: • We continue to evaluate opportunities to expand our market presence for specialized blue-collar staffing services, expand our geographical reach, provide a broad range of blue-collar staffing services, and dispatch our associates to areas without a physical location.
−Removed: Continued investment in specialized sales, recruiting and service expertise will create a more seamless experience for our clients to access all our services with more comprehensive solutions to enhance their performance and our growth.
−Removed: Our business segments offer complementary workforce solutions with unique value propositions to meet our clients’ demands for talent.
−Removed: • We continue to invest in technology that increases our ability to attract more clients, employees and associates as well as reduce the cost of delivering our services.
−Removed: We are committed to leveraging technology to improve the experience of our associates, clients and permanent employees.
+Added: Our business segments are industry leaders dedicated to staffing solutions tailored to our clients’ needs and the industries in which they operate.
+Added: We ensure our differentiated solutions keep pace with the changing needs of our clients while driving growth through the following strategies:
+Added: • We continue to invest in technology to gain market share, accelerate revenue growth, reduce the cost of delivering our services, and increase our ability to attract and retain clients, employees and associates.
+Added: We are committed to leveraging technology to improve the experience of our associates, candidates, clients and permanent employees.
Our technological innovations make it easier for our clients to do business with us, and easier to connect associates with work opportunities and candidates to permanent employment opportunities.
−Removed: We are making significant investments in online and mobile apps to improve the access, speed and ease of connecting our clients with high-quality contingent and permanent employee workforce solutions.
−Removed: ◦ Complementing our PeopleReady branch network is our JobStack platform which connects our associates and clients through a real-time 24/7 digital exchange with an easy-to-use mobile app.
−Removed: JobStack enables our branches to expand their recruiting, sales and service delivery efforts.
−Removed: JobStack is helping to competitively differentiate our services, expand our reach into new demographics, and improve both service delivery and work order fill rates as we embrace a digital future.
+Added: We continue to make significant investments in online and mobile apps to improve the access, speed and ease of connecting our clients with high-quality contingent and permanent employee workforce solutions.
+Added: ◦ Augmenting our PeopleReady branch network is our JobStack platform, which connects our associates and clients through a real-time 24 hours a day, seven days a week digital exchange with an easy-to-use mobile app.
+Added: JobStack enables our branches to expand their recruiting and sales efforts, while allowing centralized service centers to better manage the recruiting, onboarding and service delivery efforts.
+Added: JobStack is helping to competitively differentiate our services, expand our reach into new demographics, and improve both service delivery and work order fill rates as we continue to execute our digital strategy.
Currently 95% of PeopleReady’s associates use JobStack to find on-demand work.
−Removed: During 2020, we introduced new digital onboarding features that cut application time in half, increasing the percentage of applicants put to work.
−Removed: We introduced JobStack to our clients in 2018 and by the end of 2020 over 26,000 of our clients were using JobStack to place orders for associates, rate their performance, and approve their time worked, an increase of 23%, compared to the prior year.
+Added: During 2021, we introduced new functionality allowing clients to enter hours and associates to approve hours directly in the app, which eliminates manual processing and accelerates the payroll process.
+Added: We introduced JobStack to
+Added: our clients in 2018, and by the end of 2021 over 29,000 of our clients were using JobStack to place orders for associates, rate their performance, and approve their time worked, an increase of 13%, compared to the prior year.
During fiscal 2021, PeopleReady dispatched approximately 3.4 million shifts via JobStack and achieved a digital fill rate of 58%, compared to approximately 2.9 million shifts and a digital fill rate of 53% in the prior year.
We are focused on driving growth in the number of heavy client users of JobStack.
−Removed: A heavy client user is a client who has 50 or more touches on JobStack per month.
+Added: A heavy client user is a client who has 50 or more touches (for example, entering an order or rating a worker) on JobStack per month.
Heavy client users have consistently posted better year-over-year growth rates compared to all other PeopleReady clients.
−Removed: We more than doubled our heavy client user mix
−Removed: from 11% in 2019 to 24% in 2020.
−Removed: We continue to expand functionality to further leverage this technology to transform our business and enhance our client and associate retention.
−Removed: ◦ Complementing our PeopleManagement dedicated on-site contingent workforce management is StaffTrack TM .
−Removed: StaffTrack is a proprietary technology platform that enables us to recruit and connect the best candidates with on-site assignments.
+Added: Our heavy client user mix increased to 48% of PeopleReady’s U.S.
+Added: on-demand business in 2021 from 29% in 2020.
+Added: We continue to expand functionality to further leverage this technology to transform our business by reducing expenses, accelerating revenue growth and enhancing our client and associate retention.
+Added: ◦ Augmenting our PeopleManagement dedicated on-site contingent workforce management is Stafftrack ® .
+Added: Stafftrack is a proprietary hiring and workforce management software that enables us to recruit and connect the best candidates with on-site assignments.
Stafftrack has robust, real-time analytics that drive dynamic supply chain and workforce strategies, which allow clients faster, more precise hiring and help drive operational improvements and efficiencies.
−Removed: The recently launched StaffTrack associate mobile app provides associates the ability to search for a job, view their schedules, pick-up shifts, and receive real-time notifications.
+Added: The Stafftrack associate mobile app provides associates the ability to search for a job, view their schedules, pick-up shifts and receive real-time notifications.
We continue to expand functionality within Stafftrack to further enhance our client and associate experience.
−Removed: ◦ Complementing our PeopleScout dedicated service delivery teams is our technology platform, Affinix, used for sourcing, screening and delivering a permanent workforce.
+Added: ◦ Augmenting our PeopleScout dedicated service delivery teams is our Affinix platform used for sourcing, screening and delivering a permanent workforce to our clients.
Affinix creates a consumer-like candidate experience and streamlines the sourcing process.
Affinix delivers speed and scalability while leveraging recruitment marketing, machine learning, predictive analytics and other emerging technology to make the end-to-end process seamless for the candidate.
−Removed: We will continue to invest in Affinix to further improve our ability to quickly and efficiently source the most attractive talent at the best price.
−Removed: • Our RPO services leverage innovative technology for high-volume sourcing and dedicated client service teams for connecting people to opportunities.
+Added: We continue to invest in Affinix to further improve our ability to quickly and efficiently source the most attractive talent at the best price.
+Added: • We continue to evaluate opportunities to expand our market presence for specialized blue-collar staffing services, expand our geographical reach, provide a broad range of general staffing services, and dispatch our associates without the use of a physical location within our branch network.
+Added: Continued investment in specialized sales, recruiting and service expertise will create a more seamless experience for our clients to access all our services with more comprehensive solutions to enhance their performance and our growth.
+Added: Our business segments offer complementary workforce solutions with unique value propositions to meet our clients’ demands for talent.
+Added: • Our RPO services leverage our strong brand and innovative technology for high-volume sourcing and dedicated client service teams for connecting people to opportunities.
We have a track record of helping our clients reduce the cost of hiring, add significant scalability to recruiting and hiring, and access numerous sources to quickly find the best talent, thereby delivering a better outcome for the client.
+Added: We will continue to focus our sales and marketing efforts to reach new clients as the demand for outsourced recruiting support increases.
• Our MSP business is focused primarily on managing the contingent labor programs of domestic, middle-market companies with a growing dependence on contingent labor.
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Our clients range from small and medium-sized businesses to Fortune 100 companies.
−Removed: During fiscal 2020, we served approximately 99,000 clients in industries including construction, energy, manufacturing, warehousing and distribution, waste and recycling, energy, transportation, retail, hospitality, and general labor.
+Added: During fiscal 2021, we served approximately 95,000 clients in industries including construction, energy, manufacturing and logistics, warehousing and distribution, waste and recycling, energy, transportation, retail, hospitality and general labor.
Our ten largest clients accounted for 17.2% of total revenue for fiscal 2021, 19.0% for fiscal 2020 and 16.5% for fiscal 2019.
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No single client represented more than 10.0% of total company revenue for fiscal 2021, 2020 or 2019.
−Removed: HUMAN CAPITAL RESOURCES
+Added: HUMAN CAPITAL MANAGEMENT
We believe our success depends on our ability to attract, develop and retain talented employees.
The skills, experience and industry knowledge of our employees significantly benefit our operations and performance.
−Removed: As of December 27, 2020, we employed approximately 5,200 full-time equivalent employees.
−Removed: Our employees are in eight countries with approximately 81% located in the U.S.
+Added: As of December 26, 2021, we employed approximately 6,400 full-time equivalent (“FTE”) employees.
+Added: We have approximately 5,000 FTE employees in North America, of which approximately 95% are in the U.S., 300 FTE employees in Europe, and 1,100 FTE employees in Asia Pacific.
None of our permanent employees are represented by a labor union.
−Removed: We have not experienced work stoppages and believe that our employee relations are in good standing, as evidenced by our employee engagement survey results.
+Added: We have not experienced work stoppages and believe that our employee relations are in good standing, as evidenced by our semi-annual employee engagement survey results.
Our Compensation Committee of the Board of Directors (the “Board”) regularly receives reports regarding the progress on our key human capital initiatives.
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To assess and improve our culture, we routinely utilize an independent third-party to measure how favorably our employees view our organizational culture and engagement.
−Removed: These surveys include corporate culture assessments, as well as real-time feedback on employee engagement and employee-managment relations.
+Added: These surveys include corporate culture assessments, as well as real-time feedback on employee engagement and employee-management relations.
The results of these surveys are reported and distributed throughout management and the Board, and are used to create actionable plans to improve employee engagement and retention.
−Removed: Our September 2020 survey returned an engagement score of 74, which exceeds the benchmark set by the independent survey provider of 67, and is an improvement of 1 point from our pre-COVID-19 survey completed in February 2020.
+Added: Our October 2021 survey achieved an all-time high engagement score of 78, which is an increase of 4 points from our September 2020 survey, and continues to exceed the benchmark of 67 set by the independent survey provider.
Developing our people
In order to continually attract and retain talented employees, we focus on personal development and career growth through our Full Performance program.
−Removed: Our full performance strategy for employees incorporates career planning and development, continuous learning, and creating internal career opportunities.
−Removed: We provide a range of training courses to our employees to enable more effective onboarding, work performance, compliance and advancing corporate initiatives.
+Added: Our Full Performance program for employees focuses on career planning and development, continuous learning, and the creation of internal career opportunities.
+Added: We provide a range of training courses to our employees to enable more effective onboarding, work performance, compliance and advancement of corporate initiatives.
This strategy supports our intent to foster a culture that enables all employees to realize their full professional potential and cultivates a qualified bench of future leaders.
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Our benefits include health, dental and vision insurance, health savings and flexible spending accounts, paid time off, family leave, and family care resources.
−Removed: In response to the COVID-19 pandemic, we implemented significant changes to ensure the health and safety of our employees.
+Added: Beginning in 2020, in response to the coronavirus pandemic (“COVID-19”), we implemented significant changes to ensure the health and safety of our employees.
These changes included an investment in the technology necessary to allow the majority of our support center employees to work from home and a reimbursement for certain expenses associated with moving to home-based work.
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We are dedicated to fostering, recognizing and embracing diversity at every level of the organization.
−Removed: In January 2021, we hired a Vice President of Diversity, Equity and Inclusion who reports directly to the Chief Executive Officer.
−Removed: We have assembled a diverse internal employee workforce, and are committed to making further improvements.
−Removed: For example, today, women hold nearly 50% of positions at the director level and above.
−Removed: We have a Diversity & Inclusion Council (the “Council”) which designs and launches initiatives that advance acceptance and inclusion.
+Added: Our Chief Executive Officer and executive team are committed to having opportunities and a career path for everyone in the organization.
+Added: To strengthen this commitment, in January 2021, we hired a Vice President of Diversity, Equity and Inclusion who reports directly to the Chief Executive Officer.
+Added: Our philosophy on diversity, equity and inclusion is to create an environment where every employee can experience merit-based career growth, receive the training and development they need to succeed, gain access to new opportunities, and be their authentic selves.
+Added: Today, 67% of our Board is comprised of members from under-represented groups.
+Added: As of December 26, 2021 approximately 66% of the global FTE employee population was female and approximately 50% of employees in positions at the senior management level and above were female.
+Added: Of our total domestic FTE employee population, approximately 45% consider themselves ethnically diverse.
+Added: While we believe we have assembled a diverse internal employee workforce, we are committed to making further improvements.
+Added: We have a Diversity, Equity & Inclusion Council (the “Council”) which designs and launches initiatives that advance acceptance and inclusion.
The Council reports regularly to executive leadership, who brief our Board periodically through the year.
The Council also sponsors training to build diversity and inclusion awareness, and supports Employee Resource Groups (“ERGs”), which are employee-led groups that create opportunities for employees to collaborate based on shared characteristics or life experiences to support each other for enhanced career and personal development.
−Removed: We have ERGs that include the African American Resource Connection, Be Proud (LGBTQ+), Hispanic Opportunity and Latinx Awareness, Women in Leadership, Europe, Middle East, and Africa Developing Female Talent Team, and Veteran Employee Talent Society.
−Removed: Through these experiences, we learn how our differences build stronger teams and how our histories reveal similarities.
+Added: ERGs seek to maximize employee engagement and contribute to our overall business objectives by offering diverse perspectives, networking opportunities and increased cultural awareness.
+Added: We currently have eight ERGs for employees sharing similar ethnicity, nationality, gender, lifestyle choice or life experience and their respective allies.
+Added: Through these initiatives, we learn how our differences build stronger teams and how our histories reveal similarities.
Associates are the people we put to work for our clients.
We attract our pool of associates through our proprietary mobile apps, online resources, extensive internal databases, advertising, job fairs, community-based organizations and various other methods.
−Removed: We identify the skills, knowledge, abilities and personal characteristics of our associates and match their competencies and capabilities to our client’s requirements.
+Added: We identify the skills, knowledge, abilities and personal characteristics of our associates and match their competencies and capabilities to our clients’ requirements.
This enables our clients to obtain immediate value by placing a highly productive employee on the job site.
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We are considered the legal employer of our associates, and laws regulating the employment relationship are applicable to our operations.
−Removed: We consider our relationships with our associates to be good.
+Added: We believe we have an overall positive relationship with our associates.
We remain focused and committed to associate safety.
We have developed an integrated risk management program that focuses on loss analysis, education and safety improvement programs to reduce the safety risks that may be encountered by our associates.
−Removed: We continuously monitor injuries to our associates at our customer job sites and report throughout management on our internally developed Worker Safety Ratio score in order to monitor injuries across regions, industries, and brands.
−Removed: We regularly analyze this Worker Safety Ratio to identify trends that allow us to focus our safety resources on the types of jobs that may lead to more injuries.
+Added: We continuously track injuries to our associates at our client job sites across regions, industries and brands to identify trends that allow us to focus our safety resources on the types of jobs that may lead to more injuries.
We distribute educational materials to our clients and associates, and perform client site visits to address specific safety risks unique to their industry or job site.
−Removed: In this unprecedented environment due to the COVID-19 pandemic, we have provided masks for all our associates, distributed infrared thermometers for branches and job sites, established a resource center for staff, and implemented drive-in job fairs.
+Added: In this unprecedented environment due to COVID-19, we have provided masks for all our associates, distributed infrared thermometers for branches and job sites, established a resource center for staff, and implemented drive-in job fairs to reduce person-to-person contact.
Contingent staffing services
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No single provider dominates the market.
−Removed: Competition also includes internal human resource departments that have not or are not considering outsourcing.
+Added: Competition also includes internal human resource departments that are not considering outsourcing.
The most significant competitive factors for RPO services are the ability to attract top talent, reduce cost per hire, improve retention, deploy best in breed technology solutions and improve employment branding.
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Demand is lower during the first and second quarters, due in part to limitations to outside work during the winter months and slowdown in manufacturing and logistics after the holiday season.
−Removed: Demand for contingent labor peaks during the third quarter for outdoor work and the fourth quarter for manufacturing, assembly, warehousing, distribution and logistics for the holiday season.
+Added: Demand for contingent labor peaks during the third quarter for outdoor work and the fourth quarter for manufacturing and logistics, warehousing and distribution, and retail for the holiday season.
Our working capital requirements are primarily driven by our associate payroll and client accounts receivable.
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Regulatory cost increases are passed through to our clients to the fullest extent possible.
−Removed: FINANCIAL INFORMATION ABOUT GEOGRAPHIC AREAS
−Removed: For information regarding revenue from operations and long-lived assets by domestic and foreign operations, please refer to the information presented in Note 15:
−Removed: Segment Information , to our consolidated financial statements found in Part II, Item 8 of this Annual Report on Form 10-K.
AVAILABLE INFORMATION
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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.