What changed in this filing

/stocks — the workspaceLOADING

Item 1. Business

2024-02-21 compared with 2023-02-15 · 96 added, 76 removed, 154 unchanged (53% of the section changed)

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Our operations are managed as three business segments:

PeopleReady, PeopleManagement and PeopleScout.

• PeopleReady offers general, industrial and skilled trade staffing throughout the United States of America (“U.S.”), Canada and Puerto Rico.

• PeopleScout offers recruitment process outsourcing (“RPO”), talent advisory services and managed service provider (“MSP”) solutions to a wide variety of industries, primarily in the U.S., Canada, the United Kingdom and Australia.

• PeopleManagement offers contingent, on-site industrial staffing and commercial driver services throughout the U.S., Canada and Puerto Rico.

PeopleReady connected approximately 220,000 people with work in fiscal 2022 within a broad range of industries that include construction, transportation, manufacturing, retail, hospitality and renewable energy.

PeopleReady, PeopleScout and PeopleManagement.

PeopleReady connected approximately 195,000 people with work in fiscal 2023 within a broad range of industries that included construction, transportation, manufacturing, retail, hospitality and renewable energy.

We connected individuals looking for general temporary, temp-to-hire and skilled trade positions with our vast network of clients.

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Our services range from providing one associate to hundreds, and are generally short-term in nature as they are filling the contingent staffing needs of our clients.

We have a network of approximately 600 branches across all 50 states in the U.S., Canada and Puerto Rico.

Augmenting our branch network and consolidated service centers is our industry-leading mobile app, JobStack TM , which connects people with work 24 hours a day, seven days a week.

JobStack creates a digital exchange between our associates and clients, and allows our branch resources to expand their recruiting, sales and service delivery efforts.

JobStack is competitively differentiating our services, expanding our reach into new demographics, and improving our service delivery and fill rates, as we continue to execute our digital strategy.

Our PeopleScout business, a global leader in RPO services, connected approximately 335,000 people with work in fiscal 2022.

Our RPO solutions are multi-year in duration, highly scalable and provide clients the support they need as their hiring volumes fluctuate.

We tailor our services based on individual client needs, including sourcing, screening, hiring and onboarding, to improve the candidate experience and regulatory compliance, and ultimately lower their recruiting costs.

Our proprietary technology platform (Affinix TM ) uses artificial intelligence and machine learning to rapidly source a qualified talent pool within minutes rather than days, and further engages candidates through a seamless digital experience.

Affinix provides real-time insights into our clients, helping our dedicated service delivery teams efficiently and effectively manage the entire recruitment process.

Client contracts are generally multi-year in duration and pricing is typically composed of a fee for each hire and talent consulting fees.

We have a network of approximately 600 branches across all 50 states in the United States (“U.S.”), Canada and Puerto Rico.

Augmenting our branch network and consolidated service centers is our industry-leading mobile app, JobStack ® , which connects people with work 24 hours a day, seven days a week.

JobStack creates a digital exchange between our associates and clients, competitively differentiates us, and allows our branch resources to expand their sales, recruiting and service delivery efforts.

PeopleScout, a global leader in recruitment process outsourcing (“RPO”) services, connected approximately 224,000 people with work in fiscal 2023, primarily in the U.S., Canada, the United Kingdom and Australia.

Our RPO solutions are generally multi-year in duration, highly scalable and provide clients the support they need as their hiring volumes fluctuate.

Our services are designed to lower client recruiting costs while improving the candidate experience by creating strategies that facilitate our clients’ talent acquisition, development and retention goals.

To do so, we tailor our services to individual client needs by offering multiple solutions, including the following:

• Full-cycle RPO solution:

Provides oversight of the entire talent acquisition strategy, including sourcing, screening, hiring and onboarding of candidates.

• Project RPO solution:

Brings a full-scale RPO model to solve a specific client challenge for a defined scope of work and time.

• Recruiter on demand solution:

Provides access to a network of highly-skilled talent acquisition experts, giving clients the option to choose the type of support they need with less cost and complexity than ramping up their internal teams.

• Talent advisory solution:

Provides employer branding, recruitment marketing, talent insights, diversity, equity and inclusion consulting, candidate assessment services and talent acquisition strategy consulting.

Our proprietary technology platform, Affinix ® , uses machine learning to rapidly source a qualified talent pool within minutes, and further engages candidates through a seamless digital experience.

Affinix provides real-time insights to our clients, helping our dedicated service delivery teams efficiently and effectively manage the entire recruitment process.

Client contracts are generally multi-year in duration and pricing is typically composed of a fee for each hire and/or talent consulting fees.

Pricing is impacted by factors such as geography, volume, job type, degree of recruiting difficulty, and the scope of outsourced recruitment and employer branding services included.

PeopleScout also includes our MSP business, which manages our clients’ contingent labor programs including vendor selection, performance management, compliance monitoring and risk management.

PeopleScout also includes our managed service provider (“MSP”) business, which manages our clients’ contingent labor programs including vendor selection, performance management, compliance monitoring and risk management.

As the client’s exclusive MSP, we have dedicated service delivery teams, which work as an integrated partner with our clients to increase the productivity of their contingent workforce program.

PeopleManagement connected approximately 45,000 people with work in fiscal 2023.

Our On-Site business provides and manages contingent associates at clients’ facilities through our Staff Management | SMX (“Staff Management”) and SIMOS Insourcing Solutions (“SIMOS”) branded services.

Our client engagements are generally multi-location and multi-year, and include scalable recruiting, screening, hiring and management of the contingent workforce.

Once operational, we deploy dedicated management and service teams that work side-by-side with a client’s full-time workforce.

We deploy dedicated management and service teams that work side-by-side with a client’s full-time workforce.

Our teams are an integral part of the production and logistics process, and specialize in labor-intensive manufacturing, warehousing and distribution.

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Centerline offers three solutions for clients:

Our Flexible Drivers solution, which is an on-demand service helping clients find drivers where and when they need them;

our Driver Management Services solution, which offers fully outsourced recruitment, management and supervision of drivers for a client;

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.

• Flexible Drivers solution:

On-demand service helping clients find drivers where and when they need them.

• Driver Management Services solution:

Fully outsourced recruitment, management and supervision of drivers for a client.

• Mobile Drivers solution:

Short-term relocation of qualified, experienced drivers for special projects or to high-need markets or remote locations where drivers are unavailable.

INDUSTRY AND MARKET DYNAMICS

The staffing industry, which includes our PeopleReady and PeopleManagement businesses, supplies contingent workforce solutions to minimize the cost and effort of hiring and managing permanent employees.

This allows for rapid response to changes in business conditions through the ability to replace absent employees, fill new positions, and convert fixed or permanent labor costs to variable costs.

The staffing industry, which includes our PeopleReady and PeopleManagement businesses, plays a key role in many employers’ talent strategies.

Staffing companies supply contingent workforce solutions to ensure the best return on talent investment, optimize talent for business circumstances, and reduce the cost and effort of hiring and managing permanent employees.

This allows for a rapid response to changes in business conditions through the ability to replace absent employees, fill new positions, and convert fixed or permanent labor costs to variable costs.

Staffing companies act as intermediaries to match available associates with employer work assignments.

Work assignments vary widely in duration, skill level and required experience.

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.

The human resource outsourcing industry, which includes our PeopleScout business, involves transitioning various functions handled by internal human resources and labor procurement departments to outside service providers on a permanent or project basis.

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 our RPO and MSP businesses, 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.

The human resource outsourcing industry includes our RPO and MSP services, 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.

Our workforce solutions address the following key industry and market trends contributing to anticipated growth:

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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.

The fragmented talent technology ecosystem is becoming more crowded, with significant investments flowing in and new technology coming online.

Associates are demanding more flexibility in how, when and where they work, as well as access to contingent work opportunities through mobile technology.

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BUSINESS STRATEGY

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 business strategy is focused on investing in innovative technology and initiatives that will drive organic growth and improve the client, candidate and associate experience.

Our clients have a variety of challenges in running their businesses, each of which are unique to the competitive pressures of their industries.

Our business segments are industry leaders dedicated to workforce solutions tailored to our clients’ needs and the industries in which they operate.

Our business segments are dedicated to workforce solutions tailored to our clients’ needs and the industries in which they operate.

We ensure our differentiated solutions keep pace with the changing needs of our clients while driving growth through the following strategies:

• 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.

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.

We continue to make significant investments in technology to improve the access, speed and ease of connecting our clients with high-quality contingent and permanent employee workforce solutions.

• We continue to invest in technology to accelerate revenue growth, reduce the cost of delivering our services, and increase our ability to attract and retain clients, candidates and associates.

Our technological innovations improve the access, speed and ease of connecting our clients with high-quality contingent and permanent employee workforce solutions.

◦ 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.

JobStack enables our branches to expand their recruiting and sales efforts.

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 97% of PeopleReady’s associates use JobStack to find on-demand work.

By the end of 2022, over 30,000 of our clients were using JobStack to place orders for associates, rate their performance, and approve their time worked, an increase of 2% compared to the prior year.

During fiscal 2022, PeopleReady associates completed approximately 3.4 million shifts dispatched via JobStack, which represented 64% of all completed shifts.

In fiscal 2021, 58% of completed shifts were dispatched via JobStack.

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.

◦ 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.

We continue to invest in Affinix to further improve our ability to quickly and efficiently source the most attractive talent at the best price.

◦ Augmenting our PeopleManagement dedicated on-site contingent workforce management is Stafftrack ® .

JobStack is competitively differentiating our services, expanding our reach into new demographics, and improving both service delivery and work order fill rates as we continue to execute our digital strategy.

We are in the early stages of launching a new, proprietary version of JobStack that provides a more customized experience for our clients and associates.

During fiscal 2023, we made the new JobStack app accessible to a limited number of PeopleReady branches, and will continue the rollout to additional branches in fiscal 2024.

Through the new version of JobStack, we will continue to periodically add features and

enhancements 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.

◦ Augmenting our Staff Management and SIMOS dedicated on-site teams is Stafftrack ® .

Stafftrack is a proprietary hiring and workforce management software that enables us to recruit and connect the best candidates with on-site assignments.

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We continue to expand and build functionality within the mobile app to enhance the overall driver experience.

• 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.

◦ 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.

We continue to invest in Affinix to further improve our ability to quickly and efficiently source the most attractive talent at the best price.

• We continue to evaluate opportunities to expand our market presence for specialized blue-collar staffing services, expand our geographical and industry reach, provide a broad range of general staffing services, and dispatch our associates by leveraging a combination of technology and local market presence.

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.

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We will continue to focus our sales and marketing efforts to reach new clients as the demand for outsourced recruiting support increases.

• Our fiscal 2024 business strategy is focused on accelerating business growth to capture market share, while enhancing our profitability.

Key elements of this strategy include advancement of our digital transformation, expansion in high-growth and under-penetrated end markets, and evaluating and simplifying our operating structure.

While we will continue to go to market under our current, well-established brands, streamlining our organization will create opportunities to reduce inefficiencies and bring our teams closer to our clients and associates, enabling greater focus on operational excellence, cross-selling and innovation.

With a more focused structure, we will be better able to leverage our strengths and assets to deliver long-term, profitable growth.

Contingent staffing services

The staffing industry is large and highly fragmented with large publicly-held companies as well as privately-owned companies on a national, regional and local level.

The staffing industry is large and highly fragmented, including large publicly-held companies as well as privately-owned companies on a national, regional and local level.

No single company has a dominant share of the industry.

We compete primarily with local and regional companies, as well as internet-based companies providing a variety of flexible workforce solutions.

We compete primarily with local and regional companies, as well as online and app-based companies providing a variety of flexible workforce solutions.

The strongest staffing services competitor in a particular market is a company with established relationships and a track record of meeting the clients’ needs.

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Staffing companies compete both to recruit and retain a supply of associates, and to attract and retain clients who will utilize these associates.

Client demand for contingent staffing services is dependent on the overall strength of the economy, specific industry and sector performance, and workforce flexibility trends.

Client demand for contingent staffing services is heavily influenced by the overall strength of the economy and labor market, specific industry and sector performance, and workforce flexibility trends.

This creates volatility for the staffing industry based on overall economic conditions.

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Competitive forces have historically limited our ability to raise our prices to immediately and fully offset the increased costs of doing business, some of which include increased associate wages, workers’ compensation costs, unemployment insurance and health care.

We believe we derive a competitive advantage from our service history, our specialized approach in serving the industries of our clients, and our mobile apps, which connect associates with jobs and create virtual exchanges between our associates and clients.

Our PeopleReady JobStack and PeopleManagement Stafftrack mobile apps are helping to competitively differentiate our services, expand our reach into new demographics, and improve our recruiting, sales and service delivery.

We have a competitive advantage from our service history, our specialized approach in serving the industries of our clients, and our mobile apps, which connect associates with jobs and create virtual exchanges between our associates and clients.

Our JobStack and Stafftrack mobile apps are competitively differentiating our services, expanding our reach into new demographics, and improving our recruiting, sales and service delivery.

Our national presence, industry specialization, investment in technology, and proprietary systems and processes, together with specialized programs focused on worker safety, risk management, and legal and regulatory compliance, are key differentiators from many of our competitors.

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Competition also includes companies that choose to perform recruiting in-house.

The most significant competitive factors for RPO services are the ability to attract top talent, reduce cost per hire, improve retention, deploy best-in-class technology solutions and improve employment branding.

Important factors for success in RPO services include the ability to add significant scalability to a client’s recruiting and hiring efforts, including accommodating seasonal and irregular hiring;

the ability to increase efficiency by standardizing processes and facilitating transitions for candidates and employees;

and the ability to source the most attractive talent at the best price.

Important factors for success in RPO services include the ability to add significant scalability to a client’s recruiting and hiring efforts, including accommodating seasonal and irregular hiring, the ability to increase efficiency by standardizing processes and facilitating transitions for candidates and employees, and the ability to source the most attractive talent at the best price.

Our tailored solutions, client partnerships, proprietary technologies and service delivery are key differentiators from many of our competitors.

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Our ten largest clients accounted for 20.5% of total revenue for fiscal 2023, 19.2% for fiscal 2022 and 17.2% for fiscal 2021.

Our single largest client for fiscal 2022 accounted for 3.1% of total company revenue.

No single client represented more than 10.0% of total company revenue for fiscal 2023, 2022 or 2021.

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Clients tend to use a contingent workforce to supplement their existing workforce and generally hire permanent employees when long-term demand is expected to increase.

As a consequence, our revenue from services tends to increase quickly when the economy begins to grow.

Conversely, our revenue from services decreases quickly when the economy begins to weaken and contingent staff positions are eliminated, permanent hiring is frozen, and turnover replacement diminishes.

As a consequence, our revenue tends to increase quickly when the economy begins to grow.

Conversely, our revenue decreases quickly when the economy begins to weaken and contingent staff positions are eliminated, permanent hiring is frozen, and turnover replacement diminishes.

Our business experiences seasonal fluctuations for contingent staffing services.

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HUMAN CAPITAL MANAGEMENT

TrueBlue is The People Company ® .

We specialize in connecting people with work and discovering solutions to our clients’ workforce needs.

Our team has extensive experience in a variety of industries, and is highly focused on the safety of our workforce.

Human capital management is at the heart of what we do every day.

Our employees

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None of our permanent employees are represented by a labor union.

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 regularly receives reports regarding the progress on our key human capital initiatives.

We have not experienced work stoppages and believe that our employee relations are in good standing, as evidenced by our periodic employee engagement survey results.

The appropriate committees of the Board of Directors (“Board”) regularly receive reports directly from the Chief People Officer and Chief Diversity Officer regarding the progress on our key human capital initiatives, including updates on diversity, equity and inclusion initiatives and progress.

These reports inform discussions regarding the development, retention and engagement of our employees.

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Values and ethics

Our commitment to certain core values are what we believe attract and more importantly retain individuals who live these values.

Our commitment to certain core values is what we believe attracts and, more importantly, retains individuals who live these values.

Our values are:

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It reflects who we are, how we work, and is based on our core values and the law.

The Code applies to members of the Board of Directors (the “Board”), officers and all other employees who work for TrueBlue and its affiliates worldwide.

We require all of our employees to complete our Code training, as well as courses about sexual harassment awareness and prevention.

The Code applies to members of the Board, officers and all other employees who work for TrueBlue and its affiliates worldwide.

We require all of our employees to complete our Code training, as well as courses about sexual harassment awareness and prevention and cybersecurity awareness.

Culture and engagement

We believe a strong corporate culture includes an emphasis on employee engagement.

As we have continued to utilize a hybrid work model, we have utilized live and recorded video town hall meetings to ensure employees throughout the company remain engaged, connected to leadership, and focused on our values and business strategies.

To assess and improve our culture, we utilize an independent third-party to measure how favorably our employees view our organizational culture and engagement.

As we have continued to maintain remote and hybrid work models, we have utilized live virtual and recorded video town hall meetings to ensure employees throughout the company remain engaged, connected to leadership, and focused on our values and business strategies.

To assess and improve our culture, we utilize an independent third-party survey provider to measure how favorably our employees view our organizational culture and engagement.

These surveys include corporate culture assessments, as well as 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.

Our October 2022 survey achieved an engagement score of 78, consistent with our October 2021 survey, which exceeds the benchmark score of 75 set by the independent third-party survey provider.

Our August 2023 survey delivered an engagement score of 77, which exceeded the target benchmark score of 74 set by the survey provider.

Developing our people

In order to retain talented employees, our Full Performance program focuses on personal development and career growth through setting and monitoring performance goals, continuous learning, and the creation of internal career opportunities.

Employees create individual development plans, identify specific skill gaps and development goals, and chart a path for career growth.

Employees are encouraged to create individual development plans, identify specific skill gaps and development goals, and chart a path for career growth.

We aim to strengthen skills that transfer across roles, business segments and functions.

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This standardized process also ensures employees in similar positions are similarly evaluated.

To support employee growth, we provide access to a wide range of training courses to enable more effective onboarding, work performance, compliance and advancement of corporate initiatives.

To support employee growth, we provide access to a wide range of training and development programs 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 network of future leaders.

During 2022, our employees completed nearly 37,000 training courses.

During 2023, our employees completed nearly 21,000 trainings.

Supplementing our Full Performance program, we launched an enterprise-wide Global Mentorship Program in 2020.

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In 2022, we introduced the Diversity, Equity & Inclusion stream, which gave employees the opportunity to be paired based on alignment with common personal characteristics.

In 2022, we launched the Leadership BluePrint program, available to all global people leaders.

In 2023, we offered targeted and bespoke programs to senior leadership teams and select high-potential leaders.

These leadership development programs, solutions, and services were designed to build leadership capabilities and behaviors in alignment with our internal competency model.

This demonstrates our commitment to growing internal talent, while enhancing leadership proficiency, and positioning TrueBlue leadership for current and future roles.

Diversity, equity and inclusion

We are dedicated to fostering, recognizing and embracing diversity at every level of the organization.

Our focus on diversity, equity and inclusion demonstrates that we believe human capital is one of our most valuable assets.

We strive to create an environment that supports and values our people.

TrueBlue’s ability to embrace inclusion helps to attract and retain excellent talent, boost innovation, foster collaboration, and increase employee engagement.

Because our client population is comprised of a wide variety of demographics and backgrounds, having a diverse workforce boosts client perception of the organization, improves the client experience, helps us be responsive to our clients’ needs, and increases client satisfaction.

Our Chief Executive Officer and executive team are committed to having opportunities and a career path for everyone in the organization.

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The Council sponsors training to build diversity and inclusion awareness, and supports our Employee Resource Groups (“ERGs”).

ERGs 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.

ERGs seek to maximize employee engagement and contribute to our overall business objectives by offering diverse perspectives, networking opportunities and increased cultural awareness.

We have eight ERGs for employees sharing similar ethnicity, nationality, gender, or life experience and their respective allies.

Our ERGs 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.

These ERGs seek to maximize employee engagement and contribute to our overall business objectives by offering diverse perspectives, networking opportunities and increased cultural awareness.

We have nine ERGs for employees sharing similar ethnicity, nationality, gender, or life experiences and their respective allies.

Through these initiatives, we learn how our differences build stronger teams and how our histories reveal similarities.

In 2022, we launched live unconscious bias training for employees facilitated by our Chief Diversity Officer.

In 2023, we launched the Global Culture Awareness campaign, which focused on the unique cultures of six countries we operate in.

Our focus on diversity, equity and inclusion creates 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.

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We provide our employees and their families with flexible health and wellness programs, including competitive benefits.

Our benefits include health, dental and vision insurance, health savings and flexible spending accounts, paid time off, family leave, and family care resources.

Our benefits include health, dental and vision insurance, health savings and flexible spending accounts, paid time off, family leave, mental health resources and family care resources.

Our associates

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We provide our associates meaningful work and the opportunity to improve their skills.

Through our Bridges to Work program, we provide work opportunities for individuals that have been under-represented in the workforce, such as the long-term unemployed or those with challenging backgrounds.

Through our Work-Up program, we provide skills training and career development for associates.

Through our WorkUp program, we provide skills training and career development for associates.

We are expanding the program into select markets where we operate.

During 2023, we established an approved apprenticeship program to support skills development and long-term employment in the renewable energy industry, and launched a commercial truck driver training scholarship for female truck drivers.

We are considered the legal employer of our associates, and laws regulating the employment relationship are applicable to our operations.

We believe we have an overall positive relationship with our associates.

We remain committed to associate safety.

We are committed to our associates’ safety.

We have developed an integrated risk management program that focuses on loss analysis, education and safety improvement programs to reduce the risk of injury to our associates.

We designed an employee incentive compensation program tied to metrics that promote associate safety.

We implemented an employee incentive compensation program tied to metrics that promote associate safety.

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.

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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.

What changed 10-K

Item 1. Business