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Overview
Barrett Business Services Inc (BBSI) is a comprehensive provider of business management solutions that expertly blends human resource outsourcing with professional management consulting practices. The company specializes in delivering integrated payroll processing, staffing services, and workforce management solutions. By unifying payroll administration, HR outsourcing and risk management services onto a single operational platform, BBSI empowers small and medium-sized businesses to optimize efficiency and maximize their human capital investments.
Core Business Areas
BBSI focuses on two main service categories: Professional Employer Services and Staffing Services. Its professional employer services encompass payroll management, payroll tax administration, and workers’ compensation coverage solutions, along with workforce management tasks including employee recruitment, onboarding and termination processes. On the staffing side, the company offers temporary staffing, contract staffing, and direct placement solutions to support varied business needs.
Market Position and Competitive Differentiation
Operating across the United States, BBSI has established itself as a major provider in the HR and business management sector. The company differentiates itself by integrating traditionally separate services into one cohesive platform, enabling clients to benefit from streamlined operations and a unified approach to managing human resources. The integrated model of combining payroll processing, employee benefits, and risk management not only adds value but also positions BBSI uniquely against competitors who may focus on only a single aspect of business management.
Operational Excellence and Service Offerings
BBSI emphasizes operational efficiency and robust service delivery through its comprehensive solutions:
- Payroll Administration: Ensuring timely and accurate payroll processing, payroll tax services, and regulatory compliance.
- Professional Employer Services: Offering a suite of services that cover workers’ compensation, risk management and workforce lifecycle support.
- Staffing Solutions: Providing temporary, contract, and direct hire staffing models to satisfy diverse client requirements.
- Integrated HR Outsourcing: Streamlining human resource functions to reduce administrative overhead and enhance workforce management.
Client Services and Industry Expertise
The company serves a broad spectrum of industries by leveraging deep operational insights and a commitment to service excellence. With a client portfolio that spans various sectors, BBSI meets unique business challenges by offering tailor-made solutions that improve internal efficiencies and handle complex workforce management issues. The focus on delivering a seamless human resource outsourcing experience is underpinned by expert knowledge in compliance and risk management.
Key Value Propositions
Barrett Business Services Inc stands out by providing a hybrid approach that unites consulting expertise with outsourced HR administration. This comprehensive platform helps clients navigate the complexities of payroll, tax administration and staffing, offering them a single point of contact for multiple administrative needs. The company’s deep industry understanding and strategic operational model are central to improving business efficiency and supporting effective workforce management.
Conclusion
By integrating multiple facets of business management into one unified service offering, BBSI remains a pivotal player in the HR outsourcing and professional management consulting landscape. The combination of payroll administration, comprehensive staffing services and risk management solutions enables businesses to focus on core operations while mitigating administrative burdens. This approach not only optimizes operational performance but also strengthens the company's reputation for expertise and reliability in the competitive business management industry.
Barrett Business Services, Inc. (BBSI) has appointed Rachael Stutzman as Senior Vice President of Sales and Marketing, reporting to COO Gerald Blotz. Stutzman, who joined BBSI in 2014 and rose through the ranks due to her impressive performance, will oversee the company's sales and marketing efforts. Her prior experience includes ownership of YourHealthCredit and serving as Vice President of Sales for CareCredit. Stutzman's promotion is expected to enhance BBSI’s growth strategy and client service.
Barrett Business Services (BBSI) reported Q1 net revenues of $218.4 million, slightly down from $219.1 million in the prior year, amid a 2% increase in gross billings to $1.47 billion. The average worksite employees (WSEs) decreased by 6%, contributing to a net loss of $4.6 million, or $(0.60) per diluted share, compared to a $3.4 million loss, or $(0.45) per diluted share, a year earlier. Unrestricted cash and investments rose 52% to $142.7 million. BBSI revised its full-year outlook, now expecting gross billings growth of 5% to 7% and WSE growth of 2% to 4%.
BBSI (NASDAQ: BBSI), a prominent provider of business management solutions, will hold a conference call on May 5, 2021, at 5:00 p.m. Eastern time, to discuss its financial results for Q1 2021. CEO Gary Kramer and CFO Anthony Harris will lead the call, which will include a Q&A session. Interested parties can dial in or access the live broadcast on the company's website. A replay of the call will be available through June 5, 2021. BBSI serves over 7,500 clients across the U.S., offering a unique operational platform that enhances business efficiency.
The board of Barrett Business Services (BBSI) appointed Carla A. Moradi as an independent director, effective April 7, 2021, expanding the board to nine members. Moradi, Senior VP at Anaplan, has prior experience as EVP of Operations and Technology at HUB International and CIO at Walgreens Boots Alliance. Chairman Anthony Meeker highlighted her expertise in technology and business expansion as valuable for BBSI’s strategic initiatives. Moradi expressed enthusiasm for partnering with the company to achieve client success.
Barrett Business Services, Inc. (BBSI) reported Q4 2020 net income of $7.2 million ($0.93/share), down from $11.7 million ($1.51/share) a year ago. Full Year 2020 results showed net income of $33.8 million ($4.39/share), a decline from $48.3 million ($6.27/share) in 2019. Net revenues decreased 5% in Q4 to $233.2 million and 7% for the year to $880.8 million, largely due to the COVID-19 pandemic. However, unrestricted cash and investments rose 34% to $169.9 million. BBSI expects 2021 gross billings growth of 2%-5% and an increase in average worksite employees of 1%-3%.
BBSI (NASDAQ: BBSI) will hold a conference call on March 3, 2021, at 5:00 p.m. ET to review its Q4 and full-year financial results for 2020. Prior to the call, BBSI will release its financial results. The call will feature CEO Gary Kramer and CFO Anthony Harris, followed by a Q&A session. Interested parties can access the live broadcast or replay via the BBSI website. For those wishing to participate, dial-in numbers and a Conference ID are provided. A replay of the call will be available until April 3, 2021.
Barrett Business Services (BBSI) reported third-quarter 2020 results, with revenues down 8% to $227.5 million and net income at $18.5 million, or $2.40 per diluted share, compared to $25.0 million, or $3.24 per diluted share a year ago. Despite the decline in gross billings, the company witnessed an 8% increase in unrestricted cash and investments, totaling $147.9 million. BBSI announced a raised EPS guidance for 2020 to $4.10 from $3.70 and reaffirmed its quarterly dividend of $0.30. The results reflect resilience amidst ongoing economic challenges due to COVID-19.
Barrett Business Services, Inc. (BBSI) will host a conference call on November 4, 2020, at 12:00 p.m. Eastern time to discuss its Q3 2020 financial results. The call will be led by CEO Gary Kramer and CFO Anthony Harris, followed by a Q&A session. Participants can access the call via a toll-free number or through the BBSI website. A replay will be available later the same day until December 4, 2020. BBSI specializes in integrating business management solutions, including HR outsourcing and consulting, for over 7,200 clients across 31 states.
Barrett Business Services, Inc. (BBSI) has expanded its operations to Glendale, AZ, aiming to support local business owners through its business management solutions. With over 70 years of experience, BBSI focuses on providing HR, payroll, and staffing services to help companies realize their potential. Doug Fiscella has been appointed as the Area Manager for the Glendale branch, bringing over 20 years of entrepreneurial experience to the role. This strategic move enhances BBSI's presence in the market, offering tailored support to clients and fostering regional business growth.
Barrett Business Services, Inc. (BBSI) has appointed James R. Potts as Executive Vice President and General Counsel, a newly created role. Potts, who has over 25 years of legal experience, joins from Cozen O’Connor and will oversee BBSI’s legal, governance, and compliance functions while being part of the senior management team. CEO Gary Kramer expressed confidence in Potts’ expertise to enhance the company's strategic and legal framework. BBSI provides comprehensive business management solutions to over 7,200 clients across 31 states.
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