RGP Outlines Progress on Key Corporate Responsibility Initiatives

Rhea-AI Summary

RGP (Nasdaq: RGP), a global consulting firm, has released an update on its corporate responsibility initiatives for fiscal year 2024. Key highlights include:

• Diversity, Equity & Inclusion: 55% of U.S. workforce represented by women, including 54% at VP level and above, and 80% of C-suite. 34% of U.S. workforce racially or ethnically diverse.
• Learning & Development: Employees spent 11,910 hours on learning and development.
• Talent Retention: 9% voluntary turnover rate for internal management employees.
• Environmental Sustainability: Calculated inaugural greenhouse gas inventory for FY 2024.
• Data Privacy and Cyber Security: No material cybersecurity breaches in FY 2024.

RGP aims to enhance results for investors, employees, clients, and stakeholders through these initiatives.

Positive

• 55% of U.S. workforce represented by women, including 80% of C-suite
• 34% of U.S. workforce racially or ethnically diverse
• Employees spent 11,910 hours on learning and development
• Low 9% voluntary turnover rate for internal management employees
• No material cybersecurity breaches in FY 2024

Negative

• None.

Insights

Corporate Social Responsibility Expert

RGP's progress in corporate responsibility initiatives demonstrates a strong commitment to sustainability and ethical business practices. The company's focus on diversity and inclusion is particularly noteworthy, with 55% female representation in the U.S. workforce and 34% racial or ethnic diversity. These figures surpass many industry benchmarks, potentially enhancing RGP's reputation and appeal to socially conscious clients and investors.

The emphasis on learning and development, with 11,910 hours dedicated to employee growth, signals a long-term investment in human capital. This, coupled with a low 9% voluntary turnover rate for internal management, suggests high employee satisfaction and retention, which can lead to improved productivity and reduced hiring costs. The company's proactive approach to environmental sustainability and cybersecurity also mitigates potential risks and aligns with growing investor expectations for ESG performance.

Human Resources Analyst

RGP's human capital metrics are impressive and strategically aligned with current market trends. The gender diversity at leadership levels, particularly the 80% female representation in the C-suite, is exceptional and could serve as a competitive advantage in attracting top talent. The focus on learning and development is important in the consulting industry, where knowledge is the primary product. The low turnover rate of 9% for internal management is particularly noteworthy, as it's significantly below the industry average, which typically ranges from 13% to 18%. This stability can lead to better client relationships and knowledge retention, potentially boosting the company's bottom line through increased efficiency and client satisfaction.

IRVINE, Calif.--(BUSINESS WIRE)-- RGP (Nasdaq: RGP), a global consulting firm, today released an update on the progress the company made in its commitment to corporate responsibility initiatives in fiscal year 2024.

“As a human-first company, our brand values guide the day-to-day interactions we have with each other and our clients, and they feed directly into our human capital development strategy,” said Kate Duchene, Chief Executive Officer at RGP. “Over the past year, we conducted a materiality assessment to better understand our sustainability priorities and identify areas where we can make the greatest positive impact. Through these efforts, we identified high impact areas that will help us continue to enhance results for our investors, employees, clients and all our stakeholders.”

Key highlights from the FY 2024 period spanning June 1, 2023 to May 31, 2024 include:

• Diversity, Equity & Inclusion: RGP’s human-first culture is designed to offer flexibility and choice. As of the end of FY 2024, 55% of our U.S. workforce was represented by women, including 54% of management at the VP level and above and 80% of our C-suite. More than one-third (34%) of our U.S. workforce was racially or ethnically diverse as of the end of FY 2024, including 26% at the VP level and above and 40% of our C-Suite.
• Learning & Development: In FY 2024, RGP employees spent an estimated 11,910 hours on learning and development. The firm remains committed to investing in their long-term growth and wellbeing through learning opportunities across various learning platforms, as well as RGP’s own educational content through RGP U.
• Talent Attraction, Engagement & Retention: Research continues to demonstrate having an engaged workforce is vital to a company’s progress and success. RGP conducts regular surveys to evaluate employee satisfaction across a wide range of factors. In FY 2024, RGP’s voluntary turnover rate for internal management employees was 9%.
• Environmental Sustainability: RGP calculated its inaugural greenhouse gas (GHG) inventory covering operations from FY 2024 and intends to utilize the results to set targets in line with the Science-based Targets Initiative (SBTi).
• Data Privacy and Cyber Security: RGP utilizes the CIS CSC framework to leverage a risk-based approach in its information security program and provides its employees with monthly training on general cybersecurity and data privacy risks. In FY 2024, the firm experienced no material cybersecurity breaches.

Read more about RGP’s commitments and progress here: Corporate Social Responsibility Fact Sheet.

ABOUT RGP

Named among Forbes’ World’s Best Management Consulting Firms for 2024, RGP is a global consulting firm based in Irvine, CA (with offices worldwide) focused on delivering consulting execution services that power clients’ operational needs and change initiatives utilizing a combination of bench and on-demand, expert and diverse talent. As a next-generation human capital partner for our clients, we specialize in co-delivery of enterprise initiatives typically precipitated by business transformation, strategic transactions or regulatory change. Our engagements are designed to leverage human connection and collaboration to deliver practical solutions and more impactful results that power our clients’, employees’, and partners’ success.

Without a doubt our greatest asset and key differentiator is the quality of our talent. We attract top-caliber professionals with in-demand skill sets who seek a workplace environment characterized by choice and control, collaboration and human connection. The trends in today’s marketplace favor flexibility and agility as businesses confront transformation pressures and skilled labor shortages even in the face of protracted economic uncertainty. Our client engagement and talent delivery model offer speed and agility, strongly positioning us to help our clients transform their businesses and workplaces. Our model is especially relevant at a time where cost reduction initiatives drive an enhanced reliance on a flexible workforce to execute transformational projects.

With approximately 3,400 professionals, we annually engage with 1,800 clients around the world from 38 physical practice offices and multiple virtual offices. We are their partner in delivering on the “now of work.” Headquartered in Irvine, California, RGP is proud to have served 88% of the Fortune 100 as of May 2024.

The Company is listed on the Nasdaq Global Select Market, the exchange’s highest tier by listing standards. To learn more about RGP, visit: http://www.rgp.com. (RGP-F)

View source version on businesswire.com: https://www.businesswire.com/news/home/20240910586271/en/

RGP Investor Contact:

Jenn Ryu, Chief Financial Officer

(US+) 1-714-430-6500

jennifer.ryu@rgp.com

RGP Media Contact:

Pat Burek

Financial Profiles

(US+) 1-310-622-8244

pburek@finprofiles.com

Source: RGP

FAQ

What percentage of RGP's U.S. workforce was represented by women in FY 2024?

As of the end of FY 2024, 55% of RGP's U.S. workforce was represented by women, including 54% of management at the VP level and above and 80% of the C-suite.

How many hours did RGP employees spend on learning and development in FY 2024?

In FY 2024, RGP employees spent an estimated 11,910 hours on learning and development.

What was RGP's voluntary turnover rate for internal management employees in FY 2024?

RGP's voluntary turnover rate for internal management employees was 9% in FY 2024.

Did RGP (Nasdaq: RGP) experience any material cybersecurity breaches in FY 2024?

No, RGP reported experiencing no material cybersecurity breaches in FY 2024.