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Barrett Business Services, Inc. (BBSI) is a leading provider of business management solutions tailored for small and mid-sized companies. The company integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry to deliver operational efficiency and strategic guidance. BBSI offers services such as payroll processing, employee benefits, workers' compensation coverage, risk management, and workplace safety programs, helping businesses navigate the complexities of being an employer.
- Professional Employer Services (PEO) - Provides human resource outsourcing services, including payroll processing, employee benefits, workers' compensation coverage, risk management, and workplace safety programs.
- Staffing Services - Focuses on short-term staffing, contract staffing, and on-site management services to meet temporary and project-based workforce needs.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Gary E. Kramer ExecutiveBoard | President and Chief Executive Officer | CEO of BBSI since March 5, 2020, previously served as CFO and Principal Accounting Officer after joining as Vice President – Finance on August 1, 2016. | View Report → | |
Anthony J. Harris Executive | Treasurer | Anthony J. Harris joined BBSI in September 2016 as Controller and has since advanced through roles including Executive Director of Accounting and Finance, Chief Financial Officer and Principal Accounting Officer, and Executive Vice President before taking on his current role. He brings extensive experience from his previous work at PricewaterhouseCoopers LLP and Holland Partner Group, contributing significantly to BBSI's financial operations. | ||
Gerald R. Blotz Executive | Executive Vice President and Chief Operating Officer (COO) | Gerald R. Blotz is the current Executive Vice President and Chief Operating Officer (COO) at BBSI since May 2020. He joined BBSI in May 2002 as Area Manager and was later promoted to Vice President, Chief Operating Officer-Field Operations in May 2014. | ||
James R. Potts Executive | Executive Vice President, General Counsel, and Secretary | James R. Potts has been serving as Executive Vice President, General Counsel, and Secretary at BBSI since September 2020. Previously, he was a Shareholder and Chair of the Insurance, Corporate, and Regulatory Practice at Cozen O’Connor for 12 years. | ||
Alexandra Morehouse Board | Director | Member of the Board of Evalueserve, Inc.; Founding Board Member at Alliance for Multicultural and Inclusive Marketing; Member of the Board of Mutual of Enumclaw Insurance Company | Alexandra Morehouse is a director at BBSI since June 7, 2022 with extensive experience in marketing, digital transformation, and corporate governance. Previously, she served as Chief Marketing Officer & Chief Digital Officer at Banner Health from August 2015 to October 2023. | |
Anthony Meeker Board | Chairman of the Board | Director at First Federal Savings and Loan Association of McMinnville, Oregon; Director at Oregon Mutual Insurance; Involvement with MV Advancements; Involvement with Oregon State Capitol Foundation | Anthony Meeker is the Chairman of the Board at BBSI since at least 2023. He previously served as Managing Director at Victory Capital Management and Treasurer for the State of Oregon, bringing extensive financial and governance experience. | |
Carla A. Moradi Board | Director | Board Member, Patriot Growth Insurance Services, LLC | Carla A. Moradi is a Director and Chair of the Risk Management Committee at BBSI, having served on the Board of Directors since April 7, 2021. Previously, she held senior leadership roles at companies like Anaplan, Inc. and others, where she developed expertise in information technology, data security, and risk management. | |
Joseph S. Clabby Board | Vice Chairman of the Board | Joseph S. Clabby has a distinguished background in the insurance industry, having held senior executive positions at ACE Limited, Chubb Limited, and other organizations. At BBSI, he currently serves as Vice Chairman of the Board since December 13, 2024, and has been a director since September 16, 2022. | ||
Thomas B. Cusick Board | Director | Member of the Board and Chair of the Audit Committee at Rather Outdoors Corporation | Thomas B. Cusick has been a Director at BBSI since 2016 and serves as Chair of the Audit and Compliance Committee. He brings extensive leadership experience from his roles at various publicly traded companies, including his current board role at Rather Outdoors Corporation. | |
Thomas J. Carley Board | Director | Trustee and Treasurer at Tracy Memorial Library in New London, NH | Thomas J. Carley is a Director at BBSI and serves as the Chair of the Nominating Committee on the Board. He previously held the role of Interim Principal Financial and Accounting Officer at BBSI in 2016 and has extensive financial and operational leadership experience from his tenures at Urth Organic Corporation, Portal Capital, and Jensen Securities. | |
Vincent P. Price Board | Director and Chair of the Compensation Committee | Advisor to the CEO at Cambia Health Solutions, Inc. (since October 2023) | Vincent P. Price has served as a Director and Chair of the Compensation Committee at BBSI since June 7, 2022, bringing extensive financial leadership experience. He is also currently the Advisor to the CEO at Cambia Health Solutions, Inc. since October 2023, in addition to having held executive roles at Intel and Cambia Health Solutions. |
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Given that client hiring remains below long-term historical averages despite recent improvements , what specific strategies are you implementing to stimulate client hiring, and how confident are you that these measures will bring client hiring back to historical levels?
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With the continued softness and downward trend in workers' compensation pricing , how do you plan to mitigate the impact on your margins, and when do you realistically expect the workers' compensation market to bottom out?
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The Pacific Northwest region saw a 4% decline in gross billings in Q4 2024 ; what specific challenges are you facing in this region, and what steps are you taking to return it to growth in 2025?
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Despite significant investments in technology and new product development, including the recent launch of the applicant tracking system , how are you measuring the return on these investments, and what risks do you see if these new products don't achieve the expected adoption rates?
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You have mentioned that the BBSI Benefits product is now a profit center and has exceeded growth plans , but you have yet to break out the healthcare revenue in your financials ; when can investors expect more transparency in this area, and what is the potential impact on your overall margins?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Engages in staffing services, competing in the same markets and offering similar services. | |
Provides staffing services and competes in the same markets with greater financial and marketing resources. | |
Operates in staffing services and competes in the same markets, leveraging substantial resources. | |
Focuses on co-employment services, competing directly in the same markets. | |
Specializes in co-employment services and competes in the same markets. | |
Primarily provides payroll processing services and competes in the same markets. | |
Offers payroll processing services and competes in the same markets. |
Recent press releases and 8-K filings for BBSI.
- Revenues increased 10% to $292.6M with gross billings rising to $2.09B, marking a strong topline performance .
- Achieved a record Q1 performance with robust client retention, new client adds, and 7.6% growth in worksite employees .
- Reported mixed operational outcomes with a 10% decline in staffing revenues and a Q1 net loss of $1.0M .
- Implemented strategic capital allocation through a $9M share repurchase under a $75M program, a cash dividend of $2.1M, and declaration of a $0.08 per share dividend payable on June 6, 2025 .
- Drove product innovation with the rollout of BBSI Benefits and the launch of an applicant tracking system, alongside maintaining guidance for 7%-9% billings growth and 4%-6% WSE growth amid economic uncertainty .