Bob Rozek: Yes, sure. Thanks, Gary. And I think, as I said in the remarks, Q1, we expect to be kind of 13.5%. And I would say for the near-term, we would continue to manage the business to about 13% to 14%, somewhere in that range as we’re just continuing to invest in our revenue generating capacity. If the long anticipated recession were to occur, and again, depending on the severity, we would manage the business kind of mid to high-single-digits in a more severe downturn, and then low-double-digits in a more moderate scenario. And ultimately, from a longer-term perspective, I was going to depend on what the business looks like, if search bounces back, digital, we get digital where we think it’s capable of going to, as Gary alluded to, RPO is just continuing to win new business and become a larger piece of the pie.
So there’s a lot of moving pieces. But I would say, from a long-term perspective, you should expect to see us kind of in the 16% to 18% range. So down a little bit from the 18%, 19%, where we previously communicated. But I would say 16% to 18% is probably a good spot to land at this point.
Jasper Bibb: Thanks. That makes sense. And then Gary, you mentioned generative AI in the prepared remarks, I know it’s still early, but any preliminary expectations for AI risks or opportunities in the business model?
Gary Burnison: Well, we’ve got a three-fold plan. We’re going at it big time. Let me just first say that nobody knows exactly where this is going to go, so that’s number one. Even the so-called leaders in the space. It has gained a lot of attention for a very, very good reason. Could it be to the knowledge worker what the industrial revolution was to manufacturing? I don’t know if I would go that far. But clearly, it’s an opportunity for us. And so we’re really looking at it in kind of three dimensions. One is around, how we can use it offensively to drive greater impact with our clients. Two, is around our vulnerabilities. And three, is around the people that we need to partner with, the broader ecosystem to help navigate that.
But I would just say that I believe very, very strongly that in this business, and I think what we’ve proven over the years is that data and knowledge is everything. So we’ve got teams right now looking at — are we capturing all the data we can be capturing? Are we putting it in a warehouse? Can we easily access that warehouse to provide insights to our clients? Then secondly, our IP and our assessment, is that truly fit for purpose in this world that we’re heading into in the next five years, where there’s tremendous — there’s not much anticipated labor growth, there’s going to be skill shortages continuing. And is our assessments and IP fit for purpose for the next five years, the next 10 years? And I really do believe that those two things, data, insight, knowledge, our assessment, and IP, we have to make sure that we’re investing in it, because I think that — well no matter where this AI conversation goes, that ultimately, I think, will be the winner.
And so clearly, we’re using — we’ve been using AI in part of our recruiting processes for some time now. But clearly around our learning and development business. There’s an enormous opportunity there. That’s an area that we’re focused in on. But I just practically speaking, you make your path as you walk it. And I just think that data, our IP, our assessment, the knowledge that we have, we have to make sure that we are putting enough capital into the foundation of the firm.
