Dave Peacock: Well, I think, one, the shared labor force actually can be reinforced by what we’re doing. By having one single HR unit and taking one collective approach to talent acquisition to leverage ultimately, a similar technology across the platform, it’s only going to frankly help on the shared labor side, I think. And so yes, this, if anything, will reinforce that part of our business.
Jason English: So that labor force is one year shared services that’s effectively going to be reporting up into two groups, the branded services group and the retail services group. Is that right?
Dave Peacock: No, I think that you have to look at it as you’ve got different commercial businesses, but you’ve got one way of working for the most part. So if you think of things like performance management, you think of things like onboarding, you think of things like from hire to in position and how do you reduce that timeframe. When you centralize HR processes and systems, it helps all those situations. And I’m going to really reinforce this notion of kind of speed from hire into position. That’s one that we’ve seen just industry-wide. I mean anyone but large workforce can share that, that’s a key enabler to talent acquisition and retention. And that’s going to be better enabled when we consolidate our systems and our approach to talent acquisition.
Jason English: Okay, okay. Hopefully, I can get a little more clarity on how this is all structured as it takes shape and you start to disclose more because I’m admittedly still a little confused. The – associated with this, you are centralizing functions. Centralization of functions usually unlocks a lot of savings, but at the same time, your saying, “Geez, our systems are antiquated, our processes are a little out of date. We’ve got to spend some money to go after those.” Are those net neutralized? Or should we expect this to be a net cost savings program next year?
Dave Peacock: It’s a good question. I think to your point, it’s kind of both and. So you’re going to see an increase in investment next year. I think over time, you’re going to see the savings and the efficiencies. But we’ve got some work to do as it relates to both our systems and our talent practices to ensure that we’ve got the greatest retention levels possible with our workforce and that we’re deploying them as efficiently as possible.
Jason English: Okay. And I’m way over my normal question limit, but I’m greedy, I guess, so I’m going to squeeze in one more. I don’t want to lose track of what’s been the core issue here for the last couple of years, and that’s been pricing power and your ability to mitigate escalating labor inflation cost with price. It sounds like you’re still not caught up, like it’s not even running at a treadmill and breaking even now, you’re still leaking. So is there – I mean, is this a recognition that you’re not going to get there and you have to address the delta by attacking cost? Or is there still reason to believe that you can at least get back to a point where pricing is able to keep pace with inflation, recognizing that recovery of what’s gone is probably gone? And if there is the opportunity to get back to where you’re at least keeping pace, what’s got to change to get there? And how long is it going to take?
Dave Peacock: Yes, it’s a good question. I think as we reported, if you will, we’re narrowing that gap. We’re improving our pricing capabilities each quarter. We’re bringing in some talent as well, who really understands revenue management at its core, which will, I think, help us. You’re obviously seeing labor and wage inflation abate a bit, although still higher than traditional. You have to believe cyclically that will improve over time. But your point about cost, look, our job is to make sure that we realize the greatest value for the services we offer, that we manage our mix and that we also are as efficient as possible in what we do. And to your point, I think there’s things we can do on the cost side that can help kind of mitigate some of the inflationary pressure we’ve seen.
Jason English: Okay. Helpful. Thank you. I will pass it on.
Operator: There are no further questions at this time. I would like to turn the floor back over to Dave Peacock for closing comments. Please go ahead.
Dave Peacock: Thank you so much. Look, we feel very confident in the trajectory of the business. We feel we have a right to win with essential services, talented teammates, deep relationships and with upside to grow. And we’re also very committed on continuing to generate cash in this business and be strategic about how we manage our balance sheet and also enhance value for the shareholders. So there’s more to come. It’s an exciting time at Advantage Solutions, and we thank you for your time.
Operator: This concludes today’s conference call. You may disconnect your lines at this time. Thank you for your participation, and have a great day.
