Jerry Grisko: Yeah. Hey, Marc, it’s Jerry. As we’ve said, again, kind of one of the very favorable characteristics of our business is that we’re not overly concentrated in one industry. We’re obviously not overly concentrated in any single geography. So those — oftentimes, when you see when you see impact one way or another it might be in the tech center sector or the energy sector, the health care sector. We don’t have those high concentrations. So I would say across our broad-based client in industries where we’re hearing, I think, a reasonable level of optimism, as we would generally see among middle market clients, as to the environment that they’re in today and the prospects for the rest of the year, we’re not seeing a really different sentiment in one industry over the other.
I guess, if I had to call one out, I think we’d call out Construction I think with rising — with the interest rates where they are today and cost of materials and a number of other factors, maybe the construction industry one might be one that’s a little bit more tepid at this point. But short of that, I wouldn’t see — we’re not hearing anything from our clients that would that would be favorable or unfavorable in the industry. The second thing is the geography, and I would say the same thing there, generally seeing nice growth and nice strength across all geographies.
Marc Riddick: Excellent. And then could you maybe spend a little time maybe what you might be looking at as far as at least maybe between now and the end of the year or just generally near-term investments internally that you might be looking at? Or anything that you’d sort of like to sort of highlight us to reinvest in future growth opportunities?
Jerry Grisko: Yeah. So I don’t think anything outside the ordinary. I mean, we always have a long list of investments that we’re considering to continue to make the business more efficient and to continue to bring differentiated products and solutions to the client and to accelerate growth. So on the growth acceleration, obviously, we’ve talked for years about our investments in producers. We continue to make those investments. We continue to make significant investments in the tools that will make us more efficient, including generative AI and blockchain and those types of tools that are generally embedded in third-party products, but we have an innovation group that’s focused on understanding what those products are and how they may impact the business.
So there is a list of investments. We continue to make those. We have made those. We continue to make those throughout the year. But I don’t think anything beyond what we’ve — what you’re accustomed to within our models within our financial performance.
Ware Grove : Yes, Mark, this is Ware. Just from an operating standpoint, we talk about these from time to time just the increase in what we’ll call investment in hiring new producers, just because of the ramp-up time, it’s considered an investment for the first 12 to 24 months. And so that has had kind of a choppy impact on our benefits and insurance margins, as we’ve hired more or less from time-to-time. You’re seeing right now in the first quarter kind of the wraparound impact on margins with our Benefits and Insurance group with hires that were done in 2023 that now impact first quarter of 2024. We also are increasing resources in our national tax office and that’s a revenue generating resource. So, again, there might be a timing difference between the hiring and the investment versus the revenue.
So we kind of view that as an investment. And then thirdly, we’re beefing up our offshoring capabilities and capacity. So we’ve gone from 30 to 40 to 50 and on upwards in terms of offshore resources. They’re highly seasonal, but they’re committed resources for us throughout the year and beyond kind of tax and accounting, we also use them for some of the consulting services throughout the year as well. So those are three areas where as with any management team, we’re weighing the timing of those investments against the payback. And those are three examples of what we’re doing that are tangible examples.
Marc Riddick: Awesome. Thank you very much.
Operator: This concludes our question-and-answer session. I would like to turn the conference back over to Jerry Grisko for any closing remarks.
Jerry Grisko: Thank you everybody. Before we wrap up today, I want to take an opportunity as we always do to thank our shareholders and our analysts for your continued support of our team and of the company. I also want to take this opportunity to recognize and thank our team. As we started today’s call, we outlined the great start that we’ve had to the year. I want to recognize that we’re just wrapping up another very busy tax season within our accounting attacks group with many team members across the company working very long hours to go above and beyond for our clients and our team. Our team is obviously what makes our results possible. And I continue to be inspired and impressed by our team’s dedication to our clients, their commitment to supporting each other and to driving growth within the company.
So, for our team, I want to say thank you for your support. Your exceptional efforts and your focus on what we can achieve together by harnessing the power of one CBIZ. Thank you and enjoy your day.
Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.
