Heather Balsky: Hi. Thank you. I appreciate you taking my question. You talked about being nimble with your cost structure and you gave a little bit of color around headcount. I would love to hear how you’re thinking about the investments you’re making in your business, and you’ve been making your business and managing those costs. And then also with regards to headcount, I think in the past, you typically have adjusted SG&A to be kind of in line with sales, although with a lag. Is that how you’re thinking about things currently in this environment? Thanks.
Keith Waddell: We’re not thinking any differently than we traditionally have thought. As to headcounts, we adjust to topline, as we just talked about, there’s a lag of a quarter or two, but trading that against anticipating downturns that may not occur, will take that lag of a quarter or two as it relates to technology, AI innovation. The thought is our spending for 2023 will be flattish with what we spent in 2022. We’re very pleased with the returns we’ve gotten, particularly in AI. They’ve transformed how we identify and select candidates. We’re turning our attention to using AI to identify the warmest leads for our field professionals on the sales side. It’s early days, but we’re optimistic. I talked earlier about we’ve got a new website coming.
We’re replatforming that. We’re very focused on improving the digital experience of our clients and candidates. That new website will come sometime second half of the year, probably the latter part of that. So we’re continuing our innovation technology spending pretty much at a level flat with 2022, which we think is strategic and we think is appropriate. But other than that, our cost structure is the most nimble it’s ever been. Our highest cost by leaps and bounds is our branch payroll cost, and as I spoke to earlier, we have the tools to manage that individually the best we’ve had in our history.
Heather Balsky: And one quick question on the January trends. I think in the July quarter, you had noted that because of the July 4th holiday, there can sometimes be some noise in those three-week trends. I’m curious just given that January, you’re coming off the holidays, if there’s any seasonality or noise that may be in those numbers? Thanks.
Keith Waddell: Well, holiday impacts are always hard to predict. Generally speaking, I’d say for the Christmas, New Year holiday we had more clients take time off. We had more internal staff take time off, which had some impact. The view was they came back a little later than normal, but that’s anecdotal. It’s hard to get a super precise read on holiday impacts. We’ve always talked about in perm placement, which was the weakest in January as we reported. It’s also the least predictive if you take the early part of a quarter for perm, relative to the full quarter, the early part is the least predictive of the fall. And so to some extent, we always discount the post-quarter early following quarter results of perm. That said, would I’d rather be up 20% than down 20%? Sure, I would. But by the same token, we don’t get overly excited about post-quarter perm.
Heather Balsky: Thank you. Appreciate it.
Operator: We’ll take our next question from the line of Jeff Silber with BMO Capital Markets. Please go ahead, Jeff.
Jeffrey Silber: I’m going to try again. Can you hear me now?
