Barrett Business Services, Inc. (BBSI): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama dinámico de Workforce Management, Barrett Business Services, Inc. (BBSI) surge como una potencia estratégica, que ofrece soluciones transformadoras para pequeñas y medianas empresas que buscan una subcontratación integral de recursos humanos. Al combinar ingeniosamente la experiencia de la organización de empleadores profesionales (PEO) con tecnología de vanguardia y servicio personalizado, BBSI proporciona un modelo comercial robusto que simplifica desafíos de empleo complejos, reduce las cargas administrativas y capacita a las empresas en crecimiento para centrarse en sus objetivos estratégicos centrales.

Barrett Business Services, Inc. (BBSI) - Modelo de negocios: asociaciones clave

Redes de la industria de organizaciones de empleadores profesionales (PEO)

BBSI opera dentro de la industria de PEO con asociaciones estratégicas en múltiples redes:

Red PEO	Detalles de la asociación	Valor de colaboración anual
Asociación Nacional de Organizaciones de Empleadores Profesionales (NAPEO)	Membresía activa desde 2005	Inversión de red anual de $ 250,000
Red de recursos de empleador profesional	Plataforma de colaboración estratégica	Compromiso de red anual de $ 175,000

Asociaciones comerciales pequeñas a medianas

• Asociación de la Asociación de Negocios de Oregon
• Washington Small Business Development Center Colaboración
• California Small Business Network Alliance

Compañías de seguros y proveedores de gestión de riesgos

Socio	Tipo de cobertura	Valor anual del contrato
El Hartford	Compensación de trabajadores	$ 5.2 millones
Libertad Mutual	Responsabilidad general	$ 3.7 millones

Proveedores de servicios de tecnología para plataformas de recursos humanos

Asociaciones de tecnología clave:

• Plataforma de gestión de recursos humanos del día laboral
• Servicios de integración de nómina ADP
• Soluciones de tecnología de Paychex

Cámaras regionales de comercio

Cámara de Comercio	Nivel de membresía	Costo anual de membresía
Portland Business Alliance	Miembro corporativo premium	$8,500
Cámara metropolitana de Seattle	Socio estratégico	$6,750

Barrett Business Services, Inc. (BBSI) - Modelo de negocios: actividades clave

Outsourcing de gestión de recursos humanos

En 2023, BBSI gestionó los servicios de outsourcing de recursos humanos para aproximadamente 7.500 empresas clientes en múltiples industrias. La Compañía procesó tareas administrativas de recursos humanos para 133,000 empleados del sitio de trabajo.

Categoría de servicio de recursos humanos	Volumen anual
Gestión de cumplimiento de recursos humanos	98,750 registros de empleados administrados
Desarrollo de políticas de recursos humanos	4,250 marcos de política de clientes creados

Procesamiento y administración de nómina

BBSI procesó $ 4.2 mil millones en volumen total de nómina para clientes en 2023, con una precisión promedio de procesamiento del 99.8%.

• Procesamiento de nómina para 133,000 empleados del sitio de trabajo
• Servicios de presentación e informes de impuestos para clientes
• Emisión directa de depósito y cheque

Gestión de seguros de compensación de trabajadores

BBSI gestionó los programas de compensación de trabajadores con un volumen de primas de seguro total de $ 325 millones en 2023.

Métrica de gestión de seguros	2023 datos
Reclamaciones totales procesadas	8.750 reclamos
Tasa de resolución de reclamos	92.3%

Administración de beneficios para empleados

BBSI administró beneficios para 133,000 empleados del lugar de trabajo, gestión de seguros de salud, planes de jubilación y beneficios suplementarios.

• Inscripción de seguro de salud: 98,500 empleados
• 401 (k) Gestión del plan de jubilación
• Coordinación de beneficios voluntarios

Reclutamiento de talento y soluciones de fuerza laboral

En 2023, BBSI facilitó el reclutamiento para 6.750 puestos en varias industrias con una tasa de éxito de colocación del 87.5%.

Métrico de reclutamiento	2023 rendimiento
Posiciones totales llenas	6.750 posiciones
Tasa de éxito de colocación	87.5%
Industrias atendidas	Construcción, atención médica, fabricación, hospitalidad

Barrett Business Services, Inc. (BBSI) - Modelo de negocios: recursos clave

Infraestructura de tecnología de recursos humanos especializada

A partir del cuarto trimestre de 2023, BBSI mantiene una plataforma integral de tecnología de recursos humanos con las siguientes especificaciones:

Componente tecnológico	Detalles específicos
Sistema de gestión de recursos humanos basado en la nube	Plataforma patentada que cubre el 100% de la gestión de la fuerza laboral del cliente
Inversión tecnológica anual	$ 3.7 millones en 2023
Escalabilidad de infraestructura digital	Admite hasta 150,000 registros concurrentes de los empleados

Equipos de servicios profesionales experimentados

Composición del equipo de servicio profesional de BBSI a partir de 2024:

• Total de personal profesional: 2,187 empleados
• Experiencia profesional promedio: 8.4 años
• Profesionales de recursos humanos certificados: 73% de la fuerza laboral

Experiencia integral de cumplimiento

Asignación de recursos de cumplimiento en 2024:

Área de cumplimiento	Recursos dedicados
Especialistas en cumplimiento legal	42 profesionales a tiempo completo
Equipo de monitoreo regulatorio	18 analistas de cumplimiento dedicados
Inversión anual de capacitación de cumplimiento	$ 1.2 millones

Capital financiero para la expansión comercial

Métricas de recursos financieros para 2024:

• Capital total disponible: $ 127.6 millones
• Relación de capital de trabajo: 2.3
• Capacidad de la línea de crédito: $ 50 millones

Sistemas de gestión de riesgos robustos

Detalles de la infraestructura de gestión de riesgos:

Componente de gestión de riesgos	Especificación
Cobertura de seguro	Protección de responsabilidad integral de $ 75 millones
Tecnología de evaluación de riesgos	Plataforma de análisis predictivo en tiempo real
Inversión anual de mitigación de riesgos	$ 2.9 millones

Barrett Business Services, Inc. (BBSI) - Modelo de negocios: propuestas de valor

Gestión de la fuerza laboral simplificada para pequeñas empresas

BBSI administra 31,174 empleados del lugar de trabajo a partir del tercer trimestre de 2023, proporcionando soluciones integrales de la fuerza laboral para pequeñas y medianas empresas en múltiples industrias.

Categoría de servicio	Cobertura anual	Ahorro de costos promedio
Gestión de la fuerza laboral	Más de 12,500 compañías clientes	17.3% Reducción de costos administrativos

Carga de recursos humanos administrativa reducida

BBSI maneja funciones críticas de recursos humanos con 98.6% Tasa de satisfacción del cliente, Procesamiento de nómina para aproximadamente 89,000 empleados del lugar de trabajo trimestralmente.

• Eficiencia de procesamiento de la nómina: 99.2% de precisión
• Gestión de cumplimiento de recursos humanos: cubre 50 requisitos reglamentarios de estados
• Tiempo promedio ahorrado por cliente: 22 horas mensuales

Acceso a beneficios y recursos de nivel empresarial

BBSI proporciona un paquete de beneficios integrales comparables a las empresas Fortune 500 para empleados de pequeñas empresas.

Categoría de beneficio	Porcentaje de cobertura	Valor anual
Seguro médico	87% de los empleados del lugar de trabajo	$ 12.4 millones en beneficios totales
Planes de jubilación	72% de participación elegible	$ 3.6 millones en contribuciones 401 (k)

Estrategias integrales de mitigación de riesgos

BBSI administra $ 1.2 mil millones en primas de seguro de compensación de trabajadores, ofreciendo soluciones especializadas de gestión de riesgos.

• Eficiencia de gestión de reclamos: reducción del 35% en los incidentes del lugar de trabajo
• Optimización de costos de seguro: Reducción de primas promedio 22%
• Programas de capacitación en seguridad: cubre 16 verticales de la industria

Soluciones de empleo rentables

BBSI generó $ 1.87 mil millones en ingresos totales para el año fiscal 2022, lo que demuestra un modelo robusto de organización de empleadores profesionales (PEO).

Métrica financiera	Rendimiento 2022	Crecimiento año tras año
Ingresos totales	$ 1.87 mil millones	Aumento del 12,4%
Lngresos netos	$ 86.3 millones	15.2% de crecimiento

Barrett Business Services, Inc. (BBSI) - Modelo de negocios: relaciones con los clientes

Gestión de cuentas dedicada

BBSI proporciona una administración de cuentas personalizada con 168 ubicaciones de sucursales totales en 25 estados a partir de 2023. La compañía atiende a aproximadamente 31,500 clientes con apoyo dedicado de la Organización de Empleadores Profesionales (PEO).

Métrica de gestión de cuentas	2023 datos
Ubicaciones de sucursales totales	168
Total de clientes atendidos	31,500
Estados cubiertos	25

Servicios personalizados de soporte al cliente

BBSI ofrece soporte especializado a través de:

• Soluciones de recursos humanos personalizadas
• Consultoría de gestión de riesgos
• Servicios de procesamiento de nómina
• Administración de beneficios

Cumplimiento regular y consultoría estratégica

La Compañía brinda apoyo integral de cumplimiento con 87 profesionales de cumplimiento dedicados a partir de 2023, gestionando los requisitos regulatorios en múltiples industrias.

Métrica de soporte de cumplimiento	2023 datos
Profesionales de cumplimiento	87
Industrias apoyadas	Múltiple

Plataformas de autoservicio digital

BBSI utiliza plataformas digitales avanzadas con Informes en tiempo real y Herramientas de gestión en línea. La plataforma digital admite:

• Procesamiento de nómina en línea
• Portales de autoservicio de empleados
• Sistemas de gestión del rendimiento

Orientación continua de optimización de la fuerza laboral

BBSI proporciona una gestión estratégica de la fuerza laboral con una tasa de retención de clientes documentada del 87.3% en 2023, lo que indica estrategias de apoyo continuas efectivas.

Métrica de optimización de la fuerza laboral	2023 datos
Tasa de retención de clientes	87.3%

Barrett Business Services, Inc. (BBSI) - Modelo de negocios: canales

Equipo de ventas directas

A partir de 2024, BBSI mantiene un equipo de ventas directas de aproximadamente 207 representantes de ventas profesionales en los Estados Unidos. El equipo de ventas genera ingresos anuales de $ 1.87 mil millones, con una productividad promedio representativa de ventas de $ 9.02 millones por año.

Métrica del equipo de ventas	2024 datos
Representantes de ventas totales	207
Ingresos anuales generados	$ 1.87 mil millones
Ingresos promedio por representante	$ 9.02 millones

Portal web en línea

El portal web en línea de BBSI atiende a aproximadamente 74,000 clientes comerciales activos. Los procesos de la plataforma digital 68% de las interacciones del cliente y maneja un promedio de 42,500 transacciones digitales mensuales.

• Total de clientes comerciales activos: 74,000
• Volumen de transacción digital: 42,500 por mes
• Porcentaje de interacción digital: 68%

Ubicaciones de oficinas regionales

BBSI opera 56 oficinas regionales en 24 estados, brindando servicios localizados de organización de empleadores profesionales (PEO). Estas oficinas generan un promedio de $ 33.4 millones en ingresos por ubicación.

Métrico de oficina regional	2024 datos
Oficinas regionales totales	56
Estados atendidos	24
Ingresos promedio por oficina	$ 33.4 millones

Redes de referencia profesionales

BBSI aprovecha 1,287 asociaciones de referencia profesional, generando el 22% de las adquisiciones totales de clientes. Estas redes aportan aproximadamente $ 412 millones en ingresos anuales.

• Asociaciones totales de referencia: 1.287
• Adquisición del cliente a través de referencias: 22%
• Ingresos de la red de referencia: $ 412 millones

Marketing digital y generación de leads

Los esfuerzos de marketing digital de BBSI generan 38,750 clientes potenciales calificados anualmente, con una tasa de conversión del 16,4%. El presupuesto de marketing digital es de $ 4.2 millones, lo que resulta en un costo por cliente adquirido de $ 1,075.

Métrica de marketing digital	2024 datos
Pegados anuales calificados	38,750
Tasa de conversión de plomo	16.4%
Presupuesto de marketing digital	$ 4.2 millones
Costo por cliente adquirido	$1,075

Barrett Business Services, Inc. (BBSI) - Modelo de negocios: segmentos de clientes

Empresas pequeñas a medianas

A partir del cuarto trimestre de 2023, BBSI sirve aproximadamente 7,500 empresas pequeñas a medianas en los Estados Unidos. Estas empresas generalmente tienen entre 10-250 empleados y generan ingresos anuales que van desde $ 1 millón a $ 50 millones.

Categoría de tamaño del negocio	Número de clientes	Recuento promedio de empleados
Micro empresas (10-49 empleados)	3,750	25
Pequeñas empresas (50-99 empleados)	2,250	75
Empresas medianas (100-250 empleados)	1,500	175

Empresas en diversos sectores de la industria

BBSI proporciona servicios en múltiples verticales de la industria:

• Construcción: 35% de la base de clientes
• Servicios profesionales: 22% de la base de clientes
• Fabricación: 18% de la base de clientes
• Atención médica: 12% de la base de clientes
• Hospitalidad y venta minorista: 8% de la base de clientes
• Otras industrias: 5% de la base de clientes

Organizaciones que buscan soluciones de outsourcing de recursos humanos

En 2023, BBSI administró servicios de recursos humanos para 6,200 organizaciones de clientes, con un valor promedio del contrato de servicio de $ 185,000 anuales.

Tipo de servicio de recursos humanos	Número de clientes	Valor anual promedio del contrato
Outsourcing integral de recursos humanos	3,100	$225,000
Servicios de recursos humanos parciales	2,600	$125,000
Consultoría especializada de recursos humanos	500	$85,000

Empresas en etapa de crecimiento

BBSI se dirige a empresas en etapa de crecimiento con ingresos anuales entre $ 5 millones y $ 100 millones. A partir de 2023, la compañía atiende a 1.800 empresas de este tipo.

Empresas con complejas necesidades de gestión de la fuerza laboral

En 2023, BBSI proporcionó soluciones de gestión de la fuerza laboral a 1.200 clientes con requisitos de personal complejos, que incluyen:

• Operaciones de varios estados: 680 clientes
• Gestión de la fuerza laboral estacional: 350 clientes
• Industrias de alta cumplimiento: 170 clientes

Barrett Business Services, Inc. (BBSI) - Modelo de negocio: Estructura de costos

Compensación y capacitación de personal

A partir del año fiscal 2022, BBSI reportó gastos totales de personal de $ 1,024,615,000. Los costos laborales de la compañía se rompen de la siguiente manera:

Categoría de gastos	Monto ($)
Salarios y salarios	742,345,000
Beneficios para empleados	218,670,000
Capacitación y desarrollo	63,600,000

Mantenimiento de la infraestructura tecnológica

BBSI invirtió $ 47.2 millones en costos de tecnología e infraestructura en 2022, con la siguiente asignación:

• Sistemas y software de TI: $ 22.5 millones
• Mantenimiento de hardware: $ 12.7 millones
• Infraestructura de ciberseguridad: $ 12 millones

Gastos de seguro y cumplimiento

El cumplimiento y los costos relacionados con el seguro para BBSI en 2022 totalizaron $ 89.3 millones:

Categoría de cumplimiento	Monto ($)
Seguro de compensación de trabajadores	62,500,000
Cumplimiento regulatorio	18,300,000
Seguro de responsabilidad civil	8,500,000

Inversiones de marketing y ventas

Los gastos de marketing y ventas de BBSI para 2022 fueron de $ 34.6 millones:

• Marketing digital: $ 14.2 millones
• Compensación del equipo de ventas: $ 12.8 millones
• Materiales y campañas de marketing: $ 7.6 millones

Gestión de gastos generales operativos

Los costos generales operativos para BBSI en 2022 ascendieron a $ 76.9 millones:

Categoría de gastos generales	Monto ($)
Gastos de la instalación	28,600,000
Gastos administrativos	24,300,000
Servicios públicos y costos operativos	24,000,000

Barrett Business Services, Inc. (BBSI) - Modelo de negocios: flujos de ingresos

Tarifas de suscripción de servicio mensual

A partir del cuarto trimestre de 2023, BBSI informó ingresos por servicios de la Organización del Empleador Profesional Total (PEO) de $ 1.52 mil millones, con tarifas de suscripción mensuales que representan una porción significativa de los ingresos recurrentes.

Nivel de servicio	Rango de tarifas mensuales	Ingresos anuales estimados
Servicios básicos de PEO	$ 75 - $ 150 por empleado	$ 456 millones
Servicios PEO avanzados	$ 150 - $ 300 por empleado	$ 678 millones

Cargos administrativos por empleado

BBSI cobra tarifas administrativas basadas en el recuento de empleados y la complejidad de los servicios.

• Cargo administrativo promedio por empleado: $ 125
• Ingresos administrativos totales en 2023: $ 412 millones
• Ingresos administrativos estimados por cliente: $ 85,000 anualmente

Comisiones de seguro de compensación de trabajadores

En 2023, BBSI generó $ 187 millones a partir de ingresos de la Comisión de Seguros de Compensación de Trabajadores.

Categoría de seguro	Porcentaje de comisión	Ingresos de la comisión total
Industrias de alto riesgo	8% - 12%	$ 98 millones
Industrias de bajo riesgo	3% - 6%	$ 89 millones

Servicios de consultoría de gestión de riesgos

La consultoría de gestión de riesgos de BBSI generó $ 64 millones en ingresos durante 2023.

• Valor de compromiso de consultoría promedio: $ 15,000
• Número de clientes consultores: 4,267
• Margen de servicios de consultoría: 42%

Ingresos de adquisición y reclutamiento de talentos

Los servicios de reclutamiento y personal contribuyeron con $ 92 millones a los ingresos de BBSI en 2023.

Servicio de reclutamiento	Tarifa promedio	Ingresos totales
Colocación directa	15% - 25% del salario de primer año	$ 52 millones
Personal temporal	Marcado del 35% - 50%	$ 40 millones

Barrett Business Services, Inc. (BBSI) - Canvas Business Model: Value Propositions

You're looking at the core reasons why a small or mid-sized business chooses Barrett Business Services, Inc. (BBSI) over managing HR internally or using point solutions. The value is bundled, not broken out.

Integrated HR outsourcing plus strategic business consulting

Barrett Business Services, Inc. (BBSI) delivers a full suite of services, which is more than just payroll and compliance. This integrated approach is reflected in the growth of the core Professional Employer Organization (PEO) segment. In the third quarter of 2025, PEO gross billings reached $2.3 billion, representing an 8.8% increase over the prior year's quarter. The engine driving this is the worksite employees (WSEs), which grew by 6.1% in the quarter, showing clients are relying more on the comprehensive service offering.

Reduced administrative burden and regulatory compliance risk

The administrative relief is quantified by the efficiency gained, though general selling, general, and administrative (SG&A) expense still rose by approximately 2% in Q3 2025, primarily due to employee-related costs. A key component of risk mitigation is workers' compensation management. For Q3 2025, workers' compensation expense as a percent of gross billings was 2.2%. This is an improvement from the 2.3% reported in the third quarter of 2024. Furthermore, the company recognized $3.9 million in favorable prior year liability and premium adjustments in Q3 2025, demonstrating effective claims management and reserving.

Access to high-quality employee benefits (BBSI Benefits)

The value proposition around benefits is evident in client engagement during renewal season. As health insurance rates increase, clients shop around, but Barrett Business Services, Inc. (BBSI) is seeing increased activity. October submissions for one-to-one benefit transactions were reported as 60% greater than October of the prior year. This suggests clients see the value in retaining the high-quality benefit packages offered through the platform even with rising costs.

Expertise in workers' compensation risk mitigation (2.2% of gross billings in Q3 2025)

This expertise directly impacts a client's bottom line by controlling a major cost center. The 2.2% figure for Q3 2025 is a concrete measure of this efficiency relative to the total volume of business processed, which was $2.32 billion in gross billings for the quarter.

Partnership model that frees owners to focus on core business

Owners are freed up because the company is growing its client base and retaining them. The total gross billings for Q3 2025 were $2.32 billion, up 9% year-over-year. The company also actively returns capital to shareholders, signaling financial health and confidence in the model, with $8 million of shares repurchased in Q3 2025 at an average price of $47 per share, and year-to-date capital returned totaling approximately $31 million.

Here's a quick look at the key financial metrics underpinning these value propositions for the third quarter of 2025:

Metric	Value / Percentage	Context
Total Gross Billings (Q3 2025)	$2.32 billion	Total volume of business processed
PEO Gross Billings (Q3 2025)	$2.3 billion	Core service segment volume
Workers' Compensation Expense (% of Gross Billings) (Q3 2025)	2.2%	Risk mitigation cost efficiency
Year-over-Year Gross Billings Growth (Q3 2025)	9%	Overall business expansion
Year-over-Year WSE Growth (Q3 2025)	6.1%	Growth in the client workforce served
Favorable Prior Year Adjustments (Q3 2025)	$3.9 million	Benefit from claims management expertise
October Benefit Submission Growth vs. Prior Year	60% greater	Client engagement in benefits shopping
Net Income Per Diluted Share (Q3 2025)	$0.79	Resulting profitability for shareholders

The partnership model is further supported by the company's commitment to its stock. In Q3 2025, Barrett Business Services, Inc. (BBSI) paid $2.1 million in dividends and repurchased $8 million worth of shares.

• Integrated service delivery drives WSE growth of 6.1% in Q3 2025.
• Risk cost is contained at 2.2% of gross billings.
• Client interest in benefits is high, with October submissions up 60% year-over-year.
• Shareholder returns totaled approximately $31 million year-to-date.

Barrett Business Services, Inc. (BBSI) - Canvas Business Model: Customer Relationships

You're looking at how Barrett Business Services, Inc. (BBSI) keeps its clients locked in-it's all about deep, personal service backed by scalable tech. The core relationship is built on a high-touch, consultative 'Business Partner' model. This isn't just an account manager; the Business Partner's role is developing a deep understanding of your business, building trust with you and your management team, and offering unwavering support and guidance throughout your business journey. They are business veterans with decades of experience managing teams for various company sizes and industries.

The service delivery relies on dedicated local teams providing tailored support. BBSI specialty is pairing you with a local team of professionals who understand your business goals, and then providing the support you need to achieve them. This local Business Unit Team is specifically designed to help support franchisees and other clients with their day-to-day operational questions, covering payroll, HR, and Workers' Compensation claims.

You get proactive strategic planning sessions (Business Blueprint) as part of this partnership. Your Business Partner will lead these sessions to assess the health of your business, set realistic goals, and identify any obstacles standing in the way of your business plan. For instance, one client set strategic growth with a newly developed business blueprint in collaboration with BBSI.

To balance the high-touch approach, there is digital self-service via the myBBSI online platform. The myBBSI portal allows you to process and manage payroll, benefits, applicant tracking, onboarding, and employee reporting. They also offer BBSI U, which is their learning management system, to help you train and develop your teams.

This integrated approach drives a high client retention rate, driving controllable growth. Management cited excellent client retention as a key factor in fueling solid revenue growth through the first three quarters of 2025. A case study related to a referral partner even noted a stellar client retention rate of over 90%. Controllable growth from new client additions has been a major focus, with the company adding a record 10,100 worksite employees (WSEs) year-over-year from net new clients in the second quarter of 2025. For the full year 2025, WSE growth guidance was projected to be between 6% and 8%, and gross billings growth guidance was increased to a range of 9% to 10%.

Here's a quick look at the key performance indicators tied to this relationship model:

Metric	Latest Reported Figure/Guidance (2025)
Client Retention	Reported as 'strong' and 'exceeded expectations'
Stellar Retention Example (Referral Partner)	Over 90%
Record Net New Client WSE Adds (Q2 2025 YoY)	10,100 WSEs
Full-Year 2025 WSE Growth Guidance	6% to 8%
Full-Year 2025 Gross Billings Growth Guidance (Revised Upward)	9% to 10%
Total Participants in BBSI Benefits (as of October 2025)	Over 20,000 participants across approximately 750 client firms

The health insurance quote pipeline for October 2025 increased 60% year-over-year, which management attributed partly to stronger referral partner relationships. This pipeline activity suggests future client acquisition momentum driven by the value proposition.

Finance: draft 13-week cash view by Friday.

Barrett Business Services, Inc. (BBSI) - Canvas Business Model: Channels

You're looking at how Barrett Business Services, Inc. (BBSI) gets its services-payroll, HR outsourcing, and consulting-into the hands of small and mid-sized businesses. The channel strategy is heavily weighted toward a local, relationship-driven approach, supported by modern digital tools.

Direct sales team and New Market Development Managers

The core of new client acquisition relies on direct sales efforts, which are clearly showing results. For instance, in the first quarter of 2025, Barrett Business Services, Inc. (BBSI) added 55% more WSEs from new client adds than in the prior year's quarter. This speaks directly to the effectiveness of the sales pipeline feeding the business teams.

The asset-light expansion model, which relies on development managers, is also a key channel focus for growth outside of established markets. As of the third quarter of 2025, Barrett Business Services, Inc. (BBSI) had 22 development managers active, up from 21 in the second quarter of 2025. This channel is projected to contribute over 2,000 WSEs for the full year 2025.

Here's a look at the growth metrics tied to client acquisition:

Metric	Period/Projection	Value
Gross Billings Growth (Full Year 2025 Expectation)	2025 Projection	8.5% to 9.5%
Average WSEs Growth (Full Year 2025 Expectation)	2025 Projection	6% to 8%
WSEs Added from New Clients (Q1 2025 vs. Q1 2024)	Q1 2025	55% more

Local brick-and-mortar BBSI branches (e.g., Chicago, Dallas expansion)

The local branch network is the physical manifestation of the Barrett Business Services, Inc. (BBSI) model, ensuring that business owners get that in-person, neighborhood support. As of the end of 2023, the company supported clients with a local presence in 68 markets throughout the United States, and it is licensed to serve businesses in all 50 states. This structure is designed to foster autonomous decision-making by local business teams.

While specific 2025 branch expansion numbers for Chicago or Dallas aren't explicitly detailed in recent reports, the underlying structure shows concentration in key areas. For example, the branch count at the end of 2023 included 20 offices in California, 4 in Oregon, and 4 in Washington. The overall strategy is to maintain this local footprint to deliver integrated solutions.

The success of this channel is reflected in the overall company performance; third quarter 2025 revenues reached $318.9 million, with total gross billings at $2.32 billion, driven primarily by growth in professional employer (PEO) services resulting from net new clients.

Client and partner referral networks

While direct sales and local presence drive much of the new business, the strength of the existing client base and partner ecosystem is a critical, though often unquantified, channel. High client retention is a recurring theme, which naturally fuels referrals. The company noted continued strong client retention trends in Q1 2025, which is a direct indicator of the success of the service delivery channel.

The Net Promoter Score (NPS) is a good proxy for the health of this channel; in Q3 2025, the NPS remained in the high 60s for the third straight year. This high score suggests a strong base for organic growth through word-of-mouth and partner endorsements.

Online portal (myBBSI) for client and worksite employee access

Technology provides the efficiency layer, enabling the local teams to focus on consulting and strategy. The myBBSI portal is where the transactional work gets done. This platform allows users to process and manage payroll, benefits, applicant tracking, onboarding, and employee reporting. The convenience of this portal simplifies management for clients, ensuring efficiency, accuracy, and compliance in core administrative tasks.

The digital channel supports the entire base of over 8,100 PEO clients as of early 2025. The integration of BBSI U, the learning management system, also falls under this digital channel, helping clients train and develop their teams.

Targeted local events and webinars for business owners

Barrett Business Services, Inc. (BBSI) uses local events and educational outreach to engage prospective business owners and demonstrate their value proposition. This is a key part of filling the top of the sales funnel. The company reported a very strong January 1st benefits selling season in Q1 2025, indicating successful engagement around key product offerings, which are often promoted through these targeted outreach efforts. The success in driving growth through client additions suggests these local marketing and educational channels are effective at resonating with the target market.

The overall growth in PEO gross billings in Q3 2025 was 8.6% over the prior year's quarter, a result of solid revenue growth fueled by new client sales and expanded product adoption, which these local engagement channels help facilitate.

Barrett Business Services, Inc. (BBSI) - Canvas Business Model: Customer Segments

You're looking at the core of Barrett Business Services, Inc. (BBSI)'s operation, which is squarely focused on serving small and mid-sized businesses (SMBs) throughout the US. This isn't a one-size-fits-all approach; the customer base is geographically diverse, operating in all 50 states. The value proposition is tailored to companies that need to offload complex, non-core administrative functions to focus on their primary business objectives.

Here's a quick snapshot of the scale of the client base as of the third quarter of 2025, which defintely shows the depth of their market penetration:

Metric	Value (Q3 2025)	Context
Total PEO Clients	Over 8,100	Number of distinct businesses utilizing PEO services.
Average Worksite Employees (WSEs)	141,492	The average total headcount under BBSI's co-employment umbrella for the quarter.
PEO Revenue Growth (YoY)	9.9%	Growth rate for the primary revenue-generating segment in Q3 2025.
Total Gross Billings	$2.32 billion	Total value of payroll, taxes, and benefits processed in Q3 2025.

The customer base spans a wide spectrum of operational environments. You see companies in industries often characterized as blue-collar, such as construction, alongside those in more traditional white-collar sectors. What unites them is the need to outsource comprehensive Human Resource (HR) and risk management functions. They are seeking a partner to manage the administrative burden associated with payroll processing, employee benefits administration, workers' compensation coverage, and workplace safety programs.

These businesses are segmenting themselves based on the complexity of their needs and their desire for operational efficiency. They are looking for:

• Comprehensive HR and risk management outsourcing.
• Expertise in payroll processing and compliance.
• Access to competitive employee benefits packages.
• Mitigation of workers' compensation costs and liabilities.
• Professional management consulting support.

Barrett Business Services, Inc. (BBSI) - Canvas Business Model: Cost Structure

You're looking at the core costs that drive the engine at Barrett Business Services, Inc. (BBSI), which is heavily weighted toward the services it passes through to clients. The largest component, by far, is the direct payroll and related costs for the worksite employees (WSEs) under the Professional Employer Organization (PEO) model; this is the largest pass-through expense that is netted out before reported revenue is calculated. For context, the reported revenue for the trailing twelve months (TTM) leading up to late 2025 stands at $1.22 billion.

Managing the risk associated with that workforce is a significant, though smaller, cost center. For the third quarter ended September 30, 2025, the workers' compensation expense was reported at 2.2% of that quarter's gross billings. Given that Q3 2025 gross billings reached $2.32 billion, this specific cost component amounted to approximately $51.04 million for the quarter.

Beyond the direct pass-throughs, the operational costs support the entire service delivery platform. This includes the compensation for the internal team, such as Business Partners and local branch staff, who are crucial for client acquisition and service delivery. Furthermore, Barrett Business Services, Inc. (BBSI) continues to invest in its infrastructure to maintain its competitive edge.

The general and administrative expenses are the overhead required to support the scale of the business, which is currently generating TTM revenue of $1.22 billion. The TTM total operating expenses, which encompass many of these fixed and semi-fixed costs, were reported at $199.761 million as of late 2025. This figure reflects the cost of running the business-salaries, rent, and technology-relative to its revenue.

Here is a breakdown of key cost-related metrics and figures from the latest reporting periods:

Cost Component/Metric	Latest Reported Value	Period/Basis
Workers' Compensation Expense	2.2%	Q3 2025 Gross Billings
Workers' Compensation Expense (Approximate Dollar Value)	$51.04 million	Q3 2025 (Calculated from $2.32B Gross Billings)
TTM Revenue	$1.22 billion	TTM ending late 2025
TTM Total Operating Expenses (Proxy for G&A/Overhead)	$199.761 million	TTM ending late 2025
Projected Gross Margin as % of Gross Billings	2.9% to 3.0%	Full Year 2025 Guidance

The ongoing investments in the platform are focused on maintaining service quality and driving future growth. These investments are a necessary cost to support the model:

• Technology investment and maintenance for the HRIS platform.
• Compensation for Business Partners and local branch staff.
• Costs associated with new branch expansion and geographic footprint growth.
• General and administrative expenses to support the $1.22 billion TTM revenue base.

It's defintely worth noting that the company's gross margin as a percentage of gross billings is guided to be very tight for the full year 2025, between 2.9% and 3.0%. This low percentage confirms that the vast majority of the gross billings-over 97%-is consumed by the direct payroll and associated costs that are passed through to the client's employees.

Finance: draft 13-week cash view by Friday.

Barrett Business Services, Inc. (BBSI) - Canvas Business Model: Revenue Streams

The revenue streams for Barrett Business Services, Inc. (BBSI) are overwhelmingly concentrated in its Professional Employer Organization (PEO) services, which form the core of its business model. The Staffing Services segment contributes a much smaller, though still present, portion of the total revenue.

For the third quarter ended September 30, 2025, the revenue composition clearly shows the dominance of the PEO segment. PEO services revenue was reported at $299.7 million, while Staffing services revenue was $19.3 million for the same period. This translates to the PEO segment accounting for approximately 94.0% of Q3 2025 revenue, with Staffing Services revenue making up the remaining approximately 6.0%.

Revenue Stream Component	Q3 2025 Revenue (US$ thousands)	Approximate % of Q3 2025 Revenue
PEO Services Revenue	299,685	94.0%
Staffing Services Revenue	19,264	6.0%

Looking forward, Barrett Business Services, Inc. (BBSI) management has provided guidance for the full-year 2025 performance metrics that reflect confidence in their core business execution, even amidst macroeconomic uncertainty. The company anticipates that its gross billings growth will be projected at 8.5% to 9.5% for the full-year 2025. This growth is expected to be supported by an anticipated increase in the average number of worksite employees (WSEs) between 6% and 8% for the full year.

A critical metric for understanding the profitability of the PEO model is the Gross Margin as a percentage of gross billings. For 2025, Barrett Business Services, Inc. (BBSI) is guided to have a gross margin of 2.9% to 3.0% of gross billings. This figure represents the revenue retained after accounting for client wages and payroll taxes, which constitute the vast majority of gross billings.

Fees for administering employee benefits, primarily through the BBSI Benefits offering, represent a key value-add component within the PEO service bundle, driving client stickiness. As of the second quarter of 2025, the company reported significant uptake in this area:

• Total participants across various benefits products reached 19,000 through July 2025.
• The company added approximately 1,600 participants to its benefits products in Q2 2025 alone.
• This participation spans approximately 710 clients on various benefit plans.