Although our economy has faced a few speed bumps recently, I strongly believe that the media is sensationalizing the magnitude of the downturn.
Like every responsible business we have been carefully monitoring the impact recent developments have had on our bottom line. Since it's inception, Matrix has grown every fiscal period. This year has been no different. However, we are noticing a slower ramp up period relative to last year. There are several reasons we have identified for change:
Speaking with our clients on a regular basis, several moderate to large size contracts are being negotiated and will be coming through the pipes shortly. Presently, all long term Matrix employees are consistently placed on a daily basis and can expect regular, ongoing work with a transition to long term deployment as our larger client initiatives go live.
This is our 13th year in business. Thus far, as a result of our conscientious spending, long term planning and strong relationships, we have buffered any significant and immediate impact to our operations. We are working closely with our clients by offering market pressure pricing. Our intent is to weather the slowdown together and recover in a stronger position.
Matrix continues to invest in ventures and technology during this time to innovate on our operations and establish a springboard for the future. Specifically:
We consider employee safety training to be part of our service deliverable. We have now undertaken an organization-wide mandate to ensure all employee safety tickets are up to date and training is current. We pride ourselves on establishing and maintaining a best in class "employee-centric" culture and staffing agency leader. This initiative is one of many indicators substantiating our position.
Finally, our focus remains on long term growth and sustainability. Having been strongly recommended as a leader in it's own industry by our clients and colleagues, we retained Stawowski McGill & Partners LLP (SMP) to solidify our vision with years of experience, expertise and strategy. The relationship thus-far has yielded some very positive and actionable insights. We believe SMP will help solidify and expand our vision so that it spans the entire horizon through opportunity identification and critical contingency planning.
I want to take this opportunity to thank each and every one of you for your dedication and hard work. We want to work together to build something amazing where we all go home safe at night, have stable jobs and income and build a strong company to weather any storm ahead. I am very committed to this company that I started in my basement 13 years ago. I am working each and every day to make sure everyone is getting paid on time and has consistent employment. This is my commitment to you. I am confident we can work with the NDP government to build a strong Alberta for future generations.
Have a safe summer and please remember to stay hydrated!
Shannon Warren | President and CEO
Matrix Labour Leasing
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