TTEC
#We talked about this last night just because we knew this question was going to come up.
I think the consensus amongst our leadership team is that we're not really seeing any significant wage pressure.
We think that part of that is that we're known in the marketplace as really being the higher-end provider.
We believe that our salaries and our pay is on the higher side and is more competitive in the marketplace than maybe some other organizations.
As you know, we are very focused on a fair price so that we can make a fair return.
So, I think that's probably why we don't feel like there's a threat of wage pressure.
On the front line, the majority of our deals have cost-of-living increases.
So, should the wages shift dramatically, et cetera, we can take advantage and act and adjust the pricing in that area.
I'd say the only area where we see wage pressure that surprises us is Brazil.
And the good news about Brazil is, it's a very unique market in that automatically whatever adjusted wages that we have to adjust to, we instantly pass through and update the pricing plan to the client.
And that's not unique to TeleTech, that's unique to the marketplace in Brazil.
That's how it operates.
So, that's good.
When you've got currencies that are kind of wacky and so forth, it helps.
On the management side, meaning what I'd say more onshore, et cetera, I think we feel pretty good about it.
I think people are really excited about what's going on here.
Although this isn't related to your question, I would tell you that we have probably never seen a better foray of high-quality senior management resumes in the 34 years that I've been running this business, which is interesting because it's contradictory to how low the unemployment is in the marketplace and yet we have management and executives reaching out to us from all over the world wanting to be involved with us.
I guess I'm being long-winded about this.
We feel pretty good about where we are right now.
Now, again, there so many policies that are being changed and so much going on that futuristically could there be some pressure.
There could be, but I think that clients are beginning to become more understanding as they see healthcare costs going up, et cetera, that we've been successful in being able to go back, demonstrate cost increases when they take place, and pass them on.
<UNK>, I'm going to leave that to you.
I will just get myself in trouble if I put out a long-term margin target.
Thank you very much.
