BJ Services Company

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BJ Services Company (BJS): Company Profile, Stock Price, News, Rankings

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BJ Services Company | Fortune

BJ Services Company (BJS): Company Profile, Stock Price, News, Rankings | Fortune

Hello again. Blanca, having Blanca here is really great, because we very much view this particular event in Canada as an event of the Americas going from Canada through the US, but including Latin America. It's absolutely wonderful to have you here. Thanks for having me. Let's start by a little bit of They get to know you. You and I had lunch together full disclosure today and you were telling me how, despite your being in a what we might call a patriarchal society, your dad actually encouraged you to go into, Computers and engineering. He did and he did I don't think about mid 70s even though you think about my age, but mid 70s technology was not necessarily the word or he was not well known that kind of industry so it was more computers and my dad loved the idea that her. Her daughter was gonna be involved in something so different, so exciting. No one had ever seen a computer in any home. Yeah. So for him it was incredible. And yes, he did encourage me to get into this. But he was mostly he was embarassed that you'd be fearful about taking this on, right? You came home and said I'm scared, I can't do this anymore. Yeah. That's something that I like to share because people keep asking me, who really encouraged you? And it was my dad, I remember when I told him that I was gonna be into computers. He was so excited, but after two or three days I went to the University. I said you know what, I don't wanna be into computers, I'm It might be very difficult, so I went back home. My dad was sharing this idea with his brother, bragging about her daughter, and when he left, I told, you know what? Dad I'm not getting to computers. I'm afraid. And probably that was. I don't know if it was the right word or the wrong word, because my dad told me, afraid I could leave with the idea. That my daughter is not smart. Whatever, ugly, not smart, whatever. But someone that is afraid, no, that I cannot. That I will not have it. So you better go back to the university, if that's your only constraint. I mean, if that's the reason why you decided not getting to computers, then you have to go back and- And your fearlessness continued because Back then in particular, but especially in Mexico, you're from Monterey. It was, that is it has a great business community and so on but entrepreneurship was and you say still really isn't in the DNA too much there and yet you started Start. Yeah we did a taste or mid 80s in entrepreneurs were not necessarily a work well known today entrepreneurs is. I mean, everybody talks about entrepreneurs and all this companies that you have in the US that at that time I remember when you describe yourself will introduce yourself. As an entrepreneur don't say you're unemployed. And you like to use this word that sounds so sexy. No one knew about entrepreneurs. That's right. Right. But we were so committed and I remember every time they will question you are unemployed. No, we're not. We're starting this company, But to your point In Mexico there were not probably we were the first in entrepreneurs at that time of that probably decade. And so it was it was tough to keep on saying, I'm an entrepreneur. I'm going to build a we're in entrepreneurs and we're going to build this global company. And they would look at us and say your people keep joining our company, even though we were very small. And so then they change and they said, I don't know why people believed them why they truly believe that soft, [ UNKNOWN ] Is going to be a global company. It's like a coat. Brag because it for them it was easy to think that way than to say that we were gonna be able to build a company. Yeah. In entrepreneurs. We're not there. So, it was, we have been fearless. It is true. I mean, by the way, she started this company with four Male partners. That is true. So, obviously, you're typically the only woman in the room. Not anymore. But, yes, for many years, yeah. And your advice in those situations? You know what, I keep saying that every time that I am in a room I like to see each other as executives. I don't wanna think about gender because we're executives at the end of the day, or team players or whatever. So my only advice or the way that I have handled it always it is not thinking about, he's my male partner. He's my female partner. It's more about we are executives we'll work for this company or for this board. Whatever. So it's the never never thinking about gender. Even though we I truly believe that we have to understand that we are different and there are things that are needed in order to promote much more the the inclusion of women in the business but, but again, it's once you're in the room, it's more What, talk about gender, it shouldn't be a topic. Yeah, but you didn't come up against obstacles. Tell them about the resignation, the black resignation letter that you had signed. It's true. It's interesting because it is true. Before starting this company I used to work for this industrial group from Mexico, a very important one. It was I mean, getting into that group, it was something that you always wanted to do. But amazingly, it was me late 70s, late 70s, early 80s. And my very first day they said, Okay you have to sign this resignation letter. So I just joined the company. But you have to sign it because if you. Get married, we don't wanna have any kind of talk, you already resigned. So it is the way it was at that time. It was that. Okay, you have chance to work here as long as you're single. Once you get married, you're not gonna be lay off. It's something that you already understand. So I signed that resignation letter. Yeah and I'm happy I did because when I got my engagement ring, we were starting ths company that when we started thinking about the company. And I- You started a company as well as getting married- Both things at the same time. Both things at the same time. I mean given that culture What happened you had obstacles and difficulties along the way as a woman? I know that for some woman, people they don't believe me but I always said that no, I have been very previlidge. And whenever they said, but that is not true you must have faced obstacles and probably I did but the decision that I made is there was an obstacle there I could always turn and take the other road. So probably there were obstacles, but there is not something I could remember saying this was very, very difficult, and I'm seen in different wards, and the chairwoman of the global company that we have presence in so many different countries. And. Clients all the fortune 500 our clients most of the Fortune .>. Yeah .>> And no, it's incredible. I have an amazing family support system. My partners are amazing also. So probably obstacles but I decided not to, Not to necessarily start- Not to engage them. Not to engage in those obstacles. I decided to walk away from them and look for other opportunities. So the company has 300 and some clients, major companies Tell us about your near assuring strategy that you used to help get there. Yeah well, the thing is when you started, I mentioned about entreprenuers not necessarily very well known at that time, but also Mexico in the tech business. It was very difficult. It still is that they see Mexico as a technology Powerhouse, if you wanna call it that way. They don't expect that from Mexico, any company from Mexico. So when we started, we made this very strong statement. We're gonna be a global company. And we meant it. We said global company and from the very beginning, the way that we define ourselves was global. The way that we structure, it was global. But when we look, we start opening offices in South America and even in Europe, then we look at the US, our neighbor, very close. The largest market for anything, but also for ID services. But we were gonna face, like we do in every country where we participate, Those very large companies the Accenture's, the IBMs, the Indian vendors that work ten times larger or even more than us. And so we said the only way to compete, it's to find our own space to not necessarily compete face to face, but to differentiate ourselves. So what we did is we launched this concept that is called Nisha today's mainstream. Is a trademark we are not necessarily fighting for but it's a trademark. And what it means really is to say we can offer similar things that the Indian vendors, but we don't have the advantages of being near. Remembered Mexico and the US have been partners for years. So we have worked together as partners, meaning both economies for years so so emphasizing that doing this kind of work ID services from a nearby location could have benefits. So it was like in a way tackling the deficiencies of the Indian model Near shore versus offshore. That's correct. That is correct. At that time, at that time it was the Good marketing It was a good mark. And you know what? I remember we changed the services of this marketing company 20, 25 years ago and we said we liked nature and they told us Don't use near shore. Don't bring all that. I mean, they will think about all the disadvantages of torture. So we pay them I don't know how much money we didn't have like $ 300, 000 [ LAUGH ] But we pay them and we left the room and said we're going to call it near shore. So we spend that money and at the end, I mean today people don't know that it is a trademark old vendors ID service provider Use that term. So it helps us. You know, fearless from the beginning Yeah So Blanca get your questions ready. And Blanca can talk about all of Latin America to and give a broad perspective about the region and technology. If you have questions there What would you say about the status of women in Latin America, in leadership, and in STEM? I think in every country we face similar Challenges. I mean, we all want to have more women in the C suite or not even the C suite. But in the second or third level, we need more women. Like I said before, Tommy has no gender and the company or the economy that the table to attract the most billion time is the one that is going to be more successful. So you don't wanna leave behind the woman. So I believe that we do face similar challenges but when you think about Latin America, we also have a culture issue that not necessarily Canada or the US face, it's more, and it's not the companies or not, it's more related to family, it's more related to society, it's, really if you ask me, the policies are there, companies are Open and willing to bring more woman. But then those women at the beginning they are probably being questioned by their own families. And not always but it's more common that here in the US and sometimes not the families but the mothers Of your daughters friends that it will say that that you are not necessarily paying enough attention to your kids. I have two daughters, two granddaughters and they're amazing. So I did pay enough attention to mine Family. Then you would go to school you told me go to school just to show up. Yeah, sure. I was there and we were sharing stories because I've also raised children while working and traveling and everything and I told you the best piece of advice I ever got from a child development person was. They smell guilt. Don't give off the whiff, the scent. And I was like [ LAUGH ] No but that's what I told you. And that was- Every time that they ask me what would you say it was even before you told me that's what I said. Cuz I said the best pieces never feel guilt. Never feel guilty cuz if you do, your children will feel that will smell that. And they will grow as victims. And if they grow as victims of you, that's not the way to raise a kid. You don't want your kids to raise feeling victims of something. So do not ever make anyone smell that guilt. Yeah. It's horrible for your, it's unfair for your kids. It's not unfair for you, it's unfair for your kids to be raised. Feeling that way. Yeah. And congratulations on incredible daughters and. Incredible daughters and incredible granddaughters. Do we have questions right here in front? Mic. And please identify yourself. Stand up. Hi, Blanca. Thank you so much. It's Irene Britt and I'm on several boards as we I know it earlier. So political rhetoric between the U. S. and Mexico has been in the news a lot. How, I'm wondering how that has potentially affected business opportunities. As well as cultural motivation within your company. Excellent question. Yes, it is. Well, like you said in the previous session today, it seems like it's a competition between which country is facing most challenges. But it is true, lately in the past months it has been in this all the kind of things to talk about the art relationship and the, The new nakta I keep forgetting the name USMCA. USMCA but the new knocked has been in negotiations for for many months and in the past week of the past months. They this present from decided to probably put in the same kind of negotiation different issues. And that put a lot of pressure to your point because it was no longer just about the commercial side, the trade side of this, it was something else to get from that. I believe that we have been partners, I mean the US Canada and Mexico for many years, we're very strong region when we work together. And no matter what kind of agreements we have at the end, it's gonna be very difficult to break what the breach that we have today the supply chains that we have today. Sooner or later elections of before elections. I think we're gonna get an agreement that will allow us to keep leveraging the advantages that we have as a region. Are you happy with the direction of the US MCA? Well, I think it needed the kind of remember that it was signed. Almost 30 years ago. So there were things that were needed to get improved. Right. Right ?. There will always be things that you like or don't like but it is true that it was something that was needed to include for example intellectual property was not there. Right. Services was not there. Again, it was signed- Is mostly about trucks and stuff back in 1993. Right, they keep fighting about about trucks. But if they look at a Tesla, look at a Tesla, then it no longer has a moderate things like that. So talk about those things, is like computer within the car. But they keep talking about that and the border, and I'd like to say focus more to It's almost like an alternate reality that yeah. Yeah. They're living in, yeah. But to your point, one thing that I cannot deny that probably some companies are waiting or expecting. I mean for investment, expecting what's gonna happen before I make my next investment. But regardless of that The point investment is growing in Mexico. I will not say that probably they have some concerns. AR people it's not necessarily talking about the culture within our company. We're today largest IT service provider in Latin America. But also the us is our largest market. The second largest market, it's Europe, it's not Mexico. So we are in a way dependent of this. But when you're in services, no matter the agreement, this is not gonna have a huge impact in us and we are very balanced in where the revenues come from. Is there another question? Yes. [ BLANK_AUDIO ] You have to identify yourself again. Yes, okay. I'm Marcia Moff at Blackrock. It's a related question but I won't repeat it, so I won't repeat the elements that I was thinking of. I'm interested in, so I get an opportunity to hear from a lot of business people, Here in Canada and the US I don't often get to hear from business leaders from Mexico and I'm really curious, and I hear what you are saying about much of your business being outside the country and the US and Europe, and other parts of latin America. Where do you see, you're thinking about your business in the future, where are you seeing the opportunities. And the growth, the world is changing but we can look at it as it's changing and it's all negative for us or we can look at it as the change, it can be, can benefit those who embrace the change and lean into it. So, I'm curious as to how you think about your strategy. Okay, one thing that I believe it's difficult to predict what's gonna happen in three years, I'm in this industry that changes so fast and so much that to think what's gonna be there in four years in three years, just think what we didn't have in technology five years ago. Probably Uber was not here. I don't remember but things change so much that one thing that will be constant its uncertainty. So planning. What's gonna be there in five years is gonna be tough. I might be hugely mistaken. Whatever I said today could be so crazy and probably it will be real in five years. So one thing that I wanna emphasize. Is that uncertainty how difficult it is today to plan ahead for five years, six years. Having said that, I will say that opportunities are everywhere when you're involved in this kind of industry. Today most Most of your companies are technology companies. Most of the challenges that we face no matter if it's security, if it's a financial need and are leveraged by technology, so we do believe I do believe that opportunities will be everywhere. If you look at African the things that you can do with technology, if you're asking me about the industry that I participate in, if you ask about the US think about as the largest. In consumer of IT services. So for us opportunities everywhere meaning I don't know which kind of technology is gonna be there, what kind of services that will be needed. But what it is something that it's gonna be very obvious this technology is gonna be part of those opportunities. And we truly believe that we'll be able to leverage that And we want to be part of that also One really quick question, because we have to wrap it up. When you and I were talking earlier I asked you where do you see the most kind of women in leadership positions in Latin America and you said Colombia, not Mexico or No for me it has always been surprising. We have a strong presence in Latin America. And obviously in Mexico we started there, but every time that I go to Colombia, I noticed that you find in Colombia, many more women CEOs than in any other countries in Latin America. It is interesting because if you try to say, what was the difference, why is the reason for that? Because if you look at Mexico, Chile, Brazil, whatever in there is this list of 100 the most whatever businessmen, business people in Mexico, there's just 99 men and me in that. And will 9798 there was another woman last year. There are not many. It hasn't changed in many years, but in Colombia You've been to Colombia? Yeah. I don't know what is different, but you do find more woman there. Blanca, we are so glad you're on that list. You've been called the Sheryl Sandberg of Mexico just simply for supporting women and women in technology, as well as building a great company Thank you so much. No. Thanks for coming. [ APPLAUSE ] [ BLANK_AUDIO ]

Mexico's Big Future In Tech Innovation

Finance

The woman at the helm of Latin America’s largest IT services company opens a window on the future of innovation in Mexico, what she’s doing to get more women involved in tech, and why investing in emerging markets is good for the bottom line.

Carlos there's some new optimism about the economy. The unemployment rate is now down to 4. 4 % and wages are even rising a little bit. But from all of the data that ADP tracks, how's the economy really doing? Well it does seem to be going pretty well, as you described it. A lot of people unhappy about the pace of the recovery, thinking that it should have been faster. But it may have taken a long time but we are definitely now close to full employment. The economy's feeling pretty good, I think people are probably gonna start seeing some wage increases. We have data that shows gradual increases from about 2 % a year ago to now about 2 and a half percent annual wage increases. So I think we're gonna start seeing a. A little bit of wage pressure on employers but I think it's good news for the consumer. Mm- hm. So if we're at full employment, as you said, how hard or how easy is it to get a job these days? I think it definitely means that it's gonna be easier to find a job because employers are more anxious and they're, and they openings that they can't fill In general employers are definitely going to be on the offensive here trying to find people so they are going to probably start increasing wages, they're going to start thinking harder about the types of benefits they offer. They're going to start thinking about the type of flexibility they offer workers and all those things I think play into the hands of employees. So what sectors are the best for finding a job and which ones are the worst? Well as you can imagine, information technology, so anything that has to do with technology, is showing kind of the highest wage increases. And right now, the number of jobs openings continues to grow, because the employers just can't fill the jobs as fast as they're seeing turnover And as fast as they're seeing demand grow, so that's clearly the strongest part of the economy right now. And the weakest? Weakest part of the economy is probably the manufacturing sector, which has been probably a long- term trend for the economy. And seems to be continuing to stagnate. We'll see if some of the administrations policies have an impact on that over the medium and long- term But I think that's an area of, I think, challenge for the economy right now and for employment. And what about for kids just graduating from college this year? How do things look for landing a job? Well it's funny you should mention that cuz we just saw some data yesterday, which not ADP data, that showed that the starting salaries for new college graduates has hit right around 50, 000. I think it's 49, 700. Not bad. 3 % up from the prior year, and I think it's up 12 % since 2007. But when you do the math, 3 % just in one year compared to 12 % over all of those years, clearly the trend is towards higher inflation even for People coming right out of college. So, great news for people coming out of college. For those who are coming out with a STEM degree, 65 thousand is the average starting salary. So I think we are seeing some good news for our college graduates this year. [ BLANK_AUDIO ]

Employers Are Likely to Raise Wages in 2017

Carlos Rodriguez, CEO of payroll services company ADP,  talks with Fortune about his views on the U.S. economy and employment. 

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